Zimbabwe's Ban on Raw Mineral Exports Drives $1bn Quarterly Revenue Surge

In February 2026 Zimbabwe imposed a ban on exporting unprocessed minerals to promote domestic processing and value addition. The Minerals Marketing Corporation of Zimbabwe (MMCZ) reported that total mineral sales in the first quarter of 2026 reached 1.29 million metric tonnes worth US$983.85 million, a 27 % rise in volume and a 79 % jump in value versus the same period a year earlier.

Platinum‑group metals generated US$543.97 million, while lithium exports surged 106 % in value to US$178.64 million as the country now supplies about 15 % of China’s spodumene imports. Steel, coal and coke also posted strong gains, whereas diamond sales fell. MMCZ said the policy is on track to meet its US$3.5 billion annual revenue target, and officials highlighted the ban as “a defining moment in Zimbabwe’s mineral governance.” Nomusa Jane Moyo of MMCZ added that domestic lithium processing will push future export revenues past US$1 billion and cement Zimbabwe’s role in the global battery supply chain.