Zimbabwe's diamond industry is getting wrecked by lab-grown stones and weak global pricing, according to Minerals Marketing Corporation head Nomusa Moyo. The country's lithium sector is also taking hits from depressed international markets. Mimosa Mining Company paused platinum exports for months over a tax dispute, and Bikita Minerals stopped shipping lithium petalite concentrate because prices tanked hard.
Some good news came late in the third quarter when platinum group metals jumped 54.5 percent, ferrochrome rose 24 percent, and lithium climbed about 7.5 percent. The mining sector is still struggling with massive electricity costs and logistics problems that are messing with production timelines. Spodumene sales hit 1 million metric tonnes worth $386.9 million, but that's actually down 11 percent in value from last year despite moving more volume.
MMCZ deployed officers at border posts to fight mineral smuggling and set up mandatory testing for exports. The corporation is working with police and customs on enforcement operations.
Some good news came late in the third quarter when platinum group metals jumped 54.5 percent, ferrochrome rose 24 percent, and lithium climbed about 7.5 percent. The mining sector is still struggling with massive electricity costs and logistics problems that are messing with production timelines. Spodumene sales hit 1 million metric tonnes worth $386.9 million, but that's actually down 11 percent in value from last year despite moving more volume.
MMCZ deployed officers at border posts to fight mineral smuggling and set up mandatory testing for exports. The corporation is working with police and customs on enforcement operations.
