Italy targets Zimbabwe’s rare earth minerals; Turkey in the hunt too

By Own Correspondent

ITALY has expressed an interest in Zimbabwe’s rare earth mineral resources, becoming the second country to do so after Turkey.

The development comes Zimbabwe increasingly becomes a focal point for global powers seeking alternatives to China’s near-monopoly on rare earth elements.

Italy’s recently appointed ambassador to Zimbabwe, Giuseppe Giacalone, told the Italian media that Harare presents “interesting opportunities” in rare earths and other critical minerals, describing the country as relatively stable and economically dynamic.

He was speaking on the margins of a conference at Italy’s foreign ministry at the Farnesina in Rome.

“I have noticed that there are many various margins and spaces to strengthen our presence,” Ambassador Giacalone told ANSA news agency.

“Italians are well liked, there is activity in the cooperation sector, in aid and assistance to the most vulnerable and needy groups, assistance to young people.

“Then there are also interesting opportunities in the economic trade side, especially on the rare raw materials sector.”

He continued; “Zimbabwe is a relatively stable country, rich in these minerals, where there is already an important Italian presence.

“And my goal is to further stimulate the presence of all our companies that are interested in strengthening, in collaborating with this country and in strengthening their presence in this market where, I repeat, there are various activities and various margins to grow.”

Last week, Türkey’s Ministry of Energy and Natural Resources announced the launch of a new initiative focusing on Africa’s mineral wealth, with Zimbabwe emerging as a key country of interest due to its vast rare earth mineral reserves.

According to a report by Türkiye daily, citing a briefing delivered to Turkish Parliament’s Foreign Affairs Committee, the ministry has started a dedicated study on Zimbabwe’s critical mineral resources.

Rare earth elements as well as lithium are critical to Europe’s industrial capacity from automotive production to renewable energy infrastructure.

Zimbabwe holds the world’s second-largest rare earth reserves after China and ranks second globally in platinum and fifth in lithium.

However, the country currently lacks commercial-scale rare earth oxide separation facilities.

“Any meaningful contribution to global supply chains requires substantial infrastructure development, including beneficiation facilities, separation plants, and waste management systems for radioactive materials,” reads an analysis of the country’s prospects.

“The capital requirements for commercial-scale processing facilities represent hundreds of millions in investment, requiring long-term financing commitments and technical partnerships with experienced operators.”