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The Hormuz ceasefire is holding — barely. The framework that US and Iranian negotiators had tentatively agreed to earlier in the week has been sent back to Tehran after President Trump requested multiple amendments, primarily focused on Iran's nuclear materials management. US officials said Iran could take several days to respond. Trump said he is in no rush, but added there will be a deal. In the meantime, the US military disabled the Gambian-flagged cargo vessel Lian Star with a Hellfire missile on May 30 after it ignored warnings while attempting to breach the naval blockade and reach an Iranian port.
Zimbabwe's lithium export ban is doing exactly what the government intended. The country has attracted nearly $1 billion in new in-country lithium processing investment — driven primarily by Chinese companies already operating there. Zhejiang Huayou Cobalt has committed approximately $700 million for Prospect Lithium Zimbabwe; Sinomine's Bikita Minerals has committed approximately $500 million; Sichuan Yahua has begun construction of a new lithium sulphate facility.
And Chinalco's Chairman met BHP's CEO-elect in Beijing — a high-level bilateral meeting between China's largest aluminum and copper producer and the world's largest mining company, ahead of BHP's leadership transition.
Sources: Al Jazeera, Jerusalem Post/Axios, Politico, Copperbelt Katanga Mining, AAStocks
