Breaking News Today – Thursday 5 March 2026

Business News Today 

Lithium Mines in Zimbabwe Stock-Pile Ore on Export Ban

Zimbabwe last Wednesday, announced an immediate ban on exports of all raw minerals and lithium concentrates until further notice. The export ban had originally been scheduled to start in January 2027, a deadline the government hoped would push mining companies to begin processing and refining the mineral locally. As a reaction to the impending ban, Mining houses had rapidly increased exports of Lithium, with major stockpiles being created in neighbouring states, according to the Zimbabwean information ministry. Exports of lithium concentrate from Zimbabwe in 2025 hit 1.128 million metric tonnes, with a record revenue of around $571 million, according to the minerals and marketing Authority of Zimbabwe.

The recent export ban on all raw minerals and lithium concentrates, effective immediately last week, has however created a major mismatch between production capacity and export history with the existing in-country refining infrastructure unable to produce enough processed product. While new processing plants are being fast tracked, the country has only a single operational plant – Huayou Cobalt’s lithium sulphate plant that has a production capacity of only 50 000 tonnes per year. While the ban has sparked a “rush” to complete and commission facilities, challenges such as electricity supply remain major barriers to the country’s processing ambitions.

Brent Oil Surges on Conflict Concerns

Brent crude futures climbed more than 2% to above $83 per barrel on Thursday, extending this week’s advance as hostilities between the US and Iran escalated after a US submarine reportedly sank an Iranian warship off the coast of Sri Lanka. US Defense Secretary Pete Hegseth described the strike as the “first such attack on an enemy since World War II.” The broader US-Israeli campaign against Iran has now entered its sixth day, keeping markets on edge for further escalation and the risk of a drawn-out conflict. The crisis has effectively halted commercial shipping through the Strait of Hormuz, after the IRGC warned it would “set ablaze” any vessel attempting transit. In an effort to limit a wider energy shock, President Donald Trump has offered risk insurance and naval escorts for commercial vessels transiting the Persian Gulf, while Treasury Secretary Scott Bessent outlined additional measures aimed at stabilising Gulf markets.

Nvidia Won’t Invest more in OpenAI or Anthropic

At the Morgan Stanley Technology, Media and Telecom conference in downtown San Francisco Yesterday, Nvidia CEO Jensen Huang indicated that Nvidia’s recent investments in OpenAI and Anthropic are likely to be its last in both, saying that once they go public as anticipated later this year, the opportunity to invest for Nvidia will close. Nvidia’s strategy is focussed on the supply of its advanced AI processor chips where the company has made massive profits from both companies and does not require further returns by increasing its holdings into either one.

This aligns with the statement made earlier in the company’s fourth-quarter earnings results, where Huang stated that all of Nvidia’s investments are “focused very squarely, strategically on expanding and deepening our ecosystem reach,” a goal its earlier stakes in both AI companies have certainly met. Nvidia finalised their $30 billion investment in OpenAI only last week, far short of the initial $110 billion initially pledged in September last year.

China Lowers GDP Growth Rate

China has set the lowest economic growth target in 35 years when they cut their annual economic growth target to a range of 4.5%-5%, the lowest expansion goal since 199. The Asian major economy has faced multiple challenges in the last year both in local markets as well as internationally. This is the first time the target has been lowered since it was cut to “around 5%” in 2023 While a target was not set in 2020 due to the pandemic. The details of the growth rate cut were released during China’s biggest political gathering, known as the “two sessions”, alongside the release of some details of the 15th Five Year Plan for the world’s second largest economy.

Beijing aims to reshape its economy as it faces issues such as weak consumption, shrinking population growth, an ongoing local property crisis, global trade tensions, as well as an energy supply challenge due to the US / Iran war. In response, China’s 10-year government bond yield rose to around 1.79% this morning, rebounding from a near three-week low earlier this week, as investors weighed the country’s revised GDP growth goal.

Breaking News Shorts:  

• Offshore wind energy developer Aikido is reportedly planning to submerge a 100-kilowatt demonstration data centre off the coast of Norway in 2026. The small unit will live in the submerged pods of a floating offshore wind turbine. This is set to be later tested on a larger scale model off the coast of the U.K. in 2028. That model will sport a 15 megawatt to 18 megawatt turbine that will feed a 10 megawatt to 12 megawatt data center.
• Private businesses in the US added 63 000 jobs in February 2026, the most since July, following a downwardly revised 11 000 rise in January and above forecasts of an expected 50 000 increase. Education and health services added 58 000 jobs, leading all sectors, followed by construction 19 000, and information added 11 000 new jobs
• The Indian rupee rose to around 91.5 per dollar, rebounding after sliding to a record low in the previous session, as intervention by the Reserve Bank of India helped stabilize the currency. Traders said the central bank sold dollars through state-run banks ahead of the local market open, pushing the rupee up from an initial opening near 92.1 per dollar.
• Japan’s 10-year government bond yield climbed nearly 5 basis points to around 2.15% today following a well-received 30-year government bond sale, despite heightened uncertainty from the Middle East conflict. The 30-year JGB yield rose to about 3.4%, recovering from a three-month low of 3.25% last month.

Markets by Numbers 

Currency markets indicate the US dollar stronger today against major currencies today. The Greenback is trading against the Euro at 1.16094 while trading against the Pound at 1.33352. The Yen is currently trading at 157.09 to the dollar. The rand (ZAR) is currently trading at around R16.37 against the US dollar.

Commodities:  

• Gold futures are rising today, up by around 0.6% this morning, and currently trading at around $5172.22 per ounce.  
• Copper prices are trending softer today, with prices currently around $5.8411 per pound
• Silver futures continue their upward momentum and 1.3% higher today, currently trading at around $84.614 per ounce.
• Platinum futures are trending around 1.2% higher this morning, and currently trading at $2180.70, While Palladium prices are trending 0.8% higher this morning, and currently trading around $1709.00 per ounce.
• Brent crude oil prices are up by over 3% today, with prices currently at $83.99 with WTI trading at $77.43
• Cocoa futures continue to claw back losses and up by 1.2% today and currently trading around $3060 per ton. 
• Coffee futures are currently trending 0.95% higher today, and trading at around $2.8585 per pound

Crypto Currencies: 

• Bitcoin prices are up marginally this morning, and trading at around $72803 per coin currently 
• Ether prices are also up by around 0.3% today, and currently trading around $2135.41
• $Trumpcoin are currently trading around $3.441

(All prices quoted at approximately 07H05 Central African Time) 

Africa News Briefs:

• A landslide triggered by heavy rains has killed more than 200 people at the Rubaya coltan mine in the eastern Democratic Republic of the Congo, authorities said. DRC’s Ministry of Mines said on Wednesday that about 70 children were among the victims, and others who were injured were evacuated to medical facilities in the city of Goma, the capital of North Kivu province.
• The UK government will stop issuing study visas to people from Afghanistan, Cameroon, Myanmar and Sudan from this month, Home Secretary Shabana Mahmood has said, as well as stopping skilled work visas to Afghans. The UK’s Home Office stated the action was being taken due to what it said was “widespread visa abuse”.