Namibia bans export of raw lithium and critical minerals
On Tuesday, June 6, 2023, the Namibian government approved the banning of unprocessed lithium and other critical minerals. The country plans to increase profits from the growing global demand for metals used in clean energy technologies. According to The Brief, the Ministry of Information announced that President Hage Geingob’s “cabinet approved the prohibition of the export of certain critical minerals such as unprocessed crushed lithium ore, cobalt, manganese, graphite, and rare earth minerals.” Namibia has large deposits of lithium, a key ingredient of renewable energy storage, and rare earth minerals like dysprosium and terbium, key ingredients of permanent magnets in electric cars and wind turbines batteries. Trace amounts of these minerals, however, can be exported with the approval of the minister of mines. In December, Zimbabwe imposed a ban on exporting unprocessed lithium to curb smuggling and encourage local processing. As reported by The Brief, the Namibian economy should now earn between $90.7 million and $245.5 million annually from this new arrangement. Last November, Namibia signed a provisional agreement with the European Union, which desires to reduce its reliance on China for critical minerals, for Namibia to supply the EU with rare earth minerals. As per The Brief, German Chancellor Olaf Scholz announced that Germany is willing to assist Namibia in building an infrastructure for processing lithium locally.
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