China is getting a head start in the global rush for lithium after several mining companies completed multimillion-dollar processing plants for the “white gold” in Zimbabwe.
Major Chinese companies, including Zhejiang Huayou Cobalt, Sinomine Resource Group and Chengxin Lithium Group, all completed the construction or upgrade of lithium processing plants in Zimbabwe last year.
The southern African country is home to one of the world’s largest hard rock lithium reserves, attracting Chinese companies in search of raw materials for lithium-ion batteries used to power a host of products from electric vehicles to solar panels. This means that in the global transition to green energy, Zimbabwe’s lithium reserves are hot property.
Beijing currently controls the global lithium-ion battery industry, while it also dominates much of the processing of the mineral. To get the raw materials it needs, China has ramped up its procurement of lithium from Africa and elsewhere amid disquiet from Washington over Beijing’s grip on critical metal supply chains.
For the rest of this article: https://www.scmp.com/news/china/diplomacy/article/3254686/china-strengthens-its-grip-global-lithium-trade-amid-processing-plant-building-boom-zimbabwe