Zimbabwe is among one of the few countries in the world that boast of vast deposits of rare earth elements (REE) that are concealed in some very common places. These minerals are a total departure from the usual gold, platinum, diamonds and chrome that Zimbabwe is greatly endowed with.

REE are a group of 17 metals with unique properties that make them critical in the manufacture of high technology gadgets that people use every day. The 17 REE are cerium (Ce), dysprosium (Dy), erbium (Er), europium (Eu), gadolinium (Gd), holmium (Ho), lanthanum (La), lutetium (Lu), neodymium (Nd), praseodymium (Pr), promethium (Pm), samarium (Sm), scandium (Sc), terbium (Tb), thulium (Tm), ytterbium (Yb) and yttrium (Y).

REE are insulated in the fabric of modern life and have transformed industries and our daily lives. They are essential in numerous electrical and electronic components used in appliances, audio and video equipment, computers, automobiles and communications systems.

Magnets containing neodymium are also used in green technologies such as the manufacturing of wind turbines, electric motors, phosphors for TV monitors, catalyst for cars and chemical refineries, rechargeable batteries for hybrid and electric cars, as well as numerous optical and medical devices.

Zimbabwe is currently sitting on bountiful deposits that can unlock both domestic and foreign direct investment and assist the rapidly recovering economy.

The REE sector is unravelling new opportunities for the country’s investment landscape, making Zimbabwe an enticing investment destination.

Although the country has certain geological settings that could be considered for searching for REE, there has not been any systematic exploration for the commodities. Information about possible occurrences of REE in Zimbabwe was generated in the mid-1940s during a United Kingdom Atomic Energy Authority (UKAEA) programme for searching for uranium and thorium in Commonwealth countries.

Although the programme led to identification of REE occurrences in some geological units, the combined factors that the Agency was looking for uranium, and that the rare earth minerals are weakly radioactive, led to the overlooking of deposits of REE. Once a radioactive anomaly was found to be the result of a rare earth mineral, no further investigations were carried out since REE were not important at that time. There are however a few prospects with information suggesting possible occurrences of commercial deposits of REE . These are:

Local players are also taking interest in this area as evidenced by a 30-year-old passionate miner, Nigel Kalumbu, who is currently undertaking a geological survey at his claim in Manicaland. He is confident that in si months some mining activities will take off and there will be full exploitation of the REE deposits. Kalumbu believes that Zimbabwe is set to play a pivotal role in the technology sector, as exploration of these minerals expands.

Zimbabwe Investment and Development Agency (Zida) chief investments and corporate affairs officer, Tino Kambasha, said: “The REE sector has historically been dominated by one main country, which currently controls over 90% of the worlds’ supply. We see a huge opportunity for both local and foreign investors to take advantage of this. The mining sector is targeting to grow into a $12 billion sector, and we would like to see how as Zida we can assist them achieve this target.”

REE ore deposits are found all over the world. The major ores are in China, the United States, Australia and Russia, while other viable ore bodies are found in Canada, India, South Africa and Southeast Asia.

About Zida

Zida is an investment agency responsible for promoting and facilitation of both local and foreign investment in the country.

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Phone: +263 8688002639–42 Phone: +263 24 2757933

Phone: +263 24 2780142 - 3 E-mail: info@zidainvest.com