Several listed companies respond to the suspension of lithium ore exports in Zimbabwe.

On February 26, the opening of the main lithium carbonate futures contract rose more than 11%. At the same time, the A-share lithium mining sector opened high. On the news front, on February 25 local time, the Zimbabwe Ministry of Mines issued a document stating that all exports of raw ore and lithium concentrate have been suspended, with immediate effect. This export suspension includes all minerals currently in transit, with no clear timeline for resumption. The Zimbabwe Ministry of Mines stated that in the future, only mining companies holding valid mining rights certificates and approved beneficiation plants have the right to export minerals. It was reported that listed companies such as Shengxin Lithium Energy, China Minmetals Resources, Tianhua New Energy, and Yuhua Group all have lithium mining layouts in Zimbabwe. What impact does this new policy in Zimbabwe have on A-share listed companies operating locally? On February 26, a spokesperson for China Minmetals Resources responded to reporters, saying, "All Chinese lithium concentrate exports in Zimbabwe have been completely stopped, awaiting further policy details. Currently, Chinese enterprises have very little deep processing of lithium in the local area. The company is considering relevant plans for extending the industrial chain, but it is inconvenient to disclose them now." A spokesperson for Huayou Cobalt told reporters that the Zimbabwean "ban" is mainly aimed at regulating illegal exports, and the company's mining license is issued by the local Ministry of Mines, so the specific impact is still uncertain. A spokesperson for Yuhua Group told reporters, "The company has already shipped all the lithium concentrate produced in Zimbabwe. In the recent period, the local export suspension will not have any impact on the company's production end." The spokesperson further stated, "Based on the document, traders and agents who do not have mining licenses and beneficiation qualifications in the local area no longer have export qualifications. However, Yuhua Group can continue to apply for exports, but needs to supplement the relevant information in the export permit process, and the company has already begun to proceed with this."