Zimbabwe export ban cuts raw lithium exports 20%, lifts SQM valuation
Zimbabwe has banned exports of raw lithium concentrate starting later this month, cutting about 20% of global supply from the world’s second-largest producer. The move sent shares of lithium producers including SQM sharply higher on expectations of tighter market fundamentals.
1. Zimbabwe bans raw lithium concentrate exports
Zimbabwe’s government has imposed a ban on raw lithium concentrate exports effective late February 2026, aiming to spur domestic processing and capture higher value. The measure is estimated to cut global supply by about 20% from the world’s second-largest lithium producer.
2. Market reaction and impact on SQM
Lithium producers including SQM saw shares jump sharply on expectations of tighter supply and improved pricing power. SQM’s established refining operations position it to benefit most from higher concentrate prices and potential margin expansion.