After Indonesia limited nickel production, Zimbabwe has taken similar action by classifying 14 minerals, including nickel, lithium, and cobalt, as “critical minerals” under strict control. The government will take mandatory stakes in mining projects and restrict exports of raw or low-value minerals.

This move aims to reduce reliance on raw material exports and promote local processing, forcing foreign investors to build facilities in Zimbabwe. As a result, the country hopes to gain more value and strengthen its position in the global supply chain.

Although Zimbabwe’s nickel output is relatively small, these policies may tighten global supply, especially alongside Indonesia’s restrictions. With strong demand from electric vehicles and energy storage, nickel prices are likely to stay firm and volatile in the short term, while long-term trends will depend on future demand.