Zimbabwe’s lithium industry is on course to generate about US$1 billion in turnover this year as producers begin exporting battery-grade lithium sulphate, with annual revenue projected to rise to US$3.2 billion once planned processing plants reach full capacity, Mining Zimbabwe can report.
By Ryan Chigoche
The projections were outlined by Innocent Rukweza, chairman of the Lithium Producers Association of Zimbabwe, during a panel discussion at the Beneficiation Symposium held on the sidelines of the just-concluded Mine Entra 2026 exhibition in Bulawayo.
The projections provide one of the clearest indications yet of the economic gains the country expects from its beneficiation policy, which seeks to shift the industry from exporting raw minerals to manufacturing higher-value battery materials.
Zimbabwe, Africa’s largest producer of lithium, has progressively tightened export controls on the battery mineral as it seeks to capture more value from the global electric vehicle supply chain. The government first banned raw lithium ore exports before requiring producers to invest in downstream processing facilities, arguing that beneficiation will generate higher export earnings, industrial investment, and skilled employment.
Speaking during the panel discussion, Rukweza said the industry’s transition from raw ore exports to concentrate and now lithium sulphate was already reshaping the sector’s earnings.
“In 2022, when we were just exporting ores, we were looking at a turnover of over US$60 million,” Rukweza said.
“The moment the ban came in and we were dealing with concentrates, we’ve been averaging about US$580 million between 2023 and 2025. This year, with the first parcel from Acadia of lithium sulphate, we’re expecting turnover to reach about US$1 billion.”
The milestone follows Zimbabwe’s first commercial exports of battery-grade lithium sulphate by Acadia, marking the country’s entry into a higher-value segment of the battery minerals supply chain.
Lithium sulphate is an intermediate chemical used to manufacture battery-grade lithium products, allowing producers to capture substantially greater value than exporting raw ore or concentrate.
Rukweza said the industry’s earnings would continue climbing as more lithium sulphate plants come on stream.
“Thereafter, when the industry is also producing lithium sulphate from 2027 and beyond, we are going to be peaking at a turnover of US$3.2 billion. From just exporting ores to lithium sulphate, we are moving from US$60 million to about US$3.2 billion. The numbers don’t lie.”
The projected growth is underpinned by billions of dollars already committed to downstream infrastructure. According to Rukweza, producers have invested about US$2 billion in concentrator plants and a further US$1.4 billion in lithium sulphate facilities, taking total investment in the lithium value chain to about US$3.4 billion.
At peak production, Zimbabwe’s lithium sulphate processing capacity is expected to reach about 385,000 tonnes a year by 2028, positioning the country as a significant regional producer of the battery chemical.
The figures suggest Zimbabwe’s beneficiation policy is beginning to attract investment beyond mining into chemical processing. However, Rukweza said sustaining that momentum would require a competitive fiscal framework.
He said Zimbabwe’s tax burden remained relatively high compared with competing lithium-producing jurisdictions and urged policymakers to consider fiscal incentives to support beneficiation projects, noting that downstream processing requires substantial capital and long-term investment.
“We would kindly request that the taxation framework be looked at. If you compare Zimbabwe with competing jurisdictions, we are on the high side. There is also a need for fiscal incentives that support beneficiation because of the scale of investment required,” he said.
Beyond lithium sulphate, producers are also seeking to extract greater value from associated minerals. Rukweza said the industry is developing projects worth more than US$80 million to recover critical minerals, including tantalum, niobium, and cesium, broadening Zimbabwe’s participation in global critical minerals supply chains and reinforcing the country’s beneficiation strategy.
