• Zimbabwe's lithium exports jumped 30% year-on-year by mid-2025, despite an 80% global price drop.
• National production surged 222% in 2024, with further growth expected this year.
• Mining firms in Zimbabwe remain optimistic, citing future demand tied to the global energy transition.

Lithium prices plunged over 80% between March 2023 and March 2024, according to Fastmarkets. The global market suffered from significant oversupply. Despite this, Zimbabwe continued to expand its lithium production and exports.

By mid-2025, Zimbabwe exported 586,197 tonnes of lithium concentrate, the Minerals Marketing Corporation of Zimbabwe (MMCZ) reported. This volume marked a 30% increase compared to the 451,824 tonnes recorded during the same period in 2024.

The Zimbabwean government disclosed few specifics about this performance. However, the country has seen rapid growth in lithium production, mainly driven by large Chinese investments. In 2024, production jumped 222%, reaching 2.4 million tonnes of lithium concentrate. Authorities expect output to grow to 3.26 million tonnes in 2025.

Zimbabwe’s export growth occurred in a depressed price environment. Fastmarkets data shows concentrate prices fell roughly 80% year-on-year. Prices continue to slide. On the Shanghai Metals Market, lithium concentrate currently trades at $730 per tonne. This sharp decline raises concerns about the real value of Zimbabwe’s exports. Officials have yet to disclose how the price drop has affected national revenue.

Despite falling prices, mining companies in Zimbabwe remain confident. They expect demand to rebound in the medium term, driven by global energy transition efforts. The International Energy Agency (IEA) projects that 55 new lithium mines must come online by 2035 to meet global needs.

This article was initially published in English by Aurel Sèdjro Houenou

Edited in English by Ange Jason Quenum