Zimbabwean lithium miners seek tax delay

ZIMBABWE lithium miners have requested the government postpone implementing a concentrate tax until late 2026, arguing they need time to raise capital for processing facilities amid depressed market conditions, said Bloomberg News.The southern African country levies 5% value-added tax on lithium concentrates unless they are beneficiated to certain levels. Producers have appealed for a moratorium to secure funding for processing plants, said the newswire citing a position paper from the Zimbabwe Chamber of Mines.The request comes as Zimbabwe prepares to ban concentrate exports from 2027, compelling mining firms to establish local processing operations. The nation has emerged as a significant supplier of lithium concentrate to Chinese refineries after companies including Chengxin Lithium and Zhejiang Huayou Cobalt invested billions of dollars developing mines, said Bloomberg.Some operators are already moving towards higher-value production. Bikita Minerals, the local unit of Sinomine Resources, and Arcadia Lithium are both building facilities to process ore into lithium sulphate, the government said.However, Finance Secretary George Guvamatanga said the treasury would not alter its position, noting parliament had directed against any further delays on the tax.The dispute highlights challenges facing Zimbabwe’s lithium sector as it attempts to move up the value chain whilst operators contend with weak prices that remain well below recent peaks, making it difficult to justify investment in new processing infrastructure, said Bloomberg News.The post Zimbabwean lithium miners seek tax delay appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com