US stock movement | Lithium mining concept stocks strengthen Sigma Lithium(SGML.US) surges over 32%

LootboxPhobia · 2026-02-26T02:44:58+00:00

Zimbabwe suspends exports of lithium concentrate and raw ore to promote local processing, leading to a rise in lithium mining concept stocks, with Sigma Lithium soaring 32%. The Minister of Mining stated that the ban is effective immediately and will only be lifted if the requirements set by the government are met.

LootboxPhobia

2026-02-26 02:44:58

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Zhihui Finance APP learned that on Wednesday, lithium mining concept stocks strengthened, with Sigma Lithium (SGML.US) surging over 32%, Albemarle (ALB.US) rising more than 8%, and Lithium Americas (LAC.US) increasing over 3%. According to reports, Zimbabwe has suspended the export of lithium concentrate and ore, aiming to encourage mining companies to establish processing operations in the country. Zimbabwe’s Minister of Mining stated on Wednesday that the export ban is effective immediately until further notice. Official data shows that Zimbabwe has one of the largest lithium reserves in Africa and is one of the world’s major producers, with estimated resources of 126 million tons.

The Zimbabwean Minister of Mining said the ban will only be lifted if miners comply with government requirements. Last year, the country announced it would ban lithium concentrate exports by 2027, as part of efforts to attract foreign mining companies to develop refining operations locally.

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