{"id":84951,"date":"2023-10-16T22:05:01","date_gmt":"2023-10-16T20:05:01","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-the-unlikely-african-country-thats-becoming-the-new-white-gold-capital-of-the-world"},"modified":"2023-10-17T01:18:41","modified_gmt":"2023-10-16T23:18:41","slug":"zimbabwe-the-unlikely-african-country-thats-becoming-the-new-white-gold-capital-of-the-world","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/zimbabwe-the-unlikely-african-country-thats-becoming-the-new-white-gold-capital-of-the-world","title":{"rendered":"Zimbabwe: The unlikely African country that\u2019s becoming the new \u2018white gold\u2019 capital of the world"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>ZIMBABWE hopes to become the world\u2019s largest exporter of the chemical element Lithium.<\/p>\n

Lithium, or \u2018white gold\u2019 as it is often known to investors, has become an incredibly valuable resource, as it is one of the key components of electric vehicle batteries. Now an unlikely African country hopes to become the largest exporter.<\/p>\n

The global demand for more renewable energy sources has lead to a exponential demand for lithium batteries, particularly in the car industry as electric vehicles become a trend.<\/p>\n

The chemical element can be located in Mali, Ghana, the Democratic Republic of Congo and Namibia, but it is the south African country Zimbabwe that has the largest reserve \u2013 and hopes to provide 20 percent of the worlds\u2019 demands.<\/p>\n

This demand comes at a cost however \u2013 with the profitable resource attracting rogue miners who want to dig it up to smuggle across the border.<\/p>\n

This illegal mining can be devastating \u2013 earlier this year, a classroom in Kwekwe collapsed, injuring fourteen students as the fiends had tunneled under the school in search of the valuable mineral.<\/p>\n

Lithium has also attracted international attention, with China, Canada, Australia and the UK investing in mineral batteries.<\/p>\n

China are the biggest players in the investment game, spending more than a billion dollars acquiring and developing projects in the state.<\/p>\n

This global demand comes at a price however, and in December 2020, the Zimbabwean government banned all exports of lithium as a raw material.<\/p>\n

This isn\u2019t a complete dead end for investors \u2013 it just means that it must be processed as a concrete before leaving the country.<\/p>\n

This ban is in place to boost Zimbabwe\u2019s own economy, and create more jobs for residents.<\/p>\n

China has managed to find a loophole in this, however, and their investment into processing plants exempts them from this ban.<\/p>\n

\u201cZimbabwe is open for business,\u201d said President Emmerson Mnangagwa, who has huge aspirations for the resource, hoping that it will remodel Zimbabwe the same way oil has transformed the Middle East.<\/p>\n

For More News And Analysis About Zimbabwe<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. ZIMBABWE hopes to become the world\u2019s largest exporter of the chemical element Lithium. Lithium, or \u2018white gold\u2019 as it is often known to investors, has become an incredibly valuable resource, as it is one of the key components of electric vehicle batteries. Now an unlikely African country hopes to become the largest […]<\/p>\n","protected":false},"author":84,"featured_media":84949,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,12],"tags":[1493,2189,19],"class_list":{"0":"post-84951","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-policy","9":"tag-africa-press","10":"tag-africa-press-zimbabwe-2","11":"tag-zimbabwe"},"yoast_head":"\nZimbabwe: The unlikely African country that\u2019s becoming the new \u2018white gold\u2019 capital of the world - zimbabwe<\/title>\n<meta name=\"description\" content=\"ZIMBABWE hopes to become the world\u2019s largest exporter of the chemical element Lithium. 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