Zimbabwe's lithium miners are asking the government for an extension to a deadline requiring them to build local processing plants, according to industry sources. The policy, aimed at boosting local value addition, mandates that miners process lithium domestically by a set date.
The request comes as global lithium prices have fallen, squeezing profit margins for miners. Companies argue that the current economic climate makes it challenging to finance the construction of processing facilities.
Zimbabwe holds some of Africa's largest lithium deposits, and the government has been pushing for more local processing to capture greater economic benefits. However, miners say they need more time to secure funding and complete feasibility studies.
The government has not yet responded to the request. The outcome could impact Zimbabwe's ambitions to become a key player in the global lithium supply chain for electric vehicle batteries.
