{"id":350625,"date":"2026-03-27T13:33:10","date_gmt":"2026-03-27T13:33:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/350625\/"},"modified":"2026-03-27T13:33:10","modified_gmt":"2026-03-27T13:33:10","slug":"zimbabwes-gold-trade-hit-by-global-tensions-and-soaring-shipping-costs","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/350625\/","title":{"rendered":"Zimbabwe\u2019s gold trade hit by global tensions and soaring shipping costs"},"content":{"rendered":"<p>\n        Ghana\u2019s logistical challenge stemmed from disruptions in flights to the United Arab Emirates, which has long been an important center for Ghanaian gold shipments.\n    <\/p>\n<p>\n        The UAE\u2019s relevance to Africa\u2019s gold market has yet again been highlighted, given that it is also a prominent destination for Zimbabwe&#8217;s gold shipments.\n    <\/p>\n<p>\n        The Middle Eastern country accounted for 45% of Zimbabwe\u2019s total gold export revenues last year, according to a report to the Ministry of Industry and Trade.\n    <\/p>\n<p>\n        As a result, the ongoing war in the broader Middle East has taken a toll on the gold trade between Zimbabwe and the UAE.\n    <\/p>\n<p>\n        As seen on <a href=\"https:\/\/www.bitget.com\/amp\/news\/detail\/12560605309454\" id=\"14e08e6a-6bd8-4b86-bfcd-c029a8e92394\" data-link-role-code=\"open_new_tab\" target=\"_blank\" rel=\"nofollow noopener\">BitGet<\/a>, typical maritime routes have been hampered by the ongoing conflict, and major ships like Maersk have suspended operations through the Strait of Hormuz.\n    <\/p>\n<p>\n        Consequently, vessels are rerouted around the Cape of Good Hope, adding roughly 10 to 14 days to cargo transit times between Asia, Europe, and the United States.\n    <\/p>\n<p>\n        Shipping expenditures have escalated significantly; notably, container rates for routes between Turkey and China have increased from $2,000 to $10,000.\n    <\/p>\n<p>\n        Industry specialists characterize the current environment as highly volatile, noting that the disruptions extend beyond petroleum to affect a broad range of other commodities.\n    <\/p>\n<p>\n        This reduces profit margins and complicates operational planning for Zimbabwean exporters due to increased transportation costs and longer wait times for imported materials.\n    <\/p>\n<p>\n        In November last year, Zimbabwe raised royalties on gold producers as it sought to capitalise on record-high bullion prices, according to the country\u2019s 2026 national budget statement.\n    <\/p>\n<p>\n        The adjustment was touted as part of broader efforts to boost state income and strengthen local industry, a measure that may become a hassle for gold producers currently struggling to ship their products.\n    <\/p>\n<p>\n        The move also came at a time when gold prices slipped 5% from the all-time high of $4,381.21.\n    <\/p>\n","protected":false},"excerpt":{"rendered":"Ghana\u2019s logistical challenge stemmed from disruptions in flights to the United Arab Emirates, which has long been an&hellip;\n","protected":false},"author":2,"featured_media":350626,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[138,219,111,139,69],"class_list":["post-350625","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-new-zealand","tag-newzealand","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/350625","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=350625"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/350625\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/350626"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=350625"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=350625"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=350625"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}