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(Bloomberg) — Zimbabwe has banned the export of unprocessed raw lithium with immediate effect as part of efforts to have the key raw material in electric-vehicle batteries processed locally.

“No lithium bearing ores, or unbeneficiated lithium whatsoever, shall be exported from Zimbabwe to another country” without written permission, an order issued by Mines Minister Winston Chitando states.

Mining companies that are building processing plants will be excluded from the directive, Deputy Mines Minister Polite Kambamura said by phone on Tuesday.

Lithium has been on a tear, surging more than 1,100% to a record in the past two years, as supply has struggled to keep up with rampant demand. Rio Tinto Group predicts half of all car sales could be EVs by 2030, up from 9% last year, and mining companies have been scouring the world for opportunities to bring on new supplies.

Read more at: https://finance.yahoo.com/news/raw-lithium-exports-banned-zimbabwe-151918459.html