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Glencore (LSE:GLEN,OTC Pink:GLCNF) is reportedly set to take a major position in the Hong Kong initial public offering (IPO) of Chuangxin Industries Holdings as aluminum prices climb to multi-year highs.

According to a Bloomberg report, people familiar with the matter said Glencore will participate as a cornerstone investor in the offering, alongside Hillhouse Investment Management and China Hongqiao Group, the country’s largest private aluminum producer.

Together, the three firms and other cornerstone participants could take up roughly half of the US$700 million deal, according to the sources, who asked not to be identified as the information remains private.

Aluminum prices on the London Metal Exchange (LME) hit a three-year high of US$2,900 per metric ton last week, buoyed by tight supply and a government-imposed ceiling on new smelting capacity.

Those restrictions have helped sustain profitability among China’s smelters, which account for about half of global primary aluminum output.

Chuangxin, based in Inner Mongolia, plans to begin taking investor orders as soon as Friday for its Hong Kong debut, according to the same sources.

The company’s business centers on the production of primary aluminum and alumina, the key raw material for smelting. Its largest customer is Innovation New Material Technology, a Shanghai-listed firm led by Chuangxin chairman Cui Lixin, according to the company’s Hong Kong exchange filing.

If completed, the IPO would be one of the largest metals-related listings in Hong Kong this year. Total proceeds from Hong Kong listings are on track to hit a four-year high in 2025, potentially topping US$40 billion.

The rebound follows a long period of muted activity, though analysts note that several high-profile debuts have underperformed recently.

As one of the world’s largest traders of base metals, the company has been ramping up its participation in key supply chains tied to electrification and renewable infrastructure.

Aluminum, valued for its light weight and conductivity, plays a central role in the shift toward low-carbon technologies.

Representatives for Glencore and China Hongqiao declined to comment on the matter. Hillhouse did not immediately respond to a request for comment, while Chuangxin could not be reached.

The people familiar with the deal cautioned that final terms and investment allocations could still change as discussions continue.

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

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Perth, Australia (ABN Newswire) – Locksley Resources Ltd (ASX:LKY,OTC:LKYRF) (FRA:X5L) (OTCMKTS:LKYRF) announced the appointment of Mr Ian Stockton as Non-Executive Technical Director with effect from immediately following the AGM on 28 November 2025.

Mr Stockton is a highly credentialed geologist and mining executive with over 35 years of experience in resource development, operations, and technical advisory roles across global markets. He has held senior technical and leadership roles with major industry groups, providing crucial strategic advice to explorers and producers in both the base and critical mineral sectors.

Mr Stockton’s technical expertise is deeply integrated into the full project life cycle. He possesses strength in mine development, resource optimisation, and technical regulatory compliance, having successfully managed multi-disciplinary technical teams and overseen major study programs, including several projects that have successfully transitioned from concept to full production. His practical grounding in geological assessment will be immediately deployed to de-risk and advance Locksley’s assets.

Crucially, Mr Stockton brings direct and invaluable experience with antimony resources, the core focus of Locksley’s U.S. strategy. His background includes involvement in the exploration and development of the significant Costerfield gold-antimony deposit in Victoria, Australia, where he helped bring the Brunswick open pit deposit into production in the late 1990s. Furthermore, he has maintained exposure to major global antimony projects through reviews and confidential due diligence on key Australian antimony assets. This specialised knowledge is directly applicable to advancing our high-grade Desert Antimony Mine (DAM).

At Locksley, Mr Stockton will direct the Company’s technical execution and resource expansion strategy, supporting the advancement of the Desert Antimony Mine (DAM) in California and the broader U.S. mine-to-market critical minerals program. His appointment adds significant technical depth to the Board just as Locksley transitions from exploration to the complex phase of development, integrating upstream mining with downstream processing and advanced-materials innovation.

Pat Burke, Locksley Chairman, commented:

‘Ian brings a wealth of technical and operational experience at a pivotal time for Locksley. His practical approach to geological interpretation and project development, coupled with his strong background in industry governance, will be invaluable as we move toward production and establish a vertically integrated U.S. antimony supply chain.’

Mr Stockton holds a Bachelor of Science (Geology) from the University of Canberra and is a Fellow of the AIG (FAIG), as well as Registered Professional Geologist (RPGEO) as well as a Member of the Australasian Institute of Mining and Metallurgy (AusIMM).

The Company also advises that Mr Bevan Tarratt will resign with effect from immediately following the AGM on 28 November 2025. Mr. Tarratt will provide assistance to the Company in an executive capacity during a transition phase to ensure continuity of corporate and project functions. The Board thanks Mr Tarratt for his invaluable contribution and looks forward to his continuing involvement with the Company.

About Locksley Resources Limited:

Locksley Resources Limited (ASX:LKY,OTC:LKYRF) (FRA:X5L) (OTCMKTS:LKYRF) is an ASX listed explorer focused on critical minerals in the United States of America. The Company is actively advancing exploration across two key assets: the Mojave Project in California, targeting rare earth elements (REEs) and antimony. Locksley Resources aims to generate shareholder value through strategic exploration, discovery and development in this highly prospective mineral region.

Mojave Project

Located in the Mojave Desert, California, the Mojave Project comprises over 250 claims across two contiguous prospect areas, namely, the North Block/Northeast Block and the El Campo Prospect. The North Block directly abuts claims held by MP Materials, while El Campo lies along strike of the Mountain Pass Mine and is enveloped by MP Materials’ claims, highlighting the strong geological continuity and exploration potential of the project area.

In addition to rare earths, the Mojave Project hosts the historic ‘Desert Antimony Mine’, which last operated in 1937. Despite the United States currently having no domestic antimony production, demand for the metal remains high due to its essential role in defense systems, semiconductors, and metal alloys. With significant surface sample results, the Desert Mine prospect represents one of the highest-grade known antimony occurrences in the U.S.

Locksley’s North American position is further strengthened by rising geopolitical urgency to diversify supply chains away from China, the global leader in both REE & antimony production. With its maiden drilling program planned, the Mojave Project is uniquely positioned to align with U.S. strategic objectives around critical mineral independence and economic security.

Tottenham Project

Locksley’s Australian portfolio comprises the advanced Tottenham Copper-Gold Project in New South Wales, focused on VMS-style mineralisation

Source:
Locksley Resources Limited

Contact:
Kerrie Matthews
Chief Executive Officer
Locksley Resources Limited
T: +61 8 9481 0389
Kerrie@locksleyresources.com.au

News Provided by ABN Newswire via QuoteMedia

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Mid-tier precious metals producer Americas Gold and Silver (TSX:USA,NYSEAMERICAN:USAS) continues to grow its North American footprint with its intended acquisition of privately owned Crescent Silver.

The two companies inked a US$65 million binding purchase agreement on Thursday (November 13). It includes the past-producing, fully permitted Crescent mine in the Idaho Silver Valley.

Known as “the silver capital of the world,” the region is well known for its immense production of silver, lead and zinc, as well as significant amounts of copper and antimony.

Within this prolific mining district, the Crescent mine is sandwiched between the historic Sunshine and Bunker Hill mines and is just 9 miles from Americas’ Galena complex, an active silver, lead and copper operation.

“The mineralized material at Crescent is the same silver-copper-antimony tetrahedrite material currently processed at Galena,” notes the company’s press release.

The deal comes just one week after the US Geological Survey officially added silver to its list of critical minerals in recognition of the metal’s growing importance to American economic and national security.

Substantial infrastructure is already in place at Crescent, which has a historic 2015 preliminary economic assessment demonstrating the potential to produce 1.4 million to 1.6 million ounces of silver annually.

“Crescent has the potential to be fast tracked into our growing production profile alongside Galena, allowing us to leverage our strong operations team located in the Silver Valley,” said Americas Chair and CEO Paul Andre Huet.

Management believes the company can begin adding feed from Crescent to the Galena mill and generating cashflow from these activities as early as mid-2026. Americas’ team sees plenty of upside on the Crescent property as less than 5 percent of the landholding has been explored, with only two veins delineated for production. In 2026, the company plans to launch a US$3.5 million drill program to test multiple targets both at surface and underground.

The Crescent acquisition includes US$20 million in cash alongside approximately 11.1 million common shares of an equity position in Americas valued at approximately US$45 million.

To cover the cost of the purchase, Americas initially announced it would be conducting a concurrent US$65 million bought-deal private placement via an agreement with Canaccord Genuity and BMO Capital Markets.

Shortly after that news, the company said it was increasing that private placement to US$115 million on strong investor interest. Eric Sprott, Americas’ largest shareholder, will participate in the financing.

“The addition of the Crescent Mine, while potentially improving the project profile of the Company, provides additional synergies only available through rational consolidation and is a transaction that leverages the strength of Paul’s strong operating team in the Silver Valley,” said Sprott, a well-known financier in the mining industry.

Earlier in the week, Americas Gold & Silver published its financial and operational results for Q3. Its consolidated silver production was up 98 percent year-on-year and 11 percent quarter-on-quarter, while its consolidated revenue, including by-product revenue, jumped by 37 percent compared to the same quarter last year to US$30.6 million.

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

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As its record-setting year continues, gold is on its way to posting its strongest annual performance since 1979, up an impressive 58 percent year-to-date as of Wednesday (November 12).

The yellow metal once again broke past US$4,200 per ounce this week, moving closer to its all-time high of US$4,379.13, reached on October 17. Silver is up 80 percent year-to-date and also on track for its best year ever.

The silver spot price rose on Thursday (November 13) morning to just a few cents shy of its record price of US$54.47 per ounce. Silver futures hit a new record high of US$54.415 per ounce in early morning trading.

Gold rallied this week even amid news that the longest US government shutdown in history was coming to an end — typically the sort of development that would lessen demand for safe-haven assets. Yet continued labor market weakness in the US is priming expectations of further Federal Reserve interest rate cuts in December.

Ipek Ozkardeskaya, senior analyst at Swissquote Bank, explained that gold is gaining on investor sentiment.

What does it mean to say that gold is acting like a meme stock? Basically, it implies that the gold market is displaying unusual trading dynamics with investment demand at times seemingly more momentum-driven than data-driven.

Gold and silver’s surge may be reflective of the good precious metals vibes investors are now feeling. Social media is buzzing with posts like “GOLD to $5,000!” and trending hashtags like #GoldRush2025 and #SilverSqueeze2.

Gold exchange-traded funds in particular are very popular with retail investors. Sherwood News reported on Tuesday (November 11) that daily call volumes for the SPDR Gold Trust (ARCA:GLD), which is backed by physical gold, had outstripped 1 million by 1:10 p.m. EST, ‘roughly triple their 334,000 average over the last 10 full sessions.’

While the speed and size of the price gains in gold and silver point to a highly sentiment-driven acceleration, this momentum doesn’t discount the strong fundamentals for gold and silver.

Yes, we’re likely to see price pullbacks, but the overall upward momentum is still supported by macro forces such as economic uncertainty, Fed independence concerns, geopolitical risks and in the case of silver, supply worries.

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

This post appeared first on investingnews.com

House GOP leaders are looking to kick off next week in high gear to make up for the six weeks they spent out of session during the government shutdown.

With the end of Congress’ 42-day fiscal standoff in sight, House Majority Leader Steve Scalise, R-La., told Fox News Digital that House lawmakers will be faced with an accelerated schedule to accomplish the GOP’s priorities for this term.

I wanted to rework the schedule to create more time to make up for what happened during the shutdown, and the fact that there were a lot of bills that stacked up that we planned to bring to the floor in October that weren’t able to go,’ he said in an interview on Tuesday night.

Priorities for next week include legislation to help reduce federal restrictions on liquefied natural gas (LNG), and a bill aimed at expanding refining capacity in a bid to reduce soaring energy costs.

Measures aimed at D.C. are also expected to see votes, including a bill that D.C.’s pretrial release and detention processes require mandatory pretrial detention for defendants charged with violent crimes. 

Another bill expected to get a vote next week would undo local ordinances that Republicans say place burdensome barriers on the Metropolitan Police Department.

A largely symbolic measure to denounce socialism in the U.S. is also on next week’s schedule.

Lawmakers will be expected to work long into the night in a departure from their traditional day-to-day in D.C. Votes will be scheduled in the evenings when lawmakers have normally departed Capitol Hill for other events.

Scalise also noted the House would have a five-day legislative week from Monday through Friday, rather than the more traditional four days in D.C.

More time will also be allotted during the day for House committees to conduct hearings and advance their legislation, something that has not been done on Capitol Hill since Sept. 19.

‘We’re going to do that for the next few weeks until we catch up on the time that we missed when everybody was back in their districts,’ Scalise said.

The latter point is critical considering Congress will be reckoning with several key priorities in the coming months.

The bill to end the government shutdown, expected to pass the House on Wednesday, kicks the majority of fiscal year (FY) 2026 federal spending to a Jan. 30 deadline. It would also authorize funding for three of Congress’ 12 annual spending bills for FY 2026.

However, it will be an uphill battle for both the Senate and House appropriations committees to strike their remaining spending deals by then.

‘There are nine remaining bills, and we’d like to get all of those done in the next few weeks. And so, [House Appropriations Committee Chairman Tom Cole, R-Okla.] and his appropriators will be working overtime as well,’ Scalise said.

Congress also still has to find a bipartisan compromise on the federal government’s annual defense policy bill, called the National Defense Authorization Act (NDAA).

‘There have been a lot of negotiations ongoing. I think we’re getting close on the NDAA,’ Scalise said.

Scalise said Republicans would also be busy at work on a new Farm Bill, legislation that sets agricultural priorities as well as federal food policies for urban, suburban and rural areas across the country, as well as a highway bill — legislation that authorizes policy for surface infrastructure like roads, bridges and rail lines nationwide.

‘A lot of those bills have been very active in the committee process. They just haven’t gotten a lot of attention nationally during the shutdown. But the committees have been working, especially the chairman, to try to get those bills ready to move,’ he said.

‘And so we will have a lot of big ticket items that are important to our America First agenda ready to go. And that’s why we’re going to just add more floor time to be able to get all of it done by the end of this year.’

But in order to get all those ‘big-ticket items’ done, the House will first need to pass the Senate’s bipartisan bill to end the government shutdown.

Asked if his chamber had the votes to do so, Scalise said, ‘I’m very hopeful we will.’

‘I’m very confident our members are really eager to get back to a full House schedule. Many of them have been working overtime in their districts to mop up the mess Democrats created during the shutdown,’ he said.

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Former first lady Michelle Obama revealed on a recent episode of her podcast that she was left infuriated by a moment on Air Force One in 2009 when she debated whether to wear Bermuda shorts while on vacation — which ultimately led to controversy. 

‘The fact that we had to spend time thinking about that kind of stuff in ways that my husband didn’t — it was really infuriating,’ Obama said during an episode on her podcast, ‘IMO With Michelle Obama and Craig Robinson,’ which she co-hosts with her brother. ‘Then an article, a negative article, still happened.’ 

The former first lady explained that in August 2009 she and the former president were set to depart Air Force One for a hike in the Grand Canyon while on their first vacation since the inauguration earlier that year. While she fretted over what attire would be appropriate for a first lady and not draw public criticism, Barack Obama did not need to put effort into thinking about his outfit, she recounted. 

‘It was 100 degrees,’ Michelle Obama remembered of the conversation. ‘Barack — I was like, ‘Well, what are you wearing?’ He was like, ‘Well, I’m gonna throw on some sneakers, I’m gonna take my jacket off and roll my sleeves up’ because that’s what men can do. White shirt, no collar, no tie. That was how he changed.’

Michelle Obama said she debated whether to wear hiking shorts or a dress before landing on wearing Bermuda shorts. 

‘I can’t wear hiking shorts there, and I can’t wear a dress to hike,’ she said. ‘That would be crazy. People would call me ‘disconnected’ and ‘un-American.’ I’m at the Grand Canyon in a tea-length dress with flats? I was like, ‘That’s not how people go to the Grand Canyon.”

‘I eventually opted for the thing that felt mostly me,’ Michelle Obama continued. ‘And it was the Bermuda shorts. Because if we’re going on a hike, this is how a normal person would go on a hike.’

The former first lady did face backlash for the attire, as pundits at the time criticized that a first lady wearing shorts while departing Air Force One was too casual, with outlets running headlines such as, ‘Who Wears Short Shorts? Michelle Obama,’ ‘First lady’s shorts draw some long, hard looks,’ and ‘Michelle Obama: The Shorts Heard Round the World.’

Michelle Obama said in 2013 that she would not wear shorts again on Air Force One after the 2009 outfit caused ‘a huge stink.’ She explained at the time that she made the more relaxed choice because ‘we’re on vacation.’

First lady Melania Trump also has faced backlash over her wardrobe attire, including in 2017 when she wore a baseball cap and jeans to visit Texas after Hurricane Harvey that was viewed by some critics as too casual, and again in 2018 when she wore a green jacket while on a trip to visit the border that read, ‘I really don’t care. Do u?’ 

Melania Trump later told the media she wore the jacket as a message to the liberal media and other critics: ‘I want to show them that I don’t care,’ she told ABC News in 2018. 

Fox News Digital reached out to Michelle Obama’s office Tuesday for additional comment on the matter but did not immediately receive a reply. 

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In 2015, when Donald Trump was running for the Republican nomination for president, a refrain that was often heard from his supporters and mocked by his detractors was, ‘He fights.’

It seemed empty and vacuous, but in fact, it represented a few core issues that GOP voters felt their party was ignoring, or at least not prioritizing. Today, it is the Democratic base that is demanding its party ‘fight.’ But fight for what?

Trump’s core issues, and those of what would become known as MAGA, were a bit obscure at first, but eventually became very clear: Secure the border, abandon globalism and bad trade deals, and fight the culture war.

What are the issues or policies that are animating today’s fighting spirit in the Democratic Party? There are three that are dominant.

The first issue can roughly be called redistribution of wealth. We should avoid using the term socialism here, because it is vague and toxic, and what Democrats are really talking about is the very purpose of the social safety net, from welfare to food stamps.

At least nominally, the position of the Democratic Party for half a century has been that welfare programs are a hand up, not a hand out. As John F. Kenndy put it, they are the rising tide that lifts all ships.

In practice, this has led to a permanent underclass that is funded by high-earning taxpayers, but Democrats have long refused to admit it. Democrat socialists have ripped off the Band-Aid. Soaking the rich to pay for the basic needs of the poor and working man is their proud new mantra.

It turns out, the likes of New York City Mayor-elect Zohran Mamdani have Democratic voters with them on this about-face. In a recent Gallup poll, 66% of Democrats had a positive view of socialism, with only 42% saying the same about capitalism.

Former President Joe Biden used to whisper that billionaires should ‘pay their fair share.’ Today, Sen. Bernie Sanders, I-Vt., and Rep. Alexandria Ocasio-Cortez, D-N.Y., shout from the rooftops that the rich should pay way more than their ‘fair share,’ and basically subsidize everyone else.

The second major issue that the democrat socialists have locked onto is Israel, and America’s relationship with and military funding of the Jewish state, something that even a decade ago the party supported as bedrock policy.

According to a Pew survey, since 2022, the percentage of Democrats with a negative view of Israel has gone from 53% to a staggering 69%, and the lean and hungry New Democrats know it.

Rep. Ro Khana, D-Calif., who has been quietly crafting a new vision for his party, recently posted a list of issues at the core of his mission. They included ‘Medicare-for-all,’ child care for $10 a day, housing, and then, right there at the bottom, ‘No bombs to Israel.’

Meanwhile, pro-Israel Sen. John Fetterman, D-Pa., has all but admitted there is ‘no room’ in the party for those on his side of the issue. That’s not good news for the political future of moderates like Pennsylvania Gov. Josh Shapiro.

The third issue that is clearly firing up the Democratic base is immigration, and when I say they are fired up, I mean seemingly normal people leaping in front of the cars of federal authorities to keep them from deporting illegal alien criminals.

Take Mamdani’s acceptance speech in Brooklyn last week: ‘Thank you to those so often forgotten by the politics of our city, who made this movement their own. I speak of Yemeni bodega owners and Mexican abuelas,’ he said. ‘Senegalese taxi drivers and Uzbek nurses. Trinidadian line cooks and Ethiopian aunties. Yes, aunties.’

The key words here are ‘who made this movement.’

Make no mistake, this new iteration of the Democratic Party will not only seek to give amnesty to every person illegally in the United States, they will open the border again, and their voters will cheer on the invasion.

It wasn’t just establishment Republicans who underestimated Trump’s appeal in 2015, it was the whole country. What we didn’t see then was that on his big three issues, the border, globalism and the culture war, he was tapping into a real popular zeitgeist.

Today, we are at a similar point, on redistribution of wealth, Israel and immigration, the democrat socialists have found popular policies among their base, and all the Chuck Schumers in the world can’t talk them out of it.

Just as Trump took over the GOP before anyone quite knew it, the democrat socialists have found the same fighting path to dominance among Democrats, and for the few moderates left, it already looks far too late to stop it.

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The end of the longest government shutdown in U.S. history is finally in sight, with the House of Representatives set to vote on a federal funding bill later Wednesday evening.

House lawmakers are set to take a procedural vote in the 5 p.m. hour on whether to allow debate on the measure. If the legislation survives, a final vote is expected in the 7 p.m. hour.

The government has been shut down for 43 days as Democrats and Republicans hotly debated the merits of the GOP’s initial federal funding bill, a short-term extension of fiscal year (FY) 2025 spending levels through Nov. 21.

The vast majority of Democrats are still against the legislation, including House Democratic leadership, but GOP lawmakers across several ideologically diverse factions have signaled confidence in a nearly unified Republican vote.

House Freedom Caucus Policy Chairman Chip Roy, R-Texas, said he heard no dissent on the bill from his band of fiscal hawks.

‘I’m not going to speak for everybody, but I think there’s general support. So you know, I’m unaware of any opposition of significance,’ he told reporters Tuesday night.

House Appropriations Committee Chairman Tom Cole, R-Okla., said, ‘Nothing’s ever easy around here. But, look, I didn’t notice any dissent … I think the votes will be there on our side.’

But with a razor-thin majority, House GOP leaders can only afford to lose two Republican votes at most to pass the bill without relying on any Democrats.

‘I’m very hopeful,’ House Majority Leader Steve Scalise, R-La., told Fox News Digital when asked if Republicans had the votes to pass the bill. ‘I think you’re seeing just a few Democrats come to their senses. It should be a lot more.’

Meanwhile, the shutdown’s effects on the country have grown more severe by the day.

Many of the thousands of air traffic controllers and Transportation Security Administration (TSA) agents who had to work without pay were forced to take second jobs, causing nationwide flight delays and cancellations amid staffing shortages at the country’s busiest airports. Millions of Americans who rely on federal benefits were also left in limbo as funding for critical government programs ran close to drying out.

At the heart of the issue was Democratic leaders’ refusal to back any funding bill that did not also extend COVID-19 pandemic-era enhanced Obamacare subsidies that are set to expire at the end of this year. Democrats argued it was their best hope of preventing healthcare price hikes for Americans across the U.S.

Republicans agreed to hold conversations on reforming what they saw as a broken healthcare system, but they refused to pair any partisan priority with federal funding.

The initial bill passed the House on Sept. 19 but stalled in the Senate for weeks, when Democrats sank the bill more than a dozen times.

However, after weeks of stalemate and the clock running down on their Nov. 21 bill, a new compromise emerged that got support from eight Senate Democrats to carry it across the finish line.

The new legislation would extend FY 2025 federal funding levels through Jan. 30, to give negotiators more time to strike a longer-term deal for FY 2026.

It would also give lawmakers some headway with that mission, advancing legislation to fund the Department of Agriculture and the Food and Drug Administration; the Department of Veterans Affairs and military construction; and the legislative branch.

In a victory for Democrats, the deal would also reverse federal layoffs conducted by the Trump administration in October, with those workers getting paid for the time they were off.

A side deal struck in the Senate also guaranteed Senate Democrats a vote on legislation extending the enhanced Obamacare subsidies. Speaker Mike Johnson, R-La., however, has made no such promise in the House.

If passed on Wednesday night, the legislation heads to President Donald Trump’s desk for a signature.

When asked about the bill on Tuesday, a White House official told Fox News Digital, ‘President Trump has wanted the government reopened since the first day Democrats shut it down. The action in the Senate is a positive development, and we look forward to seeing it progress.’

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