ZIMBABWE’s output of Lithium, registered a 169,5% increase in the first quarter of 2023, signifying a huge step taken so far in exploiting one of the world’s most sought after commodities in recent times, Zimbabwe National Statistics Agency (Zimstat) reported Thursday.
Zimbabwe is the world’s fifth largest lithium producer whose lithium output has increased steadily in recent years, producing 1 200 metric tonnes of the battery metal in 2021. Widely regarded as the country’s ‘sanctions busting’ card, the white gold has been perceived as the country’s new oil with authorities setting a US$10-billion revenue target while promising jobs through the mineral’s value addition.
The country’s statistics agency ,Thursday reported a significant jump of the commodity’s output within a 12 months period.
“Lithium production index for the first quarter of 2023 was 184,2% depicting a year-on year increase of 169,5% from 68,4% recorded in the first quarter of 2022. The increase also resulted in a quarter-on-quarter percentage increase in output of 22,2%,” said Zimstat.
With untapped resources, a national agenda to develop the entire lithium value chain and new investment flowing inwards due to growing global demand, the country is well on its way to become a global lithium hub. Recently the government through the Ministry of Mines and Mining Development banned the export of any mineral ore containing lithium on the back of plans to maximize the commodity’s value by 300% after beneficiation.
The statistics organ also revealed that during the first quarter period, the Index of Mineral Production was 138,9% , reflecting a year-on-year percentage increase of 16,8% when compared to 118,9% recorded in 1st quarter 2022.
The quarter-on-quarter comparison however shows a 6,98% decrease in the index from 149,3% recorded in the fourth quarter of 2022 to 138,9% in the first quarter of 2023. The output index for gold showed a decrease from 117,2% recorded in the first quarter of 2022 to 110,7 % in the first quarter of 2023.
Platinum increased by 34,6% from 103,3% in 1st quarter 2022. Diamond recorded an annual output increase of 55% with a quarter-on-quarter percentage change of 7,2% .
Source NewZimbabwe
