--- title: "Zimbabwe Lithium Disruption Has Goldman Eyeing This Trade" description: "Goldman analyst James McGeoch is eyeing a trading opportunity following Zimbabwe's immediate suspension of lithium concentrate and raw mineral exports to enforce local processing. This disruption, aff" type: "news" locale: "en" url: "https://longbridge.com/en/news/277043418.md" published_at: "2026-02-26T12:47:18.000Z" --- # Zimbabwe Lithium Disruption Has Goldman Eyeing This Trade > Goldman analyst James McGeoch is eyeing a trading opportunity following Zimbabwe's immediate suspension of lithium concentrate and raw mineral exports to enforce local processing. This disruption, affecting a significant portion of global lithium supply, has already influenced Chinese lithium prices, which rose by 14% post-announcement. McGeoch notes that Zimbabwe's production accounts for about 10% of ex-China supply, and the ban will remain until miners comply with government regulations. He anticipates further price increases in the lithium market as a result of this development. Earlier news from Bloomberg that Zimbabwe has suspended exports of lithium concentrates and raw minerals to force miners into local processing has **caught the attention of Goldman analyst James McGeoch**. He sees a potential trading opportunity in a mineral-exploration company that could be positioned for upside. Let's begin with the report that Mines Minister Polite Kambamura told reporters earlier that the export ban is effective immediately until further notice. Zimbabwe has one of the largest lithium reserves in Africa and is among the top global producers. > Zimbabwe Suspends Export of Raw Minerals and Lithium Concentrates. > > Mines Minister Hon. Dr. P. Kambamura has ordered the immediate suspension of all exports of raw minerals and lithium concentrates, including consignments already in transit, to enforce in-country value addition… pic.twitter.com/acX0CmntoX > > — Zimbabwe Economic Review (@ZimbabweReview) February 25, 2026 > IMMEDIATE SUSPENSION OF EXPORT OF RAW MATERIALS AND LITHIUM CONCENTRATES > > The Minister of Mines and Mining Development, Hon. Dr. P. Kambamura (MP), has announced an immediate suspension on the export of all raw minerals and lithium concentrates, effective immediately.… pic.twitter.com/Mw1Ua4yfIl > > — Nick Mangwana (@nickmangwana) February 25, 2026 Zimbabwe has become a global powerhouse in supplying lithium to Chinese refineries. The latest USGS data shows Zimbabwe produced an estimated 22,000 metric tons of lithium in 2024, versus a reported world total of 240,000 metric tons. That works out to about 9.2% of reported global mine output. Such a disruption piqued McGeoch's interest: > ***REMEMBER this** : Its Africa - recetn example is Cobalt - Feb 2025 put an export ban in place, Oct 2025 they announced export quotas, rolled them forward into 2026 - end Feb they have exported c.3k tonnes v typical of 20kt. **Expect the mkt will price this disruption as per the below and there was already a willingness/desire to own Lithium which will amplify basis this.*** > > *Continue to point to GSCBGLLI Index...... **Want a small cap i have been keeping an eye on QTWO CN*** > > *McGeoch pointed out Zimbabwe's trade and production data and how **Chinese lithium prices are already reacting to the disruption**:* > > *In terms of production, GIR had forecast 160kt LCE (Lithium Carbonate Equivalent) of production in Zimbabwe for 2026 – this accounts for roughly 10% of ex-China supply.* > > > > *To put this chart into context, in LCE terms, 2025 exports of Zimbabwe Spodumene to China totalled 160kt LCE, virtually all their production.* > > > > ***What does this mean for price action?*** > > *Post Chinese New Year holiday, GFEX prices were up 10% (close on close), evidence of supported prices before this headline in an already fundamentally tight market. On the Wuxi exchange (a private onshore exchange that trades around the clock), **lithium carbonate prices have rallied 14% today post-headline, from roughly 160k CNY/MT to 185k CNY/MT. We expect GFEX prices (onshore lithium carbonate exchange) to move higher on this tomorrow.*** > > McGeoch wrote in a separate note, "**Zim is the marginal spodumene supplier. The ban will only be lifted if miners comply with government requirements. ...Zim is 8% on our 2026 supply numbers**." He added: > *Team just running some numbers. More recently the Lithium price closed today at RMB 166k , we are 13% off the highs of 190k in Jan. **Clearly will be limit up, WUXI is +12% on this headline. already .... We expect new highs without a doubt here**, China came back and bought it pre this headline, now we all catch up. Its been an ESS story and i see that theme getting stronger not weaker.* Here is where China's 99.5% battery-grade lithium carbonate prices stand after the 2021-22 boom-and-bust. *McGeoch and Goldman's commodities desk have certainly taken an interest in lithium this morning. Professional subscribers can read the full note at our new Marketdesk.ai portal.* Loading recommendations... ### Related Stocks - [LIT.US - Global X Lithium & Battery Tech](https://longbridge.com/en/quote/LIT.US.md) - [LITM.US - Snow Lake Resources](https://longbridge.com/en/quote/LITM.US.md) - [09696.HK - TIANQI LITHIUM](https://longbridge.com/en/quote/09696.HK.md) - [002466.CN - TLC](https://longbridge.com/en/quote/002466.CN.md) - [BATT.US - Amplify Lithium & Battery Tech ETF](https://longbridge.com/en/quote/BATT.US.md) - [002460.CN - Ganfeng Lithium](https://longbridge.com/en/quote/002460.CN.md) - [01772.HK - GANFENGLITHIUM](https://longbridge.com/en/quote/01772.HK.md) - [LITP.US - Sprott Lithium Miners ETF](https://longbridge.com/en/quote/LITP.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | 高盛：津巴布韋鋰礦出口禁令暫難解除，鋰價將 “毫無懸念” 創新高！ | 高盛強調，只有當礦企完全遵守津巴布韋政府的本土化加工要求時，這項禁令才可能被解除。以史為鑑，剛果（金）2025 年 2 月實施的鈷出口禁令最終在當年 10 月才演變為出口配額制。 | [Link](https://longbridge.com/en/news/277053979.md) | | Snow Lake Resources Ltd. 發佈 2026 財年股東信 | Snow Lake Resources Ltd. 發佈了一封股東信，詳細説明了其在收購 Global Uranium and Enrichment Limited 後的 2026 財年的戰略舉措。主要關注點包括推進美國鈾項目、支持鈾濃縮技術 | [Link](https://longbridge.com/en/news/276128555.md) | | TNR Gold NSR 特許權使用費更新 - 贛鋒鋰業的 Mariana 鋰礦正式投產 \| TRRXF 股票新聞 | TNR Gold Corp. 宣佈贛鋒鋰業已在阿根廷的馬里亞納鋰項目開始生產，TNR 在該項目中持有 1.5% 的淨礦產收益特許權使用費。該項目年產能為 20,000 噸氯化鋰，旨在提升盈利能力和競爭力。贛鋒在阿根廷投資了多個項目，促進了當 | [Link](https://longbridge.com/en/news/276606820.md) | | 現代汽車的供應商贛鋒鋰業已開始生產半固態電池 | 中國供應商贛鋒鋰業已開始生產能量密度為 650 Wh/kg 的半固態電池，並同時進行全固態電池組的試生產。作為現代汽車等公司的主要鋰加工商，贛鋒正將重點轉向先進電池技術。這些新電池具有無應力陽極和高耐熱性，支持快速充電並減輕重量，適用於機器 | [Link](https://longbridge.com/en/news/276599842.md) | | 瑞銀堅持對贛鋒鋰業公司（GNENF）的買入評級 | 在今天發佈的一份報告中，瑞銀對贛鋒鋰業維持了買入評級，目標價為 74.35 港元。目前，分析師對贛鋒鋰業的共識評級為適度買入，平均目標價為 60.26 港元 | [Link](https://longbridge.com/en/news/276073970.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.