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Trading resumes in:

 

Company:  Prismo Metals Inc.  

 

CSE Symbol: PRIZ  

 

All Issues: Yes  

 

Resumption (ET):   8:00 AM   7/21/2025   

 

CIRO can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. CIRO is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada .

 

SOURCE Canadian Investment Regulatory Organization (CIRO) – Halts/Resumptions

 

 

 

  View original content: http://www.newswire.ca/en/releases/archive/July2025/18/c4294.html  

 

 

 

News Provided by Canada Newswire via QuoteMedia

This post appeared first on investingnews.com

Strong demand in the face of looming supply shortages has pushed copper to new heights in recent years.

With a wide range of applications in nearly every sector, copper is by far the most industrious of the base metals. In fact, for decades, the copper price has been a key indicator of global economic health, earning the red metal the moniker “Dr. Copper.” Rising prices tend to signal a strong global economy, while a significant longer-term drop in the price of copper is often a symptom of economic instability.

After bottoming out at US$2.17 per pound, or US$5,203.58 per metric ton (MT), in mid-March 2020, copper has largely been on an upward trajectory.

Why is copper so expensive in 2025? Higher copper prices over the past few years have largely been attributed to a widening supply/demand gap. The already tenuous copper supply picture was made worse by COVID-19 lockdowns, and as the world’s largest economies seemingly began to emerge from the pandemic, demand for the metal picked up once again. Copper mining and refining activities simply haven’t kept up with the rebound in economic activity.

In this article

    What key factors drive the price of copper?

    Robust demand has long been one of the strongest factors driving copper prices. The ever-growing number of copper uses in everyday life — from building construction and electrical grids to electronic products and home appliances — make it the world’s third most-consumed metal.

    Copper’s anti-corrosive and highly conductive properties are why it’s the go-to metal for the construction industry, and it’s used in products such as copper pipes and copper wiring. In fact, construction is responsible for nearly half of global copper consumption. Rising demand for new homes and home renovations in both Asian and Western economies is expected to support copper prices in the long term.

    In recent decades, copper price spikes have been strongly tied to rising demand from China as the economic powerhouse injects government-backed funding into new housing and infrastructure. Industrial production and construction activity in the Asian nation have been like rocket fuel for copper prices.

    Additionally, copper’s conductive properties are increasingly being sought after for use in renewable energy applications, including thermal, hydro, wind and solar energy.

    However, the biggest driver of copper consumption in the renewable energy sector is rising global demand for electric vehicles (EVs), EV charging infrastructure and energy storage applications. As governments push forward with transportation network electrification and energy storage initiatives as a means to combat climate change, copper demand from this segment is expected to surge.

    New energy vehicles use significantly more copper than internal combustion engine vehicles, which only contain about 22 kilograms of copper. In comparison, hybrid EVs use an average of 40 kilograms, plug-in hybrid EVs use 55 kilograms, battery EVs use 80 kilograms and battery electric buses use 253 kilograms.

    In 2024, EV sales worldwide increased by 25 percent over 2023 to come in at about 17.1 million units, and analysts at Rho Motion expect that trend to continue in the coming years despite some headwinds in the near-term. Already in the first five months of 2025, EV sales were up 28 percent over the same period in the previous year.

    On the supply side of the copper market, the world’s largest copper mines are facing depleting high-grade copper resources, while over the last decade or more new copper discoveries have become few and far between.

    The pandemic made the situation worse as mining activities in several top copper-producing countries faced work stoppages and copper companies delayed investments in further exploration and development — a challenging problem considering it can take as many as 10 to 20 years to move a project from discovery to production. In addition, delayed investments amid the pandemic will also have long-term repercussions for copper supply.

    There have also been ongoing production issues at major copper mines, most notably the shutdown in late 2023 of First Quantum Minerals’ (TSX:FM,OTC Pink:FQVLF) Cobre Panama mine, which accounted for about 350,000 MT of the world’s annual copper production.

    The International Energy Agency (IEA) is forecasting a 30 percent shortfall in the amount of copper needed to meet demand by 2035. “This will be a major challenge. It’s time to sound the alarm,” IEA Executive Director Fatih Birol said.

    The supply shortage has increased the need for end users to turn to the copper scrap market to make up for the supply shortage. Sometimes referred to as “the world’s largest copper mine,” recycled copper scrap contributes significantly to supplying and balancing the copper market.

    “We are seeing signs this could change. Much of the growth over the last five years has come from brownfield expansions rather than greenfield/new discoveries,’ she said. ‘Technology will likely help increase the chance of discovery, and broadly I would say that policymakers are now more supportive of mineral exploration as the push to secure critical raw materials supply has moved up the agenda.’

    Joannides offered some examples of greenfield projects in the pipeline: Capstone Copper’s (TSX:CS,OTC Pink:CSCCF) Santo Domingo in Chile, Southern Copper’s (NYSE:SCCO) Tia Maria in Peru and Teck Resources’ (TSX:TECK.A,TECK.B,NYSE:TECK) Zafranal in Peru.

    How has the copper price moved historically?

    Taking a look back at historical price action, the copper price has had a wild ride for more than two decades.

    Sitting at US$1.38 per pound in late January 2005, the copper price followed global economic growth up to a high of US$3.91 in April 2008. Of course, the global economic crisis of 2008 soon led to a copper crash that left the metal at only US$1.29 by the end of year.

    Once the global economy began to recover in 2011, copper prices posted a new record high of US$4.58 per pound at the start of the year. However, this high was short-lived as the copper price began a five year downward trend, bottoming out at around US$1.95 in early 2016.

    Copper prices stayed fairly flat over the next four years, moving in a range of US$2.50 to US$3 per pound.

    20 year copper price performance.

    Chart via Macrotrends.

    The pandemic’s impact on mine supply and refined copper in 2020 pushed prices higher despite the economic slowdown. The copper price climbed from a low of US$2.17 in March to close out the year at US$3.52.

    In 2021, signs of economic recovery and supercharged interest in EVs and renewable energy pushed the price of copper to rally higher and higher. Copper topped US$4.90 per pound for the first time ever on May 10, 2021, before falling back to close at US$4.76.

    Also affecting the copper price at that time was expectations for higher copper demand amid supply concerns out of two of the world’s major copper producers: Chile and Peru. In late April 2021, port workers in Chile called for a strike, while in Peru presidential candidate Pedro Castillo proposed nationalizing mining and redrafting the country’s constitution.

    In early May 2021, news broke that copper inventories were at their lowest point in 15 years. Expert market watchers such as Bank of America commodity strategist Michael Widmer warned that further inventory declines into 2022 could lead to a copper market deficit.

    After climbing to start 2022 at US$4.52, the copper price continued to spike on economic recovery expectations and supply shortages to reach US$5.02 per pound on March 6. Throughout the first quarter, fears of supply chain disruptions and historically low stockpiles amid rising copper demand drove prices higher.

    However, copper prices pulled back in mid-2022 on worries that further COVID-19 lockdowns in China, as well as a growing mortgage crisis, would slow down construction and infrastructure activity in the Asian nation. Rising inflation and interest hikes by the Fed also placed downward pressure on a wide basket of commodities, including copper. By late July 2022, copper prices were trading down at nearly a two year low of around US$3.30.

    In the early months of 2023 the copper price was trading over the US$4 per pound level after receiving a helpful boost from continuing concerns about low copper inventories, signs of rebounding demand from China, and news about the closure of Peru’s Las Bambas mine, which accounts for 2 percent of global copper production.

    However, that boost turned to a bust in the second half of 2023 as China continued to experience real estate sector issues, alongside the economic woes of the rest of the world. The price of copper dropped to a low for the year of US$3.56 per pound in mid October.

    Elevated supply levels kept copper trading in the US$3.50 to US$3.80 range for much of Q1 2024 before experiencing strong gains that pushed the price of the red metal to US$4.12 on March 18.

    Those gains were attributed to in part to tighter copper concentrate supply following the closure of First Quantum Minerals’ Cobre Panama mine, guidance cuts from Anglo American (LSE:AAL,OTCQX:AAUKF) and declining production at Chile’s Chuquicamata mine. In addition, China’s top copper smelters announced production cuts after limited supply led to lower profits from treatment and refining charges.

    BHP’s (ASX:BHP,NYSE:BHP,LSE:BHP) attempted takeover of Anglo American also stoked fears of even tighter global copper mine supply. These supply-side challenges continued to juice copper prices in Q2 2024, causing a jump of nearly 29 percent from US$4.04 per pound on April 1 to a then all-time high of US$5.20 by May 20, 2024.

    What was the highest price for copper ever?

    The price of copper reached its highest recorded price of US$5.72 per pound, or US$12,610 per metric ton, on July 8, 2025. The red metal’s price surged more than 13 percent from July 7 to its new all time high. Read on to found out how the copper price reached those heights.

    Why did the copper price hit an all-time high in 2025?

    After starting 2025 at US$3.99 per pound, copper prices were lifted in Q1 by increasing demand from China’s economic stimulus measures, renewable energy and artificial intelligence (AI) technologies and stockpiling brought on by fear of US President Trump’s tariff threats.

    At the time, Trump had said the US was considering placing tariffs of up to 25 percent on all copper imports in a bid to spark increased domestic production of the base metal.

    In late February, he signed an executive order instructing the US Commerce Department to investigate whether imported copper poses a national security risk under Section 232 of the Trade Expansion Act of 1962. The price of copper reached a new high price of US$5.24 per pound on March 26 as tariff tensions escalated.

    Trump’s tariff talk sparked yet another copper price rally to set its new record high price in early July when he announced he plans to impose a 50 percent tariff on all imports of the red metal.

    Looking at the bigger picture, copper’s rally in recent years has encouraged bullish sentiment on prices looking ahead. In the longer term, the fundamentals for copper are expected to get tighter as demand increases from sectors such as EVs and energy storage. A May 2024 report from the International Energy Forum (IEF) projects that as many as 194 new copper mines may need to come online by 2050 to support massive demand from the global energy transition.

    Looking over to renewable energy, according to the Copper Development Association, solar installations require about 5.5 MT of copper for every megawatt, while onshore wind turbines require 3.52 MT of copper and offshore wind turbines require 9.56 MT of copper.

    The rise of AI technology is also bolstering the demand outlook for copper. Commodities trader Trafigura has said AI-driven data centers could add one million MT to copper demand by 2030, reports Reuters.

    Where can investors look for copper opportunities?

    Copper market fundamentals suggest a return to a bull market cycle for the red metal in the medium-term. The copper supply/demand imbalance also presents an investment opportunity for those interested in copper-mining stocks.

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

    This post appeared first on investingnews.com

    This opinion piece was submitted to the Investing News Network (INN) by Darren Brady Nelson, who is an external contributor. INN believes it may be of interest to readers and has copy edited the material to ensure adherence to the company’s style guide; however, INN does not guarantee the accuracy or thoroughness of the information reported by external contributors. The opinions expressed by external contributors do not reflect the opinions of INN and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

    By Darren Brady Nelson

    As an economist, I, perhaps somewhat sadly, have many economist friends. One of them recently alerted me to a post on X that was even a shock to me in the toxic 2020s. That being: “Almost all political donations by Fed employees go to one party. The Fed is already politicized.”

    The post had a link to the data supporting this assertion, which was published at OpenSecrets. They are a “501(c)3” devoted to: “tracking money in US politics and its effect on elections and public policy.” Their theme is appropriately “Follow the Money,” as it is for this story.

    Political money contributions, since 2016, from those at the Fed, range between 92 to 93 percent for Democrats and 8 to 9 percent for Republicans. As Public Choice economics teaches, it is crucial to “Follow the Money” in politics. Austrian and Chicago schools of economics teach the same for gold.

    Gold pricing 101

    Gold pricing is often characterized as being driven by “fear and uncertainty,” at least in the short run, including geopolitical fears like war and economic uncertainties such as recession. It is also typically recognized to be an “inflation hedge,” in the long run anyway.

    Gold is an asset with a price determined in a 24/7/365 global auction, most often quoted per troy ounce, in the world’s reserve currency of US dollars. New supply plays an unusually small role compared to almost all other commodities, goods or services. Thus, highest bid wins.

    Perhaps none of these things about gold, and its price, are new nor surprising. But what might be, despite the end of the gold standard in 1971 and legalization of gold investment in 1974, is that gold is still a shadow currency to fiat ones, especially US dollar, in the ‘always run.’

    The annual gold price from 1960 to 2024 is displayed below, as sourced from the World Bank. Rises include: late 1970s; late 2000s; and mid 2020s. Slides include: early 1980s; late 1990s; and early 2010s. Overall growth was: Sum 555 percent; Ave 8.7 percent; Max 98 percent; Min 24 percent; and CAGR 6.8 percent.

    Gold yearly growth ($).

    Source: World Bank.

    Money supply 101

    Gold is the inflation hedge, precisely because it is shadow currency. Money supply is the inflation source, precisely because it is fiat currency. As Chicago economist Milton Friedman wrote in Money Mischief (1994): “In the modern world, inflation is a printing-press phenomenon.”

    There are multiple money supply measures, such as M0, M1, M2 and M3. M1 includes paper and coin currency held by the general public as well as liquid bank deposits (e.g. checking accounts). M3 includes M1, plus less liquid bank deposits (e.g. savings accounts) as well as “repos.”

    Austrian economist Robert Murphy details in Understanding Money Mechanics (2021) just how the Fed’s printing, Treasury bonds and bank loans create US money supply, through open market operations. Since 2008 and 2020, the Fed has expanded to buying and selling just about anything.

    Speaking on behalf of the Fed, and all major central banks, the Bank of England wrote in Money Creation in the Modern Economy (2014): “(B)ank lending creates deposits. At that moment, new money is created. (This is) ‘fountain pen money,’ created at the stroke of bankers’ pens(.)”

    Annual M1 and M3 money supply from 1960 to 2024 are displayed below, as sourced from the OECD. M3 starts to take off from the mid 1990s. Both blast off in the early 2020s, M1 in part due to redefinition. Combined growth was: Sum 533 percent; Ave 8.3 percent; Max 126 percent; Min 6.4 percent; and CAGR 7.4 percent.

    Money yearly growth ($).

    Source: OECD.

    Gold inflation 101

    Christian economist Gary North points out in Honest Money (2011) that businesses have three choices in the face of money inflation: A) profit deflation; B) price inflation; C) quality shrinkflation. Investors have a fourth: D) gold inflation. A, B, and C are all bad options. D is good.

    The chart below shows cumulative annual growth of gold versus M1 and M3. Gold performs and protects against both M1 and M3 from 1974 to 2019, even in 2001, but not against M1 from 2020 to 2024. In 2019, gold had a 150 percent lead on M1 and 92 percent on M3. By 2022, it shrunk to 110 percent and 80 percent.

    Cumulative yearly growth (percent).

    Sources: OECD and World Bank.

    A 2020 regression study found: “When the Federal Reserve increases money supply by 1%, gold prices increase by 0.94%.” A 2023 academic paper: “Confirms a long-term relationship between gold price and US M2.” Note that M1’s 2021 redefinition has now made it nearly identical to M1.

    Period yearly change (percent).

    Sources: OECD and World Bank.

    However, the authors of Austrian School for Investors (2015) wrote: “Gold does not correlate with the rate of inflation as such, but with the rate of change of the inflation rate. In order to buttress this hypothesis, we calculated the regression depicted in (the chart below).”

    Source: Austrian School for Investors: Austrian Investing between Inflation and Deflation.

    In conclusion, as per my Wokenomics 101 (2023) ghost blog, money inflation by: “increasing demand puts upward pressure on price and quantity and downward pressure on quality.” That puts upward pressure on: nominal CPI and GDP statistics; as well as real gold investment and price.

    Inflation doesn’t harm all. It helps some. They are the “Bootleggers and Baptists,” as Public Choice economist Bruce Yandle dubbed them in 1983. Bootleggers are crony capitalists, politicians and bureaucrats whose inflated revenue outpaces costs. Baptists are the “useful idiots.”

    Thus, “Follow the Money” back to the “inflationistas” of: Big Business; Big Government; and Big Banks. All gain supernormal profits from easy money: one, making more money; two, collecting more money; and three, creating more money. Also, “Follow the Money” when it comes to gold.

    And, sadly, there is one policy that is always bipartisan; print more money. But, gladly, gold will always win.

    About Darren Brady Nelson

    Darren Brady Nelson is chief economist with Fisher Liberty Gold and policy advisor to The Heartland Institute. He previously was economic advisor to Australian Senator Malcolm Roberts. He authored the Ten Principles of Regulation and Reform, and the CPI-X approach to budget cuts.

    This post appeared first on investingnews.com

    Statistics Canada released June’s consumer price index (CPI) data on Tuesday (July 15). The report showed that year-over-year inflation gained momentum during the month, rising to 1.9 percent from the 1.7 percent recorded in May.

    The increase was attributed in part to the 13.4 percent year-over-year decline in gas prices seen in June, as it was a smaller drop than May’s 15.5 percent decrease caused by the removal of the consumer carbon tax.

    Other factors contributing to the rise included a 2.7 percent increase in durable goods, with passenger vehicles posting the largest gains at 4.1 percent. Grocery prices also increased 2.8 percent, although they eased off from a 3.3 percent increase in May.

    While economists had predicted a larger 2 percent rise in CPI, the figures still make it unlikely that the Bank of Canada will cut its benchmark rate at its next meeting on July 30. Canada’s central bank has cut its interest rates seven times since June 2024, lowering it from 5 percent to 2.75 percent in March.

    South of the border, the US Bureau of Labor Statistics also released its June CPI data the same day, reporting year-over-year growth of 2.7 percent, sharply up from the 2.4 percent gain posted in May. On a monthly basis, CPI rose 0.3 percent, also higher than May’s 0.1 percent.

    Analysts have attributed the gain to an increase in prices resulting from US President Donald Trump’s tariff policy, as vendors restocked shelves with inventories purchased after tariffs were applied.

    Goods and services increased across the board, except for new and used vehicles, which declined by 0.3 percent and 0.7 percent on a monthly basis. Energy rose 0.9 percent, including a 1 percent increase in gasoline prices, a reversal from May’s energy and gas price decreases of 1 percent and 2.6 percent respectively.

    The data will likely play a role in what the US Federal Reserve decides during its next rate meeting on July 29 and 30. Economist consensus is that the central bank will continue to hold at the current 4.25 to 4.5 percent range.

    Markets and commodities react

    In Canada, equity markets were mostly positive this week. The S&P/TSX Composite Index (INDEXTSI:OSPTX) gained 1 percent to close at 27,314.01 on Friday (July 18) and set a new all-time high during the week. The S&P/TSX Venture Composite Index (INDEXTSI:JX) fared even better this week, gaining 2.53 percent to 797.75. However, the CSE Composite Index (CSE:CSECOMP) fell 2.6 percent to 126.84.

    As for US equity markets, the S&P 500 (INDEXSP:INX) gained 0.66 percent to close Friday at 6,296.78 and the Nasdaq 100 (INDEXNASDAQ:NDX) climbed 1.35 percent to 23,065.47, with both also setting new record highs during the week. On the other hand, the Dow Jones Industrial Average (INDEXDJX:.DJI) fell 0.1 percent to 44,342.20.

    In precious metals, the gold price rose 0.78 percent over the week to US$3,349.66 by Friday at 5 p.m. EDT. Meanwhile, the silver price continued to trade near 11-year highs, climbing 3.13 percent on the week to US$38.15 per ounce.

    In base metals, copper ended the week were it started out, but was still trading near all time highs at US$5.60 per pound. The S&P GSCI (INDEXSP:SPGSCI) posted a 1.26 percent gain to finish the week at 551.61.

    Top Canadian mining stocks this week

    How did mining stocks perform against this backdrop?

    Take a look at this week’s five best-performing Canadian mining stocks below.

    Stock data for this article was retrieved at 4 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.

    1. Altima Energy (TSXV:ARH)

    Weekly gain: 97.96 percent
    Market cap: C$43.99 million
    Share price: C$0.97

    Altima Energy is a light oil and natural gas exploration and development company with operations in Alberta, Canada.

    Its primary asset is the Richdale property in Central Alberta. The property consists of five producing light oil wells and sits on 5,920 acres of long-term reserves. The property hosts combined proved and probable reserves of just under 2 billion barrels of oil equivalent, with a pre-tax net present value of C$25.8 million.

    The company also owns two wells at its Twinning light oil site near Nisku, seven producing wells at its Red Earth property in Northern Alberta and two multi-zone wells at its Chambers Ferrier liquid gas production property.

    Shares in Altima started to gain after it released news on July 8 that it had completed a private placement for proceeds of up to C$5.5 million. Under the terms of the deal, the company will issue 20 million units at C$0.275 per unit, which each include one common share and one warrant allowing the holder to purchase a common share for C$0.40.

    The company said that part of the proceeds would be used to complete field upgrades at its Red Earth and Richdale properties.

    2. Kirkland Lake Discoveries (TSXV:KLDC)

    Weekly gain: 81.82 percent
    Market cap: C$11.26 million
    Share price: C$0.10

    Kirkland Lake Discoveries is a gold and copper exploration company focused on projects in its district-scale land package located in the Kirkland Lake area of Ontario, Canada.

    Its holdings span an area of approximately 38,000 hectares in the Abitibi Greenstone Belt that has been host to past-producing gold and copper mines. It is broadly divided into KL West and KL East, which contain the Goodfish-Kirana and Lucky Strike gold projects, respectively, among others.

    On April 29, the company announced it entered into a mining option agreement with Val-d’Or Mining (TSXV:VZZ) to acquire a 100 percent interest in the Winnie Lake and Amikougami properties, as well as mining claim purchase agreements with two vendors to acquire further claims around the Winnie Lake Pluton. The properties expand KL West’s southern portion.

    Following the agreement, the company conducted grab samples at the Winnie Lake property and reported the results on July 9. One grab sample collected near the historic Winnie Shaft zone yielded grades of 1.6 grams per metric ton (g/t) gold, 28.2 g/t silver, 5.7 percent copper, 5.3 percent zinc and 1.65 g/t tellurium.

    The company also discovered a quartz-veined intrusive outcrop 150 meters west of the shaft during field prospecting, with samples displaying characteristics of magmatic-hydrothermal copper-gold systems, including visible malachite and strong potassic alteration.

    Additionally, Kirkland Lake reported it has received full drill permits for Winnie Lake and plans to initiate activities at the site this summer, focusing on the newly defined zones.

    3. Happy Creek Minerals (TSXV:HPY)

    Weekly gain: 70 percent
    Market cap: C$10.33 million
    Share price: C$0.085

    Happy Creek Minerals is an exploration company focused on advancing a portfolio of assets in British Columbia, Canada.

    Its primary focus has been on its Fox tungsten property located in the South Caribou region of the province. It comprises 135.9 square kilometers of mineral tenure and hosts deposits containing tungsten, molybdenum, zinc, indium, gold and silver. In total, 21,125 meters of exploration drilling have been carried out at the site, primarily in shallow holes, for resource definition.

    Happy Creek’s share price began climbing Tuesday after the company announced a non-brokered private placement to raise gross proceeds of up to C$3.25 million in flow-through units at C$0.07 per share and non-flow-through units at C$0.05 per share.

    The following day, Happy Creek upsized the offering to C$3.75 million.

    The company plans to use the gross proceeds for drilling, exploration and development at Fox, as well as other exploration work in the Caribou.

    4. Camino Minerals (TSXV:COR)

    Weekly gain: 56.52 percent
    Market cap: C$13.5 million
    Share price: C$0.36

    Camino Minerals is a copper exploration and development company with a portfolio of projects in Chile and Peru.

    Earlier in 2025, the company shifted its focus to its newly acquired, construction-ready Puquois copper project in Chile.

    In October 2024, Camino entered a definitive agreement to create a 50/50 joint venture with Nittetsu Mining (TSE:1515) that would acquire Cuprum Resources, which owns the Puquios project. The partners completed the acquisition April 17 and said they would turn their attention to project financing.

    On March 17, Camino filed a prefeasibility study for the project. The study results demonstrate a post-tax net present value of US$118 million, with an internal rate of return of 23.4 percent and a payback period of 3.1 years at a fixed copper price of US$4.28. It also outlines all-in sustaining costs of US$2.00 per pound over a 14.2 year mine life.

    In addition to the economic details, the included mineral resource estimate shows a measured and indicated resource of 149,000 metric tons of copper from 32.16 million metric tons of ore grading 0.46 percent copper.

    Camino also owns the Los Chapitos project, which has been a long-time focus of the company. The project covers approximately 22,000 hectares near the coastal town of Chala, Peru, and hosts near-surface mineralization.

    Camino has been conducting exploration efforts at Los Chapitos throughout the first half of 2025. On Wednesday, it reported trench results from the newly identified Mirador zone, including 1.07 percent copper over 90 meters, with a four-meter section containing 3.05 percent copper.

    5. Solstice Gold (TSXV:SGC)

    Weekly gain: 56.25 percent
    Market cap: C$29.38 million
    Share price: C$0.125

    Solstice Gold is an exploration company focused on its flagship Strathy gold project in Ontario, which it acquired in June 2024.

    The project consists of 45 claims covering an area of 45 square kilometers in the Temagami Greenstone belt. Historical documents report six gold showings in the central portion of the project areas, with documented mineralization at the Leckie prospect.

    In its latest project update on July 2, Solstice announced it had wrapped up its spring drill program, which focused on four target areas. In total, the company completed 3,125 meters of drilling across 14 holes, and results are expected in July.

    The company also reported that it had entered into an agreement to acquire 17 additional claims, which would increase the project area by 50 percent. It added that targets identified from its IP program may extend along strike into these claims.

    FAQs for Canadian mining stocks

    What is the difference between the TSX and TSXV?

    The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

    How many mining companies are listed on the TSX and TSXV?

    As of February 2025, there were 1,572 companies listed on the TSXV, 905 of which were mining companies. Comparatively, the TSX was home to 1,859 companies, with 181 of those being mining companies.

    Together the TSX and TSXV host around 40 percent of the world’s public mining companies.

    How much does it cost to list on the TSXV?

    There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

    The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

    These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

    How do you trade on the TSXV?

    Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

    Article by Dean Belder; FAQs by Lauren Kelly.

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

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

    This post appeared first on investingnews.com

    President Donald Trump said Wednesday that Coca-Cola in the United States will begin to be made with cane sugar, but the company did not explicitly say that was the case when it was asked later about Trump’s claim.

    Trump said Wednesday afternoon on Truth Social that he had been speaking to Coca-Cola about using cane sugar in the sodas sold in the United States and that the company agreed to his idea.

    ‘This will be a very good move by them — You’ll see. It’s just better!’ Trump wrote in the post.

    But Coca-Cola did not commit to the change when NBC News asked it later about Trump’s post.

    ‘We appreciate President Trump’s enthusiasm for our iconic Coca-Cola brand,’ a company spokesperson said in a statement. ‘More details on new innovative offerings within our Coca-Cola product range will be shared soon.’

    Donald Trump drinks a Diet Coke during the ProAm of the LIV Golf Team Championship at Trump National Doral Golf Club, on Oct. 27, 2022, in Doral, Fla.Lynne Sladky / AP file

    It remains unclear whether Coca-Cola agreed to Trump’s proposal or whether the beloved soda will still be made with corn syrup.

    The Trump administration’s Make America Healthy Again initiative, named for the social movement aligned with Health Secretary Robert F. Kennedy Jr., has pushed food companies to alter their formulations to remove ingredients like artificial dyes.

    Coca-Cola produced for the U.S. market is typically sweetened with corn syrup, while the company uses cane sugar in some other countries, including Mexico and various European countries.

    Coca-Cola announced in 1984 it was going to “significantly increase” the amount of corn syrup it was using in its U.S. products, The New York Times reported at the time.

    Coca-Cola said it would use corn syrup to sweeten bottled and canned Coke, as well as caffeine-free Coke, but left itself “flexibility” to use other sweeteners, like sugar or high-fructose corn syrup, the Times reported.

    Kennedy has criticized how much sugar is consumed in the American diet and has said updated dietary guidelines released this summer will advise people to ‘eat whole food.’

    Trump has been known to enjoy Coca-Cola products. The Wall Street Journal reported that a Diet Coke button, which allows him to order the soda on demand, has joined him in the Oval Office for both of his terms.

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    The U.S. shipbuilding industry is looking for help. A South Korean company is answering the call.

    Hanwha Philly Shipyard CEO David Kim, nodding to the gargantuan vessels under construction just off the Delaware River, on Wednesday offered the kind of vision that has brought some optimism back to the U.S. shipbuilding community.

    “You take that level of experience, the technology that we have, the know-how, the process expertise, and so clearly, we believe we have a lot to bring to the Philly Shipyard, as well as to the U.S. maritime industrial base, in terms of modernization capacity,” he said on a walkthrough of the shipyard.

    Hanwha Philly Shipyard CEO David Kim.Obtained by NBC News

    Hanwha Group bought the Philly Shipyard in December for $100 million and plans to invest multiple times that amount in the yard, training over a thousand new workers and bringing in new high-tech equipment. The company hopes to build naval ships and become the first U.S. builder of specialized liquefied natural gas tankers.

    Shipbuilding in the United States has been all but dormant. China, South Korea, Japan and Europe all produce far more ships than the United States, with the few shipyards still operating in the country concentrating on military ships.

    Revitalizing shipbuilding has been one of the areas President Donald Trump has pointed to as part of a broader effort to bring manufacturing back to the United States — a move some see as shortsighted considering the costs associated with building the kind of gigantic modern ships that remain a core part of how goods and commodities move around the planet.

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    Senators are not thrilled with a top White House official’s comments that the government funding process should become more partisan, and fear that doing so could erode Congress’ power of the purse.

    Office of Management and Budget Director Russ Vought told reporters during a Christian Science Monitor Breakfast Thursday morning that he believed ‘the appropriations process has to be less bipartisan.’

    His sentiment came on the heels of Senate Republicans advancing President Donald Trump’s $9 billion clawback package, which would cancel congressionally approved funding for foreign aid and public broadcasting, just a few hours before.

    Unlike the hyper-partisan bills that have dominated the Senate’s recent agenda, including the rescissions package and the president’s ‘big, beautiful bill,’ the appropriations process is typically a bipartisan affair in the upper chamber.

    That is because, normally, most bills brought to the floor have to pass the Senate’s 60-vote threshold, and with the GOP’s narrow majority, Senate Democrats will need to pass any spending bills or government funding extensions to ward off a partial government shutdown.

    Senate Majority Leader Chuck Schumer, D-N.Y., who alluded to issues down the line with the appropriations process if Republicans advanced Trump’s resicssions package, took a harsh stance against Vought. 

    ‘Donald Trump should fire Russell Vought immediately, before he destroys our democracy and runs the country into the ground,’ Schumer said. 

    Members of the Senate Appropriations Committee also did not take kindly to Vought’s comments.

    ‘I think he disrespects it,’ Sen. Lisa Murkowski, R-Alaska, said. ‘I think he thinks that we are irrelevant, and I wish I had actually heard the speech, because, you know, again, everything in context.’

    ‘But you have to admit that when you look at the quotes that are highlighted in the story this morning, it is pretty dismissive of the appropriations process, pretty dismissive,’ she continued.

    Vought has no intention of slowing the rescissions train coming from the White House, and said that there would be more rescissions packages on the way.

    He noted another would ‘come soon,’ as lawmakers in the House close in on a vote to send the first clawback package to the president’s desk.

    ‘There is no voter in the country that went to the polls and said, ‘I’m voting for a bipartisan appropriations process,’’ Vought said. ‘That may be the view of something that appropriators want to maintain.’

    Both Murkowski and Senate Appropriations Chair Susan Collins, R-Maine, voted against the rescissions package, and warned of the cuts to public broadcasting, lack of transparency from the OMB and the possible effect it could have on legislating in the upper chamber.

    ‘I disagree with both those statements,’ Collins said of Vought’s push for a more partisan appropriations process. ‘Just as with the budget that the President submitted, we had to repeatedly ask him and the agencies to provide us with the detailed account information, which amounts to 1000s of pages that our appropriators and their staff meticulously review.’

    Fox News Digital reached out to the OMB for comment. 

    Vought’s comments came at roughly the same time as appropriators were holding a mark-up hearing of the military construction and veterans’ affairs and Commerce, Justice and Science spending bills.

    Sen. Patty Murray, the top Democrat on the Senate Appropriations Committee, said during the hearing that Senate Republicans coalescing behind the rescissions package would only make hammering out spending bills more difficult, and argued that ‘trust’ was at the core of the process.

    ‘That’s part of why bipartisan bills are so important,’ she said. ‘But everyone has to understand getting to the finish line always depends on our ability to work together in a bipartisan way, and it also depends on trust.’

    Other Republicans on the panel emphasized a similar point, that, without some kind of cooperation, advancing spending bills would become even more challenging.

    Sen. John Hoeven, R-N.D., said that finding ‘critical mass’ to move spending bills was important, and warned that people have to ‘quit saying it’s gotta just be my way or the highway,’ following threats Schumer’s threats last week that the appropriations process could suffer should the rescissions package pass. 

    ‘People better start recognizing that we’re all gonna have to work together and hopefully get these [appropriations] bills to the floor and see what we can move,’ he said. ‘But if somebody just sits up and says, ‘Oh, because there’s a rescission bill, then I’m not going to work on Appropriations,’ you can always find an excuse not to do something. Let’s figure out how we can work forward.’

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    The Trump administration reversed a Biden-era legal opinion from the Department of Justice on Thursday that permitted taxpayer dollars to be used for ancillary services associated with helping someone obtain an abortion, such as transportation costs. 

    The policy was particularly used in aiding unaccompanied minor migrants to get abortions, according to the Trump administration.

    In the wake of the Supreme Court’s decision to overturn Roe v. Wade in 2022, the Health and Human Services Department took the view that taxpayer dollars – even though prohibited by Congress from being used to pay for abortions directly under the Hyde Amendment – could be used to provide transportation services for patients seeking an abortion. The Justice Department’s Office of Legal Counsel (OLC), charged with interpreting the laws for the president and executive branch agencies, agreed at the time under the Biden administration.    

    However, that interpretation and opinion have been upended after Trump’s OLC issued a new one Thursday that bars taxpayer funds from going toward any ‘ancillary services’ that might help someone get an abortion. 

    The 2022 Biden-era OLC opinion formed the basis for HHS’s Office of Refugee Resettlement (ORR) to use federal funds to help unaccompanied minors obtain transportation and other services in support of getting an abortion, according to the July 11 opinion released Thursday.

    ‘Current regulations require ORR to ‘ensure that all unaccompanied children in ORR custody… be provided with… access to… family planning services,’ and recognize that ‘transportation across State lines and associated ancillary services’ may be ‘necessary to access’ such ‘family planning services,” the new opinion stated.

    ‘Where such transportation services are necessary for an individual to obtain an abortion, the associated costs constitute the kind of indirect expense that the post-1993 Hyde Amendment limits,’ the opinion continues. ‘Under current circumstances, interstate transportation expenses could dwarf the cost of the abortion procedure itself. It would thus be inconsistent with longstanding congressional policy – as reflected in the Hyde Amendment’s textual bar on ‘expend[itures] for any abortion’ – for HHS to fund such expenses merely because they do not go directly to the person or entity performing the abortion.’

    In 1993, Congress changed the statutory language of the Hyde Amendment, which resulted in years of disputes over the measure’s interpretation. 

    The new OLC opinion released Thursday argues that the 1993 change expanded the Hyde Amendment to include anything done in service of someone receiving an abortion, not just the abortion itself.

    Fox News Digital did not receive a response from the Justice Department prior to publication of this story.

    The move to strengthen the Hyde Amendment’s protections follows the president’s Executive Order 14182, instructing agencies to ‘end the forced use of Federal taxpayer dollars to fund or promote elective abortion.’

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    An environmental advocacy group accused of trying to manipulate judges organized a years-long, nationwide online forum with jurists to promote favorable info and litigation updates regarding climate issues – until the email-styled group chat was abruptly made private, Fox News Digital found.

    The Climate Judiciary Project (CJP) was founded in 2018 by a left-wing environmental nonprofit, the Environmental Law Institute (ELI), and pitches itself as a ‘first-of-its-kind effort’ that ‘provides judges with authoritative, objective, and trusted education on climate science, the impacts of climate change, and the ways climate science is arising in the law.’

    But critics, such as Sen. Ted Cruz, R-Texas, say CJP is funded by China and left-wing activists for one purpose.

    ‘They fund CJP to train judges,’ Cruz said during a June hearing. ‘So, quote, unquote, train in climate science and make them agreeable to creative climate litigation tactics. Then, these left-wing bankrollers turn around and fund the climate litigators who will bring these bogus cases before those same judges that they’ve just indoctrinated.

    ‘This is like paying the players to play and paying the umpire to call the shots the way you want.’

    The group, however, says it provides ‘neutral, objective information to the judiciary about the science of climate change as it is understood by the expert scientific community and relevant to current and future litigation.’

    One of the efforts CJP launched included rolling out an email-styled listserv by which leaders from the Climate Judiciary Project could message directly with judges, documents obtained by Fox News Digital show. The listserv was launched in September 2022 and maintained until May 2024, according to the documents. A portal website page for the forum was previously publicly available, with an archived link saved in July 2024 showing there were 29 members in the group. 

    ‘Judicial Leaders in Climate Science,’ the archived website link reviewed by Fox Digital reads, accompanied by a short description that the group was a ‘Forum for Judicial Leaders in Climate Science to share resources.’

    A link to the forum now leads to an error warning, stating, ‘Sorry, but that group does not exist.’ 

    Fox News Digital obtained the archived chat history of the forum, which detailed numerous messages between at least five judges and CJP employees trading links on climate studies, congratulating one another on hosting recent environmental events, sharing updates on recent climate cases that were remanded to state courts, and encouraging each other to participate in other CJP meet-ups. 

    One message posted by Delaware Judge Travis Laster, vice chancellor of the Delaware Court of Chancery, features a YouTube video of a 2022 climate presentation delivered by a Delaware official and a Columbia University professor that focused on the onslaught of climate lawsuits since the mid-2000s. It also included claims that such lawsuits could one day bankrupt the fuel industry. 

    Laster shared the video in the group with a disclaimer to others: ‘Please do not forward or use without checking with me’ as the video is ‘unlisted’ on YouTube and not publicly available. 

    A handful of other judges responded to Laster’s video and message, praising it as ‘great work.’

    ‘This is great work/great stuff, Travis; congrats on a job well-done, & thank you so much for sharing this!,’ Indiana Court of Appeals Judge Stephen Scheele responded, according to documents obtained by Fox News Digital. 

    Another judge in a Nebraska county court added that he had not watched the video yet but said the state court administrator’s office was interested in a similar program focused on ‘litigation and climate change.’ The Nebraska judge said he ‘may need to lean on all of you for guidance and direction.’

    The judges’ correspondence on the forum included their typical email signatures, showcasing their job titles as ‘judge’ as well as which court they preside over. 

    The climate activists also posted messages directed to the judges on the listserv, Fox News Digital found, including a science and policy analyst at the Environmental Law Institute posting a lengthy message on Nov. 15, 2023. The message encouraged judges and climate activists alike to review the government’s publication of the Fifth National Climate Assessment that year, which the environmental crusader said contained ‘good news and bad news.’

    ‘The bad news is that the impacts of climate change are being felt throughout all regions of the United States, and these impacts are expected to worsen with every fraction of a degree of additional warming. The report finds that climate change will continue to affect our nation’s health, food security, water supply, and economy,’ the message read. 

    ‘The good news is that the report also notes that it isn’t too late for us to act,’ the message continued, before encouraging the 28 other members of the group to go over CJP’s climate curricula, such as ‘Climate Science 101’ and ‘Climate Litigation 101,’ and send over any feedback. 

    ‘As you know, our Climate Judiciary Project exists to be as beneficial to judges as possible, so any insights you might have for us would be very helpful!’ the message added when asking members to review the curricula. 

    In another message, CJP’s manager, Jared Mummert, sent a message to the group in May 2024 praising the judges for their mentorship of a second group of ‘Judicial Leaders in Climate Science’ – which included 14 judges from 12 states and Puerto Rico – as part of a partnership between CJP and the National Judicial College. The National Judicial College provides judicial training for judges across the country from its Reno, Nevada, campus. 

    ‘We want to give a special ‘thank you’ to those who are serving as mentors to this second cohort!’ the message read. It added that CJP was ramping up its number of ‘engagement opportunities’ to ‘every six months for both cohorts of judges to come together to share updates and connect with one another.’

    Fox News Digital reached out to five of the judges on the listserv for comment, four of whom did not respond. 

    Scheele’s office told Fox News Digital on Thursday that he first joined the 2022 National Judicial Conference on Climate Science, more than two years before he was appointed to the Court of Appeals of Indiana, after another delegate was unable to attend. 

    ‘At the last minute, when another appointed delegate was unexpectedly unable to attend, Judge Scheele was asked by Indiana’s state court administration to fill in as Indiana’s representative, and he accepted the invitation. As is normal in conferences attended by our judges, this conference addressed emerging, hot button issues that might come before the courts,’ Scheele’s office said. 

    It added: ‘Judge Scheele does not recall any substantive communication on the ‘listserv’ mentioned. He, like all of our Court of Appeals of Indiana judges, is dedicated to the unbiased, apolitical administration of justice in the State. He, like all of our judges, educates himself on emergent topics in the law and applies his legal training to evaluate the legal issues before him.’

    CJP, for its part, said the now-defunct email list was created in September 2022 to help members of its Judicial Leaders in Climate Science program communicate and network with one another for the duration of the program.

    The one-year program, established by CJP in coordination with the National Judicial College, ‘trains state court judges on judicial leadership skills integrated with consensus climate science and how it is arising in the law,’ the group told Fox News Digital.

    Judges quietly working behind the scenes with climate and environmental activists have drawn criticism from conservative lawmakers in recent years as climate-focused suits increased, including those who have accused CJP of manipulating the justice system.

    Cruz, for example, has been at the forefront of condemning CJP for joining forces with the National Judicial College. Cruz argued in a 2024 opinion piece that he is ‘concerned that this collaboration means court staff are helping far-left climate activists lobby and direct judges behind closed doors.’ 

    Cruz again railed against CJP during a Senate subcommittee hearing in June, called ‘Enter the Dragon – China and the Left’s Lawfare Against American Energy Dominance,’ where the Texas Republican argued there is a ‘systematic campaign’ launched by the Chinese Communist Party and American left-wing activists to weaponize the court systems to ‘undermine American energy dominance.’ CJP, Cruz said, is a pivotal player in the ‘lawfare’ as it works to secure ‘judicial capture.’ 

    Cruz said CJP’s claims of neutrality are bluster, and the group instead allegedly promotes ‘ex parte indoctrination, pressuring judges to set aside the rule of law, and rule instead according to a predetermined political narrative.’

    Judges have previously landed in hot water over climate-related issues in group forums, including in 2019, when a federal judge hit ‘reply all’ to an email chain with 45 other judges and court staff regarding an invitation to a climate seminar for judges hosted by the Environmental Law Institute. The judge was subsequently chastised by colleagues for sharing ‘this nonsense’ and suggested it was an ethics violation, while others defended that flagging the event to others was not unethical. 

    Fox News Digital spoke with Heritage Foundation senior legal fellow Zack Smith, who explained there has been an overarching increase in courts promoting trainings for judges on issues they would eventually be asked to preside over impartially, pointing to the Administrative Office of the U.S. Courts’ DEI trainings for judges during the Biden era. The office works as the administrative agency for the U.S. court system, handling issues from finances to tech support. 

    ‘There’s a problem right now with many courts putting forward, seeming to take sides on issues they will be asked to address through the trainings that they’re putting forward. And this was a particular problem with the DEI trainings that different federal district courts were putting on, that the Administrative Office of U.S. courts were sponsoring. It appeared that the judiciary itself was encouraging violations of the Constitution, violations of federal law, and most problematically was taking sides in issues they would eventually be asked to sit and preside over impartially,’ he said. 

    Justice Department officials did not respond to Fox News Digital’s requests for comment on the CJP program in question, or other efforts to educate judges more directly on climate issues. 

    Still, news of the program’s outreach comes as the U.S. has seen a sharp uptick in climate-related lawsuits in recent years, including cases targeting oil majors Shell, BP and ExxonMobil for allegedly engaging in ‘deceptive’ marketing practices and downplaying the risks of climate change, as well as lawsuits bought against state governments and U.S. agencies, including the Interior Department, for failing to adequately address risks from pollution or adequately protect against the harm caused by climate change, according to plaintiffs who filed the suits.

    CJP’s educational events are done ‘in partnership with leading national judicial education institutions and state judicial authorities, in accordance with their accepted standards,’ a spokesperson for the group said in an emailed statement. ‘Its curriculum is fact-based and science-first, grounded in consensus reports and developed with a robust peer review process that meets the highest scholarly standards.’

    ‘CJP’s work is no different than the work of other continuing judicial education organizations that address important complex topics, including medicine, tech and neuroscience,’ this person added.

    The number of climate-related lawsuits in the U.S. has increased significantly in recent years, including during the last two years of the Biden administration. To some extent, the educational efforts led by CJP appear to have been enacted in earnest to address real questions or concerns judges might have in presiding over these cases for the first time – many of which seek tens of millions of dollars in damages.

    The Supreme Court agreed earlier this month to grant a request from ExxonMobil and Chevron to consider whether to transfer two Louisiana lawsuits from state to federal court. 

    While the move itself is not immediately significant, it will be closely watched by oil and gas majors, as they look to navigate the complex landscape of environmental lawsuits, including lawsuits filed by state and local governments. Oil majors typically prefer to have their cases heard by federal courts, which are seen as more sympathetic to their interests. 

    Since Trump’s re-election in 2024, the cases appeared to have died down, at least to an extent. U.S. appeals courts have declined to take up many challenges filed on behalf of plaintiffs in several states who have sued claiming government inaction and failure to act to protect against known harms from fossil fuel extraction and production in the U.S.

    CJP’s program is run by ELI in partnership with the Federal Judicial Center, the latter of which bills itself as the ‘research and education center’ for judges across the country.

    Their work includes partnerships with myriad outside groups beyond the CJP aimed at informing and educating judges on a range of issues, including neuroscience and bioscience, constitutional law, and bankruptcy, among other things. 

    According to their website, the effort is important to help judges understand relevant case law and ethics, sentencing guidelines, and other types of issue-specific programs they might be encountering for the first time. 

    Fox News Digital has previously reported on CJP’s cozy relationship with judges, including when the group’s president, Jordan Diamond, detailed in a Wall Street Journal letter to the editor in September that the group ‘doesn’t participate in litigation, support or coordinate with any parties in litigation, or advise judges on how they should rule in any case.’

    A subsequent Fox News Digital review published in December found that several CJP expert lawyers and judges continued to have close ties to the curriculum and are deeply involved in climate litigation, including tapping insight from university professors who have also filed several climate-related amicus briefs. 

    ‘CJP doesn’t participate in litigation, support or coordinate with any parties in litigation, or advise judges on how they should rule in any case,’ an ELI spokesperson defended in a comment to Fox News Digital in December. ‘Our courses provide judges with access to evidence-based information about climate science and trends in the law.’

    Fox News Digital’s Andrew Mark Miller contributed to this piece. 

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    The White House dismissed comments that the Trump administration’s efforts to yank already approved federal funds for foreign aid and public broadcasting pose a public safety threat. 

    The rescissions package the Senate approved early Thursday pulls more than $1 billion from the Corporation for Public Broadcasting (CPB) that provides federal funding for NPR and PBS.

    ‘These are not honest news organizations,’ Leavitt told reporters Thursday. ‘These are partisan, left-wing outlets that are funded by the taxpayers. And this administration does not believe it’s a good use of the taxpayers’ time and money.’

    PBS and NPR could not be immediately reached for comment by Fox News Digital. 

    Additionally, the rescissions package revokes nearly $8 billion in already approved funding for the U.S. Agency for International Development (USAID), which the Trump administration dismantled amid concerns the formerly independent organization did not advance U.S. interests. The organization is not part of the State Department. 

    The Senate narrowly approved the rescission measure, 51-48, which would revoke funding the Congress previously approved. Republican Sens. Susan Collins of Maine and Lisa Murkowski of Alaska voted alongside Democrats to oppose the package. 

    ‘Look, $9 billion worth of crap that was in our federal funding is now being rescinded,’ Leavitt said. ‘This is a good thing for the American people and the American taxpayer.’ 

    Republican lawmakers like Senate Majority Leader John Thune, R-S.D., have touted the measure as a step toward ‘fiscal sanity’ as the Trump administration seeks to weed out waste, fraud and abuse. 

    ‘I appreciate all the work the administration has done in identifying wasteful spending,’ Thune said in a speech ahead of the vote. ‘And now it’s time for the Senate to do its part to cut some of that waste out of the budget. It’s a small but important step toward fiscal sanity that we all should be able to agree is long overdue.’

    But Democrats claim that the cuts to foreign aid benefit Russia and China, and that the rescission package jeopardizes national security. Likewise, Democrats are concerned that further rescissions could spread to areas beyond foreign aid and public broadcasting. 

    ‘If Republicans slash more American aid, it will create a dangerous vacuum that the Chinese Communist Party will continue to eagerly fill,’ Senate Minority Leader Chuck Schumer, D-N.Y., said Tuesday on the Senate floor.

    ‘They’re letting Donald Trump decide for himself which programs to defund, and that puts everything at risk – healthcare, education, food assistance, public health,’ Schumer said. ‘Everything – everything – becomes at risk. That is what happens if a package like this is allowed to become law.’ 

    Fox News’ Alex Miller contributed to this report. 

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