[SMM Flash ] Savannah Resources Secures Land Access Agreements for Barroso Lithium Project in Portugal

At the 2026 Asian Battery Materials Cooperation Forum (South Korea) - New Energy Application Scenario Demand Outlook Forum hosted by SMM, Chen Bolin, Senior LFP Analyst at SMM, shared insights on "Global Iron Phosphate (Lithium) Industry Landscape in 2026 & Raw Material Cost Transmission and Pricing Mechanism Restructuring." Iron phosphate capacity is expanding rapidly, with room for further improvement in capacity utilization rate SMM expects that from 2023 to 2030, China's iron phosphate capacity will grow at a CAGR of 22%, with nominal capacity reaching approximately 1.25 million mt by 2030, and the capacity utilization rate is expected to rise from 31% previously to around 86%. Overall, SMM believes that China's LFP capacity expansion has outpaced production release, and as downstream demand catches up, the capacity utilization rate will gradually increase.

Zimbabwe's ability to attract and retain mining investment depends on maintaining economic stability, infrastructure development and access to long-term capital, according to Stanbic Bank Zimbabwe mining and metals VP Tania Mandaza. Zimbabwe's lithium export restrictions, aimed at encouraging domestic processing, are already influencing investor capital allocation. Beneficiation requires higher upfront capital than raw ore export, and the policy is expected to encourage consolidation, with smaller miners pursuing toll-processing arrangements, joint ventures or acquisitions with larger operators. Stanbic Bank Zimbabwe funds mine development and processing plants, including lithium facilities, ferrochrome smelters and PGM refineries, and participates in syndicated financing, trade finance, guarantees, letters of credit and working-capital facilities. Demand for longer-tenor structured project finance is rising, with some projects requiring terms of up to seven years strongest currently for gold mine expansions on higher gold prices, alongside growing requests for processing-plant financing. Power supply security remains a key focus for the sector. The government has directed miners to develop their own power solutions, and the bank is funding renewable-energy transactions as well as public-private partnerships for rail and logistics revival. Beyond lithium, Mandaza cites PGMs, gold, chrome and nickel as offering investment opportunities, with rare earths a longer-term prospect. Nickel demand is being driven by EV and battery markets. Zimbabwe's gold output rose from 38.5 t in 2024 to 50.5 t in 2025, with about 55 t targeted this year; gold prices near $4,000/oz are drawing investor interest in local assets. Proposed reforms the Mines and Minerals Bill and a digital mining permit system aim to provide regulatory certainty on mining rights, taxation, foreign-currency rules and export policy. ESG requirements, spanning green energy, water and tailings management, emissions, community development and governance, are increasingly factored into financing decisions. Chinese investment is expected to remain significant in Zimbabwe's lithium sector, with additional interest emerging from the Middle East, the Americas and India, as investors broaden into processing and manufacturing to secure critical mineral supply chains. The export restrictions are reshaping Zimbabwe's position in the global spodumene supply chain: raw concentrate available for export is constrained near-term as beneficiation capacity develops, while the country's export profile is expected to shift toward higher value processed lithium products over time.