Zimbabwe’s Mineral Sales Hit $984 Million After Lithium Export Ban

Zimbabwe’s mineral sector posted a sharp jump in first-quarter earnings to nearly $1 billion, driven by a surge in lithium and platinum group metal sales after a government ban on unprocessed mineral exports forced greater local processing and reshaped the country’s role in global battery supply chains, particularly into China

Zimbabwe’s mineral sales rose sharply in the first quarter of 2026, nearing $1 billion as lithium and platinum group metals exports surged following a government ban on exports of unprocessed minerals.

The southern African country’s policy, introduced on Feb. 25, accelerated domestic processing and beneficiation in the mining sector, reshaping export patterns and boosting earnings from processed and semi-processed minerals.

Data from the Minerals Marketing Corporation of Zimbabwe (MMCZ) showed total mineral sales reached 1.29 million tonnes valued at $983.85 million in the first quarter, up 27% in volume and 79% in value from a year earlier.

Lithium was among the strongest performers as global demand for battery minerals remained firm. Sales rose to 240,826 tonnes worth $178.64 million, representing a 2% increase in volume and a 106% jump in value year-on-year.

The export restrictions have strengthened Zimbabwe’s position in the global battery supply chain, particularly as a major supplier of lithium to China, MMCZ General Manager Nomusa Moyo said.

“Government’s ban on lithium concentrates exports, while producing short-term disruption to global spot supplies, has solidified Zimbabwe’s strategic influence over the global battery supply chain through domestic processing,” she said.

“As a supplier of approximately 15 percent of the spodumene imported into China, Zimbabwe is a critical and vertically integrated partner for the world’s leading battery manufacturers.”

Platinum group metals also boosted export earnings, contributing $543.97 million during the quarter. Concentrate sales nearly doubled in volume, while firmer global prices lifted revenue despite lower matte volumes.

Steel products, coal and coke recorded strong gains on the back of improving regional demand and higher production of value-added exports.

Diamond exports, however, remained under pressure due to weaker prices and production challenges linked to competition from lab-grown stones.

MMCZ said the outlook for the second quarter remained uncertain, with geopolitical tensions and disruptions in energy markets expected to affect commodity prices, particularly for critical minerals used in industrial and defence supply chains.

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