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<Research>BofAS Expects Limited Impact of Zimbabwe's Tightening Regulations on CATL
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The Zimbabwe Ministry of Mines recently announced an immediate suspension of all exports of raw ores and lithium concentrates, BofA Securities said in a research report. This move aims to enhance supervision and accountability in the mining industry. In the future, only companies with valid mining rights and approved beneficiation (processing) facilities will qualify for exports, while exports by agents and third-party traders are prohibited. Zimbabwe accounted for approximately 11% of global lithium supply in 2025, the broker said, citing data. The new measures are expected to potentially drive up lithium prices in the short term, causing short-term turbulence in lithium prices. However, the broker believed that the long-term impact on CATL (03750.HK) will be limited. BofA Securities explained that miners can negotiate with the government to regain export licenses, which should alleviate supply tensions. It was believed that CATL has the ability to pass on most upstream cost pressures to customers, especially energy storage companies. The broker reiterated its Buy rating on CATL, with a target price of HKD615. AASTOCKS Financial News Website: www.aastocks.com |
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