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Speaker Mike Johnson, R-La., is delaying a key vote on legislation aimed at advancing President Donald Trump’s agenda in the face of a likely rebellion on Wednesday evening.

It comes as fiscal hawks in the lower chamber have raised alarms at the Senate’s version of the plan, which guarantees far fewer spending cuts than the House’s initial offering.

Johnson told reporters he would aim to hold the vote Thursday, the last scheduled day in session for House lawmakers before a two-week recess. He added, however, that lawmakers could be kept in session next week if needed to pass the legislation.

‘I don’t think we’ll have a vote on this tonight, but probably in the morning,’ the speaker said. ‘We want everybody to have a high degree of comfort about what is happening here, and we have a small subset of members who weren’t totally satisfied with the product as it stands. So we’re going to we’re going to talk about maybe going to conference with the Senate or add an amendment, but we’re going to make that decision.’

He also said there were multiple ways the House could move forward and Republicans would look at each one. Johnson said, ‘Everything is moving along just fine. We have a little bit of room here to work, and we’re going to use that.’

The House floor was paralyzed for over an hour during an earlier unrelated vote as Johnson met with Republican holdouts behind closed doors.

Two sources in the room said the holdouts did not speak with Trump, though it’s not clear if he called people individually.

Outside that room, in the cavernous House chamber, lawmakers began filtering out or impatiently pacing as time went by with little information.

Democrats, meanwhile, began calling for Republican leaders to close the lingering vote.

Tensions were high for those GOP lawmakers who remained on the House floor, Fox News Digital was told – and much of that frustration is aimed at Johnson.

‘I think he’s quickly losing faith from the rest of us. I mean, he kept the entire conference out on the floor for 80 minutes while you play grab-a– with these people,’ one House Republican fumed. ‘And all day it was like, ‘Oh, we’re going to get this done.”

That House Republican said, ‘All the chatter we were hearing was [holdouts were] down to single digits. But 17, 20 people were in that room. So clearly there was a much bigger problem than they were letting on all day.’

The gap between the House and Senate versions is significant; the House version that passed in late February calls for at least $1.5 trillion in spending cuts, while the Senate’s plan mandates at least $4 billion.

Some conservatives are also wary of congressional leaders looking to use the current policy baseline to factor the total amount of dollars the bill will add to the federal deficit. The current policy baseline allows lawmakers to essentially zero out the cost of extending Trump’s 2017 Tax Cuts and Jobs Act (TCJA) because they are already in effect.

‘We’ve got to have something more substantive out of the Senate. If you were going to sell your house, and I offered you a third of the price, you would laugh,’ Rep. Andy Ogles, R-Tenn., one of the earliest holdouts, told reporters on Wednesday.

Trump has directed Republicans to work on ‘one big, beautiful bill’ to advance his agenda on border security, defense, energy and taxes.

Such a measure is largely only possible via the budget reconciliation process. Traditionally used when one party controls all three branches of government, reconciliation lowers the Senate’s threshold for passage of certain fiscal measures from 60 votes to 51. As a result, it has been used to pass broad policy changes in one or two massive pieces of legislation.

The first step traditionally involves both chambers of Congress passing an identical ‘framework’ with instructions for relevant committees to hash out policy priorities in line with the spending levels in the initial legislation.

The House passed its own version of the reconciliation framework earlier this year, while the Senate passed an amended version last week. House GOP leaders now believe that voting on the Senate’s plan will allow Republicans to enter the next step of crafting policy.

‘Why does President Trump call it one big, beautiful bill? Because it does a lot of critically important things, all in one bill, that help get this country back on a strong footing. And what else it does is it produces incredibly needed savings,’ House Majority Leader Steve Scalise, R-La., said during debate on the bill.

The legislation as laid out would add more money for border security, including Immigration and Customs Enforcement (ICE), as well as some new funding for defense. 

Republicans are also looking to repeal significant portions of former President Joe Biden’s green energy policies, and institute new Trump policies like eliminating taxes on tipped and overtime wages.

But House conservatives had demanded added assurances from the Senate to show they are serious about cutting spending.

The House and Senate must pass identical versions of the final bill before it can get to Trump’s desk to be signed into law.

They must do so before the end of this year, when Trump’s TCJA tax cuts expire – potentially raising taxes on millions of Americans.

Trump himself worked to persuade holdouts both in a smaller-scale White House meeting on Tuesday and in public remarks at the National Republican Congressional Committee.

He also fired off multiple Truth Social posts pushing House Republicans to support the measure, even as conservatives argued it would not go far enough in fulfilling his own agenda.

‘Republicans, it is more important now, than ever, that we pass THE ONE, BIG, BEAUTIFUL BILL. The USA will Soar like never before!!!’ one of the posts read.

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The House of Representatives passed a bill Wednesday to limit federal district judges’ ability to affect Trump administration policies on a national scale.

The No Rogue Rulings Act, led by Rep. Darrell Issa, R-Calif., passed the House and limits district courts’ power to issue U.S.-wide injunctions, instead forcing them to focus their scope on the parties directly affected in most cases.

All but one Republican lawmaker voted for the bill, which passed 219 to 213. No Democrats voted in favor.

The Trump administration has faced more than 15 nationwide injunctions since the Republican commander-in-chief took office, targeting a wide range of President Donald Trump’s policies, from birthright citizenship reform to anti-diversity, equity and inclusion (DEI) efforts.

Issa himself was confident the bill would pass, telling Fox News Digital on Tuesday morning, ‘We’ve got the votes.’

He was less certain of the bill getting Democratic support, though he noted former Biden administration solicitor general Elizabeth Prelogar made her own complaints about district judges’ powers during the previous White House term.

‘We’re hoping some people look at it on its merits rather than its politics,’ Issa said.

Rep. Derek Schmidt, R-Kan., who has an amendment on the bill aimed at limiting plaintiffs’ ability to ‘judge shop’ cases to favorable districts, told Fox News Digital before the vote, ‘A lot of things get called commonsense around here, but this one genuinely is.’

‘The basic policy of trying to rein in the overuse of nationwide injunctions was supported by Democrats before. It’s supported by Republicans now, and I’m hoping [this vote will] be supported by both,’ he said.

Rep. Lance Gooden, R-Texas, who, like Schmidt and Issa, is a House Judiciary Committee member, told Fox News Digital after the bill’s passage, ‘Many Democrat-appointed lower court judges have conducted themselves like activist liberal lawyers in robes while attempting to stop President Trump’s nationwide reforms. The No Rogue Rulings Act limits this unchecked power.’

Another GOP lawmaker, Rep. Randy Feenstra, R-Iowa, told Fox News Digital, ‘More than 77 million Americans voted for [Trump’s] pro-American policies and want to see them implemented quickly. There is no reason that activist judges whose authority does not extend nationally should be allowed to completely stop [his] agenda.’

Republicans’ unity on the issue comes despite some early divisions over how to hit back at what they have called ‘rogue’ and ‘activist’ judges.

Rep. Marlin Stutzman, R-Ind., who supported impeachment and Issa’s bill, told Fox News Digital, ‘The judicial vendetta against President Trump’s agenda needs to be checked. Nationwide injunctions by activists judges have stood in the way of the American people’s will and in come cases their safety, since the President was sworn into office.’

Stutzman said Issa’s bill ‘will stop individual judge’s political beliefs from preventing the wants and needs of our citizens from being implemented.’

A group of conservatives had pushed to impeach specific judges who have blocked Trump’s agenda, but House GOP leaders quickly quashed the effort in favor of what they see as a more effective route to take on the issue.

Despite its success in the House, however, the legislation does face uncertain odds in the Senate, where it needs at least several Democrats to hit the chamber’s 60-vote threshold.

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President Donald Trump told reporters that if Iran does not give up its nuclear weapons program, military action led by Israel is a real possibility, adding he has a deadline in mind for when the two countries must come to an agreement.

The U.S. and Iran are expected to hold negotiations Saturday in Oman as the Trump administration continues to try to rein in the country’s nuclear program, threatening ‘great danger’ if the two sides fail to come to an agreement. 

Trump told reporters from the Oval Office Wednesday he did have a deadline in mind for when the talks must culminate in an agreed-upon solution, but the president did not go into details about the nature of the timeline.

‘We have a little time, but we don’t have much time, because we’re not going to let them have a nuclear weapon. We can’t let them have a nuclear weapon.’ Trump said when pressed on details about his potential timeline. ‘I’m not asking for much. I just — I don’t — they can’t have a nuclear weapon.’

When asked about the potential for military action if Iran does not make a deal on their nuclear weapons, Trump said ‘Absolutely.’ 

‘If it requires military, we’re going to have military,’ the president told reporters. ‘Israel will obviously be very much involved in that. They’ll be the leader of that. But nobody leads us. We do what we want to do.’

Israeli Prime Minister Benjamin Netanyahu has expressed support for Iran’s complete denuclearization. During a visit to the White House, he expressed support for a deal similar to the one Libya sealed with the international community in 2003. The country gave up its entire nuclear arsenal.

‘Whatever happens, we have to make sure that Iran does not have nuclear weapons,’ Netanyahu said during the meeting.

The talks with Iran scheduled for Saturday in Oman have been characterized as ‘direct’ talks by Trump, but Iran’s foreign leaders have disputed that assertion, describing the talks as ‘indirect.’ Iran’s leaders have said if the talks go well Saturday, they would be open to further direct negotiations with the U.S. 

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Russian-American ballerina Ksenia Karelina, who has been wrongfully detained in Russia for more than a year, is on her way back to the United States, Secretary of State Marco Rubio confirmed early Thursday.

Moscow released Karelina in exchange for German-Russian citizen Arthur Petrov, who was arrested in 2023 in Cyprus at the request of the U.S. on charges of exporting sensitive microelectronics, the Wall Street Journal reported.

‘American Ksenia Karelina is on a plane back home to the United States. She was wrongfully detained by Russia for over a year and President Trump secured her release. @POTUS will continue to work for the release of ALL Americans,’ Rubio wrote on X.

Karelina was sentenced to 12 years in a Russian penal colony after pleading guilty to treason for donating $51.80 to a Ukrainian charity in early 2024.

She was initially detained for ‘petty hooliganism’ while visiting family in Russia in February 2024, but the charge was later upgraded to treason after accusations that she was acting as an American spy.

 

Russian authorities claimed that Karelina, who lived in Los Angeles, raised money for the Ukrainian army and took part in ‘public actions’ that supported Ukraine while in the U.S. 

Her boyfriend, boxer Chis Van Deerden, told Fox News Digital last year that she was ‘proud to be Russian, and she doesn’t watch the news. She doesn’t intervene with anything about the war.’

She was left out of a massive August 2024 prisoner swap that resulted in the release of Wall Street Journal reporter Evan Gershkovich, Paul Whelan and Alsu Kurmasheva.

Details surrounding Karelina’s arrival on U.S. soil were not immediately released.

She is the latest American prisoner detained in another country to be freed under President Donald Trump’s administration. In February, Trump brought American history teacher Marc Fogel, who had been detained in Russia since 2021, back to the U.S.

This is a breaking news story. Check back for updates.

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The Department of Government Efficiency (DOGE) account on X shared eyebrow-raising findings from a survey of unemployment insurance claims.

The ‘initial survey of Unemployment Insurance claims since 2020’ found that thousands of people with future birthdates claimed benefits.

The survey also indicated that thousands of supposedly very young and very old people had claimed benefits.

The DOGE post states that the survey found, ‘24.5k people over 115 years old claimed $59M in benefits,’ ’28k people between 1 and 5 years old claimed $254M in benefits,’ and ‘9.7k people with birth dates over 15 years in the future claimed $69M in benefits.’

‘In one case, someone with a birthday in 2154 claimed $41k,’ the post also notes.

Fox News Digital reached out to the Department of Labor for comment early on Thursday morning, but did not receive a response by the time of publication.

‘Your tax dollars were going to pay fraudulent unemployment claims for fake people born in the future! This is so crazy that I had to read it several times before it sank in,’ Elon Musk tweeted.

Musk is spearheading the DOGE effort to uncover waste, fraud, and abuse in the federal government.

‘The oldest living American is 114 years old, so it is safe to say that anyone 115 or older is collecting ‘unemployment’ due to being dead. There was no sanity check for impossibly young or impossibly old people for unemployment insurance,’ he noted in another post.

Republican Sen. Mike Lee of Utah replied to Musk, writing, ‘Reckless incompetence.’

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The first thing I read each morning for the last four years was the top-secret President’s Daily Brief – a summary of the most sensitive intelligence and analysis on global issues. From the president on down to cabinet members and other senior officials, we relied on that summary to warn us about China’s aggressive cyber operations, terrorist plots, Iran’s malicious activities, and other geopolitical risks. Invariably, these insights were derived mostly from intelligence collected by one entity: the National Security Agency. Why? Because in a world defined by digital communications and technology, the NSA is America’s most effective intelligence service. 

That’s why the abrupt firings a few days ago of NSA Director Gen. Timothy Haugh and Deputy Director Wendy Noble – two highly experienced and apolitical leaders – at a time when the U.S. is facing unprecedented cyberattacks from China and others is a gift to our adversaries. As President Donald Trump considers replacements for these vital roles, he and his national security team would be well-served to prioritize competence and leadership over politics. Here’s why.  

First, the NSA director and deputy director roles are unique in the U.S. government. Unlike the heads of other departments and agencies, who are primarily charged with overseeing policy, interfacing with external stakeholders and managing the workforce – all important tasks – they don’t need to be substantive experts to lead the agency.  

Not so at the NSA. By virtue of the highly technical nature of cyber operations and signals intelligence activities – intercepting the communications of our adversaries – it’s imperative that NSA leaders understand both the technical details and the strategic implications of the complex operations under their command.  

They need to know how to build and deploy software platforms and code to launch cyber operations. They need to understand the cryptologic issues and programs that enable intelligence collection and harden U.S. defenses against cyberattacks. They also need to understand the immense power of the capabilities under their control.  

The horrific leaks by Edward Snowden illustrated the geopolitical consequences associated with expansive NSA operations even when you have competent professionals leading the agency. It’s no job for amateurs. This is precisely why presidents since NSA’s inception in 1952 have always selected leaders with deep technical expertise to run this highly sophisticated agency. Just as we need qualified doctors overseeing the emergency room of a hospital, we need competent, qualified leaders at the NSA.  

Second, the decapitation of NSA leadership came at a time when China is undertaking increasingly aggressive cyber operations against the United States, as evidenced by the recent Salt Typhoon cyberattacks against US telecommunications networks.  

As Director of National Intelligence Tulsi Gabbard stated last month, ‘Beijing is advancing its cyber capabilities for sophisticated operations aimed at stealing sensitive U.S. government and private sector information, and pre-positioning additional asymmetric attack options that may be deployed in a conflict.’ These are not abstract threats.  

Turmoil at the NSA – the agency principally responsible for detecting and countering Chinese cyber espionage – could not have come at a worse time. The unprecedented firings, apparently without cause, will have a chilling effect on the workforce and morale at the agency and signal that politics is more important than apolitical, objective analysis and production that has always defined the intelligence profession.  

The impacts will be further amplified if other senior NSA officials retire or leave for more lucrative positions in industry to avoid becoming the next victim of baseless political attacks. The ultimate beneficiaries of chaos at America’s most consequential spy agency will be America’s adversaries, who will look to exploit the crisis.  

The Trump administration has an opportunity to minimize the damage caused by these firings by selecting professionals with the competence and experience to lead NSA moving forward. This isn’t about politics, or at least it shouldn’t be.  

All Americans should care about having the best and brightest leading the NSA at a time when we’re facing rising threats at home and abroad – from China and Iran to ISIS and drug cartels. Choosing otherwise is a dangerous proposition that benefits only our adversaries.  

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1911 Gold Corporation (‘ 1911 Gold ‘ or the ‘ Company ‘) (TSXV: AUMB; OTCQB: AUMBF) is pleased to announce that the Company has completed the re-commissioning of the True North mine hoist system in the A Shaft and is now focused on completing all necessary electrical and mechanical work down to Level 16 of the underground mine. Several levels within the True North Mine are now accessible for rehabilitation, including Level 16 at a depth of 695 m below surface, and will be used for our underground drilling to reach key targets identified by the exploration team, including following the SAM Southeast and West targets to depth.

Highlights:

  • On March 19, 2025 , the Company received approval from the Mines Safety Unit for Workplace Safety and Health to commence hoist operations at the True North mine.
  • On March 23, 2025 , a maintenance crew completed the A Shaft inspection from surface down to Level 16 ( 695 m ).
  • Level 16 is a key level for the next phase of underground diamond drilling, as it requires minimal investment to provide the best access to multiple underground exploration targets.
  • On March 25 , 2025, Seok Joon Kim, P. Eng., joined the Company to work closely with Éric Vinet on the Company’s redevelopment strategy.
  • On April 2, 2025 , a Hancon Mining Inc. team completed the evaluation of the underground workings on Level 16, identifying areas that required rehabilitation and ventilation improvement to allow underground drilling to commence.
  • An unmanned cage has now reached Level 26 ( 1,145 m ), indicating that the deepest level of the shaft is dry and has no water. This will significantly reduce the anticipated dewatering time and cost of the mine at depth.
  • Overall, conditions in the underground mine were better than anticipated, with communications and electrical equipment quickly brought online in central areas and work well underway to extend this to new target areas.
  • The Company has been   approved for a $286,000 grant from the Manitoba Mineral Development Fund (‘MMDF’) to support the 2025 drill program.

Over the last several months, the Company has worked closely with key contractors to re-commission the hoist system for the A Shaft, providing access to the True North underground mine. This included full inspection and testing of all mechanical, electrical, and shaft infrastructure to ensure safe and effective operation of the hoist. Tests completed included stress testing of the hoist cables, free fall (drop) testing of the conveyances with full anticipated loads, and testing of the software for control systems. Approval from the Mine Safety Administration was received in mid-March, and inspection and repairs to the A Shaft commenced on March 20, 2025 . On March 23, 2025 , the maintenance team gained access to Level 16 and completed a thorough inspection of the electrical connections and communications system.

On April 3, 2025 , a thorough inspection of Level 16 and Level 3 ( 122 m ) (used for the San Antonio West target) was completed to identify rehabilitation work that will be required. Based on this inspection, the Company plans to complete the necessary rehabilitation by late May, including re-aligning the rail tracking, re-establishing electrical and ventilation to key parts of the drift, and reinforcing areas where drill pads are required.

The lack of water on Level 26 ( 1,145 m ), the deepest level of A Shaft, is a positive development and will allow ready access to a significant portion of the current resource. This also expedites the Company’s ability to target new resource expansion areas and commence redevelopment of the deeper portions of the mine.

Previously, on January 15, 2025 , the Company also opened and inspected the Hinge and Cohiba access declines. These declines also provide access to the 007, L-13 and L-10 deposits, key resource expansion areas.

‘This achievement is a critical step forward for 1911 Gold in pursuit of our restart strategy.’ Shaun Heinrichs , President and CEO, stated, ‘With access to Levels 3, 8 ( 340 m ), and 16, we will be able to aggressively pursue our resource growth strategy with an efficient and productive drill program from the underground. We are now closer to some of the best targets in the underground mine and have easy access to both new targets we identified as well as infill and extensions to the 43-101 resource released on November 20, 2024 . This is the next phase for 1911 Gold, and our team is excited about the opportunity this presents.’

On March 25, 2025 , Seok Joon Kim P.Eng ., an experienced underground mine engineer, joined the Company to work closely with Éric Vinet to build an underground mining strategy, support the exploration team, and oversee underground redevelopment activities.

Next Steps

With access to the underground now established, the Company will commence planning work for the rehabilitation of Levels 3, 8, and 16 in the underground to support future planned exploration. This will also facilitate the mine planning work underway, as the Company can inspect underground workings and determine development timelines and costs. Over the coming months, the Company expects to build a plan for future production that will be used to guide the underground drill targeting and assist in prioritizing target areas based on their near-term production potential, as well as define areas of significant resource growth.

Manitoba Mineral Development Fund

The Company is also pleased to report that it has been approved for a $285,636 grant from the Manitoba Mineral Development Fund (‘MMDF’) to support the 2025 drill program at the True North project in Manitoba, Canada .

Proceeds from this grant will go directly to fund the 2025 drill program that commenced in October 2024 , with a projected total of 30,000 meters of drilling within the mine lease area planned. This program continues to advance several new surface targets identified by 1911 Gold, based on the improved geological model developed in conjunction with the extensive work undertaken in 2024 to complete the mineral resource update (see news release dated November 20, 2024 ).

Deferred Share Units

The Company will also issue 125,000 deferred share units (‘DSUs’) to four directors under the LTIP in respect of Q1-2025 director fees. Each DSU entitles the holder to receive one share of the Company, or in certain circumstances a cash payment equal to the value of one share of the Company, at the time the holder ceases to be a director of the Company.

About 1911 Gold Corporation

1911 Gold is a junior explorer that holds a highly prospective, consolidated land package totaling more than 61,647 hectares within and adjacent to the Archean Rice Lake Greenstone belt in Manitoba , and also owns the True North mine and mill complex at Bissett, Manitoba . 1911 Gold believes its land package is a prime exploration opportunity, with the potential to develop a mining district centred on the True North complex. The Company also owns the Apex project near Snow Lake, Manitoba and the Denton-Keefer project near Timmins, Ontario , and intends to focus on organic growth and accretive acquisition opportunities in North America .

1911 Gold’s True North complex and exploration land package are located within the traditional territory of the Hollow Water First Nation, signatory to Treaty No. 5 (1875-76). 1911 Gold looks forward to maintaining open, co-operative and respectful communication with the Hollow Water First Nation, and all local stakeholders, in order to build mutually beneficial working relationships.

ON BEHALF OF THE BOARD OF DIRECTORS

Shaun Heinrichs
President and CEO

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as ‘plans’, ‘expects’ or ‘does not expect’, ‘is expected’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’ or ‘does not anticipate’, or ‘believes’, or describes a ‘goal’, or variation of such words and phrases or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved.

All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements with respect to the terms of the Offering, the use of proceeds of the Offering, the timing and ability of the Company to close the Offering, the timing and ability of the Company to receive necessary regulatory approvals, the tax treatment of the securities issued under the Offering, the timing for the Qualifying Expenditures to be renounced in favour of the subscribers, and the plans, operations and prospects of the Company, are forward-looking statements. Although 1911 Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

All forward-looking statements contained in this news release are given as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE 1911 Gold Corporation

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2025/09/c1593.html

News Provided by Canada Newswire via QuoteMedia

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

Bitcoin and Ethereum price update

At the time of this writing, Bitcoin (BTC) has halted its recent slight recovery, priced at US$77,268.18 and down 2.8 percent in 24 hours. The day’s range has brought a low of US$74,772.55 and a high of US$79,968.91.

Bitcoin performance, April 7, 2025.

Chart via TradingView

Bitcoin has seen sharp volatility amid rising global trade tensions, with US–China tariff escalations fueling fears of a trade war. Investors are retreating from risk assets, while rumors of major institutional sell-offs have added further pressure to its price.

Ethereum (ETH) is priced at US$1,479.31.90, a 5.7 percent decline over the past 24 hours. The cryptocurrency reached an intraday low of US$1,398.62 and a high of US$1,575.01.

Altcoin price update

  • Solana (SOL) is currently valued at US$107.17, down 4.0 percent over the past 24 hours. SOL experienced a low of US$101.86 and a high of US$110.64 on Wednesday.
  • XRP is trading at US$1.83, reflecting a 6.4 percent decrease over the past 24 hours. The cryptocurrency recorded an intraday low of US$1.73 and a high of US$1.95.
  • Sui (SUI) is priced at US$1.97, showing an increaseof 3 percent over the past 24 hours. It achieved a daily low of US$1.87 and a high of US$2.08.
  • Cardano (ADA) is trading at US$0.5748, reflecting a 7.6 percent free fall over the past 24 hours. Its lowest price on Wednesday was US$0.5406, with a high of US$0.6155.

Crypto news to know

Trump’s tariff shock wipes US$2 billion from US Bitcoin stash

The US government’s Bitcoin holdings have dropped by nearly US$2 billion since April 2 —dubbed “Liberation Day” by President Trump— following a steep market selloff triggered by the global tariff announcements.

According to Arkham Intelligence, the 198,012 BTC held by federal agencies declined in value from US$17.24 billion to US$15.21 billion in just under a week as Bitcoin slid from over US$87K to below US$77K.

Trump’s executive order earlier in March established a strategic Bitcoin reserve sourced from seized assets, further tying federal coffers to crypto price swings.

The losses come as the administration ramps up global economic pressure, testing the volatility of its newly created digital reserve.

Pakistan taps Bitcoin mining and AI to solve power woes

Pakistan is turning to Bitcoin mining and AI data centers as a solution for its surplus electricity problem, aiming to repurpose excess power into revenue-generating infrastructure.

Bilal Bin Saqib, head of the country’s Crypto Council, told Reuters that mining sites will be selected based on regional energy overcapacity, with former Binance CEO Changpeng Zhao advising on the initiative.

Despite regulatory ambiguity, Pakistan ranks among the top 10 countries in global crypto adoption and boasts over 15 million users.

The move also emphasizes youth blockchain upskilling and fostering innovation in fintech through regulatory sandboxes to boost exports and economic resilience.

Kraken and Mastercard bring crypto spending to 150 million merchants

Crypto exchange Kraken is teaming up with Mastercard (NYSE:MA) to roll out crypto debit cards across the UK and Europe, enabling users to spend digital assets at more than 150 million merchants.

The partnership builds on Kraken Pay, which allows seamless crypto-to-fiat transactions in over 300 currencies. The new physical and digital cards—set to launch in the coming weeks—are aimed at expanding crypto’s real-world utility and normalizing digital asset payments.

Kraken CEO David Ripley views this as a critical step toward integrating crypto into everyday commerce, while Mastercard underscores its commitment to innovating in digital finance and supporting blockchain initiatives across its global network.

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

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

This post appeared first on investingnews.com

Cobalt metal prices fell to a nine year low in February after another year of oversupply, but rebounded sharply after the Democratic Republic of Congo (DRC) instituted a four month export pause for the critical metal.

After starting the year at US$24,495 per metric ton, cobalt ended the three month period at US$34,040.40, a strong 39 percent increase from January’s value. The price spread between cobalt’s first quarter low of US$21,467.70 on January 29 and its Q1 high of US$36,262 on March 17 is even more impressive at 69 percent.

The drop to US$21,467.70 marked the battery metal’s lowest level since February 2016.

Cobalt’s Q1 price activity comes after a persistent glut in the market prevented prices from gaining in 2024, and this oversupply continued to weigh the market down for the first 45 days of 2025.

A February 22 announcement that DRC would curtail cobalt shipments until the end of June provided much-needed tailwinds for prices, propelling them to highs last seen in 2023. Now sitting at the US$33,660.80 level, questions abound about what will happen to cobalt prices and the supply landscape during the rest of the year.

DRC export suspension boosts oversupplied market

Cobalt supply has ballooned over the last five years, with annual mine supply of the critical metal growing from 140,000 metric tons in 2020 to 290,000 metric tons in 2024. This 107 percent increase has far outpaced rising demand from the electric vehicle (EV) sector and other end-use segments, leading to a massive oversupply.

In mid-February, Rob Searle, battery raw materials analyst at Fastmarkets, wrote that while sector participants were waiting to see whether demand would pick up after the Lunar New Year, his firm wasn’t overly optimistic on prices.

At this stage we are not expecting a significant price correction given the oversupplied nature of the market from intermediates to cobalt metal,’ he explained, adding that cobalt could be due for ‘another bearish year.’

Searle also noted that producer CMOC’s (OTC Pink:CMCLF,SHA:603993) 2025 guidance is pegged at 100,000 to 120,000 metric tons, on par with the 114,000 metric tons it produced in 2024.

Looking at the US, he said while potential tariffs on Canadian cobalt metal could create short-term tightness for ‘certain Western brands,’ Fastmarkets wasn’t looking for a strong 2025 recovery in standard-grade cobalt metal pricing.

In response to the free-falling cobalt metal price, the DRC — the world’s leading cobalt-producing country by far — enacted a four month cobalt export suspension on February 24. The move quickly added tailwinds to cobalt metal prices, which as mentioned rose to a two year high of US$36,262 on March 17.

“The cobalt market has been quiet and stagnant for some time as production has far outstripped demand in the last 18 months. This was the first sign of life and took nearly all parties by surprise … a cut of supply this large will likely lead to a significant price correction in the coming months,” Searle noted in a March 14 release.

“Post-June, when the ban is supposed to lift, the potential for export quotas going forward could support cobalt hydroxide and metal prices for the remainder of 2025 and into 2026.”

While companies are unable to ship cobalt hydroxide from the DRC, the suspension does not prevent the production and stockpiling of the critical material. Officials plan to review the embargo after three months.

Breaking down cobalt demand

The battery sector remains the largest cobalt end-use segment, representing approximately 70 percent of demand. This includes batteries in EVs, consumer goods and energy storage systems.

Super alloys, tooling and chemicals and catalysts account for the majority of the remaining 30 percent, with a small fraction also being used in magnets, medical implants and additive manufacturing (3D printing).

As Adam Webb, head of battery raw materials at Benchmark Mineral Intelligence, explained at the Toronto-based Benchmark Summit in March, positive forecasts and significant growth in the EV market in 2020 and 2021 led to a widespread demand uptick for battery raw materials, including cobalt.

“That led to markets going into deficit, prices rising, and that incentivized new production to come online,” he said.

“But bringing on a new mine is not like turning on a tap — it takes time. So that new supply that was incentivized eventually came online a couple of years later, at the same time there’s been a slowdown in the growth of that demand, and that’s led to all of these markets becoming oversupplied and weighing on prices,’ Webb added.

Will EV growth catalyze cobalt prices?

Although global EV sales have been lower than projected, the sector has registered widespread growth, setting a sales record in 2024 of 17.1 million EVs sold, representing a 25 percent year-on-year increase.

Regionally, China dominated with 40 percent growth, capped by a historic December that saw 1.3 million EVs sold, the highest monthly volume ever recorded, according to RhoMotion. The US posted a modest 9 percent uptick, fueled by federal tax credits that are now threatened by potential Trump administration rollbacks; meanwhile, Europe lagged with a 3 percent decline as automakers and consumers braced for tougher 2025 emissions standards.

“What is clear is that Government carrots and sticks are working,” Rho Motion data manager Charles Lester said in a January report. He explained that subsidies, incentives and mandates in the UK and North America supported growth.

“Meanwhile the removal of subsidies in Germany had a devastating impact on the whole European market, if the US follows suit, we may see the same there,” Lester added.

While full Q1 data for EV sales is yet to be available, January brought sales of 1.3 million units, an 18 percent year-on-year increase. The steady increase has prompted Rho Motion to forecast full-year sales exceeding 20 million units.

Substitution concerns mount as supply chain tightens

While EV sales continue to rise, cobalt’s future demand outlook is slightly obscured. The opacity is due to its growing substitution, with some battery chemistries using smaller amounts or no cobalt at all.

Although lithium nickel manganese cobalt oxide (NMC) batteries remain the preferred chemistry for EV batteries, lithium iron phosphate (LFP) chemistries have been increasing their market share. Accounting for 6 percent of the battery sector in 2020, LFPs now comprise as much as 34 percent of the market.

Even with low prices making cobalt affordable, the market is fraught with issues that make substitution appealing.

Human rights abuses, including child labor and unsafe work conditions in the DRC, have long plagued the country’s cobalt sector. These ethical concerns have prompted companies to seek more sustainable and humane alternatives.

Concentration of production has also created instability in the cobalt supply chain. The DRC’s dominance in cobalt production, accounting for over 60 percent of global supply, exposes manufacturers to geopolitical and supply risks.

To combat these issues, researchers and companies are developing cobalt-free battery technologies, such as lithium-ion batteries using nickel-rich cathodes, which perform comparably to traditional cobalt-based batteries.

“In 2024, the volume of cobalt deployed per vehicle declined by 25 percent year on year,” as per Fastmarkets.

While demand for cobalt will continue due to the expansion of the EV market, these ethical, economic and supply chain concerns are driving the industry toward alternative battery chemistries with reduced or eliminated cobalt content.

In light of these factors, Benchmark’s Webb expects the cobalt sector’s compound annual growth rate to be slightly lower than that of other battery raw materials, coming in at 7 percent over the next decade.

“That’s simply because cobalt is not used in every single lithium ion battery, whereas lithium — the clue is in the name — it is,” said Webb.

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

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