Why All Eyes Are On Zimbabwe’s Lithium Industry
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Published 2023-03-08
In an effort to reclaim control of its mineral exports, Zimbabwe passed the Base Mineral Export Control Act in 2022, which banned the export of raw lithium. However, some Chinese-owned companies that are developing mines and processing plants in the country are exempt from this ban.
With the world going electric, African countries will play a critical role in the electric vehicle battery supply chain. In 2009, China overtook the U.S. as Africa’s largest trading partner and accounted for 70 percent of global EV battery production capacity leaving the U.S. behind.
CNBC explores Zimbabwe’s mining sector to find out why China has a stronghold on the country and why it matters to the U.S..
Chapters:
0:00 — Introduction
02:29 — Zimbabwe's resources
07:15 — East vs. West
13:32 — Steps to reclaim
Produced by: Sydney Boyo
Supervising Producer: Jeniece Pettitt
Editorial Support: Shawn Baldwin, Erin Black, Ted Kemp, Matthew Clinch, Elliot Smith
Graphics by: Mallory Brangan, Jason Reginato
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Why All Eyes Are On Zimbabwe’s Lithium Industry
All Comments (21)
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They are currently hoarding a substantial amount of gold, saving it for a potential future economic downturn.
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The good people of Zimbabwe should manufacture and sell their own lithium batteries.
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Fingers crossed for an independent, prosperous Zimbabwe!
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As a south african, i pray for zimbabwe's rejuvenation. If zimbabwe can gets its act together, our region will become unstoppable.
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Western media seems unable to talk about Africa without mentioning China. I understand sometimes you have to mention China but it's almost impossible to find reporting done on Africa without China popping up once.
Sometimes, it feels like Africa matters only because China has an edge over western countries. -
As a Cameroonian in South Africa I'm really glad to see how CNBC has for the first time interviewed African experts concerning African issues. In the past,the habit was to interview some American or European folks sitting in London or Washington about issues in Africa lol as if they're no Africans who can comment on these things.
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The video bought up a very good point - consistency. The most important reason China has such a big influence in Africa now is because of it's consistent over the last 50 years.
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When you invest, you're buying a day you don't have to work
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Africa is really rich. This is the time for them to manage and secure their place in the global industry and don't let the bad things that happend in the past be repeated to them.
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Zimbabwe needs to mine the resources for themselves and stop letting other countries take it. If you allow that one day your bowl will be empty and nothing to show for it. There is a saying "If an oil company is buying your land, there is oil underneath it"
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The stock market has been a really tough one this past year, but I watched an interview on CNBC where the anchor kept mentioning "KATRINA VANRENSUM ". This prompted me to get in touch with her, and from August 2022 till now we have been working together, and I can now boast of $540,000 in my trading portfolio.
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Zimbabwe 🇿🇼 it’s our time now to shine in this world. Making money is an action. Keeping money is a behavior, but Growing money is wisdom....
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Watching this living in Zimbabwe and it is absolutely crazy how valuable our minerals are
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As a Zimbabwean Energy Systems Rsearcher I am very happy that you have brought such a contentious issue to the forefront. keep it up.
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Zimbabwe, like a lot of other mineral rich countries are causing their own downfall by allowing other countries to control their resources to the detriment of their own financial well-being. It is sad and frustrating.
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African countries need to take advantage of the money they received from their resources and develop internationally. Think of petroleum and the Middle East, UAE started the same way and now look at Dubai!
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🇿🇼🙌🏿❤Rise and shine my beautiful nation of Zimbabwe, you have the potential to be a million times better than you are today. Zimbabweans, let's work together to build our nation, this is our time, this is our chance, let's not sleep on it!
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There was a prominent African politician that said something to the effect: When the Chinese come to Africa, they give a school or hospital; When the West comes to Africa, they give us a lecture.
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🇿🇼🇿🇼🇿🇼 May God grant complete Victory to the leadership and people of Zimbabwe Africa.
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I pray for the resurgence of Zimbabwe...They have been looked down upon for too long now.
