Benchmark Mineral Intelligence has revealed forecasts predicting a significant rise in Africa’s lithium output, tripling in 2024. This surge elevates Africa’s contribution to global lithium production from 4% to over 10%. The Chinese investment, accounting for 90% of Africa’s planned lithium supply through 2030, is pivotal. Notably, Zimbabwe, home to the largest lithium deposits in the region, continues to expand its mining capacities. In April 2024, a 300-ton-per-day lithium concentrator was launched in Mutoko. Zimbabwe could potentially satisfy 20% of worldwide lithium demand.

Africa’s Critical Minerals Summit and Lithium Exploration

The Critical Minerals Africa summit in Cape Town from November 6-7 will focus on Africa’s pivotal role in the lithium sector. The event attracts global investors keen on African mining ventures. Deccan Gold Mozambique has also embarked on lithium exploration in Mozambique, establishing a processing facility with significant investment support. Meanwhile, Aterian prepares to explore the HCK lithium project in Rwanda, highlighting regional exploration growth.

Strategic Investments and Local Value Addition

Investments across Africa include Ganfeng Lithium‘s acquisition in Mali, securing a major stake in the Mali Lithium Project. Likewise, Atlantic Lithium has reported promising excavation outcomes in Ghana, indicating rich lithium resources. Several African nations pursue local value addition, with Zimbabwe and Tanzania focusing on in-country refining facilities for lithium and other critical minerals.

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