China's Zhicun Lithium explores lithium opportunities in Kazakhstan

On the 4th of September, China Mineral Resources Group completed and commissioned two lithium ore processing projects at the Bikita lithium mine in Masvingo province, Zimbabwe. A 2 million tonne per year lithium feldspar expansion project and a 2-million-tonne-per-year spodumene construction project, completed on July 6th and 7th respectively. The two projects represent combined investment of approximately RMB1.937 billion (about R4.64 billion), adding a combined 4 million tonnes per year of lithium ore processing capacity at the site. Bikita is a long-established lithium operation; pegmatite exploration was first recorded in 1911, with lithium production beginning in the 1950s. The mine has historically used both open-pit and underground mining methods, with lithium ore processed at an onsite concentration plant via gravity separation for petalite concentrate and flotation for spodumene concentrate. China Mineral Resources Group acquired Bikita Minerals in 2022, when the mine was nearing the end of an orebody, and subsequently invested in exploration and expanded lithium production capacity. Bikita Minerals reported 1,360 direct employees, including 180 women, with the company previously stating that 80% of its workforce is recruited from local communities including Bikita, Gutu and Zaka. Group chairperson and president Wang Pingwei attended the commissioning ceremony, stating the group had prioritised construction of the beneficiation plants and provided significant resources and support for the projects. Wang said completion of the projects marks a new stage in the Bikita mine's development and progress for the group in lithium resource development and use. He stated the group's lithium products will become more diversified and economical, while improving the matching between lithium resources and smelting capacity directly linking the added Bikita concentrate output to the group's downstream lithium conversion needs. Wang credited the Bikita team, led by China Mineral Resources Group VP and Bikita lithium mine GM Wang Zhenhua, and said the projects had received support from the Zimbabwean government and local community. The company has previously stated its investment was intended to expand production and develop additional lithium resources at Bikita. The completed projects expand and upgrade lithium processing facilities at an existing operation, adding a new spodumene concentrate line alongside expanded petalite concentrate capacity new supply positioned to feed the group's smelting/conversion capacity, per the company's own stated rationale.

SMM, September 4: Zimbabwe suspended exports of all raw minerals and lithium concentrates with immediate effect in late February 2026, citing alleged malpractices and leakages. The ban on lithium concentrates had previously been expected to take effect only in 2027, while a ban on unprocessed lithium ore was introduced in 2022. The measures reflect Zimbabwe's aim of limiting raw lithium exports to encourage in country beneficiation and retain more downstream value from lithium production. In the short term, mining companies may find themselves unable to export lithium concentrate under the new rules while also being unable to process the material locally resulting in stalled revenue, higher costs, and disruption to lithium mining operations. Infrastructure constraints, including unreliable electricity supply, compound these challenges, with companies often needing to import skills and technology to establish local processing capacity. The shift toward local lithium beneficiation is also generating new intercompany transactions covering funding, technical and management services, technology licensing, and the onward sale of beneficiated lithium products each carrying transfer pricing risk. In Zimbabwe, fees for such services may be capped at a percentage of revenue, with further limits on deductibility adding complexity. Newly established lithium beneficiation entities in the country may post losses tied to startup costs, delays in reaching full production, or disruption from the policy shift itself. Revenue authorities in other jurisdictions may question whether such losses reflect genuine operating conditions or pricing misalignment, placing the onus on companies to document the policy changes, timing delays, and infrastructure constraints behind their results. As Zimbabwe's lithium beneficiation capacity develops, mining companies will also face scrutiny over the pricing of processed lithium, the allocation of value within corporate groups, and which entities perform key functions, bear risk, and hold critical assets across the lithium value chain.