Financial Wire

Market Chatter: Zimbabwe Grants Lithium Export Quotas to Chengxin Lithium, Sinomine Resource

-- Zimbabwe has awarded lithium concentrate export quotas to two Chinese mining firms, Chengxin Lithium (SHE:002240) and Sinomine Resource (SHE:002738), just two months after suspending all raw mineral exports, Reuters reported Monday.

The move follows February's ban over alleged malpractices and leakages, according to the report. Under new rules, exporters must also process more material locally.

Chengxin Lithium received a quota matching its 290,000-ton annual capacity, while Sinomine Resource's 200,000-ton allowance equals about its monthly output.

Shares of Chengxin Lithium closed 8% higher Tuesday.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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