China-Africa lithium battery energy storage project

Why are Chinese energy companies buying Zimbabwean lithium mines?

Three Chinese energy companies have snapped up controlling shareholdings in Zimbabwean lithium mines during the past four months, as China, the world’s biggest EV market, increasingly gravitates towards Africa to diversify the supply of lithium, one of the most sought after minerals used in the booming manufacture of electric vehicles ( EVs ).

How many lithium projects are there in Africa?

Demand is expected to accelerate rapidly. Fitch Solutions estimates there are about nine lithium projects currently being developed in Africa – in Zimbabwe, Namibia, Mali, Ghana and the Democratic Republic of the Congo (DRC) but the projects are still small relative to the number of projects being developed in the Americas, Australia and Europe.

Will China invest in Africa for lithium & cobalt?

Sabrin Chowdhury, Fitch Solutions’ mining analyst, says high lithium prices, significant reserves and a strong demand outlook from the battery sector in the coming decade cement a bullish outlook towards Chinese investment into Africa for strategic minerals including lithium and cobalt.

Does Zimbabwe have a lithium resource?

Zimbabwe possesses Africa’s largest lithium reserves and the fifth largest globally but the resource has remained largely untapped due to a lack of investment. Lithium has become a vital raw material required in the transition to a green economy.

What are lithium ion batteries used for?

Lithium ion batteries are commonly utilised in EV manufacturing and in electric devices or solar panels to store excess solar energy. Battery metal specialists say the drive for clean technology initiatives and off-grid power storage has created an enormous demand for lithium batteries and electric vehicles in recent years.

Why do Chinese mining companies invest in Africa?

In general, Chinese mining firms have invested heavily in Africa over the years, as part of the authorities’ goal to set up a stable supply of ores, and as part of their Belt and Road Initiative, a multi-decade geopolitical and economic strategic policy aiming to increase China’s influence in key markets around the world,” Chowdhury says.