Metals Australia (MLS:AU) has announced Successful completion of Lac Carheil drilling program
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Metals Australia (MLS:AU) has announced Successful completion of Lac Carheil drilling program
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Carbonxt Group (CG1:AU) has announced Additional A$1.5 M raised to support Kentucky Investment
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The first quarter of 2025 was dynamic and often volatile for the tech sector. Initial optimism, fueled by investor enthusiasm after a strong 2024, quickly gave way to economic headwinds and market anxieties.
Concerns over monetary policy, global trade tensions and individual company performances led to variations in tech stock valuations, with the Magnificent Seven ultimately experiencing losses by March.
However, Q1 also brought groundbreaking developments in artificial intelligence (AI), intense competition in the semiconductor industry and new developments in AI agents and robotics.
The performance of major tech companies was influenced by a confluence of events and trends in Q1.
The sector began the year in positive territory, reflecting optimism from investors who saw US President Donald Trump’s November victory as a boon for business. However, this upward trend proved short-lived.
Economic headwinds, most notably cautious monetary policy and investor anxieties about global trade disruption, triggered a market downturn that resulted in periods of tech stock selloffs.
The tech market did demonstrate some signs of recovery in the final week of the quarter.
Outside overall market impacts, tech companies experienced their own fluctuations in Q1.
Intel (NASDAQ:INTC) was boosted by acquisition rumors and a stronger-than-expected Q4 performance, after starting the year down nearly 60 percent from January 2024. Leadership changes mid-March and reports of a restructuring to its chip-manufacturing business further improved the firm’s share price performance.
More broadly, the market’s response to earnings reports highlighted the significant impact of cloud computing, AI investment strategies and future guidance for Big Tech companies.
Amazon (NASDAQ:AMZN), for example, fell after its results revealed weakness in its cloud computing unit despite revenue that exceeded estimates. Similarly, Alphabet (NASDAQ:GOOGL) and Microsoft (NASDAQ:MSFT) saw their share prices decline after capacity restraints were cited as a limitation for both companies.
In contrast, Meta Platforms (NASDAQ:META) surged after it announced substantial AI investments and released results that exceeded expectations. Meanwhile, concerns about Apple’s (NASDAQ:AAPL) AI strategy and sales in Asia led to turbulence in its trading patterns throughout the quarter. Even NVIDIA’s (NASDAQ:NVDA) share price initially dipped following strong earnings, driven by market concerns about competition and geopolitical tensions.
Emergent player CoreWeave’s (NASDAQ:CRWV) journey to its initial public offering demonstrated the volatile and challenging nature of going public in the rapidly evolving AI sector. After its initial announcement revealed a 700 percent increase in 2024 revenue, the company made major moves leading up to its debut, acquiring Weights & Biases for US$1.7 billion before securing a five year, US$11.9 billion cloud services contract with OpenAI.
However, CoreWeave’s March 28 IPO coincided with a hotter-than-expected inflation reading, and the company raised roughly US$1 billion less than its target, with both the number of shares and share price lower than expected.
Beyond individual company performances, the quarter was marked by key developments in AI.
The release of China’s open-source AI model, DeepSeek-R-1, created a significant market disruption when it was reported to perform comparably to models from OpenAI and Anthropic at a significantly lower training cost: US$5.6 million compared to the US$500 million OpenAI reportedly spent to train o1.
The market’s reaction resulted in a 17 percent loss to NVIDIA’s market cap, the largest single-day loss for any company on Wall Street. The Philadelphia Semiconductor Index (INDEXNASDAQ:SOX) lost 9.2 percent.
OpenAI’s Sam Altman expressed curiosity and excitement about the competitor, while others saw it as a development that could increase return on investment for companies using AI and drive further innovation.
“We still don’t know the details and nothing has been 100 percent confirmed … but if there truly has been a breakthrough in the cost to train models from US$100 million+ to this alleged US$6 million number this is actually very positive for productivity and AI end users,” said Jon Withaar, senior portfolio manager at Pictet Asset Management.
Since its release, DeepSeek has been noted to have potential issues with accuracy and security.
Other companies making strides in AI training speed this past quarter include Foxconn Technology (TPE:2354), which reportedly trained its large language model (LLM), FoxBrain, in four weeks.
Celestial AI secured funding to advance photonics technology for more efficient AI computing, and Cohere introduced Command A, an LLM focused on business needs and optimized for efficient inference.
Pluralis Research received funding for its work on decentralized AI systems and “protocol learning,” a method designed to enable collaborative and distributed AI model training.
Competition within the chip industry heated up in the first quarter as AI spending enthusiasm shifted to other semiconductor companies and custom chip development advanced.
Barclay’s (NYSE:BCS,LSE:BARC) analyst Thomas O’Malley reaffirmed his ‘buy’ rating for NVIDIA on January 20 and raised his price target to US$175, but warned that NVIDIA’s customers are looking for alternatives to its GPUs.
He identified Marvel Technology (NASDAQ:MRVL) and Broadcom (NASDAQ:AVGO) as NVIDIA’s biggest contenders, adjusting their price targets to US$150 and US$260, respectively.
For its part, Taiwan Semiconductor Manufacturing Company (TSMC) (NYSE:TSM) has continued to experience strong demand for its chip-making services. Its quarterly profits for Q4 2024 reached a record, and the company is anticipating strong revenue growth moving forward. The firm has planned significant investments in technology and capacity, including US$100 billion for new facilities to boost US chip production.
ASML Holding (NASDAQ:ASML), the sole producer of the EUV lithography machines crucial for advanced AI chips, also exceeded Q4 earnings expectations, resulting in a positive effect on its share price.
Looking ahead, the market for AI agents — autonomous entities that can take actions to achieve specific goals — is poised for expansion. At its annual GPU Technology Conference, held from March 17 to 21, NVIDIA’s CEO emphasized a shift from generative AI to physical AI, describing AI agents as a “multi-trillion dollar opportunity.’
Strategic acquisitions, such as ServiceNow’s intention to buy Moveworks, underscore the growing importance of agentic AI in enterprise solutions. Amazon Web Services is developing a team focused on developing agentic AI, betting on increased client spending for automation. Meta is gearing up to test AI agents for small businesses, and OpenAI is developing premium agent offerings for business and academic pursuits.
While these advancements are exciting, challenges remain, with Gartner predicting a sharp rise in AI agent-related security breaches by 2028. To address reliability, Microsoft is developing ‘deep reasoning agents.’
The first quarter of 2025 also signaled a major acceleration in robotics development, with Google’s new Gemini Robotics models and partnership with Apptronik indicating AI and robotic integration. The US$2 billion valuation for Kyle Vogt’s the Bot Company suggests the robotics sector is poised for growth and market expansion.
Advances like Eliza Wakes Up’s humanoid and Figure AI’s in-house development signal the potential for near-term commercial availability. Funding activity, with Field AI seeking a US$2 billion valuation and Aescape securing US$83 million in strategic funding, demonstrates investor confidence in the potential of robotics.
The massive investments in data centers announced in Q1 foreshadow an expansion of AI infrastructure.
The Trump administration has partnered with executives from Oracle (NYSE:ORCL), OpenAI and SoftBank (TSE:9984) for a four year, US$500 billion AI infrastructure project dubbed Stargate. MGX, an Abu Dhabi-based technology investment firm focused on AI, is another equity partner in the Stargate project.
Separately, MGX is a founding partner in the AI Infrastructure Partnership, a group that includes BlackRock (NYSE:BLK), Global Infrastructure Partners and Microsoft. It is reportedly aiming to invest up to US$100 billion in US and OECD AI infrastructure. NVIDIA and xAI joined the consortium in the first quarter.
This large-scale infrastructure development is mirrored by substantial investment and product development plans from individual tech giants. Apple, Amazon, Microsoft and Meta have all revealed plans for significant AI-related investments in the coming months that include data center builds and product releases, while NVIDIA has committed to spending ‘hundreds of billions of dollars in the US,’ emphasizing TSMC’s manufacturing role in supply chain resilience.
OpenAI is also reportedly finalizing the design for its first in-house AI chip, with a long-term goal of mass production at TSMC by 2026; it is also in talks to build its first data center for storage in Texas near the Stargate data center.
These developments point to a future where data centers become the battleground for AI dominance, with significant implications for energy consumption, hardware demand and technological advancement.
Wrapping up the quarter, Nick Mersch, portfolio manager at Purpose Investments, hosted an ‘ask me anything’ session on Reddit (NASDAQ:RDDT) to share insights on what investors should consider when evaluating tech stocks.
“The number one predictor of stocks over time is their earnings power. Invest in companies that are growing earnings more than the overall market and you will win. This is easy in theory but difficult in practice. You need to look at secular trends in order to skate to where the puck is going. It is much easier to pick a winner in a sector that has strong overall growth than picking through the rubble of a beaten-down industry,’ said Mersch.
“However, you do also have to recognize that sometimes, this is cyclical. That’s why I like to pick companies that are what I call ‘compounders.’ These are companies that are growing both top line (revenue) and bottom line (earnings) at a solid rate and are reinvesting in new growth avenues. At the end of the day, you need cash flow generative companies.’
Mersch added, “Look for three things — earnings, earnings, and earnings.”
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Gold may be grabbing headlines with record-breaking highs in 2025, but silver is quietly making its own impressive climb, rising 17 percent since the start of the year.
Long supported by industrial demand, the silver market is also benefiting from its reputation as a safe-haven asset. However, mounting economic uncertainty has rattled investors in recent months.
While there are many driving forces behind this uncertainty, the ongoing tariff threats from US President Donald Trump and his administration have spooked equity markets worldwide.
After reaching a year-to-date high of US$34.72 per ounce in October 2024, the price of silver spent the rest of the year in decline, bottoming out at US$28.94 on December 30.
A momentum shift at the start of the year caused it to rise. Opening at US$29.53 on January 2, silver quickly broke through the US$30 barrier on January 7, eventually reaching US$31.28 by January 31.
Silver price, January 2 to April 4, 2025
Chart via Trading Economics.
Silver’s gains continued through much of February, with the white metal climbing to US$32.94 on February 20 before retreating to US$31.13 on February 28. Silver rose again in March, surpassing the US$32 mark on March 5 and closing above US$32 on March 12. It peaked at its quarterly high of US$34.43 on March 27.
Heading into April, silver slumped back to US$33.67 on the first day of the month; it then declined sharply to below US$30 following Trump’s tariff announcements on April 2.
Precious metals, including silver, have benefited from the volatility created by the Trump administration’s constant tariff threats since the beginning of the year. These threats have caused chaos throughout global equity and financial markets, prompting more investors to seek safe-haven assets to stabilize their portfolios.
“We don’t really have any indication yet that industrial demand has weakened. There is, of course, a lot of concern regarding industrial demand, as tariffs could cause demand destruction as costs go up,” he said.
Krauth noted that for solar panels there is an argument that tariffs could positively affect industrial demand if countries have a greater desire for self-sufficiency and reduced reliance on energy imports.
He referenced research by Heraeus Precious Metals about a possible slowdown in demand from China, which accounts for 80 percent of solar panel capacity. However, any slowdown would coincide with a transition from older PERC technology to newer TOPCon cells, which require significantly more silver inputs.
“This, along with the gradual replacement of older PERC solar panels with TOPCon panels, should support silver demand at or near recent levels,” Krauth said.
Another potential headwind for silver is the looming prospect of a recession in the US.
At the beginning of 2024, analysts had largely reached a consensus that some form of recession was inevitable.
While real GDP in the US rose 2.8 percent year-on-year for 2024, data from the Federal Reserve Bank of Atlanta’s GDPNow tool shows a projected -2.8 percent growth rate for the first quarter.
The Bureau of Economic Analysis won’t release official real GDP figures until April 30, but the Atlanta Fed’s numbers suggest a troubling fall in GDP that could signal an impending recession.
“When the economy slows down, demand for manufactured goods, including silver, decreases, which means that buying in the next six months is unlikely to be a wise decision,” she said.
Solar panels account for significant demand, with considerable amounts also used in electric vehicles. Tariffs on US vehicle imports and a possible recession could create added pressure for silver.
“Another important factor is silver’s connection to the electric vehicle market. Previously, this sector supported demand for the metal, but now its growth has slowed down. In Europe and China, interest in electric cars is no longer so active, and against the background of economic problems, sales may even decline,” Khandoshko said.
Silver demand from solar panel production stands at 232 million ounces annually, with an additional 80 million ounces used by the electric vehicle sector. A recession could lead consumers to postpone major purchases, such as home improvements or new vehicles, particularly if coupled with the extra costs of tariffs.
Although the impact of tariffs on the economy — and ultimately demand for silver — remains uncertain, the Silver Institute’s latest news release on March 3 indicates a fifth consecutive annual supply deficit.
“I think silver will hold up well and rise on balance over the rest of this year,” Krauth said.
He also noted that, like gold, there have been shipments of physical silver out of vaults in the UK to New York as market participants try to avoid any direct tariffs that may be coming.
Khandoshko suggested silver’s outlook is more closely tied to consumer sentiment. “The situation may also change when the news stops discussing the high probability of a recession in the US,” she remarked.
With Trump announcing a sweeping 10 percent global tariff along with dozens of specific reciprocal tariffs on April 2, there appears to be more instability and uncertainty ahead for the world’s financial systems.
This uncertainty has spread to precious metals, with silver trading lower on April 3 and retreating back toward the US$31 mark. Investors might be taking profits, but it could also be a broader pullback as they determine how to respond in a more aggressively tariffed world. In either scenario, the market may be nearing opportunities.
“There is some risk that we could see a near-term correction in the silver price. I don’t see silver as currently overbought, but gold does appear to be. I think we could get a correction in the gold price, which would likely pull silver lower. I could see silver retreating to the US$29 to US$30 level. That would be an excellent entry point. In that scenario, I’d be a buyer of both the physical metal and the silver miners,” Krauth said.
With increased industrial demand and its traditional safe-haven status, silver may present a more ideological challenge for investors in 2025 as competing forces exert their influence. Ultimately, supply and demand will likely be what drives investors to pursue opportunities more than its safe-haven appeal.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
CleanTech Lithium PLC (AIM: CTL, Frankfurt:T2N), an exploration and development company advancing sustainable lithium projects in Chile, is pleased to announce the appointment of Ignacio Mehech, former Country Manager of Albemarle in Chile, as the Chief Executive Officer (‘CEO’) and director of CleanTech Lithium.
Click link to watch interview with Ignacio Mehech: https://youtu.be/4iMx2vIZw9g
Highlights:
· Mr Mehech spent seven years up to 2024 at Albemarle with the last three years as Country Manager in Chile, managing a workforce of 1,100 employees and key stakeholder relationships, including Government and indigenous communities
· Albemarle is the world’s largest producer of battery grade lithium with Chile accounting for 30 – 40% of its production*
· Native to Chile, Spanish speaking and fluent in English, Mr Mehech has deep leadership and project development experience in lithium production
· Managed high profile engagements with investors, customers, NGOs, analysts, scientists and international government representatives
· Before Albemarle, Mr Mehech led the legal strategy for the El Abra copper operation in Chile, a joint venture with Codelco, and leading US mining company Freeport McMoRan
· Throughout his career Mr Mehech has led profound transformations in organisations to generate sustainable value
· Mr Mehech holds a law degree from the Universidad de Chile and a master’s degree in Energy and Resources Law from the University of Melbourne, Australia.
Ignacio Mehech, Chief Executive Officer, CleanTech Lithium PLC said:
‘I’ve been following CleanTech Lithium’s progress in Chile for the past couple of years and have been impressed at the progress that has been achieved, with the Company being one of the most active in Chile in seeking to develop a more sustainable means of producing lithium from Chile’s abundant brine resources.
I’m truly excited to take on the role as CEO to advance CleanTech’s Laguna Verde project and the other business opportunities in Chile. The immediate focus is entering direct negotiations with the Chilean government and progressing the CEOL application for Laguna Verde and delivering the Pre-Feasibility Study to initiate strategic partner conversations. I look forward to leading CleanTech Lithium’s project development alongside a dedicated team and to deliver value to all our stakeholders whilst supporting the ambitions of Chile’s National Lithium Strategy.’
Steve Kesler, Executive Chairman, CleanTech Lithium PLC, said:
‘We are delighted that Ignacio has agreed to join us as CEO. His experience in Chile is invaluable, having been Country Manager for leading lithium producer Albemarle, and working on the EL Abra copper mine in Chile for US mining giant Freeport McMoRan. Ignacio joins CleanTech at a crucial point in our development and his significant experience will be instrumental in leading our Laguna Verde project into the next phase.’
‘I will continue in my role as Executive Chairman intending to move back to being the Company’s Non-Executive Chairman when our Board believes the time is right. I look forward to working with Ignacio and remain confident in the long-term potential of CleanTech Lithium.’
Figure 1: Ignacio Mehech (centre) participating in a panel discussion at the Future Mining and Energy Congress in Santiago, Chile October 2023. Photo credit: Future Mining and Energy Congress
Background on Ignacio Mehech
During his tenure at Albemarle, a US-listed company with a current market cap of around US$6 billion as of 8th April 2025, Mr Mehech played a pivotal role in driving production growth, strategic negotiations, and sustainability initiatives, significantly impacting Albemarle’s operations in Chile and the broader region. Since 2015, Chile has been Albemarle’s largest single operation – depending on market prices – accounting for 30 to 40% of its global production.
A landmark achievement under his guidance was securing the first-ever IRMA (Initiative for Responsible Mining Assurance) certification for a lithium operation worldwide at the Salar de Atacama plant-a testament to his commitment to environmental and social responsibility.
Previously to Albemarle, Mr Mehech has worked as a legal manager at Freeport-McMoRan, one of the largest copper and molybdenum producers in the world, with multiple assets around the globe. In Chile, it operates SCM El Abra, a joint venture with Codelco, located in Calama and where Mr Mehech was responsible for developing and leading the legal strategy for the business, assuring operational continuity, building relationships with regional authorities, indigenous and non-indigenous communities.
Ignacio Mehech Castellon, aged 42, has held the following directorships and/or partnerships in the past 5 years:
Current |
Past |
Cobreloa SADP |
Fundacion Chilena Del Pacifico Club Sirio Unido UN Global Compact, Chilean Chapter |
Mr Mehech currently holds no ordinary shares or other securities in the Company.
There is no further information on Ignacio Mehech required to be disclosed under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.
*Statistic taken October 2024 – Albemarle is the world’s largest lithium producer – Mining.com https://www.mining.com/web/ranking-the-worlds-top-lithium-producers/
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, this inside information is now considered to be in the public domain. The person who arranged for the release of this announcement on behalf of the Company was Gordon Stein, Director and CFO.
For further information contact: |
|
CleanTech Lithium PLC |
|
Steve Kesler/Gordon Stein/Nick Baxter |
Jersey office: +44 (0) 1534 668 321 Chile office: +562-32239222 |
Or via Celicourt |
|
Celicourt Communications Felicity Winkles/Philip Dennis/Ali AlQahtani |
+44 (0) 20 7770 6424 cleantech@celicourt.uk |
Beaumont Cornish Limited (Nominated Adviser) Roland Cornish/Asia Szusciak |
+44 (0) 20 7628 3396 |
Fox-Davies Capital Limited (Joint Broker) Daniel Fox-Davies |
+44 (0) 20 3884 8450 daniel@fox-davies.com |
Canaccord Genuity (Joint Broker) James Asensio |
+44 (0) 20 7523 4680 |
Beaumont Cornish Limited (‘Beaumont Cornish’) is the Company’s Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish’s responsibilities as the Company’s Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.
Notes
CleanTech Lithium (AIM:CTL, Frankfurt:T2N) is an exploration and development company advancing lithium projects in Chile for the clean energy transition. CleanTech Lithium has two key lithium projects in Chile, Laguna Verde and Viento Andino, and exploration stage project in Arenas Blancas (Salar de Atacama), located in the lithium triangle, a leading centre for battery grade lithium production.
The two most advanced projects: Laguna Verde and Viento Andino are situated within basins controlled by the Company, which affords significant potential development and operational advantages. All three projects have good access to existing infrastructure.
CleanTech Lithium is committed to utilising Direct Lithium Extraction (‘DLE’) with reinjection of spent brine resulting in no aquifer depletion. Direct Lithium Extraction is a transformative technology which removes lithium from brine with higher recoveries, short development lead times and no extensive evaporation pond construction. For more information, please visit: www.ctlithium.com
Click here for the full release
South Sudan has reversed its decision to deny entry to a man it said was a Congolese national deported by the United States after Washington imposed a blanket visa ban on South Sudanese citizens.
In a dramatic U-turn on Tuesday, South Sudan’s foreign ministry said the government had chosen to admit the deportee, identified as Makula Kintu, “in the spirit of the friendly relations between South Sudan and the United States.”
US President Donald Trump has heavily cracked down on immigration since his return to power in January and has launched a series of deportation actions in recent months.
On Saturday, US Secretary of State Marco Rubio announced that visas held by South Sudanese citizens were being revoked and no new visas would be granted to people from the country over their government’s failure to receive deportees “in a timely manner.”
South Sudan, the world’s youngest nation and one of its poorest is already troubled by armed conflict in its northern region that threatens to plunge it back into another civil war.
On Monday, the South Sudanese foreign ministry clarified that Kintu arrived at the Juba International Airport in the country’s capital on Saturday with a travel document that was not his.
According to the ministry, he presented “a South Sudanese travel document under the name Nimeri Garang” to immigration officials.
However, a series of verifications revealed that he was not Garang and instead identified him as Kintu — a citizen of the neighboring Democratic Republic of Congo (DRC).
“He (Kintu) was not admitted (into South Sudan) and was subsequently returned to the sending country (the US) for further processing,” it added.
The ministry explained it was awaiting the arrival of the actual Garang, whom it said the South Sudanese embassy in Washington had been notified by the US State Department of his deportation and scheduled arrival in Juba next month.
US authorities are yet to comment on the nationality discrepancy.
The South Sudanese foreign ministry cited information on Kintu’s travel history supplied by the US Department of Homeland Security which stated that he initially arrived in the US in 2003 “and voluntarily departed for the Democratic Republic of Congo in 2009.”
It added that Kintu “re-entered the United States illegally on July 10, 2016” and that while he was being questioned Saturday by immigration officials at the Juba airport, Kintu “stated that he hails from the Ema tribe of the Northern Kivu Province in the Democratic Republic of Congo and added that he was brought to South Sudan against his will.”
In its latest communication Tuesday, the ministry noted that Kintu would nonetheless be allowed to enter South Sudan when he arrives again on Wednesday.
“The Government of the Republic of South Sudan remains committed to supporting the return of verified South Sudanese nationals who are scheduled for deportation from the United States,” the foreign ministry said.
García would not discuss any specifics around the deportees beyond confirming they are in his facility. But when pressed, he said “there are no privileges.”
Some 278 men have been deported by the Trump administration to El Salvador, accused of being members of the Venezuelan Tren de Aragua gang or Salvadorans who are said to be part of MS-13.
But they also include Kilmar Armando Abrego Garcia, a sheet metal worker and father-of-three from Maryland, who was mistakenly removed from the US through an “administrative error.”
His case is now with the US Supreme Court, which extended the deadline of a lower court judge requiring the administration to get him back by midnight on Monday.
García said he was not familiar with the specifics of any individual deportee and could not comment further.`
They are removed from their communal cell by armed personnel and taken to a room with video conference facilities. Monitors showed court proceedings in progress, apparently with lawyers and judges present.
Cecot houses both convicted criminals and those still going through El Salvador’s court system. With many constitutional rights suspended under El Salvador’s years-long state of emergency, some people have been detained by mistake, President Nayib Bukele has admitted; several thousand of them have already been released.
Each of the eight sectors is fully self-contained with these conference rooms as well as a medical clinic, with the intention that inmates never step outside their warehouse-like building.
They are watched through the bars constantly and the lights are always on, García said. There are even guards on catwalks above the cells.
Looking down through the metal-grille ceiling into a cell, the deliberate harshness of the life for the Salvadoran inmates — whether convicted or awaiting trial — is clear. They are allowed no personal possessions; they must use an open toilet and there’s a cement basin for washing and large jug for drinking water.
Still, there are checks for contraband when the inmates are “extricated” from the cells. The men have their hands cuffed behind them and then run to sit in a designated spot, stretching their legs around those of the man in front in what becomes a human herringbone pattern.
When Secretary of Homeland Security Kristi Noem visited CECOT last month, she recorded a video message to say to undocumented immigrants in the US: “This is one of the consequences you could face.”
“First of all, do not come to our country illegally. You will be removed, and you will be prosecuted,” she said. “But know that this facility is one of the tools in our toolkit that we will use if you commit crimes against the American people.”
It is busier inside now, with more men in each cell.
Last year, García would say only between 10,000 and 20,000 inmates were being held. Now he says it’s getting closer to its 40,000 maximum population, but once again declined to give a specific number, citing security precautions. The growth would include the deportees from the US, but be mostly Salvadorans rounded up under the emergency situation introduced by Bukele.
A thousand or more armed guards rotate duties at the prison, built in just seven months and opened in January 2023. The prison is also ringed by multiple electric fences and 19 watchtowers.
For critics, Cecot is a sign of how quickly rights can disappear. But for many in El Salvador it is proof of effective control and a return to security in what was once the “murder capital of the world.”
New images have emerged of one of China’s futuristic fighter jets, a three-engine, tailless flying wing aircraft that Western analysts have dubbed the J-36.
It’s unclear when the images, which are taken from a video, were shot, but they appeared on Chinese social media sites on Monday and show the aircraft flying over a highway near the runway of Chengdu Aircraft Industry Group, the factory in Sichuan province where the new jet is believed to have been made.
Images of the J-36 first appeared on Chinese social media late last year, quickly capturing the attention of aircraft enthusiasts and military analysts. More appeared online last month.
The jet is thought to be a sixth-generation aircraft, incorporating the latest stealth technology, avionics and powerplant and airframe engineering.
Military aviation expert David Cenciotti, a former Italian Air Force officer, said on his website, The Aviationist, that the six-second video gives a close look at the design of the J-36.
“The trijet engine arrangement, with two engine intakes under the wings and a dorsally-mounted intake behind the cockpit, is a departure from conventional twin-engine setups seen in many contemporary fighters. This configuration may offer advantages in terms of thrust and redundancy,” Cenciotti wrote.
He said space on the aircraft’s belly shows room for internal weapons bays that could enable it to carry long-range strike missiles.
The J-36 could see China pull even with, or possibly ahead of, the United States in the race to field a sixth-generation fighter.
The US military’s fifth-generation jets – the twin-engine F-22 and single-engine F-35 – are generally regarded as the world’s best at the moment, though China also has two fifth-generation models, the J-20 and J-35. Neither of those Chinese jets has proven combat experience and effectiveness like the two US fighters, however.
US President Donald Trump announced last month that a contract for the US Air Force’s sixth-generation fighter – dubbed the F-47 – had been awarded to Boeing. Trump said a prototype of the jet had been flying for five years.
But a US Air Force announcement of the Boeing contract for the F-47 did not give a timeline for when the jets would be deployable, saying only the contract awarded on March 21 covered “the engineering and manufacturing development phase” as well as funds for “a small number of test aircraft for evaluation.”
While China’s J-36 was dominating military aviation chatter this week, it’s not the only sixth-generation jet that Beijing seems to have in the works.
The same day that pictures emerged of the J-36 in December, photos were also posted of a new tailless, twin-engine jet, referred to by analysts as the J-XX and sometimes the J-50.
The People’s Liberation Army (PLA) hasn’t publicly acknowledged the existence of either the J-36 or J-50.
But the state-run tabloid Global Times last month ran a story quoting various Chinese military experts as saying the images of the two new aircraft “if authentic,” show China is making quick progress on sixth-generation fighter jets.
“From a development point of view, China appears to be determined to make explorations on next-generation aviation equipment,” Wang Ya’nan, chief editor of Aerospace Knowledge magazine, was quoted as saying.
It can take years for a fighter jet to go from concept to public introduction, let alone deployment.
China’s J-35 was first shown to the public at last November’s Airshow China in Zuhai, but it had been in development for 10 or more years, according to analysts.
In late November, a gaggle of open-water swimmers set out from Sydney’s Bondi Beach. About 500 meters (1,600 feet) from shore, they stopped and formed a line 150 meters (about 500 feet) long, treading water above the length of the beach’s shark net.
They hoped to demonstrate that the length of the net paled in comparison to that of the world-famous kilometer-long beach. And that if they could easily bypass the net, sharks can too.
Miller was out of town the day of the protest, but she’s among a growing group of swimmers, surfers, animal welfare advocates, and others vocally opposed to shark nets, which have been used at Sydney’s beaches every summer since 1937.
Opponents of the nets – which are installed at 51 beaches between Newcastle and Wollongong – argue they are ineffective, outdated, and harmful to the ocean ecosystem. They say nets provide swimmers with a false sense of security. Some academic studies back up claims that the nets are not effective at keeping people safe.
From September 2023 to April 2024, 255 marine creatures were entangled in shark nets in New South Wales (NSW). But only 15 of those animals were “target species” like great white, tiger and bull sharks. The rest were rays, turtles, dolphins, fish like longtail tuna, and sharks not considered dangerous.
This year, amid growing opposition to the nets, they were removed on March 31, a month earlier than normal, due to increased turtle activity in April.
And in recent months, in response to a survey sent out by the NSW government, asking local authorities to vote on the use of shark nets, none of the eight councils where shark nets are used elected to continue their use next season, according to Humane World for Animals.
Now, the state government is set to decide if shark nets have a future in NSW.
Going to the beach is a popular pastime in Australia, where almost 90% of the population lives within 50 kilometers (30 miles) of the coast. The country’s shoreline is also home to several species of sharks, including tiger, bull, and great white sharks, that are most frequently involved in serious injuries to humans.
NSW has a comprehensive shark management program to try to keep beachgoers safe.
In addition to nets, authorities use technologies like SMART drumlines, which consist of a buoy and a baited hook. When an animal is caught, authorities are alerted. Non-target animals are released, and sharks of target species are tagged and released farther out to sea. Later, if a tagged shark swims close to shore, the public is alerted via an app and updates to an X account. Drone patrols are also a common sight over the state’s beaches.
“It’s not something that we considered flippantly, it’s not something that’s a response to special interests,” he added. “It is something that is based on science.”
Over the last 10 years there were, on average, 2.8 annual fatalities from shark incidents nationally, 20 cases a year where people were injured, and seven a year where the person was uninjured, according to the Taronga Conservation Society Australia, which works on the Australian Shark-Incident Database.
For comparison, in 2023, 125 people drowned in the ocean, according to Surf Life Saving Australia, and there were 1,266 fatalities on Australian roads over the same period, according to official data.
Since the meshing program began in 1937, there has only been one fatal shark incident at a netted beach, and that was back in 1951, says Green, of NSW DPIRD. He points to a 1997 study that says when they were first introduced, shark nets in NSW, Queensland and South Africa reduced the rate of shark incidents by about 90%.
He added that to date, there has not been a shark bite while drones have been monitoring a beach. (Officials have been trialing the use of drones to detect sharks at NSW beaches since 2017).
The tensions over the future of shark nets were on full display in late February at a local council meeting in Randwick, home to Coogee, another popular Sydney beach, just a few kilometers south of Bondi.
“They do not form a barrier, deter, deflect, or stop sharks from swimming at beaches,” Lauren Sandeman, a PhD researcher in human and shark interactions, told the council. “Their goal is to entangle and kill whatever swims into the net.”
For others, the risk of changing tack is too great. “If these shark nets were removed and some person is getting mauled by a shark and being killed, I couldn’t face that person’s partner or parent,” said councilor Noel D’Souza, before casting his vote to keep the nets in the water.
In the end, eight councilors voted to do away with shark nets, beating out the seven councilors who want them to stay.
The population of grey nurse sharks on Australia’s East coast has dwindled to about 2,000 animals making them critically endangered. The sharks, which can grow over to over three meters (almost 10 feet) in length and have long, scraggly teeth visible even when their mouths are closed, are not considered a threat to divers and swimmers.
“They have this ferocious look about them, and yet they’re these cute, cuddly Labradors,” says Sarah Han-de-Beaux, a Sydney-based free- and scuba diver, who frequently spots the sharks on her outings.
Several years ago, Han-de-Beaux and others started “Saving Norman,” a campaign to advocate for the removal of the nets. (Many Sydney residents refer to grey nurse sharks as “Norman,” a name coined by a local drone photographer).
In recent months, she’s given up most of her weekends to campaign for the removal of the nets, manning booths at local beaches to educate the public.
“People think they stretch the whole beach,” she says, but all shark nets in NSW span 150 meters (about 500 feet) and are just six meters tall.
Han-de-Beaux says that it’s been a year of progress. This summer, the frequency of net inspections went up to every two days from every three days, to increase the possibility of releasing entangled animals alive. (The previous summer, only 36% of the 255 creatures caught in the nets were released alive).
Other measures to protect accidental catch, like installing lights on the nets to deter turtles, were trialed. And in recent weeks, local officials have been posting signs warning the public of the early removal of the nets.
Now, a decision is expected from the New South Wales government on if the nets will go back in next September. Pepin-Neff estimates that the decision might be clear when the next state budget is announced, generally around June.
The government will consider feedback from the surveys it sent out to coastal councils, and other data as it develops its shark management program for the 2025 to 2026 season, according to Green. “Our program is evidence-based after many years of trials and research,” he added.
In the meantime, swimmers like Miller plan to keep taking to the water, nets or not, accepting the risk of entering a shark’s natural habitat.
“Every time I get in the ocean, I assume that there are sharks in there. It’s where they live,” she says. “We’d have to be super unlucky for something to go terribly wrong.”
US Defense Secretary Pete Hegseth said Tuesday the Panama Canal faces ongoing threats from China but that together the United States and Panama will keep it secure.
Hegseth’s remarks triggered a fiery response from the Chinese government, which said: “Who represents the real threat to the Canal? People will make their own judgement.”
Speaking at a ribbon cutting for a new US-financed dock at the Vasco Nuñez de Balboa Naval Base after a meeting with Panama President José Raúl Mulino, Hegseth said the US will not allow China or any other country to threaten the canal’s operation.
“To this end, the United States and Panama have done more in recent weeks to strengthen our defense and security cooperation than we have in decades,” he said.
Hegseth alluded to ports at either end of the canal that are controlled by a Hong Kong consortium, which is in the process of selling its controlling stake to another consortium including BlackRock Inc.
“China-based companies continue to control critical infrastructure in the canal area,” Hegseth said. “That gives China the potential to conduct surveillance activities across Panama. This makes Panama and the United States less secure, less prosperous and less sovereign. And as President Donald Trump has pointed out, that situation is not acceptable.”
Hegseth met with Mulino for two hours Tuesday morning before heading to the naval base that previously had been the US Rodman Naval Station.
On the way, Hegseth posted a photo on X of the two men laughing and said it was an honor speaking with Mulino. “You and your country’s hard work is making a difference. Increased security cooperation will make both our nations safer, stronger and more prosperous,” he wrote.
Late Tuesday, Mulino and Hegseth released a joint statement.
A vaguely worded portion of the statement suggested the two had discussed the tolls the United States pays for its ships crossing the canal. It said that within the canal’s framework, “the Republic of Panama and the United States of America will work, as established, on a mechanism to compensate for the payment of tolls and charges.”
Panama’s Foreign Relations Ministry did not immediately answer a request for clarification.
But the Spanish and English versions had at least one significant discrepancy. The Spanish version included that “Secretary Hegseth recognized the leadership and inalienable sovereignty of Panama over the Panama Canal and its adjacent areas.” That sentence appeared nowhere in the English version.
The visit comes amid tensions over Trump’s repeated assertions that the US is being overcharged to use the Panama Canal and that China has influence over its operations — allegations that Panama has denied.
Shortly after the meeting, the Chinese Embassy in Panama slammed the American government in a statement on X, saying the US has used “blackmail” to further its own interests and that who Panama carries out business with is a “sovereign decision of Panama … and something the US doesn’t have the right to interfere in.”
“The US has carried out a sensationalistic campaign about the ‘theoretical Chinese threat’ in an attempt to sabotage Chinese-Panamanian cooperation, which is all just rooted in the United State’s own geopolitical interests,” the embassy wrote.
After Hegseth and Mulino spoke by phone in February, the US State Department said that an agreement had been reached to not charge US warships to pass through the canal. Mulino publicly denied there was any such deal.
Trump has gone so far as to suggest the US never should have turned the canal over to Panama and that maybe that it should take the canal back.
The China concern was provoked by the Hong Kong consortium holding a 25-year lease on ports at either end of the canal. The Panamanian government announced that lease was being audited and late Monday concluded that there were irregularities.
The Hong Kong consortium, however, has already announced that CK Hutchison would be selling its controlling stake in the ports to a consortium including BlackRock Inc., effectively putting the ports under American control once the sale is complete.
US Secretary of State Marco Rubio told Mulino during a visit in February that Trump believes China’s presence in the canal area may violate a treaty that led the US to turn the waterway over to Panama in 1999. That treaty calls for the permanent neutrality of the American-built canal.
Mulino has denied that China has any influence in the operations of the canal. In February, he expressed frustration at the persistence of the narrative. “We aren’t going to speak about what is not reality, but rather those issues that interest both countries,” he said.
The US built the canal in the early 1900s as it looked for ways to facilitate the transit of commercial and military vessels between its coasts. Washington relinquished control of the waterway to Panama on Dec. 31, 1999, under a treaty signed in 1977 by President Jimmy Carter.
“I want to be very clear, China did not build this canal,” Hegseth said Tuesday. “China does not operate this canal and China will not weaponize this canal. Together with Panama in the lead, we will keep the canal secure and available for all nations through the deterrent power of the strongest, most effective and most lethal fighting force in the world.”