Mining ZimbabweLatest Mining News, Policy and Industry Updates

According to BMI, coal prices are holding firm amid escalating geopolitical tensions in the Middle East, a trend that could present Zimbabwe with a timely opportunity to strengthen its position in regional energy markets, Mining Zimbabwe reports.

By Ryan Chigoche

BMI notes that Newcastle thermal coal prices surged by about 23% between late February and the end of March, driven largely by conflict-linked disruptions tied to Iran that have lifted broader energy prices. Although prices have slightly eased, thermal coal remains elevated at around $139 per tonne, well above the 2025 average of $106/t.

The agency attributes this resilience to rising natural gas prices, which are prompting a shift back to coal in key Asian markets. As a result, coal is regaining traction as a dependable and relatively low-cost baseload energy source in a volatile global energy environment.

This global backdrop comes at a time when Zimbabwe is quietly rebuilding its coal export profile. According to the Reserve Bank of Zimbabwe’s latest data, the country generated US$16.5 million from coal exports in February 2026, accounting for about 1.7% of total merchandise exports.

While this contribution remains modest compared to dominant exports such as gold and tobacco, it underscores coal’s growing relevance, particularly as global prices strengthen.

However, Zimbabwe’s coal story is less about exports alone and more about its strategic role in the domestic economy. The bulk of coal produced locally is consumed within the country, feeding into power generation and industrial processes. The Hwange Thermal Power Station, the country’s largest power plant, relies heavily on coal to supply electricity to the national grid.

Beyond electricity, coal is critical in sectors such as steelmaking, ferrochrome smelting, cement production, and general manufacturing, making it a backbone of Zimbabwe’s industrial base.

Zimbabwe’s coal industry is anchored by key producers, led by Hwange Colliery Company Limited, alongside a growing number of private players operating in Matabeleland North and the Hwange Basin. These producers collectively supply both domestic industries and regional export markets such as Zambia, the Democratic Republic of Congo, and South Africa.

Industry estimates suggest the country consumes between 2.5 million and 3 million tonnes of coal annually, with only a fraction exported. This highlights a key structural reality: Zimbabwe is still largely a domestic coal economy, with exports representing untapped upside rather than core revenue.

That upside could become more significant if current global trends persist. Higher international prices, combined with rising demand for affordable energy, create room for Zimbabwe to scale exports, particularly within the region where logistics are more favourable.

At the same time, there is an increasing focus on moving up the value chain. Rather than exporting raw thermal coal, Zimbabwe is looking to expand into processed products such as coke, which are essential for metallurgical industries. This aligns with broader calls to boost beneficiation and reduce reliance on raw commodity exports.

BMI’s upward revision of its 2026 Newcastle thermal coal price forecast to $115/t reinforces this outlook. For Zimbabwe, the implication is clear: while coal may currently play a secondary role in export earnings, a sustained global price rally, combined with local value addition, could turn it into a more meaningful contributor to both export revenues and industrial growth.

Platinum’s allure as a safe-haven investment is under pressure as geopolitical tensions in the Middle East and rising interest rate expectations prompt investors to reduce holdings in platinum-backed ETFs, according to the World Platinum Investment Council (WPIC).

By Ryan Chigoche

While the conflict in Iran has only a modest direct impact on industrial demand, WPIC warns that market sentiment is already driving significant outflows.

Middle Eastern countries account for roughly 2.5% of global platinum demand, primarily through vehicle production and industrial applications such as chemicals and petroleum refining.

The WPIC notes that indirect effects, such as restrictions at the Strait of Hormuz and potential disruptions to helium exports from Qatar, could further ripple through industries reliant on platinum catalysts.

Middle Eastern countries account for just 2.5% of global platinum demand, around 200,000 ounces annually, mostly through vehicle production and industrial uses such as chemicals and petroleum refining.

WPIC notes that even relatively small disruptions can have outsized effects on platinum demand. Restrictions at the Strait of Hormuz, which channels roughly 20% of the world’s crude oil and LNG, could ripple across industries reliant on platinum catalysts, potentially reducing annual top-up demand by as much as 50,000 ounces.

Investor reactions have magnified these market swings. In March, platinum ETFs recorded outflows of 224,000 ounces as shifting expectations for US interest rates, combined with a stronger dollar, pressured prices across the broader precious metals complex, which fell nearly 20% over the month.

Meanwhile, industrial and automotive demand faces subtler pressures. Rising fuel and energy costs may slow conventional vehicle sales, and although the shift to electric vehicles continues, platinum use in catalytic converters remains constrained. WPIC estimates that these combined factors could reduce platinum demand from light-duty vehicles by around 35,000 ounces.

Despite these challenges, WPIC highlights that the platinum market remains fundamentally tight. Supply deficits from consecutive years, limited mining growth, and diversified end-use demand continue to underpin the metal’s long-term investment case. Elevated lease rates and London backwardation signal ongoing supply constraints, suggesting that volatility may be temporary rather than a structural threat to platinum’s market position.

For investors, the key message from WPIC is clear: even modest geopolitical disruptions can prompt outsized market reactions, but underlying supply and industrial demand point to continued support for platinum over the medium term.

• A pricing gap, an export ban, and 11 conditions: The Minister of Mines is working to close a gap that has cost the nation billions.

• Zimbabwe is losing billions from its lithium exports, earning up to $400 less per tonne than Australia. A new export ban and strict reforms could change everything, but risks remain.

By Rudairo Mapuranga

The arithmetic is brutal, and it has cost Zimbabwe billions.

Australia and Zimbabwe both extract spodumene concentrate from the ground. Both ship it to China. Yet, for every tonne of similar-quality material, Australian producers receive $300 to $400 more than their Zimbabwean counterparts.

The gap is not explained by geology. It is driven by under-declaration of mineral content, under-evaluation of exports, and transfer pricing practices that have systematically stripped value from Zimbabwe’s lithium sector.

Now, Mines Minister Dr Polite Kambamura is moving to close that gap.

The Numbers That Forced the Ban

In 2025, Zimbabwe exported over $500 million worth of lithium. However, the government captured just 7 per cent of that total in royalties. While export volumes rose by 11 per cent year-on-year, revenue remained largely flat.

Rising global demand—driven by massive investments in energy storage systems across China, the United States, and Europe—has not translated into higher export prices for Zimbabwe.

The evidence is clear: under-declaration of mineral content, under-evaluation of shipments, and transfer pricing that shifts profits to lower-tax jurisdictions. These are not mere allegations—they are structural realities that have turned Zimbabwe’s lithium wealth into a leaky bucket.

The Export Ban

On 25 February 2026, Minister Kambamura took an unprecedented step: he suspended all raw mineral and lithium concentrate exports with immediate effect, including shipments already in transit.

The message was clear—no more raw materials leaving the country without oversight, verification, and full transparency on content.

“The export ban is an important step to stop mineral leakages,” says Jordan Roberts, a lithium market analyst who tracks global supply chains. “It allows greater control, strengthens global bargaining power, and addresses issues of transfer pricing and under-declaration.”

By requiring every shipment to be tested before export, the ban closes a critical loophole where high-grade material was declared as low-grade waste. It forces buyers to pay fair value—or lose access to the resource.

The 11 Conditions: The Price of Re-Entry

The ban alone is not sufficient. On 7 April 2026, Dr. Kambamura issued an 11-point directive to the Chamber of Mines of Zimbabwe. Rather than lifting the ban, it outlines the conditions required for its removal.

The conditions are binding, with strict deadlines:

• Lithium sulphate plants approved by the Minister and operational by 1 January 2027
• A 10 per cent beneficiation tax on all concentrate exports
• Annual financial statements published from December 2025 onward
• Two internationally accredited laboratories for the entire mining industry
• Decent accommodation for local employees and salaries at minimum NEC levels
• Assay laboratories at each producing mine within three months
• Monthly progress reports submitted to a ministerial committee

Each condition targets a specific leakage point. Financial transparency curbs transfer pricing. Assay laboratories eliminate under-declaration. Beneficiation requirements aim to end the export of raw materials altogether.

The Indonesian Precedent

A working model already exists. Indonesia implemented a similar export ban on raw nickel several years ago. Before the ban, nickel exports generated between $1 billion and $2 billion annually. By 2023, that figure had surged to $30 billion—a tenfold increase—driven by domestic processing into stainless steel and battery materials.

“This is a strong case study for how a lithium export ban could have a very positive impact on Zimbabwe and its stakeholders,” Roberts explains.

The Risks

The path forward is not without challenges. Zimbabwe currently lacks sufficient capacity to process all its lithium concentrate into lithium sulphate. Without rapid investment in downstream infrastructure, the ban risks constraining supply without creating equivalent value.

“If Zimbabwe wants to remain a key player in the global lithium supply chain and battery ecosystem, downstream capacity must be developed quickly,” Roberts warns.

There is also the risk of capital flight. Investment could shift to other African jurisdictions such as Mali, Ghana, and Nigeria, or to lithium brine producers in Argentina, Chile, and the United States.

Job security is another concern. If concentrate exports halt before processing plants come online, workers may be displaced. While the minister’s conditions address wages and accommodation, they do not fully account for transitional employment risks.

The Transparency Dividend

Beyond revenue, there is a strategic advantage: transparency.

Western investors, battery producers, cathode manufacturers, and automotive OEMs increasingly demand traceable supply chains. Europe’s upcoming “battery passport” regulation will require a QR code detailing every mineral in a battery—from mine to market.

“Greater control and transparency could significantly improve Zimbabwe’s attractiveness as a supplier to Western OEMs,” Roberts notes.

The Bottom Line

The price gap between Zimbabwe and Australia is not inevitable. It is the result of systemic weaknesses—under-declaration, transfer pricing, and mineral leakages.

Kambamura’s export ban and the 11 conditions are designed to correct this imbalance. Indonesia has demonstrated that it can be done. The real question is whether Zimbabwe can execute.

“Execution is everything,” Roberts concludes. “The export ban is a critical first step. The real test is whether Zimbabwe can build the downstream capacity to capture full value.”

For now, the arithmetic is being rewritten. The pricing gap is under scrutiny. The conditions are clear. And the world is watching to see whether Zimbabwe’s lithium will finally deliver full value for the nation.

#ZimbabweMining #Lithium #BatteryMetals #MiningAfrica #ResourceGovernance #EnergyTransition #MiningNews #CriticalMinerals #AfricaMining #ValueAddition

The Ministry of Mines and Mining Development has, with immediate effect, suspended all mining and associated activities at Botha Mine and the bordering area of Freda Rebecca Gold Mine’s Lease 21 (Phoenix Prince) in Bindura, citing conditions that pose “immediate and unacceptable risks to life, health, and safety.”

By Rudairo Mapuranga

The suspension order, dated 9 April 2026 and signed by the Provincial Mining Director for Mashonaland Central, follows a separate suspension letter issued to both mine managers on 8 April 2026.

Legal Basis for Suspension

The government has invoked Section 267, read together with Sections 300 and 301 of the Mining (Management and Safety) Regulations of 1990, specifically S.I. 109 of 1990.

According to the official suspension documents, the shutdown was necessitated by several critical conditions. These include an unsafe and violent operating environment marked by an escalation of violence, including shootings, assaults, and intimidation, creating hazardous working conditions and direct risk to personnel and the public. The regulator also cited loss of control and unauthorized access, noting the presence of unauthorized persons and illegal mining activities resulting in uncontrolled operations and exposure to unsafe practices.

Further grounds for the suspension include a breakdown of safety management systems, specifically the failure to maintain effective supervision, enforce safety procedures, and ensure compliance with statutory occupational safety requirements. The government also pointed to non-compliance with occupational health and safety standards, including lack of PPE enforcement, unsafe working conditions, and the absence of adequate safety controls across operations. Additionally, the Mines Inspectorate reported obstruction of regulatory oversight, with conditions on site preventing safe access for inspection and verification.

The suspension order requires that all mining and allied activities cease immediately upon receipt of the order. All operational grounds must be cleared forthwith, and no personnel, equipment, or processing activities shall remain active on site. A register of all mine security and authorized personnel must be submitted to the Provincial Mining Office at the beginning of the workday on Friday, 10 April 2026. Such a register shall be kept at all key entry points for inspection by the Zimbabwe Republic Police.

Conditions for Lifting the Suspension

Operations will only resume upon verified compliance with a range of safety and administrative measures. All mining and allied activities must be operated within the legal boundaries of the respective mines. Demonstrable measures must be applied for the elimination and monitoring of violence and insurgency, including the searching for illegal weapons and substances, and the monitoring of intoxicated personnel within the mining premises.

Management control must be re-established through effective supervision and oversight of all mining activities by competent personnel. Occupational safety systems must be fully implemented, including the enforcement of PPE usage, safe work procedures, and hazard control measures as mandated in Sections 47 and 48 of S.I. 109 of 1990. Incident reporting systems must be reinstated, with proper recording and reporting of all accidents and safety-related incidents as provided for in the same regulations.

Health and sanitation requirements demand that all employees undergo medical examinations in compliance with Section 14 and the Pneumoconiosis Act. Adequate ablution facilities must also be constructed and maintained in terms of the Mining (Health and Sanitation) Regulations of 1995, specifically Section 9. Finally, a register of employees must be maintained to account for all workers employed at the mine, including contractors, in terms of Section 296 of the Mining (Management and Safety) Regulations, S.I. 109 of 1990.

The suspension order affects Botha Mine, with registration numbers 46035 to 46038, and the bordering area of Freda Rebecca Gold Mine’s Lease 21. According to publicly filed court documents, the area has been the subject of competing claims. A spoliation order under case number HC 653/26 was previously issued by the High Court, restoring possession of disputed ground and affirming that parties may not take possession through self-help. The underlying legal status of Mining Lease 21 remains unresolved.

The suspension order will remain in force until all health and safety deficiencies have been rectified to the satisfaction of the Mines Inspectorate.