China’s Zhejiang Huayou Cobalt Ltd. has revealed plans to build a lithium carbonate plant in Zimbabwe, the country’s mines minister said.

Zimbabwe’s mining ministry said the plant will process lithium extracted from the country’s substantial reserves, aiming to meet rising demand from electric‑vehicle makers. The project aligns with the government’s strategy to diversify exports beyond traditional copper and gold. It also promises job creation and technology transfer for local firms.

Investors eye the development as it could unlock a new supply corridor for battery materials. While the exact investment size remains undisclosed, analysts expect a multi‑million‑dollar outlay, given the scale of lithium processing facilities elsewhere. The announcement also signals China’s growing foothold in Africa’s critical‑materials sector.

The project could reshape Zimbabwe’s mining landscape, attracting foreign capital and boosting the country’s export portfolio. Local stakeholders emphasize the need for transparent environmental standards to prevent resource mismanagement. As the plan moves forward, market watchers will track licensing milestones and funding commitments to gauge the venture’s feasibility for investors and potential partners valuation.