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Zimbabwe Lithium Export Earnings Surge on Higher Spodumene Prices
Zimbabwe earned $2.16 billion from selling lithium products abroad in the first nine months of the year.
That was almost four times what it earned during all of last year.
The main reason was that the price of spodumene, a mineral used to make lithium products, rose sharply.
Spodumene brought in most of the money, while petalite and lithium sulphate also added to the total.
A Chinese company began exporting lithium sulphate from a plant in Zimbabwe in April.
Zimbabwe shipped about 33,000 metric tons of this material by the end of September.
Lithium products are now the country's biggest mineral exports after gold.
Most of Zimbabwe's lithium exports go to China.
Zimbabwe recorded $2.16 billion in lithium export sales in the nine months through September 30, nearly four times last year's total.
The Minerals Marketing Corporation of Zimbabwe attributed the increase mainly to a 283% rise in spodumene concentrate prices.
Spodumene generated $1.8 billion, petalite $155 million, and lithium sulphate $190 million in sales.
About 33,000 metric tons of lithium sulphate were exported by September; Zhejiang Huayou Cobalt began shipments in April after investing $400 million in a lithium salt plant.
Lithium products became Zimbabwe's largest mineral export after gold, while mineral sales excluding gold doubled to $4.74 billion.
- Who
- Zimbabwe and the Minerals Marketing Corporation of Zimbabwe, whose General Manager Nomusa Moyo reported the figures.
- What
- Lithium export sales reached $2.16 billion, nearly four times last year's total.
- Where
- Zimbabwe.
- When
- The figures cover the nine months to September 30 and were announced on Wednesday.
- Why
- The increase was mainly attributed to a 283% rise in spodumene concentrate prices.
Key facts
- Lithium export sales
- $2.16 billion in the nine months to September 30
- Spodumene price increase
- 283%
- Spodumene sales
- $1.8 billion
- Petalite sales
- $155 million
- Lithium sulphate sales
- $190 million
- Lithium sulphate exports
- About 33,000 metric tons by the end of September
- Mineral sales excluding gold
- $4.74 billion, double the total for the same period last year
- PGM sales
- $1.73 billion in the nine months to September 30
Sources
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