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Red Cross receives bodies of 4 slain hostages during Israel-Hamas exchange

Hamas released four dead hostages to the Red Cross on Thursday, marking another step in the first phase of the cease-fire between the terrorist group and Israel.

The exchange, which took place in the Gaza Strip, was confirmed by an Israeli security official. Egyptian mediators assisted in the delivery of the caskets, which Israeli officials have begun to identify.

At the same time, Israel released hundreds of Palestinian prisoners in a move that was previously delayed. Red Cross convoys assisted with the transport of the detainees.

Israeli Prime Minister Benjamin Netanyahu’s office previously confirmed the exchange on Wednesday, noting that it was likely to take place without the humiliating ‘ceremonies’ that Hamas has engaged in prior.

On Saturday, Netanyahu temporarily delayed the seventh hostage-prisoner exchange in protest of Hamas’s release ceremonies, which were used to generate propaganda. In one ceremony, hostages were forced to pose with Hamas fighters and kiss militants on the head.

‘In light of Hamas’s repeated violations, including the ceremonies that humiliate our hostages and the cynical exploitation of our hostages for propaganda purposes, it has been decided to delay the release of terrorists that was planned for yesterday until the release of the next hostages has been assured, and without the humiliating ceremonies,’ Netanyahu’s statement said.

Hamas had called the delay a ‘serious violation,’ though the militant group’s treatment of prisoners was condemned by international groups, including the United Nations.

‘Under international law, any handover of the remains of [the] deceased must comply with the prohibition of cruel, inhuman or degrading treatment, ensuring respect for the dignity of the deceased and their families,’ the United Nations Geneva said on X last week, attributing the quote to High Commissioner for Human Rights Volker Türk.

Israeli United Nations Ambassador Danny Danon told Fox News Digital that Hamas’ ‘ceremonies’ were ‘evil and depraved.’

‘For 16 months, Israel has been fighting a deranged terrorist organization that places no value on human life, especially if it is Israeli or Jewish — all while international institutions like the U.N. refrained from condemning Hamas and formally demanding the immediate return of our hostages,’ Danon said.

The Associated Press and Fox News’ Rachel Wolf and Yael Rotem-Kuriel contributed to this report.

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Chief Justice John Roberts pauses judge’s order for Trump admin to pay foreign aid contractors by midnight

U.S. Supreme Court Justice John Roberts on Wednesday paused a federal judge’s order that required the Trump administration to pay around $2 billion in foreign aid funds to contractors by midnight. 

The ruling comes after the Trump administration asked the Supreme Court for an emergency order to block the release of U.S. Agency for International Development (USAID) funding, which the federal judge had required by midnight. Officials had said they would not be able to comply with the judge’s order.

The Trump administration said U.S. District Judge Amir H. Ali’s order had created ‘an untenable payment plan at odds with the President’s obligations under Article II to protect the integrity of the federal fisc and make appropriate judgements(sic) about foreign aid – clear forms of irreparable harm.’

Any response from the groups that are fighting the Trump administration is due before Friday at 12 p.m., meaning the pause could potentially be relatively short-lived. 

The Trump administration said it was eliminating more than 90% of USAID’s foreign aid contracts and $60 billion in overall U.S. assistance around the world, putting numbers on its plans to eliminate the majority of U.S. development and humanitarian help abroad.

The cuts detailed by the administration would leave few surviving USAID projects for advocates to try to save in what are ongoing court battles with the administration.

Wednesday’s disclosures also give an idea of the scale of the administration’s retreat from U.S. aid and development assistance overseas, and from decades of policy that foreign aid helps American interests by stabilizing other countries and economies and building alliances.

The memo said officials were ‘clearing significant waste stemming from decades of institutional drift.’ More changes are planned in how USAID and the State Department deliver foreign assistance, it said, ‘to use taxpayer dollars wisely to advance American interests.’

President Donald Trump and ally Elon Musk have hit foreign aid harder and faster than almost any other target in their push to cut the size of the federal government. Both men say USAID projects advance a liberal agenda and are a waste of money.

The administration has filed an emergency appeal to the Supreme Court in one other case so far, arguing that a lower court was wrong to reinstate the head of a federal watchdog agency after Trump fired him.

The Associated Press contributed to this report. 

Fox News’ Bill Mears and Shannon Bream contributed to this report.

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Epstein client list release could be imminent after Blackburn pushes transparency: ‘Let’s get them jailed’

Sen. Marsha Blackburn, R-Tenn., advocated for the Trump administration to release the full, unredacted records related to sexual predator and financier Jeffrey Epstein as Attorney General Pam Bondi now says the Department of Justice could release the records Thursday. 

‘I think tomorrow…breaking news. Right now, you’re going to see some Epstein information being released by my office. What you’re going to see, hopefully tomorrow, is a lot of flight logs, a lot of names, a lot, a lot of information. But it’s pretty sick what that man did,’ Bondi told Fox News’ Jesse Watters Wednesday night.

Her comments came hours after Fox News Digital spoke with Blackburn, who has been among the most vocal Capitol Hill lawmakers calling to release the Epstein records.

‘For me, this is not about the celebrity. And I know that there are many people that want to see who all flew on his planes and guested at his Caribbean island,’ she told Fox News Digital on Tuesday. ‘But let’s break these human trafficking rings apart. Let’s get these people apprehended. Let’s get them prosecuted. Let’s get them jailed. Let’s put an end to this and save lives.’

On Monday, Blackburn sent a letter to newly sworn-in FBI Director Kash Patel calling for the complete flight logs from Epstein’s private jet and helicopter, records belonging to Epstein’s partner Ghislaine Maxwell, and video footage from Epstein’s Palm Beach, Florida residence.

The Tennessee Republican has long advocated for the release of the Epstein documents, arguing that making the full set of records public will expose the complex network behind global human and sex trafficking.

‘This will give us insight into this web of human and sex traffickers that has just spread like wildfire across the globe, and it will help us to begin to get accountability for the victims of this horrendous trade,’ she said.

Blackburn said that viewing the intricacies of Epstein’s ring will help elected officials uncover the truth and get to the ‘bottom of this.’

‘At the time I started this, I was the top Republican on the Senate Judiciary Subcommittee on Human Rights and the Law,’ she said. ‘So to get this information, we can begin to break these rings apart and find out who he [Epstein] was in business with, who his associates and affiliates were.’

Blackburn said that the sex trafficking web – a $150 million per year business – needs government accountability.

‘Law enforcement tells me regularly, we need to figure out who constructed this network, who is all involved in this web, [and] how it tied into other countries,’ she said. ‘And to get information and insight to help us begin to break apart the network and get accountability is going to be vitally important.’

The senator noted that the mystery surrounding Epstein’s unexpected death prior to his 2019 trial feeds into the public’s curiosity and skepticism.

‘I do find it very interesting that the French human trafficker and then Epstein both died in jail while they were awaiting trial,’ she said. ‘This speaks to the curiosity that people have, and the concern that this was much larger than just flights to an island. That this was a part of a global human trafficking and sex trafficking ring.’

Attorney General Pam Bondi said Friday that Epstein’s client list was awaiting review, and that she was also looking over the President Kennedy and Martin Luther King assassination files.

‘It’s sitting on my desk right now to review,’ Bondi told ‘America Reports’ host John Roberts Friday about the Epstein files. ‘That’s been a directive by President Trump.’

During his campaign, President Donald Trump promised the declassification of the files. The House’s Task Force on the Declassification of Federal Secrets is scheduled to hold its first public hearing on March 26.  

The White House and the FBI did not immediately respond to a request for comment from Fox News Digital.

This post appeared first on FOX NEWS

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UK’s Starmer juggles trouble at home as he walks geopolitical tightrope with Trump

U.K. Prime Minister Keir Starmer is staring down a geopolitical tightrope ahead of his meeting with President Donald Trump on Thursday as he looks to stay strong on support for Ukraine, as well as maintaining relations with the U.S. — London’s chief ally. 

But the tense international atmosphere is not the only hurdle Starmer is facing following his waning approval ratings at home.

The U.K. saw a massive political shake-up in July 2024 after voters ended the Conservative Party’s 14-year reign and voted in the Labour Party under Starmer. But in the months following his election, Starmer’s approval ratings reportedly took a historic dip.

Controversial topics like axing a winter fuel repayment program, policy reversals relating to political donations, and partisan uproar over issues like immigration, knife crime and a deal that could hand over the Chagos Islands to Mauritius along with more than $11 billion, have reportedly contributed to Starmer’s tanking support. 

Colin Brazier, an award-winning retired English journalist and veteran observer of the U.K.’s culture wars, told Fox News Digital that with some eight months in power, there’s a reason why Starmer’s approval ratings have ‘fallen faster than almost any previous incumbent.’

‘Why?’ he asked. ‘New taxes on everything from schools to farms and a sense that Britain is ‘undeveloping’ before our very eyes. Immigration on a scale never before seen is testing the Welfare State, transport network, housing stock and National Health Service to destruction. Starmer’s Labour Party detests MAGA at a cellular level. But their beleaguered leader needs to show statesmanship, and a picture with the president does that.’

But one foreign policy expert believes that the Starmer-Trump meeting could be an opportunity for the prime minister to gain some points at home while also soothing diplomatic ties. 

‘I think what he’s obviously been doing is trying to take the edge off some of President Trump’s sort of more surprising statements… then trying to put Britain in the best positive light when it comes to the president’s considerations,’ Alan Mendoza, Executive Director of the Henry Jackson Society, a non-partisan U.K.-based think tank told Fox News Digital.

‘The polling tells you that President Trump is very unpopular in Britain,’ Mendoza said. ‘But that doesn’t mean that the British government is going to listen to those opinion polls. The British government has to govern.

‘British people may have a certain view of President Trump, but the British government, the British political class, may well have a very different view of what he’s trying to achieve and where they should be positioning themselves,’ he added.

Despite Starmer’s waning ratings and low favorability of Trump among Brits, Mendoza doesn’t think these factors will shape how Starmer approaches his meeting with Trump on Thursday.

Instead, Mendoza pointed to the successful meeting between Trump and French President Emmanuel Macron, as an indicator of how Starmer’s discussions could go.

‘I think there would be a path to great popularity if he’s able to shape President Trump’s thinking on certain subjects,’ Mendoza said. 

Starmer’s ability to make inroads with Trump could have immediate implications as issues that directly impact Brits’ pockets are expected to be top agenda items — including the looming U.S. tariffs on U.K. steel.

The British embassy confirmed to Fox News Digital that while topics involving U.S.-U.K. defense alliances and support for Ukraine are expected to be addressed, topics involving shared economic and trade-based partnerships will also be prioritized. 

Trump’s threat to slap 25% tariffs on U.K. and EU imports is a topic Britain hopes it is uniquely positioned to address given its ‘very specialized’ trading position on steel and aluminum, U.K. secretary for business and trade, Jonathan Reynolds, told the BBC this month.  

A British embassy spokesperson said Starmer will look to highlight the economic ‘synergies’ shared between the U.K. and U.S. when it comes to tech, AI, trade and investments.

‘That’s going to be a big priority,’ spokesman Ed Roman said. 

This post appeared first on FOX NEWS

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Dem support likely to push Trump’s pro-union labor pick past key vote

President Donald Trump’s nominee for labor secretary is expected to pass a key vote before the Senate Committee on Health, Education, Labor and Pensions (HELP) on Thursday after picking up Democrat support from Sen. Maggie Hassan, D-N.H. 

Lori Chavez-DeRemer’s past support for the Protecting the Right to Organize (PRO) Act jeopardized her confirmation last week, when Sen. Rand Paul, R-Ky., said he would not vote for her if she continued to support the PRO Act. Paul’s reluctance meant Chavez-DeRemer would likely need a Democrat’s vote to pass a key confirmation hurdle. 

Hassan’s support, as a Democrat on the HELP Committee, all but confirms Chavez-DeRemer will pass through her committee vote.

‘The Department of Labor plays an integral role in supporting workers and small businesses alike, and after hearing significant support from constituents, including members of labor unions in New Hampshire, I will support Representative Chavez-DeRemer’s nomination as Secretary of Labor,’ Hassan shared in a statement to Fox News Digital. 

Hassan admitted that she ‘may not agree on everything’ with Chavez-DeRemer, but she is ‘qualified’ to serve and earned ‘significant support’ from New Hampshire voters.

‘Though we may not agree on everything, after meeting with Representative Chavez-DeRemer and listening to her testimony during her confirmation hearing, I believe that she is qualified to serve as the next secretary of labor, and I look forward to working with her to support New Hampshire’s workers and small businesses,’ Hassan added. 

Chavez-DeRemer supported the PRO Act as a representative for Oregon’s 5th Congressional District but told senators during her confirmation hearing that she no longer supports overturning Republican-supported right-to-work laws under the PRO Act.

The PRO Act would effectively kill state-level laws that prevent employers and unions from requiring workers to pay union dues as a condition of their employment. Republicans oppose the PRO Act for overturning right-to-work laws. 

Chavez-DeRemer could still earn back Paul’s vote after she distanced herself from the PRO Act during her Senate hearing. With Hassan’s support, Chavez-DeRemer is no longer reliant on Paul for confirmation. 

‘If she wanted to make a public statement saying that her support for the PRO Act was incorrect and she no longer does, then I’d think about her nomination,’ Paul told Fox News Digital in a statement ahead of Chavez-DeRemer’s hearing. 

‘So you no longer support the aspect of the PRO Act that would have overturned state right-to-work laws?’ Paul asked during the hearing. 

‘Yes, sir,’ she replied. 

Paul’s office did not respond to Fox News Digital’s request for comment on how he will vote in committee today.

Chavez-DeRemer testified before the HELP Committee on Feb. 19. If the committee votes to send Chavez-DeRemer’s nomination before the full Senate, Majority Leader John Thune, R-S.D., can file a motion to end Senate floor debate on the nominee, triggering a cloture vote to halt deliberations. Once debate closes, senators cast their final confirmation vote. 

During her hearing, Chavez-DeRemer advocated for trade school investments to expand ‘educational pathways beyond the traditional four-year degree’ to strengthen the American workforce. She said she is committed to leveling the playing field for American businesses, workers and unions. 

Chavez-DeRemer also thanked Trump and credited him with the ‘single greatest political achievement of our time’ in building a ‘new coalition of working-class Americans.’

‘President Trump has united a new coalition of working-class Americans like never before. With 59.6% of Teamsters backing him, historic support from African-American and Latino voters, and record-breaking turnout in once-solid blue cities and states, Americans are speaking loud and clear. They are calling for action, progress and leadership that puts the American worker first,’ Chavez-DeRemer said.

Trump nominated Chavez-DeRemer for secretary of labor less than three weeks after he was elected president.

‘Lori has worked tirelessly with both Business and Labor to build America’s workforce, and support the hardworking men and women of America,’ Trump wrote.

‘I look forward to working with her to create tremendous opportunity for American Workers, to expand training and apprenticeships, to grow wages and improve working conditions, to bring back our manufacturing jobs. Together, we will achieve historic cooperation between Business and Labor that will restore the American Dream for Working Families,’ he added.

Fox News Digital’s Julia Johnson contributed to this report.

This post appeared first on FOX NEWS

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Top 11 Countries by Rare Earth Metal Production

Rare earth metal production was on the rise again in 2023, jumping to 350,000 metric tons (MT) worldwide — that’s up significantly from 190,000 MT in 2018, just five years prior.

Demand for rare earth metals is increasing as renewable energy becomes more important across the globe. Rare earths such as neodymium and praseodymium, which are important in clean energy applications and high-tech industries, are in the spotlight, particularly as electric vehicles and hybrid cars gain further popularity.

Ongoing tensions between the US and China, along with other geopolitical factors, are impacting the outlook for rare earths investing. Since China is the world’s largest producer of rare earths by far, the fraught relationship between the countries is directing attention to global supply chain disruption in the rare earths industry.

With that in mind, it’s worth being aware of rare earth metal production by country figures. Here’s a look at the 10 countries that mined the most rare earths in 2023, as per the latest data from US Geological Survey (USGS).

1. China

Mine production: 240,000 metric tons

In 2023, China’s domestic output of rare earths was 240,000 metric tons, up from 210,000 MT the previous year.

As mentioned, China has dominated rare earths production for quite some time. While China dominates global production of the vast majority of the 17 different rare earth elements, its output is heavily concentrated in light rare earths, specifically the magnet rare earths neodymium and praseodymium.

The largest rare earth mining company in the world is China Northern Rare Earth High-Tech (SHA:600111), which owns the prolific Bayan Obo rare earth mining complex in Inner Mongolia.

Chinese producers must adhere to a quota system for rare earths production. The 2023 quota for rare earths mining and rare earths separation was set at to 240,000 metric tons and 230,000 metric tons of rare earth oxides (REO) equivalent, respectively. Interestingly, this system has led China to become the world’s top importer of rare earths since 2018.

The quota system is a response to China’s longstanding problems with illegal rare earths mining. For more than a decade, the country has taken steps to clean up its act, including shutting illegal or environmentally non-compliant rare earths mines, and limiting production and rare earths exports.

China’s rare earths industry is controlled by state-owned miners, in theory allowing China to keep a strong handle on production. However, illegal rare earths extraction remains a challenge, and the Chinese government continues to take steps to curb this activity.

The Chinese government is set to introduce even tougher regulations requiring companies involved in the mining, smelting and trading of rare earths to maintain detailed records of product flow and input this data into a traceability system. These new regulations are set to take effect in October of 2024.

2. United States

Mine production: 43,000 metric tons

The US produced 43,000 metric tons of rare earths in 2023, up from 42,000 MT in the previous year.

Rare earths supply in the US currently comes only from the Mountain Pass mine in California, which is owned by MP Materials (NYSE:MP). Mountain Pass is producing high-purity neodymium and praseodymium (NdPr) oxide, a key material for high-strength neodymium iron boron (NdFeB) magnets.

The mine has had an interesting decade. Previously owned by Molycorp, the mine was put on care and maintenance in 2015 due to low rare earths prices and Molycorp filing for bankruptcy. Mountain Pass re-entered production in Q1 2018 under its new ownership.

The US is a major importer of rare earth materials. The USGS estimates the value of US rare earth imports for 2023 at US$190 million, down from US$208 million in 2022. The country has classified rare earths as critical minerals, a distinction that has come to the fore due to trade issues between the US and China.

Aiming to bolster its domestic supply, the US government is implementing a 25 percent tariff on rare earth magnet imports from China. “The tariff rate on natural graphite and permanent magnets will increase from zero to 25 percent in 2026. The tariff rate for certain other critical minerals will increase from zero to 25 percent in 2024,” states a May statement from the White House. “Concentration of critical minerals mining and refining capacity in China leaves our supply chains vulnerable and our national security and clean energy goals at risk.’

3. Myanmar (also known as Burma)

Mine production: 38,000 metric tons

Myanmar mined 38,000 metric tons of rare earths in 2023. This was an increase of more than 216 percent from the 12,000 MT Myanmar produced in 2022, as supply was down due to a temporary halt in production associated with the turmoil following the 2021 military coup.

Its 2023 production rebounded to surpass the 35,000 MT Myanmar produced in 2021. According to the International Energy Agency (IEA), since 2015, Myanmar’s share of global rare earth production has surged from 0.2 percent to 14 percent. Unsurprisingly, the temporary halt in Myanmar’s production in the late summer of 2022 sent rare earth prices to their highest level in 20 months, as per OilPrice.com.

China, who shares a border with Myanmar, obtains 70 percent of its medium to heavy rare earths feedstock from its neighbor, including dysprosium and terbium. Myanmar’s rare earths industry is plagued with controversy as much is reportedly carried out by unregulated small-scale miners and linked with armed militia groups with no environmental best practices or remediation plans in place.

Ironically, the act of mining these metals critical for clean energy technologies such as EVs and wind turbines is itself fraught with environmentally destructive practices that are harming the waterways, wildlife and vegetation in Myanmar.

4. Australia

Mine production: 18,000 metric tons

In 2023, Australia’s rare earths production came in at 18,000 metric tons, on par with 2022 after rising steadily for the last few years. representing more than 5 percent of the global total. That’s compared to the 24,000 MT produced in 2021. The country holds the world’s sixth largest rare earths reserves, and is poised to increase its output. According to the IEA, Australia’s share of global rare earth elements production is projected to rise to 18 percent by 2030.

Lynas (ASX:LYC,OTC Pink:LYSCF) operates the Mount Weld mine and concentration plant in the country, and is slated to complete its expansion project to boost production to 12,000 MT per year of NdPr products by 2025. Mount Weld ranks among the world’s top rare earth mines, and Lynas is the the leading producer of rare earths outside of China.

Australian company Northern Minerals (ASX:NTU,OTC Pink:NOURF) is undertaking a definitive feasibility study for its Browns Range mining and process plant to process, which is due for completion in Q4 2024 with a final investment decision targeted for Q1 2025. Its main products will be terbium and dysprosium.

5. Thailand

Mine production: 7,100 metric tons

Thailand’s rare earths production came in at 7,100 metric tons in 2023, level with the prior year. However, the country’s rare earth production has ramped up rapidly in recent years. Thailand’s output of rare earths in 2018 was just 1,000 MT and by 2021 it had hit 8,200 MT.

While there’s not much information available on Thailand’s rare earth industry, after Myanmar, the country is a major source of rare earth imports for China. As far as downstream rare earths product makers, Neo Performance Materials’ (TSX:NEO) subsidiary Neo Magnequench operates a rare earth magnetic materials manufacturing facility in Korat, Thailand.

Recently, Chinese electric vehicle giant BYD (OTC Pink:BYDDF,HKEX:1211,SZSE:002594) is opening a US$486 million EV manufacturing facility in the country. The Financial Times reports that ‘analysts expect Chinese EV makers to penetrate further into south-east Asia because Thailand has lower tariffs on fully assembled EVs for companies that have pledged to build EV factories there, and most of them are Chinese.’

6. India

Mine production: 2,900 metric tons

India’s 2023 production was 2,900 metric tons, unchanged from the previous year. The country’s output represents less than 1 percent of global rare earths supply. India’s rare earths production is far below its potential, considering the nation holds almost 35 percent of the world’s total beach sand mineral deposits, which are significant sources of rare earths.

India joined the Minerals Security Partnership (MSP) in mid-2023, a multi-nation group led by the United States and focused on the creation of critical mineral supply chains, including for rare earths.

Much of the country’s rare earth exploration and mining is being conducted under the auspices of the Government of India via Indian Rare Earths Limited (IREL), which was established in 1950. Furthermore, the government is establishing research and development into new technologies for extracting and processing rare earth minerals.

7. Russia

Mine production: 2,600 metric tons

Russia produced 2,600 metric tons of rare earths in 2023, nearly the same level as the previous five years. In terms of global rare earths reserves, Russia ranks third after China and Brazil. TriArk Mining, a joint venture owned by industrial conglomerate Rostec and billionaire Alexander Nesis, is the main player in Russia’s rare earth sector, and is developing the Tomto rare earths deposit.

Prior to the country’s aggressive war against Ukraine, the Russian government was allegedly “unhappy” with its supply of rare earths. The Russia-Ukraine war has raised concerns over disruptions to the US/Europe rare earths supply chain.

Russia has reportedly reduced mining taxes and offered discounted loans to investors in nearly a dozen projects intended to increase the nation’s share of global rare earths production from the current 1.3 percent to 10 percent by 2030.

8. Madagascar

Mine production: 960 metric tons

Madagascar recorded rare earths extraction of 960 metric tons in 2023, on par with the previous year and down dramatically from 6,800 MT in 2021.

The country’s Ampasindava peninsula is reportedly home to 628 million metric tons of ionic clays with a significant concentration of rare earths, particularly dysprosium, neodymium and europium. It’s considered one of the largest rare earth deposits outside China. Whether or not it is ever developed is up in the air.

The declining in rare earths production in recent years is due in large part to increasing opposition to rare earths mining on the part of farmers who are strongly against mining activity in their communities.

In April 2024, Energy Fuels (TSX:EFR,NYSEAMERICAN:UUUU) agreed to acquire Base Resources and its advanced Toliara heavy mineral sands project in Southwest Madagascar. Energy Fuels plans to separate monazite sands from Toliara’s Ranobe deposit at its White Mesa mill in Utah, US.

9. Vietnam

Mine production: 600 metric tons

Vietnam’s rare earths production came in at 600 metric tons in 2023, a fall from 1,200 MT in 2022. Vietnam holds the world’s second largest known rare earths reserves, including several rare earth deposits against its northwestern border with China and along its eastern coastline.

The country’s government is interested in building its clean energy capacity, including solar panels, and is said to be looking to produce more rare earths for its supply chain for that reason. It has set a goal of extracting and processing 2 million metric tons of rare earths per year by 2030.

However, serious corruption charges in October of 2023 that led to the arrests of top industry executives, including the chairman of Vietnam Rare Earth JSC, has hamstrung those plans. ‘The arrests stalled government plans to auction new rare earth mining concessions and cast a cloud of uncertainty over the industry that has given foreign investors pause,’ reported Asia Times.

10. Brazil

Mine production: 80 metric tons

Brazil produced just 80 metric tons of rare earths in 2023, although the country holds reserves of 21,000,000 MT. Back in 2012, a US$8.4 billion rare earths deposit was discovered in Brazil.

In August 2024, St. George Mining (ASX:SGQ) announced its plans to acquire the Araxa niobium-rare earths project located in Minas Gerais, Brazil. It is adjacent to CBMM’s flagship niobium mine, which is a prolific producer of niobium.

Another significant rare earths project in Brazil is Resouro Strategic Metals’ (TSXV:RSM,ASX:RAU) Tiros titanium-rare earths project located in Minas Gerais. In July, Resource published a maiden JORC-compliant mineral resource estimate for the central block of Tiros; the resource estimate stands at 1.7 billion MT, divided into 1 billion MT in the measured and indicated category, and 700 million MT in the inferred category. It contains 3,900 parts per million (ppm) total rare earth oxides, 1,100 ppm magnet rare earth oxides and 12 percent titanium dioxide.

10. Malaysia

Mine production: 80 metric tons

Malaysia produced 80 metric tons of rare earths in 2023, on par with its output in the previous year and tying with Brazil for 10th place. Malaysia hosts the world’s fourth largest rare earth reserves.

Malaysia represented the second biggest source for US rare earth imports in 2023 at 11 percent, according to the USGS, up from 8 percent in the previous year. Australia’s Lynas (ASX:LYC,OTC Pink:LYSCF) sends its mined material for refining and processing to its plant in Malaysia.

The Malaysian government has imposed a temporary ban on the export of unprocessed rare earths materials as of January 1, 2024, in an effort to grow its downstream value-added rare earths industry.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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Sarama Resources Advances Mt Venn Gold Project Acquisition

Sarama Resources Ltd. (“Sarama” or the “Company”) (ASX:SRR, TSX- V:SWA) is pleased to advise that it has reached binding agreement (the “Agreement”) with Orbminco Limited (“Orbminco”) (ASX: OB1), an arm’s length third party, to acquire a majority(1) and controlling interest(1) in the under- explored, belt-scale 420km² Mt Venn Project (the “Project”)(2), located in the Eastern Goldfields of Western Australia.

This follows Sarama’s recent acquisition of a majority interest in the nearby Cosmo Project (refer Sarama news release 6 December 2024). Together the projects create a 1,000km² well-positioned and underexplored landholding in the Laverton Gold District which is known for its prolific gold endowment (refer Figure 1) and recent discoveries.

Highlights

  • Binding agreement executed for acquisition of 80% interest in belt-scale Mt Venn Project
  • Located in the prolific Laverton Gold District, 35km from the producing Gruyere Gold Mine and less than 20km from Gold Road’s Golden Highway Deposit
  • Project covers 420km² and features a favourable litho-structural setting, primarily in greenstone rocks
  • Includes regional shear zone of ~50km strike length and 1-3km width extending full length of greenstone belt
  • Advanced gold targets generated through historical exploration, including broad drill-defined gold mineralisation
  • Highly complementary to Sarama’s recently acquired, underexplored and prospective Cosmo Project
  • Creates 1,000km² exploration position in the Laverton Gold District, capturing 100km of strike length
  • Land access agreement with Traditional Owners in place for exploration
  • 100% scrip consideration with initial exploration funded by the November 2024 equity raise of A$2M

Sarama’s President, Executive Chairman, Andrew Dinning commented:

“We are very pleased to be nearing completion of the acquisition a majority interest in the Mt Venn Project and consolidating our position in the prolific Laverton Gold District of Western Australia. The addition of the Mt Venn Project will create a major 1,000km2 area-play and significantly enhances the probability of making the next big discovery in a region that continues to deliver new deposits in previously unexplored areas, including the regionally significant Gruyere Deposit just 35km east of the Mt Venn Project. Soil sampling programs at the Cosmo Project are progressing well, feeding into the process of bringing the Cosmo and Mt Venn Projects to account as expeditiously as we can.”

Mt Venn Project

The Project is comprised of 3 contiguous exploration tenements covering approximately 420km² in the Eastern Goldfields of Western Australia, approximately 110km north-east of Laverton and 35km west of the regionally- significant Gruyere Gold Mine(3). The Project is readily accessible via the Great Central Road which services the regional area east of Laverton.

The Project captures the majority of the underexplored Jutson Rocks Greenstone Belt over a strike length of ~50km. Rocks within the belt feature a diverse sequence of volcanic lithologies of varying composition, together with pyroclastics and metasediments. Several internal intrusive units have been identified throughout the Project and are commonly associated with local structural features. A regionally extensive shear zone, spanning 1-3km in width, extends the entire length of the belt with subordinate splays interpreted in the southern area of the Project which provides a favourable structural setting for mineralisation.

Gold mineralisation was first discovered in the 1920’s with sampling returning very high grades and prompting the commencement of small-scale mining operations in the mid 1920’s. Multiple gold occurrences have since been identified throughout the Project, demonstrating the prospectivity of the system. Despite the identification of several km-scale gold-in-soil anomalies by soil geochemistry and auger drilling, many of these targets are yet to be properly tested. Encouragingly, drilling by Cazaly Resources Limited (“Cazaly”) (ASX: CAZ) at the Project intersected broad, gold mineralisation over several fences in weathered and fresh rock at the Three Bears Prospect, presenting a priority target for exploration (Cazaly news release 27 February 2017: “Widespread Gold & Zinc Mineralisation Defined”).

In addition to the attractiveness of the Project for gold, it is considered prospective for base metals and platinum group elements. Historical exploration work including auger geochemistry and geophysical surveys identified numerous targets for copper, nickel and zinc mineralisation. Several of these targets remain untested due to historical funding and land access constraints. Exploration in the belt to the immediate south of the Project area is noted to have intersected copper mineralisation of significant grade over a significant strike length(4).

In summary, the Project is located within a prolific gold district and has a favourable lithological and structural setting. A solid database of base-level historical exploration work by previous operators, including generation of drill-ready targets, provides a good platform for Sarama to advance the Project in conjunction with its activities at the Cosmo Project. The size and prospectivity of the landholding that Sarama will have in the Laverton Gold District upon completion of this transaction significantly enhances the chances of making an economic discovery, particularly given the infrastructure and proliferation of mines in the region which will have a favourable impact on the size threshold for finding something of economic value.

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Quantum Biopharma Announces Completion of the Phase 1 Multiple Ascending Dose Clinical Trial for its Experimental Multiple Sclerosis Drug Lucid-21-302

Quantum BioPharma Ltd. (NASDAQ: QNTM) (CSE: QNTM) (FRA: 0K91) (“Quantum BioPharma” or the “Company”), today announced that it has completed its trial entitled “A Phase 1, Randomised, Double-Blind, Placebo-Controlled, Multiple Ascending Dose Study to Evaluate the Safety and Pharmacokinetics of Lucid-21-302 in Healthy Adult Participants.” A final safety review committee (“SRC”) meeting was held after completion of the trial. The SRC found that Lucid-21-302 “(Lucid-MS”) was well-tolerated with no safety concerns and no serious adverse events were reported during the trial.

Lucid-MS is a first-in-class, non-immunomodulatory, neuroprotective compound for the treatment of multiple sclerosis (“MS”). It is a patented New Chemical Entity (“NCE”) that has a unique mechanism of action. As shown in preclinical models of MS, it can directly stabilize the myelin sheath surrounding nerve fibers and thus provide protection from demyelination. MS is a disease characterized by demyelination, a process that causes progressive disability.

“Our clinical development team is thrilled that this Phase 1 trial is now complete, and that Lucid-MS was deemed safe and well-tolerated in healthy participants,” said Dr. Andrzej Chruscinski, Vice-President, Scientific and Clinical Affairs at Quantum Biopharma. “This marks an important milestone and allows for the next steps in the clinical development of Lucid-MS.”

Zeeshan Saeed, CEO of Quantum BioPharma added, “We are excited about potential of Lucid-MS to protect myelin in MS patients as it represents a new direction in the treatment of this disease. By completing this trial and demonstrating safety in healthy participants, we are now closer to initiating a Phase 2 trial of Lucid-MS in people with MS.

“We are now looking ahead to our Phase 2 trial as we work towards our goals of drug approval and commercialization of Lucid-MS. We look forward to providing further updates as we execute on our milestones, driven by our mission to arrest demyelination in MS,” concluded Saeed.

About Quantum BioPharma Ltd.

Quantum BioPharma (NASDAQ: QNTM) is a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative and metabolic disorders and alcohol misuse disorders with drug candidates in different stages of development. Through its wholly owned subsidiary, Lucid Psycheceuticals Inc. (“Lucid”), Quantum BioPharma is focused on the research and development of its lead compound, Lucid-MS. Lucid-MS is a patented new chemical entity shown to prevent and reverse myelin degradation, the underlying mechanism of multiple sclerosis, in preclinical models. Quantum BioPharma invented unbuzzd and spun out its OTC version to a company, Celly Nutrition Corp. (“Celly Nutrition”), led by industry veterans. Quantum BioPharma retains ownership of 25.71% (as of June 30, 2024) of Celly Nutrition at www.unbuzzd.com. The agreement with Celly Nutrition also includes royalty payments of 7% of sales from unbuzzd until payments to Quantum BioPharma total $250 million. Once $250 million is reached, the royalty drops to 3% in perpetuity. Quantum BioPharma retains 100% of the rights to develop similar products or alternative formulations specifically for pharmaceutical and medical uses. Quantum BioPharma maintains a portfolio of strategic investments through its wholly owned subsidiary, FSD Strategic Investments Inc., which represents loans secured by residential or commercial property. For more information visit www.quantumbiopharma.com.

Forward Looking Information

This press release contains certain “forward-looking statements” within the meaning of applicable Canadian securities law. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as “believes”, “anticipates”, “expects”, “is expected”, “scheduled”, “estimates”, “pending”, “intends”, “plans”, “forecasts”, “targets”, or “hopes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “will”, “should” “might”, “will be taken”, or “occur” and similar expressions) are not statements of historical fact and may be forward-looking statements. The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding: the Company’s focus on the research and development of Lucid-MS to prevent and reverse myelin degradation; the Company’s Lucid-21-302 clinical development program in multiple sclerosis advancing towards human phase-2 efficacy trials; the Company’s intention to retain 100% of the rights to develop products for pharmaceutical and medical uses; the Company’s intention to maintain a portfolio of strategic investments through FSD Strategic Investments Inc.; MZ playing a key role in assisting the Company to enhance its market awareness and foster productive, continuing dialogues with shareholders and other market participants; MZ being engaged by the Company for the MZ Initial Period; MZ working with the Company to develop and implement a comprehensive capital markets strategy designed to increase the Company’s visibility throughout the investment community; MZ campaign highlighting how Quantum BioPharma is developing a robust pipeline of products and assets focused on addressing significant unmet needs in brain disorders and alcohol health; and the Company’s approach to treatments in brain disorders and alcohol health representing a tremendous revenue potential.

Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company’s assessment of market conditions, its ability to gain market share, and its potential competitive edge are accurate; the Company will have the ability to carry out its plans with respect to its new innovation and offerings, including its ability to conduct research and development of Lucid-MS; the Company’s Lucid-21-302 clinical development program in multiple sclerosis will advance towards human phase-2 efficacy trials; the Company will retain 100% of the rights to develop similar product or alternative formulations specifically for pharmaceutical and medical uses; the Company will seek new business opportunities; the Company will increase efficiency in its processes and partnerships; the Company will have the ability to carry out its other goals and objectives the Company’s intention to maintain a portfolio of strategic investments through FSD Strategic Investments Inc.; MZ will play a key role in assisting the Company to enhance its market awareness and foster productive, continuing dialogues with shareholders and other market participants; MZ will be engaged by the Company for the MZ Initial Period; MZ will work with the Company to develop and implement a comprehensive capital markets strategy designed to increase the Company’s visibility throughout the investment community; the MZ campaign will highlight how Quantum BioPharma is developing a robust pipeline of products and assets focused on addressing significant unmet needs in brain disorders and alcohol health; and the Company’s approach to treatments in brain disorders and alcohol health will have a tremendous revenue potential.

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the Company’s inability to retain 100% of the rights to develop products for pharmaceutical or medical uses; the Company’s inability to enhance its product development capabilities and/or maintain a portfolio of strategic investments; the Company’s Lucid-21-302 clinical development program in multiple sclerosis not advancing towards human phase-2 efficacy trials; the Company will not have the ability to carry out its other goals and objectives the Company’s intention to maintain a portfolio of strategic investments through FSD Strategic Investments Inc.; MZ will not play a key role in assisting the Company to enhance its market awareness and foster productive, continuing dialogues with shareholders and other market participants; MZ will not be engaged by the Company for the MZ Initial Period; MZ will not work with the Company to develop and implement a comprehensive capital markets strategy designed to increase the Company’s visibility throughout the investment community; the MZ campaign will not highlight how Quantum BioPharma is developing a robust pipeline of products and assets focused on addressing significant unmet needs in brain disorders and alcohol health; the Company’s approach to treatments in brain disorders and alcohol health will not have a tremendous revenue potential; and the risks discussed in the Company’s Annual Report on Form 20-F for the fiscal year ended December 31, 2023, final short form base shelf prospectus dated December 22, 2023 and registration statement on Form F-3 containing a base shelf prospectus, each under the heading “Risk Factors”. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Readers are cautioned that the foregoing list is not exhaustive. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events, or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

The reader is urged to refer to additional information relating to Quantum BioPharma, including its annual information form, can be located on the SEDAR+ website at www.sedarplus.ca and on the EDGAR section of the United States Securities and Exchange Commission’s website at www.sec.gov for a more complete discussion of such risk factors and their potential effects.

Contacts:

Quantum BioPharma Ltd.
Zeeshan Saeed, Founder, CEO and Executive Co-Chairman of the Board
Email: Zsaeed@quantumbiopharma.com
Telephone: (833) 571-1811

Investor Relations
Chris Tyson
Executive Vice President
MZ North America
Direct: 949-491-8235
QNTM@mzgroup.us
www.mzgroup.us

Source

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Drilling Commences at Penny South Gold Project, Western Australia

Strata Minerals Limited (ASX: SMX, “Strata” or “the Company”) is pleased to announce commencement of a maiden drill program at its Penny South Gold Project in Western Australia.

Highlights:

  • Maiden drilling program underway at Strata’s Penny South Gold Project in WA’s Goldfields
  • Drill targets lie ~500m immediately south of the high-grade Penny West and Penny North gold deposits currently being mined by Ramelius Resources Limited (ASX:RMS) (723,000 tonnes at 17g/t Au for 3G5,000 ounces1)
  • The planned reverse circulation (RC) drilling program will consist of 13-holes for ~2,800 metres, targeting two priority areas at Penny South
  • Drilling aims to test the interpreted along strike and down plunge mineralised trend from Ramelius’s Penny deposits and immediate down-dip extensions of shallow anomalous intersections from historical drilling
  • The drilling campaign, which is part of a drill-for-equity agreement with Topdrill, is expected to take approximately four weeks with initial results expected late March/April

Managing Director Peter Woods commented:

“It’s fantastic to start drilling at Penny South, targeting two of our priority target areas. We are excited to see what is uncovered at depths immediately along strike from the Penny Mine which is just to the north of us and test down dip extensions of historical shallow anomalous intersections, overlooked by the project’s previous owners. With recent gold discoveries across WA, we’re driven to make Penny South one of those success stories. This first round of drilling will provide critical information to assist us in that pursuit.”

Penny South Gold Project, WA

The Penny South Gold Project (Figure 1) is located in a world class gold district, only ~500m south of the Penny Mine Project – one of Australia’s highest grade producing gold mines, owned and operated by Ramelius Resources Limited (ASX.RMS), with Ramelius recently announcing plans to expand exploration at Penny to the south, towards the northern boundary of Strata’s tenements2.

The Penny West Shear, which controls the location of gold mineralisation at RMS’ Penny North/West gold deposits, extends south into Strata’s Penny South Project, with ~2.5km of strike contained within the project area.

The planned program of 13 reverse circulation (RC) holes, totalling 2,864 metres, aims to test the interpreted along strike and down plunge mineralised trend extensions of the high-grade Penny West and Penny North Gold Deposits, as well as investigating zones of anomalous mineralisation from historical drilling3 (Figure 2).

Strata’s identification of a demagnetised zone within Strata’s Penny South Project, similar to the one associated with the Penny West and Penny North Gold Deposits just to the north of the Penny South Project (~500m), was a key component of the targeting process. The de-magnetised zone is interpreted as the pathway of a mineralising fluid system along the key structural pathways (Figure 3).

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Crypto Market Recap: Bybit Investigates Lazarus Hack, SEC Ends Uniswap Investigation

Here’s a quick recap of the crypto landscape for Wednesday (February 26) as of 9:00 p.m. UTC.

Bitcoin and Ethereum price update

Bitcoin (BTC) is currently trading at US$84,419.28, reflecting a decrease of 4.4 percent over the past 24 hours. The day’s trading range has seen a high of US$88,223.72 and a low of US$82,445.07.

“The price evolution in the coming days will largely depend on market sentiment and how major players respond to global economic conditions. While some see risk in the current situation, others view it as an opportunity to accumulate positions at lower prices, anticipating an eventual recovery.”

Ethereum (ETH) is priced at US$2,330.15, marking a loss of 6.6 percent over the same period. The cryptocurrency reached an intraday high of US$2,453.70 and a low of US$2,265.72.

Altcoin price update

  • Solana (SOL) is currently valued at US$135.33, down 6.5 percent over the past 24 hours. The cryptocurrency recorded an intraday high of US$139.64 and a low of US$130.96.
  • XRP is trading at US$2.22, reflecting a 3.4 percent decrease over the past 24 hours. The cryptocurrency recorded an intraday high of US$2.29 and a low of US$2.17.
  • Sui (SUI) is priced at US$2.88, showing a 2 percent decrease over the past 24 hours. It achieved a daily high of US$3.03 and a low of US$2.75.
  • Cardano (ADA) is trading at US$0.6535, reflecting a 3.9 percent decrease over the past 24 hours. Its highest price on Wednesday was US$0.6831, with a low of US$0.6351.

Crypto news to know

Bybit investigates Lazarus hack, offers reward

Bybit has launched a public appeal and a new website to investigate and track wallet addresses following a hack last week. The attack saw the group Lazarus drain US$1.4 billion from the exchange’s hot wallet. The company’s CEO, Ben Zho, said Bybit is offering a 5 percent reward for information that helps recover stolen assets.

The Bybit hack led to a significant crypto market correction, with Bitcoin, Ethereum, Solana and meme coins all seeing substantial price declines. At the same time, US spot Bitcoin exchange traded funds saw outflows totaling US$937.9 million on Tuesday (February 25), their largest daily net outflow since inception.

Oklahoma advances bill proposing Bitcoin investment

Oklahoma House Bill 1203, known as the Strategic Bitcoin Reserve Act, passed a House Committee vote on Tuesday, advancing for consideration on the floor. The bill was introduced by Representative Cody Maynard (R) on January 15, and would allow the Oklahoma state treasurer to invest public funds in Bitcoin, as well as any digital asset, including stablecoins, with a market cap of US$500 billion or more over the previous calendar year.

South Dakota lawmakers reject Bitcoin reserve proposal

A proposal to add Bitcoin to South Dakota’s state reserves has failed to gain traction, as lawmakers voted to postpone the bill indefinitely during a legislative session on Monday (February 24).

The bill, which sought to make South Dakota the first US state to hold Bitcoin as a treasury asset, was seen as a potential breakthrough for state-level Bitcoin adoption. However, after deliberation, the state’s House Commerce and Energy Committee voted to delay the bill indefinitely, signaling that it will not be revisited this session.

Supporters of the bill had argued that Bitcoin could serve as a hedge against inflation and offer a decentralized alternative to traditional reserve assets. Critics, however, raised concerns over the cryptocurrency’s price volatility and regulatory uncertainty, questioning whether it is a suitable asset for state reserves. Some lawmakers also suggested that South Dakota should wait for more regulatory clarity before making such a move.

Despite the setback, analysts believe other states may still move forward with Bitcoin reserve proposals this year. According to the Bitcoin Reserve Monitor, at least 18 states are currently exploring the idea. Among them, Florida, Utah, Arizona and Texas remain the most likely to push for Bitcoin reserves in 2025.

SEC ends Uniswap investigation, boosting DeFi confidence

The US Securities and Exchange Commission (SEC) has officially closed its investigation into Uniswap Labs, marking a significant moment for the decentralized finance (DeFi) sector.

Uniswap, the leading decentralized exchange, had been under scrutiny since April 2024, when the SEC issued a Wells notice suggesting the platform may have been operating as an unregistered securities exchange.

However, the regulator has now decided against further enforcement, effectively clearing Uniswap of wrongdoing.

Following the news, Uniswap’s governance token UNI jumped 5 percent as investors welcomed the regulatory clarity. In a statement, Uniswap called the decision a “win for DeFi and decentralized technology,” emphasizing that DeFi platforms operate differently from centralized financial entities and should not be subject to the same regulations.

This development comes amid major shifts at the SEC, following Gary Gensler’s departure in early 2025.

Under Acting Chair Mark Uyeda and Commissioner Hester Peirce, the agency has been reevaluating its approach to crypto regulation, leading to the closure of multiple investigations, including those for Robinhood Crypto and OpenSea.

Bank of America eyes stablecoin launch

According to Fortune, Bank of America CEO Brian Moynihan told a group of investors gathered at the Economic Club of Washington, DC, that the bank is ready to launch a stablecoin if legislation to regulate the industry passes in both chambers of Congress. The Lummis-Gillibrand Payment Stablecoin Act, the Clarity for Payment Stablecoins Act of 2024 and the most recently introduced stablecoin bill, the GENIUS bill, are currently being considered.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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