Business Reporter
CHINESE mining giant Huayou Cobalt expects annual foreign exchange earnings from its Zimbabwean operations to exceed US$600 million in 2026 after commissioning Africa’s first lithium sulphate plant, an official has said.
Zimbabwe’s lithium exports reached US$2,16 billion in the nine months to September 2026, nearly quadrupling the previous year’s total earnings of US$513 million from concentrate shipments.
This surge in total value realised this year highlights a recovery in spodumene prices alongside the growing impact of local beneficiation, including the country’s first exports of processed lithium sulphate.
Huayou Cobalt’s local operations are Prospect Lithium Zimbabwe (PLZ) and Arcadia Technology Zimbabwe (ATZ).
Speaking during a media presentation ahead of a tour organised by the Minerals Marketing Corporation of Zimbabwe (MMCZ) and the Zimbabwe Environmental Law Organisation (ZELO) last Friday, Prospect Lithium Zimbabwe public relations manager Mrs Patience Mushore-Chizodza highlighted the company’s expanding footprint and value-addition trajectory in the country.
Mrs Mushore-Chizodza noted that the US$400 million lithium sulphate processing plant — developed under ATZ — was completed and commissioned on December 31, 2025, and is now fully operational with stable output. The plant marks Africa’s first integrated lithium mining, beneficiation and smelting facility, placing Zimbabwe at the centre of battery-grade mineral processing.
The development comes at a critical time for the country’s extractive sector, as lithium has since overtaken Platinum Group Metals (PGMs) as Zimbabwe’s largest foreign currency earner among non-precious minerals.
Driven by surging export volumes of spodumene, petalite and processed lithium sulphate, the battery metal’s rapid growth underscores the impact of Government-enforced beneficiation policies and private sector investment in domestic processing.
Following the operational success of its lithium sulphate facility, Mushore-Chizodza said Huayou is now focusing on production of rough lithium carbonate — marking Africa’s first large-scale project and strengthening Zimbabwe’s position in the global clean-energy supply chain.
“On lithium carbonate, preparations are already underway and we expect the construction (of the plant) to have started in the first quarter of 2027,” said Mrs Mushore-Chizodza. “So, plans are underway to establish a lithium carbonate processing plant here at Arcadia Technology Plant.”
To date, Huayou’s total capital commitment in Zimbabwe stands at US$1,1 billion, reinforcing its position as the largest foreign investor in the country’s lithium landscape.
PLZ alone represents an investment exceeding US$700 million, operating one of the largest single hard-rock lithium processing facilities on the continent.
Looking to scale up its resource footprint, Huayou is also advancing its flagship Sandawana project located in the Mberengwa district of Zimbabwe’s Midlands Province.
Spanning roughly 11,5 square kilometres, the US$300 million Sandawana expansion features a designed ore processing capacity of three million tonnes per annum, further expanding the group’s production capabilities and feeding into national beneficiation targets. In terms of contribution to the Treasury, PLZ has paid over US$100 million in taxes and royalties to the Government.
On the environmental and regulatory front, the company secured approval for an export quota of 350 000 tonnes of lithium concentrate after meeting all compliance measures enforced by the Ministry of Mines and Mining Development.
The investments have delivered significant direct employment, creating around 4 000 direct and indirect jobs across PLZ and ATZ.
To build local technical capacity, Huayou established the China-Zimbabwe College of Engineering and Technology and rolled out youth skill development programmes in welding and electrical engineering.
The company has invested more than US$5 million in corporate social responsibility initiatives, including borehole drilling to provide clean water in Goromonzi, educational support, and partnerships with China-Aid and UNICEF.
