During his remarks at the Critical Minerals Africa forum, Gono highlighted that the Chamber has provided recommendations to ensure the bill promotes local content beyond service provision, with specific segments across the value chain reserved for local investors.

“With international investors having easier access to lower-cost capital, the government has established the Victoria Falls Stock Exchange to mobilize funds from pension resources, enabling local participation in long-term mining projects,” stated Gono, adding, “But it should not end there – our people need greater involvement in the value chain, from transportation and supply to consulting services.”

Gono also explained that the government is engaging platinum, copper and nickel producers to potentially expand its export ban on raw lithium to these sectors.

“The policy will mandate in-country beneficiation for all minerals, which increases employment and fiscal revenue. For example, raw lithium sold at $400 per ton in 2023, whereas lithium concentrate was valued at $7,500 per ton,” said Gono.

Additionally, Gono mentioned that Zimbabwe is in talks with lithium producers to advance beneficiation from lithium concentrate to lithium sulphide, further creating avenues for local industry participation.