Zimbabwe’s lithium mining industry has caught the attention of billionaire entrepreneur Elon Musk, sparking ongoing discussions between Musk and President Emmerson Mnangagwa, according to Christopher Mutsvangwa, the spokesperson for the ruling Zanu PF party.
The potential investment from Musk, CEO of Tesla, a leading clean energy company specializing in electric vehicles and off-grid technologies, could provide a significant boost to the financially struggling country.
Zimbabwe has been actively identifying new deposits of lithium, often referred to as the “new white gold,” attracting interest from various global players, including China, which is home to major lithium battery manufacturers.
Mutsvangwa highlighted Musk’s interest during a routine press conference, using it as an opportunity to dismiss those who had wished Zimbabwe to remain isolated.
Musk’s interest in Zimbabwe’s lithium reserves is seen as a positive outcome of President Mnangagwa’s re-engagement strategy, which aims to reintegrate the country into the international community after years of isolation.
Additionally, another undisclosed Chinese billionaire has reportedly shown interest in the Zulu Mine, a lithium-producing site located near Bulawayo.
Experts estimate that Zimbabwe, with its abundant lithium resources and a significant number of ongoing exploration projects, could potentially meet 20% of the global demand for lithium.
The growing interest from influential figures like Musk and other prominent investors is seen as a testament to Zimbabwe’s changing perception and its potential to become a favored investment destination.