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Namibia has banned the export of lithium and other critical unprocessed minerals in an attempt to take advantage of the growing global demand for metals used in clean energy technologies.
The southern African country has significant deposits of lithium, which is crucial for renewable energy storage, and rare earth minerals such as dysprosium and terbium, needed for permanent magnets in electric car batteries and wind turbines.
Only small quantities of the specified minerals will be allowed, subject to the approval of the Minister of Mines.
Namibia is one of the world’s leading producers of quality uranium and diamonds, but its battery metals are attracting increasing interest as the world moves away from polluting fuels and towards renewable energy.
Lithium – International Minor Metals – euro/ton – Powered by Commodity Evolution
Last year, Namibia signed an agreement to supply rare earth minerals to the European Union, as part of the bloc’s plan to reduce its dependence on China for critical minerals.
Companies with critical minerals projects in Namibia include Australian-listed Prospect Resources, Arcadia Minerals and Askari Metals, Celsius Resources and Namibia Critical Metals are developing cobalt and rare earth projects respectively.
Terbium euro/kg – Powered by Commodity Evolution
Dysprosium euro/kg – Powered by Commodity Evolution
Another African lithium producer, Zimbabwe, banned exports of lithium ore last December, allowing only the shipment of concentrates. Zimbabwe has stated that lithium miners operating in the country will undertake to produce lithium locally for batteries and may impose a tax on lithium concentrate exports in the future.
Lithium – Battery Elements – euro/ton – Powered by Commodity Evolution
