Tsingshan Holdings Group to develop Lithium supply chain in Zimbabwe

Tsingshan Holdings Group to develop Lithium supply chain in Zimbabwe

Tsingshan continues a surge of Chinese investment in Zimbabwean lithium operations during 2022.

Blue View

Chinese resources company Tsingshan Holdings Group (Tsingshan) announced an agreement with the Government of Zimbabwe in late November to develop lithium mining and processing operations within the country. Tsingshan has become a major force in global commodity markets, rising to become the world’s largest refined nickel producer in recent years. The commitment to lithium comes as part of a wide-ranging agreement in which Tsingshan will commission new cement and stainless steel production capabilities, as well as expand its existing coke and ferrochrome production capacity, within the country.  

The agreement follows a string of Chinese investments in the Zimbabwean lithium industry during 2022. Suzhou TA&A Ultra Clean Tech invested US$35M in the Zulu project in November, Zhejiang Huayou Cobalt acquired an 87% holding in the Arcadia project for US$422M in May and Sinomine purchased a 74% stake holding in the Bikita Lithium mine for US$180M in February.       

Zimbabwe is a key producer of lithium mineral concentrates, supplying spodumene and petalite concentrates to the international market from the Bikita mine near Harare. With the development of several lithium mines in Zimbabwe and Chinese investment in lithium processing capacity, Zimbabwe’s position in the global lithium industry will be boosted over the coming years. The involvement of major Chinese companies however suggests feedstocks will be destined for China, leaving mineral converters in Europe and North America with one less potential source of materials.      

  • 08 Dec 2022
  • Tsingshan Group
  • Lithium
  • Batteries

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