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Lundin Mining (TSX:LUN,OTC Pink:LUNMF) has agreed to sell its Eagle mine and Humboldt mill in Michigan to Talon Metals (TSX:TLO,OTCID:TLOFF), pivoting its US-based operations to focus on domestic supply.

The transaction will see Lundin Mining receive 275.2 million Talon shares, representing 18.4 percent of Talon’s outstanding equity, with a total implied value of approximately US$83.7 million based on recent trading prices.

Following the deal, Lundin Mining’s stake in Talon will rise to 19.99 percent.

The Eagle mine, acquired by Lundin Mining in 2013, has produced more than 194,000 metric tons of nickel and 185,000 metric tons of copper. It had generated over US$3.2 billion in revenue as of the third quarter of 2025.

The strategic rationale for the deal centers on consolidating US nickel-copper assets under a single operator, while allowing Lundin Mining to concentrate on its larger-scale copper operations in Brazil and Chile.

Talon will operate the Eagle mine and Humboldt mill while adding new exploration opportunities, including the Tamarack project and its newly discovered Vault zone. Discovered through recent drilling, Vault features 47.33 meters of 11.01 percent nickel and 11.4 percent copper, as well as platinum-group metals.

“The combination of Talon and Eagle will create a pure-play US nickel company anchored by the Eagle mine, the only primary nickel mine currently operating in the United States,” said Lundin Mining President and CEO Jack Lundin.

“This transaction unlocks meaningful synergies, including the opportunity to leverage the Humboldt Mill as a shared, centralized processing facility,’ the executive added.

Darby Stacey, who has managed Eagle mine operations since commissioning, will assume the role of CEO and director of Talon. Lundin Mining will nominate Jack Lundin and Juan Andrés Morel to Talon’s reconstituted 10 member board.

The deal also includes arrangements such as a production payment agreement for non-Eagle ore processed at the Humboldt mill, transitional services provided by Lundin Mining and investor rights protections.

The transaction is expected to close in early January 2026, pending approval from the TSX and customary closing conditions. Talon will continue to trade on the TSX under the symbol TLO.

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

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(TheNewswire)

      

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

TORONTO, ONTARIO (December 22, 2025) TheNewswire – Laurion Mineral Exploration Inc. (TSX.V: LME|OTC: LMEFF|FSE: 5YD) (‘LAURION’ or the ‘Corporation’) is pleased to announce that it has closed its previously-announced non-brokered private placement (the ‘Private Placement’) consisting of flow-through units (the ‘FT Units’). Pursuant to the Private Placement, the Corporation issued 4,619,130 FT Units at a subscription price of $0.33 per FT Unit, for aggregate gross proceeds to the Corporation of $1,524,313.

Each FT Unit consists of one common share of the Corporation (each, a ‘FT Share‘) and one-half of one common share purchase warrant (each, a ‘Warrant‘). Each Warrant entitles the holder thereof to acquire one non flow-through common share of the Corporation at a price of $0.39 per share for a period of 24 months from the date of issuance. The FT Shares and the Warrants comprising the FT Units qualify as ‘flow-through shares’, as defined in subsection 66(15) of the Income Tax Act (Canada) (the ‘Tax Act‘).

The gross proceeds of the Private Placement will be used for ‘Canadian exploration expenses’ (within the meaning of the Tax Act), which will qualify, once renounced, as ‘flow-through mining expenditures’, as defined in the Tax Act, which will be renounced with an effective date of no later than December 31, 2025 (provided the subscriber deals at arm’s length with the Corporation at all relevant times) to the initial purchasers of FT Units in an aggregate amount not less than the gross proceeds raised from the issue of the FT Units. LAURION intends to allocate the proceeds from the Private Placement to advance the Corporation’s 2026 drill program on the Ishkõday property. Planned drilling will focus on key areas within the A-Zone/McLeod and CRK Trend, as well as the historic Sturgeon River Mine area. These zones have been prioritized based on their structural characteristics, surface observations and past drill results, as LAURION continues to build on its growing understanding of the broader mineralized system.

‘This financing enables us to keep advancing our disciplined, technically driven approach to unlocking the potential of the Ishkõday system,’ said Cynthia Le Sueur-Aquin, President and CEO. ‘We are targeting areas with strong structural and geological signals, guided by strong technical fundamentals and a clear strategy for long-term value creation.’

In connection with the Private Placement, certain arm’s-length finders received an aggregate of $66,559 as a cash finder’s commission and an aggregate of 201,693 finder’s warrants. Each finder’s warrant entitles the holder thereof to acquire one non flow-through common share of the Corporation at a price of $0.33 per share for a period of 24 months from the date of issuance.

Pursuant to applicable Canadian securities laws, all securities issued pursuant to the Private Placement are subject to a hold period of four months and one day, expiring on April 23, 2026. The Private Placement remains subject to the final approval of the TSX Venture Exchange (the ‘TSXV‘).

About LAURION Mineral Exploration Inc.

 

The Corporation is a mid-stage junior mineral exploration and development company listed on the TSXV under the symbol LME and on the OTCPINK under the symbol LMEFF. LAURION now has 278,716,413 outstanding shares, of which approximately 73.6% are owned and controlled by insiders who are eligible investors under the ‘Friends and Family’ categories.

 

LAURION’s emphasis is on the exploration and development of its flagship project, the 100% owned mid-stage 57 km2 Ishkõday Project, and its gold-rich polymetallic mineralization.

 

LAURION’s chief priority remains maximizing shareholder value. A large portion of the Corporation’s focus in this regard falls within the scope of its mineral exploration activities and more specifically, advancing the Ishkõday Project. A consequence of LAURION’s success and advancement over the past several years is that the Corporation has become positioned as an acquisition target for appropriate potential acquirors. Accordingly, the Corporation’s Board of Directors is aware that possible strategic alternatives and transactional opportunities may arise and/or could be procured in the short or medium terms. The Corporation will promptly issue a press release if any material change occurs.

 

FOR FURTHER INFORMATION, CONTACT:


LAURION Mineral Exploration Inc.

 

Cynthia Le Sueur-Aquin – President and CEO

Tel: 1-705-788-9186 Fax: 1-705-805-9256

 

Douglas Vass – Investor Relations Consultant

Email: info@laurion.ca

 

Website: http://www.LAURION.ca

 

Follow us on: X (@LAURION_LME), Instagram (laurionmineral) and LinkedIn ()

 

Caution Regarding Forward-Looking Information

 

This press release contains forward-looking statements, which reflect the Corporation’s current expectations regarding future events including with respect to LAURION’s business, operations and condition, management’s objectives, strategies, beliefs and intentions, the use of proceeds of the Private Placement, the Corporation’s ability to advance, expand and/or develop the Ishkõday Project and any possible strategic alternatives and transactional opportunities that may arise and/or could be procured in the future with respect to the Corporation. The forward-looking statements involve risks and uncertainties. Actual events and future results, performance or achievements expressed or implied by such forward-looking statements could differ materially from those projected herein including as a result of a change in the trading price of the common shares of LAURION, the TSXV not providing its final approval for the Private Placement (including the payment of finders’ fees in connection therewith) or any strategic alternatives or transactional opportunities, the interpretation and actual results of current exploration activities, future prices of gold and/or other metals, and those factors disclosed in the Corporation’s publicly filed documents. Investors should consult the Corporation’s ongoing quarterly and annual filings, as well as any other additional documentation comprising the Corporation’s public disclosure record, for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. Subject to applicable law, the Corporation disclaims any obligation to update these forward-looking statements. All sample values are from grab samples and channel samples, which by their nature, are not necessarily representative of overall grades of mineralized areas. Readers are cautioned to not place undue reliance on the assay values reported in this press release.

 

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

  

Copyright (c) 2025 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

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Erika Kirk welcomed rapper Nicki Minaj as the surprise guest for a Q&A at Turning Point USA’s AmericaFest on Sunday.

The ‘Beez in the Trap’ singer previously teamed up with the Trump White House, speaking at the United Nations in November to raise awareness about persecution against Christians in Nigeria. Rumors had grown that Minaj would make an appearance at AmericaFest, but it was not confirmed until she went on stage Sunday.

‘I’m honored to be here. I’m honored to be here,’ Minaj said after Kirk welcomed her to the stage.

She went on to praise both President Donald Trump and Vice President JD Vance, saying they are politicians who have an ‘uncanny’ ability to relate to the American people.

‘I love both of them,’ she said of the two leaders.

Despite previously supporting Democrats like Barack Obama and Hillary Clinton, Minaj has increasingly shown support for Trump lately.

On Nov. 1, Minaj posted a screenshot of a Trump Truth Social post where he said, ‘Christianity is facing an existential threat in Nigeria.’

She wrote, ‘Reading this made me feel a deep sense of gratitude. We live in a country where we can freely worship God. No group should ever be persecuted for practicing their religion.’

Minaj continued, ‘We don’t have to share the same beliefs in order for us to respect each other. Numerous countries all around the world are being affected by this horror & it’s dangerous to pretend we don’t notice.’

She thanked the ‘President & his team for taking this seriously. God bless every persecuted Christian. Let’s remember to lift them up in prayer.’

She has also repeatedly attacked California Gov. Gavin Newsom over his stance on transgender children.

Kirk has stepped in as the chairwoman and CEO of Turning Point USA since the murder of her husband, late Turning Point USA CEO Charlie Kirk, in September.

Kirk spoke at the conservative AmFest on Thursday, telling the crowd, ‘Here’s what I’ve learned the most in these last three months is that my husband, he deeply mattered on a multitude of levels, so much so that it proved even more once he was assassinated, how much of a peacemaker he was and how much of a coalition builder he was.’

She added that both her husband and she would choose fight mode over flight in any situation. 

‘You don’t retreat,’ she said. ‘Charlie would go wherever he needed to go, and I’m the same exact way … And you’ll learn that about me the more you get to know me. I know I’m new here, I’m new here, but you’ll learn.’

This post appeared first on FOX NEWS

While it is true that Erika Kirk is head of one of the nation’s leading conservative groups, at one point this weekend at Turning Point USA’s AmericaFest, she made it clear that she holds an even more important title: mother.

After two days of infighting at the conference between some of its top stars, Kirk smiled on stage Friday night and said, ‘Well, say what you want about AmFest, but it’s definitely not boring. Feels like a Thanksgiving dinner where your family’s hashing out the family business.’

This is the best and most positive way to look at the squabbling in Phoenix between Ben Shapiro, Tucker Carlson, Megyn Kelly and other right-wing celebrities. It has been mostly over Israel, and it was a sideshow few attendees expected or particularly wanted.

Brent, in his 50s and from Oklahoma City, came to AmFest with his two sons.

‘I was in there the night Ben and Tucker went at each other, at one point, I told my wife, I’m going out for some air, I just felt like I needed to escape to the real world, you know?’ he told me over a smoke.

I did know. 

Along with sniping over Israel and antisemitism, the question of what a ‘heritage American’ is, or if it is a thing at all, also spurred division. Ohio gubernatorial candidate Vivek Ramaswamy told the crowd, ‘I think the idea of a heritage American is about as loony as anything the woke left has actually put up,’ adding ‘There is no American who is more American than somebody else.… It is binary. Either you’re an American or you’re not.’

This would have been Civics 101, even for conservatives, not long ago, but Ramaswamy is right to mention wokeness, because proponents of the concept that a genealogy that leads back to nation’s founding is something special is mainly driven by such people being told for decades now that it is actually the only lineage that is not special, or something to be proud of.

I asked Dennis, who is the fourth-generation owner of a farm in South Dakota, which sounds pretty heritage-y to me, what he made of it all.

‘I don’t think much about that,’ he said. ‘If you love the country and follow the laws, you can be an American.’

Dennis was much more interested in, and comfortable talking about soybeans and sugar beets. I asked how the tariffs were affecting him, and he told me, ‘It’s hurt, but I look at the big picture and I think it will be good in the long run.’

It was tempting after speaking, not just with Dennis, but with many attendees, old and young, who are most focused on prices, to think, ‘It’s the economy, stupid, knock it off with the identity politics stuff.’ But Erika Kirk made a good point: These might be fights the right needs to have before settling into next year’s midterm elections.

TPUSA spokesman Andrew Kolvet posted on X with this very message.

‘If we force conformity without uncomfortable debates, there can be no winning consensus,’ he wrote. ‘There’s no civil war. This is the necessary work of a conservative coalition defining its dominant center ahead of the coming battles. We’re not hive-minded commies. Let it play out.’

It should also be noted how much better hashing all of this out at an actual live event is than endless sniping on social media where nobody is ever really forced to contend with ideas they oppose. The mere act of shaking hands with someone you disagree with can be a powerful calming influence.

On Sunday, the big finale of AmFest will be Vice President JD Vance’s speech to the assembled. As of 4 a.m., there was already a line for it.

Sarah, a college freshman told me, ‘I wasn’t old enough to vote for Trump, but I will get to vote for Vance, and I’m excited about that.’ This is good news for Vance, but it’s also a lot of pressure. Can he be the force that mends the wounds opening this weekend at AmFest? 

Erika Kirk is right, families sometimes fight. In fact, sometimes they have to. But the question is always what happens after the blowup, after the tears and recriminations?

Rep. Anna Paulina Luna, R-Fla., told the crowd this weekend, ‘You may not like Tucker Carlson, Ben Shapiro, Steve Bannon or me. Guess what: If the radical left wins, we all hang together.’

This seems correct, and even after AmFest’s nasty internecine fighting, it is still a goal well within reach of TPUSA and the conservative movement. It is also almost certainly what Charlie Kirk would have wanted.

This post appeared first on FOX NEWS

The Department of Homeland Security (DHS) is disputing reports that acting Cybersecurity and Infrastructure Security Agency (CISA) Director Madhu Gottumukkala failed a polygraph after seeking access to highly sensitive intelligence, as an internal investigation and the suspension of multiple career cybersecurity officials deepen turmoil inside the agency, according to a report.

Politico reported that Gottumukkala pushed for access to a tightly restricted intelligence program that required a counter-intelligence polygraph and that at least six career staffers were later placed on paid administrative leave for allegedly misleading leadership about the requirement, an assertion DHS strongly denies.

The outlet said its reporting was based on interviews with four former and eight current cybersecurity officials, including multiple Trump administration appointees who worked with Gottumukkala or had knowledge of the polygraph examination and the events that followed. All 12 were granted anonymity over concerns about retaliation, according to Politico.

DHS pushed back on the reporting, saying the polygraph at issue was not authorized and that disciplinary action against career staff complied with department policy.

‘Acting Director Madhu Gottumukkala did not fail a sanctioned polygraph test. An unsanctioned polygraph test was coordinated by staff, misleading incoming CISA leadership,’ DHS Assistant Secretary Tricia McLaughlin said in a statement provided to Fox News Digital. ‘The employees in question were placed on administrative leave, pending conclusion of an investigation.’

‘We expect and require the highest standards of performance from our employees and hold them directly accountable to uphold all policies and procedures,’ she continued. ‘Acting Director Gottumukkala has the complete and full support of the Secretary and is laser focused on returning the agency to its statutory mission.’

Politico also reported that Gottumukkala failed a polygraph during the final week of July, citing five current officials and one former official.

The test was administered to determine whether he would be eligible to review one of the most sensitive intelligence programs shared with CISA by another U.S. spy agency, according to the outlet.

That intelligence was part of a controlled access program with strict distribution limits, and the originating agency required any CISA personnel granted need-to-know access to first pass a counter-intelligence polygraph, according to four current officials and one former official cited by Politico.

As a civilian agency, most CISA employees do not require access to such highly classified material or a polygraph to be hired, though polygraphs are commonly used across the Pentagon and U.S. intelligence community to protect the government’s most sensitive information.

Politico reported that senior staff raised questions on at least two occasions about whether Gottumukkala needed access to the intelligence, but said he continued pressing for it even if it meant taking a polygraph, citing four current officials.

The outlet also reported that an initial access request in early June, signed by mid-level CISA staff, was denied by a senior agency official who determined there was no urgent need-to-know and noted that the agency’s previous deputy director had not viewed the program.

That senior official was later placed on administrative leave for unrelated reasons in late June, and a second access request signed by Gottumukkala was approved in early July after the official was no longer in the role, according to current officials cited by Politico.

Despite being advised that access to the most sensitive material was not essential to his job and that lower-classification alternatives were available, Gottumukkala continued to pursue access, officials told the outlet.

Officials interviewed by Politico said they could not definitively explain why Gottumukkala did not pass the July polygraph and cautioned that failures can occur for innocuous reasons such as anxiety or technical errors, noting that polygraph results are generally not admissible in U.S. courts.

On Aug. 1, shortly after the polygraph, at least six career staff involved in scheduling and approving the test were notified in letters from then–acting DHS Chief Security Officer Michael Boyajian that their access to classified national security information was being temporarily suspended for potentially misleading Gottumukkala, according to officials and a letter reviewed by Politico.

‘This action is being taken due to information received by this office that you may have participated in providing false information to the acting head of the Cybersecurity and Infrastructure Security Agency (CISA) regarding the existence of a requirement for a polygraph examination prior to accessing certain programs,’ the letter said. ‘The above allegation shows deliberate or negligent failure to follow policies that protect government information, which raises concerns regarding an individual’s trustworthiness, judgment, reliability or willingness and ability to safeguard classified information.’

In a separate letter dated Aug. 4, the suspended employees were informed by Acting CISA Chief Human Capital Officer Kevin Diana that they had been placed on paid administrative leave pending an investigation, according to current and former officials and a copy reviewed by Politico.

Gottumukkala was appointed CISA deputy director in May and previously served as commissioner and chief information officer for South Dakota’s Bureau of Information and Technology, which oversees statewide technology and cybersecurity initiatives.

CISA said in a May press release that Gottumukkala has more than two decades of experience in information technology and cybersecurity across the public and private sectors.

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The U.S. Department of Justice (DOJ) said Sunday it restored a photo featuring President Donald Trump to its latest release of Jeffrey Epstein–related documents after a review determined the image did not depict any Epstein victims.

In a post on X, the DOJ said the photo was initially taken down ‘out of an abundance of caution’ after the Southern District of New York flagged it for additional review to protect potential victims.

Following a review, officials concluded no Epstein victims were shown in the photograph, and it was reposted without ‘alteration or redaction,’ according to the DOJ.

‘The Southern District of New York flagged an image of President Trump for potential further action to protect victims,’ the DOJ wrote. ‘Out of an abundance of caution, the Department of Justice temporarily removed the image for further review. After the review, it was determined there is no evidence that any Epstein victims are depicted in the photograph, and it has been reposted without any alteration or redaction.’

Earlier Sunday, Deputy Attorney General Todd Blanche said the removal of the photo had ‘nothing to do with President Trump’ and was instead driven by concerns for the women depicted, he said during an appearance on NBC’s ‘Meet the Press.’

The explanation came after reports that at least 16 files had disappeared from the DOJ’s Epstein-related public webpage less than a day after they were posted on Friday, without public notice or an initial explanation, The Associated Press reported.

The missing files included one that showed a series of photos displayed on a cabinet and inside a drawer. In the drawer, there was a photo of Donald Trump pictured alongside Melania Trump, Epstein and Ghislaine Maxwell, AP reported.

On Saturday, Democrats on the House Oversight Committee criticized the removal of the photo, writing, ‘We need transparency for the American public.’

‘This photo, file 468, from the Epstein files that includes Donald Trump has apparently now been removed from the DOJ release,’ Democrats on the House Oversight Committee posted on X. ‘[Attorney General Pam Bondi] is this true? What else is being covered up? We need transparency for the American public.’

The DOJ released the trove of files after The Epstein Files Transparency Act, signed by President Trump on Nov. 19, 2025, required AG Pam Bondi to release all unclassified records, communications and investigative materials related to Epstein within 30 days.

The agency posted thousands of pages on a government website Friday related to Epstein’s and Maxwell’s sex-trafficking cases. The files were released as the result of a deadline imposed by the Epstein Files Transparency Act.

Fox News Digital’s Lori Bashian contributed to this report.

This post appeared first on FOX NEWS

Silver Dollar Resources (CSE:SLV,OTCQX:SLVDF,FSE:4YW) (CSE:SLV,OTCQX:SLVDF,FSE:4YW) is a precious metals exploration company targeting high-grade silver and gold opportunities in Mexico. Its cornerstone asset is the La Joya silver–gold–copper project, situated in the southern Durango–Zacatecas silver belt, one of the most productive silver districts globally.

La Joya has seen substantial historical exploration, with more than 51,600 metres drilled in 182 holes defining several mineralized zones, including the Main Mineralized Trend, Santo Niño, and Coloradito. The company is now revisiting the project with an underground-oriented exploration approach, combining structural interpretation, underground sampling, and a detailed review of historic drill core to pinpoint higher-grade mineralization at depth.

Beyond La Joya, Silver Dollar owns the Nora silver–gold project in Durango, home to the historic Candy mine and an epithermal vein system that has delivered high-grade surface sampling results. The company also holds an equity stake in Bunker Hill Mining following the divestment of the Ranger-Page project, offering leveraged exposure to the anticipated production restart in Idaho’s Silver Valley in early 2026.

Company Highlights

  • 100 percent owned La Joya project, an advanced-stage silver-gold-copper system in Mexico’s Durango-Zacatecas silver belt
  • La Joya was originally proposed as an open pit in 2013 based on US$24 silver, US$1,200 gold and US$3 copper
  • Strategic shift toward evaluating La Joya’s high-grade underground potential supported by new 3D geological modeling, underground sampling, and drill target development
  • Completed sale of the Ranger-Page project to Bunker Hill Mining, providing equity exposure to a near-term US silver producer
  • Fully funded to carry out planned exploration programs through 2026
  • Largest shareholder is mining investor Eric Sprott, with approximately 17.5 percent ownership
  • Multiple exploration catalysts planned, including drilling at La Joya in early 2026

This Silver Dollar Resources profile is part of a paid investor education campaign.*

Click here to connect with Silver Dollar Resources (CSE:SLV,OTCQX:SLVDF,FSE:4YW) to receive an Investor Presentation

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After peaking above US$20,000 per metric ton (MT) in May 2024, nickel prices have trended steadily downward.

Behind the numbers is a persistent oversupply driven by Indonesia’s high output, the world’s largest nickel producer.

At the same time, demand from China’s manufacturing and construction sectors, a traditional driver of stainless steel, has been weak as the country’s beleaguered real estate sector continues to find its footing.

Read on to learn what other key factors moved the nickel sector in 2025.

Nickel price in Q4

There wasn’t much change at the start of the quarter; the price was essentially trading in the US$15,000 to US$15,500 range, the same as it had since recovering from the post-liberation day tariff announcement rout in the base metals market in April that sent the price spiraling to a year-to-date low of US$14,150.

Nickel price, December 19, 2024, to December 18, 2025.

Chart via TradingEconomics.

However, cracks began to form at the end of October as it became clearer that the oversupply situation was likely to persist, pushing prices back below the US$15,000 mark by mid-November.

Prices for nickel rebounded in late November, but failed to break the US$15,000 again and slid toward a yearly low, reaching US$14,235 on December 15.

Oversupply continues to weigh on nickel

At the end of the year’s third quarter, the expectation was that nickel prices would carry momentum as the monsoon season arrived in the Philippines; however, despite seasonal declines in output, the market ‘s supply glut persisted, and prices continued to trend lower at the end of the period.

As of September 30, London Metal Exchange (LME) warehouses held 231,504 MT of nickel, and by November 28, stockpiles had grown to 254,364 MT, nearly 100,000 MT higher than the start of 2025.

According to a mid-December Shanghai Metals Market article, refined production decreased by 25,800 MT in November. Still, it was outpaced by inventory accumulation, as downstream demand remained soft.

On the demand side, stockpile buildups coincided with the traditional off-season for stainless steel producers, which accounts for 60 percent of total nickel demand, and weak end-use consumption led some producers to initiate output cuts. Additionally, Shanghai Metals Market notes that stainless demand was further impacted by the superior economics of recycled materials. The outlet also states that although production costs in Indonesia are lower than elsewhere, the price of nickel is rapidly approaching producers’ break-even point.

In February, the Indonesian government changed its quota system, increasing nickel ore output to 298.5 million wet metric tons from 271 million wet metric tons in 2024. The move from the top nickel producer was designed to alleviate supply pressures, with increased production limited to major production areas.

This was followed in October by a change to the length of time production quotas were valid, shortening it to one year from three years, and forcing miners to reapply for previously approved quotas for 2026 and 2027.

Changes were made to the application system after companies failed to meet environmental obligations, and companies will now have to submit proof they have the financial means to remediate land after operations are complete.

Adding to the metal’s woes at the end of the year is demand from the electric vehicle (EV) sector slipping as more battery producers pivot away from nickel in their chemistries, as cheaper lithium-iron-phosphate batteries improve efficiency.

For her part, Manthey, explained that everything has aligned for a bear market.

“LME stockpiles are at a four-year high, with Chinese and Indonesian cathode dominating,” she said, adding that growth in battery metals was slower than expected, and that demand for stainless steel was sluggish on the back of global weakness in manufacturing.

How did nickel perform for the rest of the year?

The rest of the year wasn’t much different for nickel.

The oversupply situation carried over from 2024, with Indonesian producers making up roughly 60 percent of the market. Likewise, curtailments continued among western producers as prices were unable to cover costs.

In April, the Indonesian government made a significant change to its royalty rates, hiking them to between 14 and 19 percent, depending on the nickel price. That’s up from the country’s previously imposed 10 percent flat rate, with a 2 percent royalty on nickel mattes destined for battery production.

As the second quarter began, base metal prices sank amid rising expectations of a global recession following US President Donald Trump’s “Liberation Day” tariff announcement on April 2.

Markets rebounded after their initial tariff plans were walked back, following a bond market squeeze that pushed 10 year treasury yields up by more than half a percentage point.

Nickel faced further pressures in July as the One Big Beautiful Bill was signed into law in the US, ending the federal EV tax credit, as well as other tax credits for expanding charging infrastructure. The change came into effect on September 30 and eliminated a US$7,500 rebate on the purchase of new EVs. Before the end of the tax credit, data showed that American EV sales reached a record 1.2 million through the first nine months of 2025, with the share for EVs climbing to 12 percent in Q3 as consumers made purchases ahead of the program’s end.

Q4 data shows EV sales have declined significantly since the tax credit expired, and interest in EVs has fallen by 20 percent. The fall caused Ford Motor (NASDAQ:F) to pull back on its EV plans and take a US$19.5 billion writedown.

Investor takeaway

Nickel prices continued on a downtrend in 2025, and expectations aren’t much different for the year ahead.

Until the metal see ssustained upward momentum, it’s unlikely that curtailed western operations will be restarted.

For experienced investors, this may offer an opportunity to enter a market closer to the bottom than the top. However, until there is a significant correction in supply and demand fundamentals, the nickel market won’t have much of a tailwind, leading to a riskier market, that may have a lengthy period before returns are realized, if at all.

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

This post appeared first on investingnews.com

A bipartisan Obamacare fix remains out of reach in the Senate, for now, and lawmakers can’t agree on who is at fault. 

While many agree that the forthcoming healthcare cliff will cause financial pain, the partisan divide quickly devolved into pointing the finger across the aisle at who owns the looming healthcare premium spikes that Americans who use the healthcare exchange will face. 

Part of the finger-pointing has yielded another surprising agreement: Lawmakers don’t see the fast-approaching expiration of the Biden-era enhanced Obamacare subsidies as Congress failing to act in time.

‘Obviously, it’s not a failure of Congress to act,’ Sen. Chris Murphy, D-Conn., told Fox News Digital. ‘It’s a failure of Republicans to act. Democrats are united and wanting to expand subsidies. Republicans want premium increases to go up.’

Senate Republicans and Democrats both tried, and failed, to advance their own partisan plans to replace or extend the subsidies earlier this month. And since then, no action has been taken to deal with the fast-approaching issue, guaranteeing that the subsidies will lapse at the end of the year.

A report published last month by Kaiser Family Foundation, a nonprofit healthcare think tank, found that Americans who use the credits will see an average increase of 114% in their premium costs.

The increase can vary depending on how high above the poverty level a person is. The original premium subsidies set a cap at 400% above the poverty level, while the enhanced subsidies, which were passed during the COVID-19 pandemic, torched the cap.

For example, a person 60 years or older making 401% of the poverty level, or about $62,000 per year, would on average see their premium prices double. That number can skyrocket depending on the state. Wyoming clocks in at the highest spike at 421%.

In Murphy’s home state of Connecticut, premiums under the same parameters would hike in price by 316%.

‘When these do lapse, people are going to die,’ Murphy said. ‘I mean, I was talking to a couple a few months ago who have two parents, both with chronic, potentially life-threatening illnesses, and they will only be able to afford insurance for one of them. So they’re talking about which parent is going to survive to raise their three kids. The stakes are life and death.’

Both sides hold opposing views on the solution. Senate Republicans argue that the credits effectively subsidize insurance companies, not patients, by funneling money directly to them, and that the program is rife with fraud.

Senate Democrats want to extend the subsidies as they are, and are willing to negotiate fixes down the line. But for the GOP, they want to see some immediate reforms, like income caps, anti-fraud measures and more stringent anti-abortion language tied to the subsidies.

Sen. Rick Scott, R-Fla., who produced his own healthcare plan that would convert subsidies into health savings accounts (HSAs), argued that congressional Democrats ‘set this up to expire.’

But he doesn’t share the view that the subsidies’ expected expiration is a life-or-death situation.

‘I’m not taxing somebody who makes 20 bucks an hour to pay for healthcare for somebody who makes half a million dollars a year, that’s what they did,’ he told Fox News Digital. ‘All they did was mask the increase in healthcare costs. That’s all they did with it.’

Sen. Jim Banks, R-Ind., similarly scoffed at the notion, and told Fox News Digital, ‘The Democrat plan to extend COVID-era Obamacare subsidies might help less than half a percent of the American population.’

‘The Republican plan brings down healthcare costs for 100% of Americans,’ he said. ‘More competition, expands health savings accounts. That needs to be the focus.’

Democrats are also not hiding their disdain for the partisan divide between their approaches to healthcare.

Sen. Brian Schatz, D-Hawaii, told Fox News Digital that the idea that this ‘is a congressional failure and not a Republican policy is preposterous.’

‘They’ve hated the Affordable Care Act since its inception and tried to repeal it at every possible opportunity,’ he said, referring to Obamacare. ‘The president hates ACA, speaker hates ACA, majority leader hates ACA, rank-and-file hate ACA. And so this is not some failure of bipartisanship.’

While the partisan rancor runs deep on the matter of Obamacare, there are Republicans and Democrats working together to build a new plan. Still, it wouldn’t deal with the rapidly approaching Dec. 31 deadline to extend the subsidies.

Senate Majority Leader John Thune, R-S.D., predicted that the Senate would have a long road to travel before a bipartisan plan came together in the new year, but he didn’t rule it out.

‘It’s the Christmas season. It would take a Christmas miracle to execute on actually getting something done there,’ he said. ‘But, you know, I think there’s a potential path, but it’ll be heavy lift.’

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