Chinese companies run the majority of Zimbabwe’s mines and are better positioned to expand domestic processing there. Lithium, often referred to as “white gold,” is essential to producing solar panels and the rechargeable batteries that power electric vehicles; and in 2022, demand pushed prices up by more than 100 percent. Even among Zimbabwe’s regional peers, U.S. companies have been left on the backfoot. For decades, African economists complained that foreign companies extracted minerals without benefit to citizens. Sonko, a former tax inspector, became popular among youth voters in 2016 when he exposed the use of offshore tax havens by foreign companies in Senegal.

Source: The North Africa Journal August 16, 2023 11:05 UTC