Chinese investment in Zimbabwe has now surpassed US$10 billion, Chinese Ambassador to Zimbabwe, Zhou Ding said.
Ding said this during the Zimbabwe-China Investment Symposium held in Harare yesterday.
He said China is increasingly backing Zimbabwe’s shift towards value addition, with growing investments moving beyond raw mineral extraction to local processing and industrial production.
Ding said the future of Zimbabwe’s mining sector lies in value addition, industrialisation and skills development.
“The future of Zimbabwe lies not only in extracting its natural resources but in processing them locally, creating industries, developing skills and generating sustainable employment,” Zhou said.
He said Chinese investments have become a key catalyst for Zimbabwe’s industrial transformation, spanning mining, manufacturing, agriculture, energy and digital infrastructure.
According to the Chinese Ambassador, Chinese investment is supporting local industries, creating employment opportunities and contributing significant tax revenues to the economy.
He said flagship projects such as the Dinson Iron and Steel Plant in Manhize demonstrate the benefits of processing minerals within Zimbabwe rather than exporting raw materials.
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The integrated steel plant, developed at a cost of US$1.5 billion, is producing more than 500 000 tonnes of steel annually, with output expected to rise to 1.2 million tonnes.
“Sixty percent of this production is exported, directly generating the foreign currency that is the lifeblood of Zimbabwe’s economy,” Zhou said.
He also highlighted growing investment in Zimbabwe’s lithium value chain, noting that Chinese companies have invested more than US$2 billion in the sector since 2021.
Major projects include the Arcadia lithium sulphate plant, developed by Prospect Lithium Zimbabwe in partnership with China’s Huayou Cobalt, and Sinomine’s lithium sulphate processing plant at Bikita Minerals.
He said the continued expansion of value addition projects is expected to strengthen Zimbabwe’s position as a leading mining and manufacturing destination in Africa.
