Trafigura suspends some zinc shipments from Cuba as US tightens sanctions
2026-06-09 11:07:47 [Print]
Trafigura Group has informed certain customers that they will no longer receive shipments from a Cuban zinc mine, as the United States intensifies its sanctions and economic blockade against the island nation---disrupting fuel supplies in the process.
According to people familiar with the matter, the commodity trading firm has told several Chinese smelters that they will not receive zinc concentrates from the Castellanos project in Cuba. The company reportedly assured buyers that it would replace those volumes using alternative sources of raw materials.
A Trafigura spokesperson said in an emailed statement: "Trafigura procures concentrates from a variety of sources and continues to supply its customers in compliance with sanctions applicable to it."
Trafigura holds a 49% stake in Castellanos through a joint venture established with the Cuban government in 2016, though it does not operate the mine. So far, the mine itself has not been directly targeted by the U.S., even as Washington expands its long-standing sanctions against Cuba.
The Castellanos mine is a mid-sized operation, capable of producing 100,000 tons of zinc concentrates and 50,000 tons of lead concentrates annually. While the loss of these volumes-most of which are destined for China-would normally have a limited impact on global markets, Chinese zinc smelters are already facing an unprecedented raw material shortage due to supply disruptions from Iran and Russia.
According to people familiar with the matter, the commodity trading firm has told several Chinese smelters that they will not receive zinc concentrates from the Castellanos project in Cuba. The company reportedly assured buyers that it would replace those volumes using alternative sources of raw materials.
A Trafigura spokesperson said in an emailed statement: "Trafigura procures concentrates from a variety of sources and continues to supply its customers in compliance with sanctions applicable to it."
Trafigura holds a 49% stake in Castellanos through a joint venture established with the Cuban government in 2016, though it does not operate the mine. So far, the mine itself has not been directly targeted by the U.S., even as Washington expands its long-standing sanctions against Cuba.
The Castellanos mine is a mid-sized operation, capable of producing 100,000 tons of zinc concentrates and 50,000 tons of lead concentrates annually. While the loss of these volumes-most of which are destined for China-would normally have a limited impact on global markets, Chinese zinc smelters are already facing an unprecedented raw material shortage due to supply disruptions from Iran and Russia.
Lead Conc. 50%min CIF China TC
Unit:USD/mt
China primary lead producers' sales volume statistics by province by month
Unit: mt
