Zimbabwe has implemented an immediate ban on the export of all raw minerals and lithium concentrates, a significant move aimed at enhancing local processing capabilities and exercising stronger oversight within the nation's mining sector. Mines Minister Polite Kambamura announced this decision, asserting that the ban would apply to shipments already in transit and would remain in place until further notice. This policy shift underscores the government's efforts to address reported issues of 'widespread malpractices and export leakages' in the raw minerals trade, which has been a growing concern in recent years.

The government has stressed that the measures are in the 'national interest', as it seeks to boost the economy by retaining more value from its natural resources within the country. By promoting local mineral value addition and beneficiation, the aim is to enhance accountability and increase the number of local beneficiaries of the mining sector. Zimbabwe, being the largest producer of lithium in Africa, possesses vital resources, particularly essential for electric vehicle batteries and renewable energy technologies, making this ban potentially impactful in both local and global markets.

This ban on exports could lead to various implications for Zimbabwe's economy and its key sectors. While it aims to foster local industry development and increase the country's economic resilience, it may also lead to temporary disruptions in the global supply chain, particularly regarding lithium, which is crucial for the burgeoning electric vehicle market. Investors and international companies may need to reassess their strategies in response to these regulatory changes as Zimbabwe positions itself to maximize the local benefits of its mineral wealth.