Britain Determined to Invest in Zimbabwe’s Critical Minerals Sector

critical-minerals

The British Embassy in Harare is intensifying efforts to strengthen trade relations with Zimbabwe, focusing particularly on the critical minerals sector.

Business writer

H. Cox, Head of Strategy and Engagement at the embassy, underscored this commitment during the Chamber of Mines Annual General Meeting and Conference’s critical minerals symposium held at Elephant Hills Hotel in Victoria Falls, emphasizing the potential for growth and collaboration between the two nations.

What Are Critical Minerals?

Critical minerals are essential elements required for high-tech applications, renewable energy technologies, and various industrial processes. These include lithium, cobalt, rare earth elements, and platinum group metals (PGMs), which are vital for manufacturing batteries, electric vehicles (EVs), wind turbines, and solar panels. These minerals play a crucial role in the global transition towards green energy, making them indispensable in combating climate change and achieving sustainable development.

Trade and Collaboration Between the UK and Zimbabwe

H. Cox highlighted the embassy’s strategic approach to enhancing trade ties with Zimbabwe.

“I lead our strategy and engagement team at the British Embassy in Harare. Our work covers a broad range of topics, but we’re particularly focused on increasing trade between the UK and Zimbabwe,” Cox stated. This focus is part of a broader mission to tap into Zimbabwe’s rich mineral resources and support its economic development.

Growing Trade and Preferential Access

The trade relationship between the UK and Zimbabwe has seen significant growth, thanks to a trade agreement that provides Zimbabwean exporters preferential access to the UK market.

“Last year, I’m pleased to say, trade between our countries grew by 67%. So, we’re moving in the right direction, but we see potential for much more, including in the area of critical minerals, which is what I’m here to speak to you about today,” Cox remarked.

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Collaborations with Global Firms

The UK is already collaborating with major global mining firms such as BHP, Anglo-American, Barrick Gold, and Sandfire Resources. These partnerships aim to harness advanced technologies and best practices to explore and develop Zimbabwe’s mineral resources. Cox highlighted, “Masasa Infrastructure is using AI algorithms to accelerate roof development and power transmission lines, showcasing the innovative approaches being applied.”

Renewable Energy Initiatives

Cox also pointed to significant advancements in renewable energy projects in Zimbabwe. “I’m pleased to say Solar Century Africa, a UK company, recently signed an agreement with Dellaglio’s Eureka Gold Mine to build a seven-megawatt solar plant,” he noted. Such initiatives not only enhance energy security but also align with global efforts to reduce carbon emissions and promote sustainable energy sources.

Comprehensive Services by RSK Group

In addition to mining and renewable energy, the UK is providing extensive support services through firms like RSK Group. “RSK Group operates in over 40 countries and has a strong offer to the mining sector, including geophysical, hydrogeology, and ESG services,” Cox explained. The involvement of RSK Group underscores the UK’s commitment to ensuring that mining operations adhere to high environmental, social, and governance (ESG) standards.

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