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President Donald Trump said he spoke with Russian President Vladimir Putin Monday, after meeting with Ukrainian President Volodymyr Zelenskyy and European leaders at the White House, to begin coordinating next steps in the peace process aimed at ending the war in Ukraine. 

The president posted on his Truth Social platform Monday evening saying that he had called Putin at the conclusion of a day of meetings to begin ‘the arrangements for a meeting’ between the Russian president and his Ukrainian counterpart. Trump’s call to Putin mirrored his decision to call Zelenskyy following Friday’s Alaska summit with Putin. 

‘At the conclusion of the meetings, I called President Putin, and began the arrangements for a meeting, at a location to be determined, between President Putin and President Zelenskyy,’ Trump confirmed, following media reports hinting at the call.

The president added that after the meeting between the two warring presidents, there would be a trilateral meeting with the United States as well. 

‘After that meeting takes place, we will have a Trilat, which would be the two Presidents, plus myself,’ the president continued. ‘Again, this was a very good, early step for a War that has been going on for almost four years.’

Yury Ushakov, a top aide to Russian President Vladimir Putin, said Trump and Putin were on the phone for about 40 minutes and held a ‘candid and very constructive’ dialogue, according to CNN.

Putin ‘expressed support for direct negotiations between the delegations of Russia and Ukraine,’ Ushakov reportedly added.

Officials familiar with Monday’s talks also reportedly said Trump’s call to Putin came in-between talks with the European leaders present at the White House. Meanwhile, one of those leaders, German Chancellor Friedrich Merz, reportedly said Putin agreed in the call with Trump to meet Zelenskyy in two weeks. 

Earlier in the day, Trump was caught in a hot-mic moment telling French President Emmanuel Macron that Putin wants to find a resolution to bring the war in Ukraine to an end for him.

‘I think [Putin] wants to make a deal,’ Trump whispered to Macron in the East Room as they were preparing for Monday’s talks. ‘I think he wants to make a deal for me, you understand that? As crazy as it sounds.’

Following Monday’s talks, Zelenskyy thanked Trump and all the other leaders present in D.C. for their work in trying to bring peace to his country, noting that the talks were ‘long and detailed.’  

‘Today, important negotiations took place in Washington. We discussed many issues with President Trump. It was a long and detailed conversation, including discussions about the situation on the battlefield and our steps to bring peace closer,’ Zelenskyy said in a post on X Monday night.

‘We appreciate the important signal from the United States regarding its readiness to support and be part of these guarantees. A lot of attention today was given to the return of our children, to the release of prisoners of war and civilians held by Russia. We agreed to work on this,’ Zelenskyy continued. ‘The U.S. President also supported a meeting at the level of leaders. Such a meeting is necessary to resolve sensitive issues.’ 

Fox News Digital reached out to the White House for comment on this but did not receive a response.

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I’m with President Trump: ‘There’s no deal until there’s a deal.’

And now that he has changed his stance and is openly siding with Vladimir Putin, despite vehement objections from Volodymyr Zelenskyy, who visited the White House yesterday, a deal seems rather elusive.

Putin’s interest in peace is underscored by his continued bombardment of Ukraine, the country he illegally invaded, with the latest round killing 10 people. Which is to say the Kremlin dictator has no conceivable interest in peace, except on his maximalist terms.

Look, I’m rooting for Trump. If he can somehow square the circle of this brutal and bloody war, and bring things to an end, he will deserve the Nobel Peace Prize. And Hillary said she’d nominate him.

But the negative reviews of the Alaska sitdown has rankled Trump and prompted him to lash out at Fake News on Truth Social:

‘If we had the Summit elsewhere, the Democrat run and controlled media would have said what a terrible thing THAT was. These people are sick!’

Okay, he doesn’t like the press. Except we now know, thanks to his in-flight comments to Fox’s Bret Baier, that he enjoys the sparring, likening it to a golf game. The reporters are all trying to get him to make a mistake. If he makes no breaking news, he wins. If he does say something that’s breaking news, he didn’t put the ball in the hole and they’ve got him. 

I watched Sunday morning as Zelenskyy and top European officials said only Russia can end the war and that Ukraine would not be surrendering the Donbas region, home to more than 200,000 people.  

As Gen. Wesley Clark told me on ‘Media Buzz,’ once you get past the Donbas region, it’s a ‘straight shot’ to Kyiv, so the brave Ukrainians, who have held off the far bigger Russian war machine, would be defenseless. 

It’s mildly encouraging that media reports say Putin has accepted the need for security forces to protect Ukraine, meaning the Europeans – and the U.S. – would send troops for a peacekeeping unit.

When special envoy Steve Witkoff, who was in the room during the Putin session, was asked about Trump’s change of position, I thought he’d deny it, but he didn’t. That confirms the stories are true, and certainly complicates matters.

German Chancellor Friedrich Merz said over the weekend that Trump ‘said himself that a ceasefire was his absolute most important and highest priority. So, it was a joint demand, which isn’t happening now. We would have indeed hoped for a cease-fire first. The Russian side was obviously unwilling to do that.’

So what exactly is Putin giving up? Nothing, as far as I can see. Every day without a cease-fire is another day that the indicted war criminal gets to cement his battlefield gains.

And, under these circumstances, Trump expects Ukraine’s president to join in a trilateral meeting with him and Putin? 

Responding to Fox’s Peter Doocy, Trump said: ‘I think if everything works out well today, we’ll have a trilat and I think there will be a reasonable chance of ending the war when we do that.’ 

Zelenskyy, who repeatedly praised Trump–he wasn’t going to make the same mistake twice after getting kicked out of the White House following his meltdown back in February–reminded reporters that ‘we live under, each day, attacks. You know, that today have been a lot of attacks and a lot of wounded people. And the child was dead, small one, one year and half.

‘So we need to stop this war, to stop Russia. And we need to support American and European partners that will do our best, for this. So, and I think we show that we are strong people and we supported the idea of the united system of personnel, President Trump to stop this war, to make a diplomatic way of finishing this war. And we are ready for trilateral as presidents.’

Now that stunned me. He’s willing to sit down with Putin and Trump after insisting on a cease-fire first – which was also the president’s position until he flipped and abandoned it after the sitdown with the indicted war criminal?

So what was the mood afterward?

‘I’m optimistic that collectively we can reach an agreement that would deter any future aggression against Ukraine,’ Trump said. He added, ‘I have a feeling you and President Putin are going to work something out.’

Zelenskyy ‘praised the constructive specific meeting,’ adding: ‘There is a lot of people in prison. So we need them back and guarantees which will work for the years. We spoke about it and I showed president a lot of details on the battlefield, on the map.’ 

But will Putin, who views Zelenskyy as an illegitimate leader, attend?

All the chatter about the red carpet and other atmospherics is meaningless. Yes, Zelenskyy wore a suit, albeit a military-style one.

We should all be rooting for Trump. Even if he falls short, and the war drags on, it can only end with a negotiated settlement.

At one point, Trump broke away from the session and called Putin, rather than waiting till afterwards.

Trump posted that this was ‘a very good early step,’ and early may be the operative word. The war could certainly drag on. But it can’t end on the battlefield. We wouldn’t have gotten this far without Trump’s unique preference for leader-to-leader talks, even though he’s now openly siding with Vladimir Putin. Sometimes that produces results and sometimes it doesn’t, as with Kim Jong-un. But it’s given him – and us – a shot. 

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President Donald Trump described his White House negotiations with Ukrainian President Volodymyr Zelenskyy and European leaders as ‘a very good, early step’ toward ending the nearly four-year-old Russia-Ukraine war, announcing that he has already spoken with Russian President Vladimir Putin about arranging a direct meeting with Zelenskyy.

Trump said the group of world leaders held discussions on security guarantees for Ukraine, with commitments coming primarily from European nations ‘in coordination with the United States’ in a statement on Truth Social after the meetings.

‘Everyone is very happy about the possibility of PEACE for Russia/Ukraine,’ Trump said, adding that Vice President JD Vance, Secretary of State Marco Rubio, and special envoy Steve Witkoff are now leading follow-up talks with Moscow and Kyiv.

Zelenskyy signaled he too was ready to meet directly with Putin. 

A Kremlin readout of the Trump-Putin call confirmed the pair ‘discussed the idea of raising the level of direct Russian-Ukrainian negotiations,’ but did not say whether Putin had agreed. 

Trump outlines next steps

Trump revealed that following the Oval Office meetings he phoned Putin to begin making ‘arrangements for a meeting, at a location to be determined, between President Putin and President Zelenskyy.’ If that takes place, he said, the next stage would be a ‘Trilat’ — a trilateral meeting involving himself, Putin, and Zelenskyy.

Zelenskyy said he would be open to a meeting with Trump and Putin or a meeting with just Putin next. 

‘We confirmed that we are ready for a trilateral meeting,’ the Ukrainian president told reporters after the meeting. ‘And if Russia proposed to the President of the United States bilateral, and then we will see the result of the bilateral, then it can be trilateral. So I said, always, Ukraine will never stop on the way to peace, and we are ready for any kind of format but on the level of leaders.’

While Trump has previously cast himself as a mediator rather than a dealmaker, the suggestion that Putin is open to meeting face-to-face with Zelenskyy marked the biggest breakthrough in peace negotiations yet. ‘Again, this was a very good, early step for a war that has been going on for almost four years,’ he said.

Security guarantees under discussion

The idea of ‘security guarantees’ has long been central to Ukraine’s demands. According to Trump, these would be provided primarily by European states, coordinated with Washington. Ahead of the meetings, Trump had not ruled out U.S. military involvement in the guarantees, but he has since stressed that Europe will bear the primary burden of defending Ukraine.

Trump also reiterated his view that U.S. support should come through arms sales rather than aid packages. ‘We’re not giving anything. We’re selling weapons,’ he said earlier this week. Ukraine has reportedly floated a proposal to buy as much as $100 billion in U.S.-made weapons with European financing, according to the Financial Times. 

Land swaps may be on the table 

During the meeting, Trump and Zelenskyy were pictured viewing a map outlining the front lines of the war and the Ukrainian territory currently occupied by Russia, about 20% of the country. Trump may have used the map to discuss with Zelenskyy which regions he could realistically part with in order to obtain peace. 

According to a source familiar with Zelenskyy’s visit planning, clarity on U.S. and European security guarantees could help the Ukrainian leader make the case domestically for any territorial concessions — a likely core element of talks with Russia. The question of which areas Ukraine could ‘let go’ and which it must retain remains deeply sensitive in Kyiv, where public opinion has hardened after years of fighting and heavy civilian losses.

Russia’s categorical rejection

Moscow strongly opposed the concept of NATO-style guarantees. The Russian foreign ministry released a statement during the White House talks warning that any arrangement involving NATO countries could trigger ‘uncontrolled escalation’ with ‘unpredictable consequences,’ according to state media outlet RIA. That categorical rejection underscores the difficulty of bridging the gap between Ukraine’s security needs and Russia’s demands.

European leaders weigh in

German Chancellor Merz stressed that no meaningful talks could occur without at least a temporary ceasefire.

‘I can’t imagine that the next meeting would take place without a ceasefire,’ Merz said. ‘So let’s work on that and put pressure on Russia, because the credibility of these efforts depends on at least a ceasefire.’

Fox News’ Jacqui Heinrich contributed to this report. 

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Supported by growing permanent magnet demand in 2024, the rare earths market started 2025 on an uptrend.

Concerns about supply chain stability quickly added to market sentiment as China and US trade tensions targeted the rare earth sector early in the year.

Through Q1 mounting geopolitical uncertainty related to Ukraine and Russia and Trump’s tariffs added volatility and sparked concerns that China would tighten controls over the sector.

As the year unfolded domestic supply chain growth became a primary focus for the US, adding support to several US-based mining companies.

In response to ever-changing tariffs levied by President Trump, in early April China flexed its grip on the rare earth market with Announcement 18, a sweeping export control measure from the Ministry of Commerce and General Administration of Customs.

The policy, framed as a national security and nonproliferation safeguard, requires exporters to obtain licenses for a slate of medium and heavy rare earths—including samarium, gadolinium, terbium, dysprosium, lutetium, scandium and yttrium—along with their oxides, alloys and compounds.

Additionally the export of permanent magnet and rare earth technology faced similar safeguards.

The move added a fresh layer of regulatory complexity for global supply chains reliant on these critical materials for high-performance magnets, electronics, defense, clean energy and advanced manufacturing.

Countering the new restrictions, President Trump issued an Executive Order to examine the security of the critical mineral supply chain into the US, with a focus on rare earths.

“President Trump recognizes that an overreliance on foreign critical minerals and their derivative products could jeopardize US defense capabilities, infrastructure development, and technological innovation,” noted the White House statement.

China eases restrictions

By June the global auto sector was feeling the pressure of China’s new restrictions.

“With a deeply intertwined global supply chain, China’s export restrictions are already shutting down production in Europe’s supplier sector,” said Benjamin Krieger, Secretary General of the European Association of Automotive Suppliers (CLEPA).

“We urgently call on both the EU and Chinese authorities to engage in a constructive dialogue to ensure the licensing process is transparent, proportionate, and aligned with international norms,” he added.

Used in both electric and internal combustion engine vehicles, CLEPA went on to warn of more auto sector shutdowns if the situation was not rectified.

To quell growing anxieties around supply security in the auto industry, trade discussions between Chinese Minister of Commerce Wang Wentao and EU Trade Commissioner Maroš Šefčovič, were held in Paris.

The meeting resulted in China introducing a “green channel” to speed up export licenses for rare earths, particularly benefiting select European Union firms, a few days later.

The diplomatic overture also extends to US automakers, through export licenses granted to rare earth suppliers serving major American auto players like General Motors (NYSE:GM), Ford Motor (NASDAQ:F) and Stellantis (NYSE:STLA).

US lasers in on mined supply growth

China has long controlled the vast majority of the rare earth market, overseeing 69 percent of annual mine production, 85 percent of refining and processing capacity and 90 percent of magnet manufacturing.

Likely spurred on by China’s long standing control of the rare earth market through mining, refinement and production the US has amped up its support of a domestic rare earth supply, through investment in mining companies and permit streamlining.

Most notably was the US$400 million in funding from the Department of Defense for MP Materials (NYSE:MP) operators of the Mountain Pass mine in California, the country’s only rare earth mine.

The DoD investment announced in July, will fund the expansion of MP’s processing capabilities at the Mountain Pass site and support the construction of a second magnet manufacturing facility in the US. In turn the DoD will have a domestic source and supply of permanent magnets for defense applications.

“Rare earth magnets are one of the most strategically important components in advanced technology systems spanning defense and commercial applications. Yet today, the US relies almost entirely on foreign sources,” the MP statement read. “This strategic partnership builds on MP Materials’ operational foundation to catalyze domestic production, strengthen industrial resilience, and secure critical supply chains for high-growth industries and future dual use applications.”

A few days later the public sector also showed support, when Apple (NASDAQ:AAPL) penned a US$500 million deal with MP to produce rare earth magnets in the US using 100 percent recycled materials.

Starting in 2027, MP will supply magnets for “hundreds of millions” of Apple devices, advancing the tech giant’s push for sustainable, domestic supply chains.

Apple CEO Tim Cook called the partnership a step toward securing vital materials for advanced technology while bolstering US innovation.

Internationally, Lynas Rare Earths (ASX:LYC,OTC Pink:LYSDY) achieved a significant sector milestone in May by producing on-spec dysprosium oxide at its Malaysian facility, marking the first commercial heavy rare earths output outside China.

CEO Amanda Lacaze said the development strengthens supply chain resilience, giving customers in Japan, the US and Europe an alternative source for critical materials and positioning Lynas as the world’s only producer of separated heavy rare earth products beyond China’s borders.

These moves were applauded by industry watchers as concrete steps in reducing reliance on Chinese supply, however some argue they don’t go far enough.

Mid and downstream build out

During a keynote presentation at the 2025 Rule Symposium in Boca Raton, Nomi Prins, economist, author and former Wall Street executive described what she calls the “real asset uprising,” a global shift in value and power driven by hard assets like precious metals, energy metals and rare earths.

“The entire US defense system runs on China’s processing of rare earths, and that is one of the reasons why there is a current 232, investigation into the importance of critical minerals, and particularly those 17 rare earths, because this is an issue you don’t want, even in peacetime,” she said.

“You’re basically relying on China, another country, to define what you need to run your defense, also what you need to run the growing energy requirements.

Listen to Prins discuss the real asset uprising, as well as the precious metals market.

While Prins advocates for expansion of the entire supply chain, Mountain Partners’ Chris Berry, sees strategic investment in refining, processing and manufacturing as the most prolific way to expand North American supply.

“If the US government was going to fund something in the magnet supply chain, I would argue it’s either magnet process or magnet building capacity, or, more importantly, rare earth separation capacity,” he added.

Not only would the move reduce US dependence on China for rare earth magnets, Berry noted that getting refinement and processing facilities built is a much faster process than permitting mines.

“If we’re talking about building a mine, it could take 10 to 15 years — sometimes more, depending on the situation,” he said. “Refining capacity is different. From finding a site and securing permits to raising capital and building the facility, you could be looking at five years, maybe less, though it depends on the material — whether it’s rare earths, nickel or something else.”

Berry argued that boosting refining capacity is key to reducing reliance on China.

“You strike deals with raw material producers, maybe they’re Canadian, Australian, Chilean, or even from parts of Africa. The point is, refining gets you to a usable product much faster,” he explained.

Berry continued: “Ask a battery manufacturer what they can do with spodumene or raw nickel — the answer is, not much. But give them battery-quality material, and they can trial it and integrate it into their supply chain. It’s a much more realistic approach.”

Global collaboration only way to compete with China

While a concerted effort like Berry described is key to quickly building out and fortifying a North American supply chain, tariff tensions with many countries around the globe hasn’t fostered much allyship for the US.

However, as Berry and Gracelin Baskaran, director of the Critical Minerals Security Program at the Center for Strategic and International Studies argue, the US can’t do it alone.

“If countries continue to operate independently instead of collectively, China will retain its dominant position because no single nation has enough market leverage on its own,” Baskaran wrote in a June overview.

Raising the warning bells of an impending crisis, the report went on to note.

“Prices for neodymium-praseodymium oxide—the principal rare earth component in neodymium-iron-boron magnets—have fallen below US$60 per kilogram. If prices stay below US$60 per kilogram through 2030, approximately half of the projected supply originating outside of China is expected to become economically unviable. In fact, at this price point, only eight rare earth projects beyond China are expected to break even on direct production costs.”

According to Baskaran, China’s use of export controls has heightened the urgency of building critical mineral supply chains with allied nations.

However, she believes this won’t happen without market intervention, as China continues to flood the market.

While US tariffs on Chinese imports are one option, their impact would be limited—the US accounts for just 1.7 percent of rare earths consumption, along with similarly small shares of other key minerals.

Any price-shaping strategy would require coordination with major consuming nations such as Australia, Canada, Japan, South Korea, the UK and the EU.

Market bifurcation

According to an August report from Benchmark Source, China’s newly imposed export restrictions on heavy rare earth oxides (HREOs) have created a pronounced regional price split.

While domestic Chinese prices remain relatively stable, markets outside China are seeing significant surges, driven by increased demand for ex-China supply.

This divergence underscores how export controls can distort global price dynamics, propelling up costs where alternatives are scarce while leaving domestic markets largely shielded.

Light rare earths were also pushed higher by the broad market tailwinds.

The rest of the year could see more upward momentum in light of China “quietly” issuing its first rare earth mining and smelting quotas of the year in July.

“This low-key approach is part of China’s continued efforts to tightly control its rare earths supply chain,” the Benchmark report read. “It is likely that the impacts of this quota will further contribute to a bullish market sentiment over the next few months.”

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

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Danielle DiMartino Booth breaks down the latest US consumer and producer price index data, saying it’s important for investors to pay close attention to the American consumer.

The CEO and chief strategist at QI Research also discusses dissent at the US Federal Reserve, and how many times the central bank may cut interest rates in 2025.

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

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Cobalt prices remained elevated through Q2 2025, holding strong after a sharp early-year rally triggered by the Democratic Republic of Congo’s (DRC) export ban on cobalt hydroxide.

Announced in February, the restriction quickly pushed standard-grade cobalt metal up 45 percent month-over-month to US$15.75 per pound, while cobalt sulfate prices spiked by 74 percent.

Prices held steady between US$15 and US$16 per pound through Q2, even as imports into China surged in April, fueled by material from Indonesia.

Yet, as Fastmarkets analyst Olivier Masson noted during the Lithium and Battery Raw Materials Conference in June, Indonesian output won’t be enough to offset the shortfall from the DRC, which extended its export ban into September.

After years of supply growth, with global mine output more than doubling since 2020, the second half of 2025 is expected to bring a slowdown, potentially tightening the market and supporting prices.

These tough market conditions in recent years have been reflected in the performance of cobalt-focused exploration and mining companies. However, cobalt is largely produced as a by-product of nickel and copper mining, and a number of polymetallic stocks that offer exposure to cobalt have been able to make gains in the current market.

Below, we look at the five top cobalt stocks on the TSX and TSXV by share price performance this year, including their operations and activities this year.

All year-to-date and share price information was obtained on August 12, 2025, using TradingView’s stock screener. Companies with market caps above C$10 million at that time were considered.

1. Talon Metals (TSX:TLO)

Year-to-date gain: 394.12 percent
Market cap: C$380.31 million
Share price: C$0.42

Talon Metals is a base metals company advancing the Tamarack nickel-copper-cobalt project in Central Minnesota, US, through a joint venture with Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO). Talon currently holds a 51 percent stake in the project and can earn up to 60 percent.

In late March, Talon Metals announced a massive sulfide discovery at its Tamarack project, with an intercept measuring 8.25 meters containing 95 percent sulfide content located deeper than the current Tamarack resource.

A further massive sulfide discovery in May drove the company’s share price up significantly. The intercept was the thickest discovered at the site yet, measuring a total of 34.9 meters within a 47.33 meter interval starting at 762 meters depth. On June 5, Talon reported record assays from the intercept, with average grades of 57.76 percent copper equivalent or 28.88 percent nickel equivalent.

In mid-June, Talon closed a combined C$41 million in financing to advance work at Tamarack.

Shares of Talon rallied to a year-to-date high of C$0.41 on August 6 alongside results from a third hole at the discovery, which the company has named the Vault zone. It is now targeting the zone with two drill rigs.

Outside of Tamarack, Talon secured a site in North Dakota, US, for its planned Beulah minerals processing facility on May 28. The location is owned by Westmoreland Mining and previously hosted coal-mining operations. The facility will serve as a key hub for domestic processing of nickel and other critical minerals in the US. The company currently plans to begin construction in 2027.

2. Leading Edge Materials (TSXV:LEM)

Year-to-date gain: 77.78 percent
Market cap: C$37.15 million
Share price: C$0.16

Leading Edge Materials is developing a portfolio of critical materials projects in the European Union to supply materials for advanced technologies such as lithium-ion batteries and permanent magnets for EVs and wind power generation.

The company’s projects include its wholly owned Woxna graphite mine, the Norra Kärr heavy rare earth elements project in Sweden and the 51 percent owned Bihor Sud nickel-cobalt exploration alliance in Romania.

After starting the year at C$0.09, shares of Leading Edge Materials spiked dramatically in late February and stayed elevated through much of March, reaching a year-to-date high of C$0.30 on March 24.

The day before its peak, the company announced it is moving forward with its rapid development plan at the Norra Kärr project, aiming to fast-track production of heavy rare earth element concentrate and nepheline syenite.

The day after, however, shares fell when Leading Edge reported that Norra Kärr was not selected for the first list of strategic projects under the EU’s Critical Raw Materials Act. Leading Edge plans to reapply when a new call for applications is announced, and stated it has made significant progress since its previous application in August 2024.

As for Leading Edge’s cobalt asset, the Bihor Sud nickel-cobalt project is a brownfield early-stage exploration project at which field work has identified strong potential for the discovery of a significant polymetallic deposit. The company says its goal at the project is ‘to define a large-scale, mineable mineral resource.’

According to its June 2025 presentation, exploration work planned for 2025 at Bihor Sud’s G2 gallery includes mapping and sampling of cobalt-nickel and zinc-lead-silver mineralized zones detected visually and by hand-held XRF. Drilling targeting polymetallic mineralization at the gallery is underway.

On the financial side, Leading Edge announced a C$400,000 non-brokered private placement in June.

3. Wheaton Precious Metals (TSX:WPM)

Year-to-date gain: 61.01 percent
Market cap: C$60.97 billion
Share price: C$132.82

Wheaton Precious Metals is one of the largest gold and silver royalty and streaming companies. It has investments in 18 operating mines and 28 development projects across four continents, including a cobalt streaming agreement for Vale’s (NYSE:VALE) Voisey’s Bay nickel mine in Newfoundland and Labrador, Canada.

The company reported its Q1 2025 financial results on May 8. The report highlighted a record US$470 million in revenue, US$254 million in net earnings and US$361 million in operating cash flow.

The cobalt segment registered year-over-year attributable production gains, rising to 540,000 pounds in Q1 2025, compared to 240,000 pounds during Q1 2024. Despite the output increase, sales from the same reporting fell to 265,000 pounds from 309,000 pounds in 2024.

According to Wheaton’s Q1 report, Voisey’s Bay is currently in a transitional phase, shifting from the depleted Ovoid open-pit to full underground production. Voisey’s Bay’s underground operations are ramping up, with full ramp-up anticipated for H2 2026.

Shares in Wheaton hit a year-to-date high of C$138.56 on August 7 coinciding with the company’s Q2 results.

4. FPX Nickel (TSXV:FPX)

Year-to-date gain: 10.64 percent
Market cap: C$80.28 million
Share price: C$0.26

FPX Nickel is currently advancing its Decar nickel district in British Columbia, Canada. The property comprises four key targets, with the Baptiste deposit being the primary focus, alongside the Van target. The company also has three other nickel projects in BC and one in the Yukon, Canada.

On February 24, FPX released results from a positive scoping study for the development of a refinery that would refine awaruite concentrate from the Baptiste deposit into battery-grade nickel sulfate and by-products of cobalt carbonate, copper and ammonium sulfate. Annual production was anticipated at 32,000 metric tons (MT) of contained nickel and 570 MT of contained cobalt.

The results showed that the process resulted in operating costs and all-in production costs near the bottom of nickel sulfate cost curves, in part due to the by-product credits. Additionally, the carbon intensity of the awaruite refinery is significantly lower than that of currently used production methods. FPX formally published the study at the end of March.

Shares of FPX reached a year-to-date high of C$0.28 on March 7.

In June, the company successfully produced a larger run of battery-grade nickel sulfate crystals from Baptiste awaruite concentrate using the same process as the scoping study. FPX plans to share the samples with potential downstream partners, including battery and EV manufacturers.

On July 7, FPX announced it received a multi-year area-based permit from the BC government, a crucial step in the renewal of drilling and exploration activities at the Baptiste project. The company stated it has commenced drilling, with targets supporting its feasibility study and the start of its environmental assessment process.

5. Nickel 28 Capital (TSXV:NKL)

Year-to-date gain: 2.82 percent
Market cap: C$59.84 million
Share price: C$0.73

Nickel 28 Capital is a battery metals company with an 8.56 percent interest in the producing Ramu nickel-cobalt mine in Papua New Guinea. It also holds a portfolio of 10 nickel and cobalt royalties on development and exploration projects across Canada, Australia and Papua New Guinea.

Shares of Nickel 28 registered a year-to-date high of C$0.86 on January 20 and again on February 6.

On February 3, the company released its Q4 and full year 2024 results, reporting lower production year-over-year due to a planned plant shutdown in September and October.

According to the data, total cobalt production at the Ramu operation fell year-over-year in 2024, with output reaching 549 MT in Q4 and 2,625 MT for the full year, down from 706 MT and 3,072 MT respectively in 2023.

Sales also declined, totaling 488 MT in Q4 and 2,793 MT for the year, compared to 755 MT and 3,086 MT in the prior year. Average cobalt prices were also down during the period, dropping 34 percent year-over-year in Q4 to US$9.95 per pound and finishing 2024 at an annual average of US$11.26 per pound, a 29 percent decrease from 2023.

The Ramu operation also experienced a short-term production setback following a mechanical failure in one of the acid plant’s blowers in December. On February 20, Nickel 28 announced that repairs were complete and the plant was back at full capacity.

On August 11, Nickel 28 released its Q2 2025 results, noting Ramu delivered stronger cobalt output with record weekly production rates at the beginning of the quarter. The operation produced 787 MT of contained cobalt in Q2, up from 675 MT a year earlier.

Cobalt sales also rose, totaling 719 MT compared to 684 MT in the same period of 2024. While average cobalt prices climbed 18 percent year-on-year to US$15.23 per pound, nickel prices slipped 18 percent to US$6.88 per pound, though lower production costs helped offset the weaker nickel market.

FAQs for cobalt

What is cobalt?

Cobalt is a silver-gray metal that is often produced as a by-product of nickel and copper mining. It does not occur as a separate metal anywhere in the world, and must be produced by reductive smelting, or from the metallic ore cobaltite, which is made of cobalt, sulfur and arsenic.

What is cobalt used for?

Historically, cobalt oxides were used to impart a blue pigment to glass, porcelain and paints, hence the still-used cobalt blue paint. The metal is also used to produce superalloys, as cobalt imparts qualities such as corrosion and wear resistance, which are useful in applications such as airplanes, orthopedics and prosthetics.

Today cobalt is most famously used in the rechargeable lithium-ion batteries that run everything from smartphones to EVs.

Where is cobalt mined?

The majority of cobalt production comes out of the DRC, which was responsible for producing 220,000 metric tons of the material in 2024. For perspective, the second largest cobalt-producing country, Indonesia, reported output of 28,000 MT the same year; third place Russia produced 8,700 MT of the material.

As the lithium-ion battery and EV supply chains garner global attention, companies are trying to limit their exposure to cobalt produced from the DRC, which is known for human rights abuses and sometimes child labor in its mining industry.

In response to this trend, many countries with cobalt are attempting to create domestic cobalt and EV supply chains in the hope of attracting companies looking to avoid DRC-sourced cobalt. This can be seen in the up-and-coming battery corridor in Ontario, Canada, as well as in the US-based Idaho cobalt belt.

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

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Allied Critical Metals Inc. (CSE: ACM,OTC:ACMIF) (OTCQB: ACMIF) (FSE: 0VJ0) (‘Allied’ or the ‘Company’) is pleased to announce that further to its press releases of July 28, 2024 and August 14, 2025, the Company has closed the second and final tranche (the ‘Final Tranche’) of its non-brokered private placement offering (the ‘Offering’) by issuing 2,016,800 units of the Company (the ‘Units’ and, each, a ‘Unit’) at a price of $0.30 per Unit raising gross proceeds $605,040. The Company raised aggregate gross proceeds of $5,104,135.80 pursuant to the Offering by issuing an aggregate of 17,013,786 Units.

Each Unit is comprised of one common share of the Company (a ‘Share‘) and one-half of one common share purchase warrant (each whole common share purchase warrant, a ‘Warrant‘). Each Warrant entitles the holder thereof to acquire one additional Share (each a ‘Warrant Share‘) at a price of $0.40 per Warrant Share and is exercisable for a period of 24 months from the date of issuance.

The Company intends to use the net proceeds of the Offering for ongoing exploration and development activities on the Borralha Tungsten Project and Vila Verde Tungsten Project and for additional working capital.

All Units and securities of the Company issued pursuant to the Offering are subject to a four month hold period from the date of issuance. The Offering did not result in the creation of a new insider or control person of the Company.

The Company paid finder’s fees of $11,411.40 in cash and 9,338 Finders Warrants (as defined below) in connection with the Final Tranche of the Offering to eligible finders in accordance with policies of the Canadian Securities Exchange (the ‘CSE‘) and applicable securities laws, comprised of (i) a cash commission of up to 7% of the gross proceeds of the First Tranche, and (ii) a number of finders warrants (‘Finders Warrants‘), equal to 7% of the number of Units issued under the Offering with each Finders Warrant exercisable for one additional Unit of the Company for a period of 24 months at $0.30 per Unit from the date of issuance.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the 1933 Act or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and applicable state securities laws.

About Allied Critical Metals Inc.

Allied Critical Metals Inc. (CSE: ACM,OTC:ACMIF) (OTCQB: ACMIF) (FSE: 0VJ0) is a Canadian-based mining company focused on the expansion and revitalization of its 100% owned past producing Borralha Tungsten Project and the Vila Verde Tungsten Project in northern Portugal. Tungsten has been designated a critical metal by the United States and other western countries, as they are aggressively seeking friendly sources of this unique metal. Currently, China, Russia and North Korea represent approximately 86% of the total global supply and reserves. The tungsten market is estimated to be valued at approximately USD $5 to $6 billion and it is used in a variety of industries such as defense, automotive, manufacturing, electronics, and energy.

Please visit our website at www.alliedcritical.com.

Also visit us at:

LinkedIn: https://www.linkedin.com/company/allied-critical-metals-inc
X: https://x.com/@alliedcritical/
Instagram: https://www.instagram.com/alliedcriticalmetals/

ON BEHALF OF THE BOARD OF DIRECTORS

Per: ‘Roy Bonnell’

Roy Bonnell
Chief Executive Officer and Director

Contact Information

For further information or investor relations inquiries, please contact:
Dave Burwell, Vice President, Corporate Development
Tel: 403 410 7907 | Toll Free: 1-888-221-0915
Email: daveb@alliedcritical.com

The Canadian Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

This news release contains ‘forward-looking statements’, including with respect to the use of proceeds. Wherever possible, words such as ‘may’, ‘would’, ‘could’, ‘should’, ‘will’, ‘anticipate’, ‘believe’, ‘plan’, ‘expect’, ‘intend’, ‘estimate’, ‘potential for’ and similar expressions have been used to identify these forward-looking statements. These forward-looking statements reflect the current expectations of the Company’s management for future growth, results of operations, performance and business prospects and opportunities and involve significant known and unknown risks, uncertainties and assumptions, including, without limitation, those listed in the Company’s Listing Statement and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed under the Company’s profile at www.sedarplus.ca). Examples of forward-looking statements in this news release include, but are not limited to, statements regarding the proposed timeline and use of proceeds for exploration and development of the Company’s mineral projects as described in the Company’s Listing Statement, news releases, and corporate presentations. Should one or more of these risks or uncertainties materialize or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements and reference should also be made to the Company’s Listing Statement dated April 23, 2025 and news release dated May 16, 2025, and the documents incorporated by reference therein, filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors. The Company disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise, except as required by law.

Not for distribution to U.S. news wire services or dissemination in the United States

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/263013

News Provided by Newsfile via QuoteMedia

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Focused on unlocking West Africa’s untapped mineral potential, Kobo Resources (TSXV:KRI) is advancing its flagship Kossou Gold Project in Côte d’Ivoire. Strategically located next to Perseus Mining’s (TSX:PRU) producing Yaouré Gold Mine, Kossou benefits from access to infrastructure, skilled local labor, and strong logistical advantages.

Kobo’s value proposition rests on a seasoned leadership team and backing from strategic partner Luso Global Mining, part of engineering giant Mota-Engil. Beyond capital, this partnership provides access to world-class mining expertise. With a phased exploration strategy, Kobo is advancing near-term catalysts—including updated technical reports, metallurgical studies, and a 2025 drill campaign aimed at delivering a maiden resource in 2026.

Aerial view of the Kossou gold project in proximity to nearby infrastructure and operators

The Kossou Gold Project (KGP) is Kobo Resources’ flagship asset in Côte d’Ivoire, located 40 km from Yamoussoukro and adjacent to Perseus Mining’s producing Yaouré Gold Mine. Covering 110 sq. km within the prolific Birimian greenstone belt, Kossou benefits from excellent infrastructure, logistical advantages, and strong exploration potential in one of West Africa’s fastest-growing mining jurisdictions.

Company Highlights

  • Mining-friendly and Underexplored Location – Côte d’Ivoire’s gold production has grown significantly but still trails neighboring countries.
  • Prime Location with Infrastructure Advantage – The Kossou Gold Project (KGP) is 40 km from Yamoussoukro and 9.5 km from a major operating gold mine.
  • Proven Gold Discoveries with Strike Continuity – 24,471 m drilled at KGP with multiple mineralized zones that remain open along strike and depth.
  • Promising Secondary Project – Kotobi gold project offers early-stage exploration upside in a highly prospective greenstone belt.
  • Aggressive Growth and Near-term Milestones – +/- 20,000 m 2025 drill program targeting priority zones and advancing toward a potential MRE in 2026 with a strong project pipeline.
  • Strong Team and Strategic Backing – Decades of exploration success combined with a strategic partnership with Luso Global Mining (Mota-Engil).

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