Zim News Blog -NEWS NETWORK

HARARE – Zimbabwe is banking on a surge in mineral export earnings and a strategic shift toward value-added processing to cushion its economy from mounting global uncertainty triggered by escalating tensions in the Middle East.

Government projections indicate that mineral exports could generate between US$6.5 billion and US$7 billion this year, providing a vital source of foreign currency and fiscal stability as geopolitical tensions between the United States and Iran continue to disrupt global commodity and energy markets.

The conflict has intensified concerns over oil supply routes, particularly through the Strait of Hormuz, a critical global shipping corridor, pushing energy prices higher and raising fears of broader economic fallout across developing economies. While many African nations face increased import costs and inflationary pressures, Zimbabwe is positioning its mining sector as a buffer against external shocks.

Mining remains the backbone of Zimbabwe’s export economy, contributing between 13% and 15% of gross domestic product and accounting for a significant share of foreign currency earnings. Authorities believe rising prices for gold, improving market conditions for platinum group metals (PGMs), and growing lithium production will strengthen the country’s fiscal position in the second half of the year.

Mines and Mining Development Minister Dr Polite Kambamura said the sector had already generated approximately US$2 billion in revenue inflows during the first half of the year, with expectations of significantly higher earnings as production expands.

“In the first half of the year, we had about US$2 billion in revenue inflows to the fiscus. Going forward, we are looking at around US$6.5 billion to US$7 billion in export receipts,” Kambamura said.

He attributed the expected growth to strong global demand for precious and critical minerals.

“We expect this to be anchored by minerals such as gold. World market prices for gold are continuing to firm up. PGM prices are also recovering, and the emergence of lithium sulphate products is a feather in our cap in terms of improving revenue for the Government,” he said.

The government’s strategy extends beyond increasing mineral output. Authorities are also accelerating efforts to move Zimbabwe up the global minerals value chain by promoting local processing and beneficiation, particularly in the lithium sector.

Zimbabwe, which possesses some of Africa’s largest hard-rock lithium deposits, has intensified policies aimed at capturing greater value from the battery minerals boom. The country recently imposed an indefinite ban on the export of raw minerals and lithium concentrates, compelling mining companies to process more of their output domestically.

The policy shift is expected to increase investment in refining facilities and reduce Zimbabwe’s reliance on exporting low-value raw materials.

A key milestone in that strategy is the planned production of lithium carbonate at the Arcadia Lithium Mine in Goromonzi. Lithium carbonate is a higher-value product widely used in electric vehicle batteries and energy storage systems, offering significantly greater export returns than unprocessed concentrates.

The government argues that beneficiation will not only increase export revenues but also create industrial jobs, stimulate technology transfer and strengthen Zimbabwe’s position within global clean-energy supply chains.

However, authorities acknowledge that governance challenges remain a major obstacle to achieving the sector’s full potential.

Kambamura identified corruption, administrative inefficiencies and mineral export leakages as critical threats to revenue generation and investor confidence.

“All miners should be treated the same, no matter where they come from. I want ministry officials to serve the grandfather from Kadoma in the same manner they serve influential people. We are here to serve the people of Zimbabwe without fear or favour,” he said.

The minister added that performance within the mining ministry would increasingly be judged by measurable results rather than policy declarations.

The government’s tougher stance on mineral exports stems partly from concerns over under-declaration and irregularities within the export system. Officials say widespread leakages and compliance failures prompted authorities to accelerate reforms that were originally scheduled for implementation in 2027.

In February, the Mines Ministry announced the immediate suspension of exports of raw minerals and lithium concentrates, citing national interests and the need to strengthen accountability across the sector.

The move forms part of a broader effort to tighten regulatory oversight, improve transparency and ensure that Zimbabwe captures a greater share of the wealth generated from its mineral resources.

As global geopolitical tensions continue to reshape commodity markets, Zimbabwe is increasingly betting that its abundant reserves of gold, platinum and lithium can provide both a shield against external economic shocks and a foundation for long-term industrial transformation.

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DUBAI, United Arab Emirates — The United States and Iran reached an initial agreement Monday that would extend their shaky ceasefire and lead to the reopening of the Strait of Hormuz, but significant challenges remain to ending the war, including whether Israel will continue its offensive in Lebanon.

Details of the deal were not immediately released, but it appeared that it would not be implemented until it is signed, which mediator Pakistan said would happen Friday in Geneva. Even if the strait — a crucial waterway for the world’s oil and natural gas — fully opens then, it will likely take months for the global energy crisis sparked by its closure to ease.

Israel’s defense minister said Monday that the country wouldn’t withdraw from land seized in Lebanon, where Israel is fighting the Iranian-backed Hezbollah militant group. Israel joined the U.S. in launching the war on Feb. 28, but it is not party to the deal. A spokesman in Prime Minister Benjamin Netanyahu’s office said Israel will continue to defend itself against any threat to its security.

That alone could scuttle the deal, since Iran has insisted any agreement to end the war include an end to the fighting in Lebanon.

The agreement also faces other major challenges. It gives just 60 days to decide what to do about Iran’s stockpile of highly enriched uranium and its nuclear program — which the U.S. and Israel worry could be used to build an atomic weapon, despite Tehran’s insistence that it is peaceful. It took years for Iran and world powers to negotiate a 2015 agreement to rein in Tehran’s nuclear program.

President Donald Trump unilaterally withdrew the U.S. from that accord in his first term, setting the stage for the tensions that culminated in the current war, which has killed thousands across the Middle East, including the top leaders of Iran’s theocracy, and raised the prices of fuel, food and other basic goods far beyond the region.

The Strait of Hormuz won’t open until the deal is signed

The United States and Iran reached an initial agreement early Monday to open the Strait of Hormuz and further extend a shaky ceasefire in the Iran war, potentially allowing desperately needed oil and natural gas to reach the global market.

Trump, who faced pressure to end the war ahead of congressional midterm elections in November, hailed the agreement on social media, saying he had authorized the Strait of Hormuz to open and the U.S. blockade of Iranian ports to end. He later said the strait wouldn’t open until Friday.

Iran’s deputy foreign minister, Kazem Gharibabadi, confirmed the agreement on state television but said Iran would not start implementing it until it was signed.

Early in the war, Iranian attacks on ships brought traffic in the crucial waterway — through which a fifth of the world’s oil and natural gas passed before the conflict — to a near standstill. Trump implemented a blockade in response.

The closure of the strait, Iranian attacks on Gulf energy infrastructure and the blockade sent fuel prices skyrocketing, and the knock-on effects rippled through the world economy. Energy experts say it will likely take months before energy companies can resume operations to the point of meeting the world’s demand.

Iranian and U.S. officials will hold preparatory meetings in Doha, Qatar, this week before the signing, said a diplomat with direct knowledge of the talks, who spoke on condition of anonymity to discuss the closed-door meetings.

Vice President JD Vance said an interim deal to end the conflict was electronically signed Sunday ahead of the planned ceremony in Switzerland. The White House hopes to release the memorandum of understanding in the coming days, he said.

“I think when people see this deal … they’re going to realize that this is going to make the whole region safer,” Vance said Monday in an appearance on CNBC’s “Squawk Box.”

Israel says it won’t withdraw from Lebanon

The success of the deal rests at least partially on what happens between Israel and Hezbollah in Lebanon. Israel’s bombing of Beirut’s southern suburbs on Sunday nearly derailed the negotiations, and a previous attack led Iran to fire on Israel and Israel to fire back.

Defense Minister Israel Katz, meanwhile, said Israel plans to stay “indefinitely” in land it holds in Lebanon, Syria and the Gaza Strip. Over the past 2 1/2 years, Israel has taken control of areas in Gaza, Lebanon and Syria amounting to 1,000 square kilometers (386 square miles) of territory.

Katz also threatened that if Iran attacks Israel over its strikes in Lebanon, Israel will strike Iran with “great force.”

In response to questions about where Israel stands on the deal, David Mencer, a spokesman in Netanyahu’s office, told The Associated Press that Israel and the U.S. remain fully aligned on preventing Iran from obtaining nuclear weapons. But he added that Israel will not tolerate attacks from Hezbollah on its territory and will continue to act against those who seek to harm its citizens.

Israel and the U.S. began the war apparently in lockstep, but the war has created deep fractures in that close relationship, with Trump eager to end a conflict that is deeply unpopular with the American public and Netanyahu intent on destroying Hezbollah. Trump appears to have grown increasingly frustrated with the Israeli leader, even occasionally publicly insulting him, including telling The New York Times on Sunday that he was a “very difficult guy.”

Many Lebanese travel to check on homes

In a sign of the tenuousness of the deal, the Lebanese army called on residents not to rush to return to border villages, saying they should follow military instructions because of the danger of “Israeli violations and aggression.”

Many Lebanese who had fled following Israeli evacuation orders and intense fighting were heading south, however, to check on their homes. Celine Fayad, driving south, said she will test how far she could go. Her village, Aitaroun, is along the border with Israel. It was among the first to be occupied and lies in ruins.

“We were expecting to return,” she said. “Thanks to Iran.”

Ali Haidar was among the first to return to Nabatiyeh, the southern city at the heart of the latest Israeli military operations, where many central buildings have been reduced to dust.

“This used to be our home, our childhood home where we have all of our memories. This is where we grew up. Now it’s gone,” Haidar said. “We will return to rubble and sand. It’s better than being displaced.”

In its first public statement after the deal’s announcement, Hezbollah credited Iran with a “major achievement” in reaching the agreement, which it said could lead to “the full liberation of our land, the return of our prisoners to their homeland and families,” and reconstruction of war-devastated areas.

The militant group added that “there will be no return to the situation that existed before March 2,” referring to the 15 months leading up to its latest war with Israel, when a ceasefire was officially in place but Israel continued to carry out regular strikes in Lebanon that it said aimed to stop Hezbollah from rebuilding.

World leaders welcome the deal

Despite the uncertainties, world leaders from Europe to China welcomed the agreement. French President Emmanuel Macron, who is hosting Trump and other world leaders at a Group of Seven summit this week, said France and other Western partners are “ready to take action very quickly” to help restore normal shipping traffic in the strait once the U.S. and Iran agree to such a mission.

“We already have forces in the area,” including France’s nuclear-powered aircraft carrier, the Charles de Gaulle, Macron said in an interview Monday on French television TF1.

Others have expressed caution that the deal remains tentative. Luxembourg’s foreign minister, Xavier Bettel, noted: “It’s a long time till Friday.”

Source: AP

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NEW YORK — U.S. stocks rallied to their best day in two months, and oil prices fell Thursday after President Donald Trump called off his threat to bomb Iran in the evening. That raised hopes for a potential deal that could get the global flow of oil going again.

The S&P 500 jumped 1.8%, coming off a back-to-back drop that had yanked it back to where it was in early May. The Dow Jones Industrial Average leaped 929 points, or 1.9%, and the Nasdaq composite rallied 2.5%.

Stocks immediately veered higher in midday trading after Trump said on his social media network that “discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved” and that the time and place of a signing will “be announced shortly.”

A deal to end the war with Iran could reopen the Strait of Hormuz and allow oil tankers to carry crude again from the Persian Gulf to customers worldwide. The price for a barrel of benchmark U.S. crude sank 2.6% to $87.71. Brent crude, the international standard, fell 2.9% to $90.38, though it’s still above its roughly $70 price from before the war.

Worries had been high because the United States and Iran launched attacks over the past several days threatening a more than monthlong tenuous ceasefire.

High oil prices caused by the Iran war have sent inflation painfully upward, and a report on Thursday showed that prices at the U.S. wholesale level increased by more in May than economists expected. The effect is worldwide, and the European Central Bank on Thursday became the first major central bank to raise interest rates in response.

Higher rates can keep a lid on inflation. But they also slow economies and undercut prices for all kinds of investments, including stocks and cryptocurrencies. They hit investments seen as the most expensive in particular, and some critics are calling the artificial-intelligence industry a bubble where investment inflated too far.

Big swings for AI stocks have been yanking the U.S. stock market up and down over the last week, as they went from roaring to records to suddenly turning lower. The big concern is whether such stocks shot too high, too fast because of AI mania, and their careening moves have sometimes reversed direction by the hour.

AI stocks had already been rolling back up their roller coaster early Thursday, before Trump made his announcement on Iran.

Marvell Technology climbed 11.1%. It’s coming off a manic stretch where it plunged 16.7%, soared 9.6% and then fell more than 5% for two straight days. Just before that, it had a one-day surge of 32.5% that was its best in history when Nvidia CEO Jensen Huang suggested it could be “the next trillion-dollar company.” It was worth a bit more than $190 billion at the time.

Companies involved in the making of chips, meanwhile, jumped to some of the market’s biggest gains. Lam Research leaped 12.7%, and KLA climbed 12.9%.

U.S. stocks are recovering some of their losses for the week in early trading.

They helped offset an 8.5% drop for Oracle. It reported a stronger profit for the latest quarter than analysts expected, but it also said it expects to raise $40 billion in cash this fiscal year through borrowing and sales of its stock. That comes after it raised $48 billion last fiscal year to help pay for AI investments.

Other companies’ stocks have also been punished recently for announcing heavy spending on AI, as the question remains whether such investments will produce the profits and productivity that AI proponents are promising.

All told, the S&P 500 jumped 127.31 points to 7,394.30. The Dow Jones Industrial Average rose 929.97 to 50,848.75, and the Nasdaq composite rallied 640.16 to 25,809.66.

In the bond market, Treasury yields eased sharply as falling oil prices meant less upward pressure on inflation. The yield on the 10-year Treasury dropped to 4.45% from 4.55% late Wednesday, which is a significant move for the bond market.

A sustained drop in oil prices could allow the Federal Reserve to keep its main interest rate on hold this year, instead of hiking it as many traders suspected it may have to because of high inflation and a solid U.S. job market. Following Trump’s announcement, traders ratcheted back their bets for a possible increase to the federal funds rate this year, according to data from CME Group.

The Fed could even resume its cuts to interest rates under its new chair, Kevin Warsh, if inflation pressures subside enough. Trump appointed Warsh, and Trump has been loudly calling for lower interest rates.

Stocks of smaller companies can feel the biggest benefit from easier interest rates because many need to borrow money to grow, and the Russell 2000 index of the smallest U.S. stocks jumped a market-leading 3%.

In stock markets abroad, indexes rose modestly in Europe following a mixed finish in Asia.

London’s FTSE 100 rose 0.5%, and Hong Kong’s Hang Seng fell 0.7% for two of the world’s bigger moves.

Source: AP

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A third suspect linked to the brutal murder of a couple in the Kruger National Park has been arrested in Zimbabwe, marking a significant breakthrough in a complex cross-border investigation.

The South African Police Service (SAPS) confirmed that the 26-year-old Mozambican national, identified as Macandze Lionel da Marta, was apprehended after evading authorities and fleeing into Zimbabwe.

He is expected to be deported to Mozambique, where he will join two other suspects already in custody facing murder charges.

The case stems from the killing of Mossel Bay couple, Dina and Ernst Marais, whose bodies were discovered in the park in May.

The couple had been reported missing after failing to return from a trip to the Pafuri campsite. Post-mortem findings revealed that both victims had sustained fatal injuries inflicted with a sharp object.

The first two suspects were arrested in Mozambique earlier this month, following the recovery of the couple’s stolen vehicle in Chokwe.

Authorities say the arrests were the result of coordinated efforts between SAPS, Mozambican law enforcement, park authorities, and other regional partners.

Speaking on the sidelines of the 31st Southern African Regional Police Chiefs Cooperation Organisation (SARPCCO) meeting in Malawi, South Africa’s Acting National Commissioner Puleng Dimpane commended the seamless regional cooperation, specifically between SAPS, SANPARKS, the Criminal Investigation Directorate of the Republic of Mozambique (SERNIC) and the Zimbabwe Republic Police,

“This successful arrest underscores the strength of regional policing cooperation. Through SARPCCO, SADC member countries continue to share intelligence, coordinate operations and support one another in ensuring that criminals have no safe haven within our region. Our partnership with SERNIC and the Zimbabwean Police Service, once again demonstrates that united law enforcement efforts are more effective in combating transnational crime.”

She added that the operation sends a clear warning to criminals attempting to evade justice by crossing borders.

“Our message is clear: criminals will be pursued across borders, and through collective regional efforts, will be brought before the courts to answer for their crimes.”

South African authorities are expected to begin formal extradition processes to bring the suspects back to South Africa.

Investigations into the case remain ongoing, with police indicating that additional charges could still be added as more information comes to light.

Source: The Cloud of Mozambique

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HARARE – Redwing Mine, the historic gold mining operation owned by NASDAQ-listed Namib Minerals, has been reconnected to Zimbabwe’s national electricity grid in a significant milestone for the company’s efforts to revive one of the country’s most promising brownfield gold assets.

The restoration of grid electricity is expected to accelerate critical dewatering operations at the mine while also supporting community development initiatives in the surrounding Penhalonga area.

The power infrastructure project was undertaken in partnership with the Zimbabwe Electricity Transmission and Distribution Company (ZETDC), which worked alongside Redwing Mine to install power lines and commission a new substation and transformer at the site. ZETDC’s commercial team was present during commissioning to facilitate the transition and ensure the system was brought online successfully.

In a statement, Namib Minerals described the development as a major step forward in the phased restart of the mine.

“In collaboration with the Zimbabwe Electricity Transmission and Distribution Company (ZETDC), Redwing has successfully installed power lines at the mine and has commissioned a new substation along with a transformer,” the company said.

The return of reliable electricity is particularly important for the mine’s dewatering programme, which remains one of the most critical activities in preparing the underground operation for future production. Years of inactivity left substantial volumes of water underground, making dewatering essential before mining activities can resume safely.

According to the company, four additional submersible pumps have now been connected to the grid, significantly increasing pumping capacity and improving operational efficiency. Since the dewatering programme began at the end of January, approximately one million cubic metres of water have been removed from the mine. Pumping rates have now increased to around 1,400 cubic metres per hour, bringing the project closer to gaining access to underground workings.

“The return of grid power is important for Redwing’s dewatering programme, a critical step in the mine’s restart that will allow access to underground workings,” the company said.

Beyond supporting mining operations, the investment is also expected to generate wider benefits for local residents. Namib Minerals said the new power infrastructure would strengthen future community development initiatives and complement ongoing social investments already being undertaken in Penhalonga.

The company has upgraded the local clinic, which provides free basic healthcare services to members of the surrounding community, and has also acquired a new ambulance to improve emergency medical response capabilities. Discussions are continuing with community stakeholders to identify additional areas where support can be provided.

“The benefits of the power restoration extend beyond the mine. The new power infrastructure is expected to further support future community development initiatives,” the company said.

Redwing Mine is one of Zimbabwe’s historic gold producers and has produced approximately 650,000 ounces of gold over its operational life. The asset currently hosts an estimated 1.18 million ounces of gold in measured and indicated resources, positioning it as a potentially important contributor to future growth in Zimbabwe’s gold sector.

The progress at Redwing comes at a time when renewed investor interest in Zimbabwe’s mining industry is being driven by strong global gold prices and increasing demand for precious metals. Brownfield projects such as Redwing are attracting attention because they can often be brought back into production more quickly and at lower cost than entirely new mining developments.

For Namib Minerals, the successful restoration of power and continued progress in dewatering represent important milestones in unlocking the value of the asset. Once operational, Redwing is expected to contribute to employment creation, export earnings and economic activity in Manicaland Province while strengthening the company’s position in the regional gold mining industry.

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