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Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":736,"relatedVideos":737},112470042506940,"14732f4c-ec3a-4fe1-b0f4-86ae8cc8f5e8","African lithium exports climb as Chinese-owned mines go online","african-lithium-exports-climb-as-chinese-owned-mines-go-online","article/african-lithium-exports-climb-as-chinese-owned-mines-go-online",{"_uid":547,"date":548,"tags":549,"editor":559,"content":569,"excerpt":715,"featured":51,"reporter":716,"_editable":720,"component":721,"seo_title":543,"categories":722,"visibility":728,"author_company":49,"featured_image":729,"seo_description":715,"author_full_name":49,"author_job_title":49,"formattedDate":734,"formattedArticleDate":735},"609aeee4-e5ad-4f74-911e-a3589cb505b1","2024-02-16 00:00",[550,553,556],{"slug":551,"name":552},"africa","Africa",{"slug":554,"name":555},"china","China",{"slug":557,"name":558},"zimbabwe","Zimbabwe",[560],{"slug":561,"name":562,"content":563},"didi-bostock","Didi Bostock",{"job_title":564,"image":565,"bio":567,"linkedin":568},"Editor - Energy Transition & Economics",{"filename":566},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":570,"content":571},"doc",[572,579,592,597,602,611,616,621,626,631,636,648,655,660,665,670,675,680,685,690,695,700,705,710],{"type":573,"attrs":574,"content":575},"paragraph",{"textAlign":49},[576],{"text":577,"type":578},"African lithium raw materials exports have increased over the past year as mines owned by Chinese lithium processors across the continent go online.","text",{"type":573,"attrs":580,"content":581},{"textAlign":49},[582,590],{"text":583,"type":578,"marks":584},"Benchmark forecasts",[585],{"type":586,"attrs":587},"link",{"href":588,"uuid":49,"anchor":49,"target":49,"linktype":589},"https://www.benchmarkminerals.com/forecasts/lithium/reports/","url",{"text":591,"type":578}," that 97% of Africa’s mined lithium supply in 2024 is set to come from projects owned by Chinese companies that also have lithium chemical processing capacity.  ",{"type":573,"attrs":593,"content":594},{"textAlign":49},[595],{"text":596,"type":578},"Zimbabwe has been a top beneficiary of this investment, with the majority of operating mines there owned by Chinese companies that also have lithium chemical production capacity.",{"type":573,"attrs":598,"content":599},{"textAlign":49},[600],{"text":601,"type":578},"Chinese-led lithium mine development in Zimbabwe supported an almost 1,300% increase in spodumene concentrate exports from the country between January and November 2023. The rise was also driven by Zimbabwe’s 2022 lithium ore export restrictions. ",{"type":573,"attrs":603,"content":604},{"textAlign":49},[605],{"type":606,"attrs":607},"image",{"id":49,"alt":608,"src":609,"title":49,"source":49,"copyright":49,"meta_data":610},"","https://a.storyblok.com/f/287943243085208/c09858ddb2/bm-screenshot-2024-02-19-100835.png",{},{"type":573,"attrs":612,"content":613},{"textAlign":49},[614],{"text":615,"type":578},"In January 2024, Chinese processor Yahua Lithium kicked off production at its majority-owned Zimbabwean Kamativi mine and beneficiation project. Yahua has a 60% stake in the mine with Sichuan Pude Technology holding the remaining shares.",{"type":573,"attrs":617,"content":618},{"textAlign":49},[619],{"text":620,"type":578},"The Chinese company announced later in the month that it had transported almost 300 tonnes of spodumene concentrate from Kamativi, the first batch of an eventual 5,000 tonne shipment from the asset.",{"type":573,"attrs":622,"content":623},{"textAlign":49},[624],{"text":625,"type":578},"Yahua is currently the largest Chinese lithium chemicals producer to operate mines in Africa. However, Sinomine, Xinfeng Investments, Chengxin Lithium Group, and Hainan Mining also own planned or operating projects across Zimbabwe, Namibia, Mali, and Ethiopia.",{"type":573,"attrs":627,"content":628},{"textAlign":49},[629],{"text":630,"type":578},"These investments are part of a vertical integration drive among Chinese processors keen to reduce costs while diversifying away from China’s main spodumene supplier, Australia. ",{"type":573,"attrs":632,"content":633},{"textAlign":49},[634],{"text":635,"type":578},"“Chinese processors see Africa as a low cost, accessible source of feedstock that is friendlier than Australia in terms of investment and foreign ownership,” Benchmark analyst Cameron Perks said.",{"type":573,"attrs":637,"content":638},{"textAlign":49},[639,641,646],{"text":640,"type":578},"Africa’s lithium mined supply is expected to surge by over five-fold from 2024 to the end of the decade, according to ",{"text":642,"type":578,"marks":643},"Benchmark’s Lithium Forecast",[644],{"type":586,"attrs":645},{"href":588,"uuid":49,"anchor":49,"target":49,"linktype":589},{"text":647,"type":578},".",{"type":649,"attrs":650,"content":652},"heading",{"level":651,"textAlign":49},4,[653],{"text":654,"type":578},"Lower grade but cost-competitive African spodumene",{"type":573,"attrs":656,"content":657},{"textAlign":49},[658],{"text":659,"type":578},"Material coming out of Africa generally has a lower lithium content, typically sold on a 2-6% SC basis, lower than the 5.5-6% SC basis Australian spodumene is typically sold at. ",{"type":573,"attrs":661,"content":662},{"textAlign":49},[663],{"text":664,"type":578},"Despite the lower concentration of African material, Chinese processors can still achieve overall cost reductions leveraging material from their own mining operations in the continent.",{"type":573,"attrs":666,"content":667},{"textAlign":49},[668],{"text":669,"type":578},"“Africa spodumene is cheaper than Australia for two reasons: first, it is an integrated product from their own mine, and second, it includes lepidolite as well, its grade varies from 3-5%,” said Leo Hu, Benchmark analyst.",{"type":573,"attrs":671,"content":672},{"textAlign":49},[673],{"text":674,"type":578},"Vertically integrating with African mines can also offer supply security to Chinese processors, an issue coming into sharper focus as declining lithium prices have led to some mine closures in Australia, where China gets most of its spodumene. ",{"type":573,"attrs":676,"content":677},{"textAlign":49},[678],{"text":679,"type":578},"Yahua’s Australian offtake partner Core Lithium suspended mining operations in January 2024 at its Grants open pit, part of the Northern Australian Finnis lithium project that is under contract to supply the Chinese processor.",{"type":649,"attrs":681,"content":682},{"level":651,"textAlign":49},[683],{"text":684,"type":578},"Zimbabwe legislates to climb lithium value chain",{"type":573,"attrs":686,"content":687},{"textAlign":49},[688],{"text":689,"type":578},"Currently, African chemicals processing capacity is negligible and most concentrate is shipped to China. ",{"type":573,"attrs":691,"content":692},{"textAlign":49},[693],{"text":694,"type":578},"“These companies all have sufficient lithium chemical conversion capacity in China for their African mining projects. They would prefer to spend money in China, where operating costs are cheaper, than in Africa,” Perks said.",{"type":573,"attrs":696,"content":697},{"textAlign":49},[698],{"text":699,"type":578},"However, policy shifts in African nations could encourage investment into local processing. Zimbabwe banned the export of lithium ore in 2022 and imposed a 5% tax on exports of lithium concentrate, a more refined product.",{"type":573,"attrs":701,"content":702},{"textAlign":49},[703],{"text":704,"type":578},"Zimbabwe appears intent on climbing further up the lithium value chain. In November 2023, it gave miners operating in the country until 31 March 2024 to submit their plans for facilities to produce lithium carbonate.",{"type":573,"attrs":706,"content":707},{"textAlign":49},[708],{"text":709,"type":578},"Benchmark anticipates the government’s call for submissions is aimed at encouraging local carbonate production before any potential future outright ban on concentrate exports. ",{"type":573,"attrs":711,"content":712},{"textAlign":49},[713],{"text":714,"type":578},"This would give time for the build up of value-added operations, as the country wants to avoid a build-up of concentrates domestically.","African lithium raw materials exports have increased over the past year as mines owned by Chinese lithium processors across the continent go online. Benchmark forecasts that 97% of Africa’s mined lithium supply in 2024 is set to come from projects owned by Chinese companies that also have lithium chemical processing capacity. Zimbabwe has been […]",[717],{"slug":561,"name":562,"content":718},{"job_title":564,"image":719,"bio":567,"linkedin":568},{"filename":566},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"609aeee4-e5ad-4f74-911e-a3589cb505b1\", \"id\": \"\"}-->","article",[723,726],{"slug":724,"name":725},"critical-minerals","Critical Minerals",{"slug":727,"name":8},"lithium","private",{"id":49,"alt":730,"name":608,"focus":608,"title":730,"source":608,"filename":731,"copyright":608,"fieldtype":732,"meta_data":733,"is_external_url":51},"Cargo being loaded onto a ship at the Indian Ocean port of Beira, Mozambique.","https://a.storyblok.com/f/287943243085208/da778696ad/bm-beira-port-mozambique.jpg","asset",{"alt":730,"title":730,"source":608,"copyright":608},"Feb 16, 2024","16th February 2024",[],[],1780932598243]