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House Oversight Committee Chair James Comer, R-Ky., is investigating whether former President Joe Biden’s closest aides worked to conceal evidence of mental decline in the octogenarian Democrat during his White House term, and whether an autopen was used for executive decisions without his knowledge.

Biden himself asserted to the New York Times that he ‘made every decision’ regarding autopen pardons specifically, and his allies have dismissed the GOP-led probe as a partisan show.

Several ex-senior White House officials are due in the coming weeks, including former press secretary Karine Jean-Pierre and ex-White House chief of staff Jeff Zeints.

But Comer’s staff have also met with a number of people so far – some who have said very little, while others have given no information at all.

Below are the eight people who have sat down with House investigators so far:

Neera Tanden

Former White House staff secretary Neera Tanden appeared for a voluntary interview on June 24.

A source familiar with Tanden’s interview said she described having ‘minimal interaction’ with Biden during her sit-down with investigators.

Tanden also said she would submit requests for autopen signatures to members of Biden’s team, but was not aware of what actions or approvals occurred between the time she sent the memo and the time she received it back with the president’s approval, the source said.

Tanden’s lawyer told Fox News at the time that she ‘consistently followed a protocol’ that was used by both Republican and Democratic administrations in the past.

‘That same protocol existed in the Clinton and Obama administrations, which Ms. Tanden learned in discussions with previous staff secretaries from those administrations. She further understood and believed that the same process was followed in the Trump 1 and Bush administrations,’ the lawyer said.

Tanden had been tapped to lead the Office of Management and Budget (OMB) early in Biden’s term, but she withdrew after bipartisan pushback in the Senate.

Kevin O’Connor

Former White House physician Kevin O’Connor was the second ex-Biden administration official to appear when he came in on July 9, and the first to appear under subpoena.

Before serving as White House doctor, however, O’Connor was known to be a close associate of the Biden family for years. 

Investigators were hoping to learn whether O’Connor knowingly obscured signs of advanced aging or loss of mental acuity in Biden. He notably met with a Parkinson’s Disease expert at the White House at one point, according to the New York Times – though the revelations were downplayed by the White House at the time.

O’Connor’s lawyers had attempted to delay his scheduled deposition date over concerns that the scope of the committee’s investigation would violate doctor-patient confidentiality.

He ultimately did appear when Comer rejected his delay request, but O’Connor was in and out of the committee room in less than an hour after pleading the Fifth Amendment to all questions, save for his name.

Ashley Williams

Ashley Williams is a longtime Biden advisor who still works for the former president, according to her LinkedIn. She appeared for a voluntary transcribed interview on July 11.

The close Biden ally’s time with him goes back to assisting then-second lady Jill Biden during the Obama administration, according to a 2019 profile of Biden staffers.

She served as his trip director for the 2020 campaign before being hired to the White House as deputy director of Oval Office Operations and a special assistant to the president.

Williams repeatedly told committee staff during her sit-down that she did not ‘recall’ various things ‘an untold number of times,’ but that she believed Biden was fit to be president today, a source told Fox News Digital.

‘Examples include she could not recall if she spoke with President Biden in the last week, if teleprompters were used for Cabinet meetings, if there were discussions about President Biden using a wheelchair, if there were discussions about a cognitive test, if she discussed a mental or physical decline of President Biden, if she ever had to wake President Biden up and how she got involved with his 2020 campaign,’ the source said.

Anthony Bernal

Anthony Bernal, who was nicknamed Jill Biden’s ‘work husband’ for their close relationship, was the second person subpoenaed to appear. 

Like O’Connor, Bernal’s July 16 deposition lasted less than an hour after he pleaded the Fifth Amendment to investigators.

Bernal served as former Assistant to the President and Senior Advisor to the First Lady. He also still appears to work for the Bidens, according to LinkedIn, which says he works for Jill Biden specifically.

‘During his deposition today, Mr. Bernal pleaded the Fifth when asked if any unelected official or family members executed the duties of the President and if Joe Biden ever instructed him to lie about his health,’ Comer said in a statement after Bernal’s deposition.

Annie Tomasini

Former Special Assistant to the President and Deputy Director of Oval Office Operations Annie Tomasini had been scheduled to appear for a transcribed interview, before her counsel requested a subpoena from Comer shortly before her July 18 appearance.

Tomasini followed O’Connor and Bernal’s lead in pleading the Fifth Amendment, which people coming in voluntarily cannot do.

‘During her deposition today, Ms. Tomasini pleaded the Fifth when asked if Joe Biden, a member of his family, or anyone at the White House instructed her to lie regarding his health at any time,’ Comer said in a statement after her deposition.

‘She also pleaded the Fifth when asked if she ever advised President Biden on the handling of classified documents found in his garage, if President Biden or anyone in the White House instructed her to conceal or destroy classified material found at President Biden’s home or office, and if she ever conspired with anyone in the White House to hide information regarding the Biden family’s ‘business’ dealings.’

She first worked for Biden as a press secretary when he chaired the Senate Foreign Relations Committee as a U.S. senator from Delaware.

Ron Klain

Ron Klain served as Biden’s chief of staff for the first two years of his White House term and played a key role in preparing him for his disastrous 2024 presidential debate against former President Donald Trump.

Klain told investigators that he believed Biden’s memory got worse over time, but he still had the ability to govern, a source familiar with his interview told Fox News Digital.

The source said Klain also claimed to have heard concerns about Biden’s political viability from both former Secretary of State Hillary Clinton and Biden’s own national security advisor, Jake Sullivan, by 2024, though it’s not clear if those concerns are tied to his mental acuity nor that they spoke to Klain together.

A spokesperson for Sullivan vehemently denied the account.

Klain also told investigators that Biden appeared tired and ill before the 2024 debate, the source said.

In a letter requesting his appearance, Comer quoted Klain as cutting Biden’s debate prep short last year, ‘due to the president’s fatigue and lack of familiarity with the subject matter,’ adding that Biden ‘didn’t really understand what his argument was on inflation,’ citing a POLITICO report from earlier this year. 

Steve Ricchetti

Former counselor to the president Steve Ricchetti sat down with House investigators earlier this week on voluntary terms.

Unlike the vast majority of others before him, who did not acknowledge media gathered outside the committee room, Ricchetti told Fox News’ Chad Pergram that ‘of course’ Biden was up to the job of president.

Ricchetti’s interview was also the longest by far – running roughly eight hours on Wednesday.

A source familiar with Ricchetti’s sitdown described him as ‘combative and defensive’ during exchanges with House Oversight staff.

Ricchetti asserted he had personal relationships with Jill Biden and Hunter Biden in addition to the former president, the source said.

His own family had relationships with the Biden administration as well – three of his four children worked in the Treasury, State Department and in the White House.

The longtime Democratic operative and lobbyist was one of two longtime trusted aides reportedly with Biden in Rehoboth Beach, Delaware, when he drafted his bombshell letter announcing he was dropping out of the 2024 presidential race.

Mike Donilon

Former senior advisor to the president Mike Donilon is the latest member of Biden’s inner circle to appear before House investigators, sitting down with them voluntarily on Thursday for roughly five hours.

Donilon first began working for Biden in 1981 as a pollster when Biden was the junior U.S. senator from Delaware.

Alongside Ricchetti, he was one of two Biden aides who were present when he drafted his announcement dropping out of the 2024 presidential race.

Donilon told investigators he received $4 million to work for Biden’s 2024 re-election campaign and would have gotten $4 million more if Biden had won, a source told Fox News Digital.

He staunchly defended Biden during his interview, the source said, accusing Democrats of overreacting in the wake of Biden’s debate.

Donilon told investigators Biden is ‘a leader who was deeply engaged and in command on critical issues,’ according to his opening statement obtained by Fox News Digital.

‘Every president ages over the four years of a presidency and President Biden did as well, but he also continued to grow stronger and wiser as a leader as a result of being tested by some of the most difficult challenges any president has ever faced,’ Donilon said.

Fox News Digital’s Deirdre Heavey contributed to this report.

This post appeared first on FOX NEWS

The typical time that broadcast networks report on the advertising world is just before Super Bowl Sunday, to give viewers an advance peek at what companies will be shelling out millions to display. The clothing company American Eagle just scored a marketing coup with ad with White actress Sydney Sweeney making a sly joke about her ‘genes’ and her jeans. 

‘Genes are passed down from parents to offspring, often determining traits like hair color, personality, and even eye color,’ cooed the actress. ‘My jeans are blue.’ This quickly spurred outrage from purple-haired TikTokers and leftist websites complaining about ‘centering Whiteness’ and ‘fascist propaganda.’ 

On Tuesday, July 29, ABC’s ‘Good Morning America First Look’ was already employing the word ‘backlash.’ Anchor Rhiannon Ally began: ‘Time to check the pulse, we begin with the backlash over a new ad campaign featuring actress Sydney Sweeney.’ Co-anchor Andrew Dymburt added ‘in one ad, the blonde-haired, blue-eyed actress talks about genes as in DNA being passed down from her parents.’ 

Then Ally lowered the boom: ‘The play on words is being compared to Nazi propaganda with racial undertones.’ Robin Landa, a professor of advertising at Kean University in New Jersey, brought the leftist theme: ‘The pun ‘good genes’ activates a troubling historical association for this country. The American Eugenics Movement and its prime between 1900 and 1940 weaponized the idea of good genes just to justify White supremacism.’ 

In other interviews, Landa took the eugenics thing to its illogical conclusion, that one could suspect the American Eagle company was not just promoting ‘White genetic superiority,’ but a movement that ‘enabled the forced sterilization of marginalized groups.’ Most people just saw them selling their jeans as sexy. 

At least Dymburt suggested the backlash wasn’t economic: ‘Despite that backlash, American Eagle stock has been soaring.’ 

But was there any serious ‘backlash’ beyond the Left? TMZ.com cited anonymous sources inside American Eagle claiming ‘the ad campaign is creating tremendous buzz and their independent polling shows the vast majority of folks — around 70% — find the commercial appealing.’ 

On the CBS News streaming channel, business reporter Jo Ling Kent relayed ‘American Eagle’s new ad campaign, featuring actress Sydney Sweeney, is coming under fire for what was supposed to be a clever play on words.’ It couldn’t be ‘clever’? 

Did this company know and expect that purple-haired leftists would cry Nazi and that would lead to an avalanche of social-media impressions and debates? It’s hard to argue they stumbled into this, not knowing what a blonde, White actress using wordplay about ‘genes’ could cause. 

On NPR’s ‘Morning Edition’ on Wednesday, co-host Steve Inskeep discussed the Sweeney ads with Metaforce marketing guru Allen Adamson. Inskeep explained ‘There was some social media commentary. ‘Oh, there’s something racist about this.’ And I get that, I understand people raising that. But I think there’s also something real here — isn’t it? — in that advertisers do think about the race and ethnicity, the look of the people they choose to pitch their products to us.’ 

Adamson claimed: ‘For years, the tide was flowing in a different direction. There was a pressure on advertisers to diversify, to show people in ads that usually were not shown in ads because that was unusual. All the ads had a sort of ‘Leave It to Beaver’ old-fashioned look.’ 

The ‘Beaver’ line is overdoing it, but advertisers after the George Floyd riots absolutely worked hard to diversify the actors in their ads. It’s not offensively ‘woke’ to have minorities of all kinds selling you Eggo waffles or McDonald’s burgers. That’s all still too capitalist for the left-wingers. But having a White actress joke about race clearly grabbed attention. 

On the CBS News streaming channel, business reporter Jo Ling Kent relayed ‘American Eagle’s new ad campaign, featuring actress Sydney Sweeney, is coming under fire for what was supposed to be a clever play on words.’ It couldn’t be ‘clever’? 

The NPR anchor suggested Trump was part of the formula: ‘So if people were going for diversity in past years, are advertisers going for some other look now that the politics of the country are a little different?’ Adamson said yes, because ‘advertising needs to disrupt the norm.’ 

On Wednesday night’s ‘Late Show’ on CBS, Stephen Colbert actually hinted that the leftist backlash was a little strident. ‘Some people look at this and they’re seeing something sinister, saying that the genes-jeans denim wordplay in an ad featuring a White blond woman means American Eagle could be promoting eugenics, White supremacy and Nazi propaganda. That might be a bit of an overreaction — although Hitler did briefly model for Mein Kampfort Fit Jeans.’ Colbert added: ‘How do you say ‘badonk’ in German?’ 

The broadcast networks didn’t launch too heavily into this ad campaign, perhaps suspicious of being part of a sneaky advertising plot, as Brian Stelter tried to call it a ‘nontroversy.’ Sometimes, an ad for jeans is all about selling jeans. 

This post appeared first on FOX NEWS

President Donald Trump wrapped up his second term’s 28th week in office announcing he would reposition two nuclear submarines amid increased tension with Russia, after just adding new tariffs to a host of countries. 

On Monday, Trump unveiled a new deadline for Russia to end its conflict with Ukraine, and former Russian President Dmitry Medvedev said the announcement is an additional ‘step towards war.’ 

In response, Trump made a rare announcement Friday that he would reposition two submarines to best respond to the escalated tension between the two countries. 

‘Based on the highly provocative statements of the Former President of Russia, Dmitry Medvedev, who is now the Deputy Chairman of the Security Council of the Russian Federation, I have ordered two Nuclear Submarines to be positioned in the appropriate regions, just in case these foolish and inflammatory statements are more than just that,’ Trump said in a Friday post on Truth Social. 

Trump did not disclose any additional details regarding the submarines, and defense officials rarely comment on submarine placement given the highly classified nature of their operations. 

Here’s what also happened this week:

New tariffs

Trump also signed several executive orders Thursday related to tariffs, including raising the tariffs on Canada from 25% to 35%. 

The president raised the tariff rate due to Canada’s contribution to the flow of fentanyl and other illicit drugs into the U.S., according to the Trump administration. However, Canada’s Prime Minister Mark Carney challenged that assessment. 

‘Canada accounts for only 1% of U.S. fentanyl imports and has been working intensively to further reduce these volumes,’ Carney said in a Friday statement.  

Trump also modified reciprocal tariffs on a series of countries Thursday, bumping up the tariff rate on Brazil to 50%. 

Meanwhile, Trump reached a trade deal on Thursday with South Korea, driving down tariffs against South Korea from 25% as pitched in the spring to 15%. Additionally, Trump agreed Thursday to continue trade talks with Mexico for another 90 days. 

Veterans housing legislation

Trump also signed the VA Home Loan Program Reform Act into law Wednesday, which would make permanent a partial claims program that seeks to keep veterans from losing their homes to foreclosure. 

The new partial claims program under the Department of Veterans’ Affairs’ (VA) Home Loan Program permits veterans who are behind on mortgage payments to tack on those payments to the tail end of their loans, while also offering them an interest-free loan in the interim. 

 

‘This legislation provides desperately needed relief to veterans and their families who have fallen behind in their mortgages,’ Trump told reporters Wednesday. ‘It’s a really sort of an amazing situation, and it helps keep our promise to end veterans homelessness. And, we’re going to do that for America. We’re going to do that for our great veterans.’

Estimates suggest the partial claim program could assist up to 3.7 million veterans, according to Trump. 

‘It’s common sense legislation,’ Trump said. ‘My administration is committed to doing everything possible to ensure that our veterans are treated with respect and treated as well as anybody in this country.’

This post appeared first on FOX NEWS

 

(TheNewswire)

 

     

   
             

 

Vancouver, BC TheNewswire – August 1, 2025 Element79 Gold Corp. (CSE: ELEM,OTC:ELMGF) (OTC: ELMGF) (FSE: 7YS0) (‘Element79 Gold’, the ‘Company’) is pleased to announce that it has executed a definitive Asset Purchase Agreement (the ‘Agreement’) dated July 31, 2025, with Donald James McDowell (the ‘Vendor’) for the acquisition of a 100% interest in the Gold Mountain Project located in Lander County, Nevada.

 

  The Gold Mountain Project consists of 34 unpatented mining claims covering highly prospective ground in the heart of Nevada’s Battle Mountain trend. Under the terms of the Agreement, Element79 Gold, through its wholly owned subsidiary ELEM Battle Mountain LLC, has agreed to acquire all rights, title, and interest in the Gold Mountain assets in exchange for the issuance of 100,000,000 common shares of the Company at a deemed price of C$0.02 per share, as well as a cash payment of US$137,485.85 payable following the closing of the Company’s next equity financing.  

 

  As part of the transaction, the Vendor will retain a 3% Net Smelter Return (NSR) royalty on all future mineral production from the project.   This arm’s length transaction is not considered a fundamental change for the Company.  No finder’s fees will be paid in conjunction with the transaction. The Company Will ensere that all required regulatory Filings are made in regards to this transaction.  

 

  Full details of the acquisition are available in the Asset Purchase Agreement filed on SEDAR+.  

 

  James Tworek, CEO of Element79 Gold, commented   :  

 

  ‘This acquisition marks a significant step in advancing our strategic focus in Nevada. The Gold Mountain Project provides a drill-ready opportunity with strong geological fundamentals in one of the most prolific gold regions in the world. Our technical team is preparing an exploration program for later this year to begin unlocking the value of this asset.’  

 

  About Element79 Gold Corp  

 

  Element79 Gold Corp is a mining company focused on gold and silver exploration, with a portfolio of assets in Nevada and Peru. The Company is actively advancing its Elephant project in the Battle Mountain trend of Nevada, as well as the drill-ready Gold Mountain project in Battle Mountain, Nevada. The Company also holds an option to purchase the high-grade Lucero mine in southern Peru.   Element79 Gold has completed the transfer of its Dale Property in Ontario to its wholly owned subsidiary, Synergy Metals Corp., and is progressing through the Plan of Arrangement spin-out process.   Element79 Gold is listed on the Canadian Securities Exchange (CSE: ELEM,OTC:ELMGF), the Frankfurt Stock Exchange (FSE: 7YS0), and the OTC Markets (OTC: ELMGF).  

 

  Investor Relations Contact:  

 

  Investor Relations Department  

 

  Email:     investors@element79.gold     
Phone: +1.604.319.6953
 

 

  Corporate Contact:  

 

  James C. Tworek, Chief Executive Officer and Director  

 

  Email:     jt@element79.gold    

 

  Cautionary Note Regarding Forward Looking Statements  

 

  This press release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words ‘anticipate,’ ‘plan,’ ‘continue,’ ‘expect,’ ‘estimate,’ ‘objective,’ ‘may,’ ‘will,’ ‘project,’ ‘should,’ ‘predict,’ ‘potential’ and similar expressions are intended to identify forward-looking statements. In particular, this press release contains forward-looking statements concerning the Company’s exploration plans, development plans and the Force Majeure Event. Although the Company believes that the expectations and   assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on these statements because the Company cannot provide assurance that they will prove correct. Forward-looking statements involve inherent risks and uncertainties, and actual results may differ materially from those anticipated. Factors that could cause actual results to differ include conditions in the duration of the Force Majeure Event, and receipt of regulatory and shareholder approvals. These forward-looking statements are made as of the date of this press release, and, except as required by law, the Company disclaims any intent or obligation to update publicly any forward-looking statements.  

 

  Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.  

 

Copyright (c) 2025 TheNewswire – All rights reserved.

 

 

News Provided by TheNewsWire via QuoteMedia

This post appeared first on investingnews.com

Anglo American (LSE:AAL,OTC Pink:AAUKF) reported a sharp US$1.9 billion net loss for the first half of 2025, deepening from US$672 million a year earlier, as the global miner pushed forward with a sweeping corporate overhaul aimed at focusing on copper and iron ore.

The London-based group’s latest results saw revenue dropping by 7 percent year-on-year to US$8.95 billion, falling short of analyst expectations, while underlying EBITDA fell 20 percent to US$3 billion.

“By focusing on our exceptional copper, premium iron ore and crop nutrients resource endowments, each with significant value-accretive growth options, we are unlocking material value for our shareholders,” Chief Executive Duncan Wanblad assured in the company’s recent performance report.

Anglo American’s portfolio shakeup continued at pace in the first half.

Following the May demerger of its platinum unit, now listed as Valterra on the Johannesburg Stock Exchange, the company has now designated its steelmaking coal and nickel operations as discontinued. Sales for both are agreed but not yet finalized.

A major piece of the puzzle remains De Beers, the iconic diamond brand in which Anglo holds an 85 percent stake. The miner confirmed it is pursuing both a trade sale and an IPO option, depending on market conditions and buyer appetite.

Wanblad said that while the company is prioritizing a trade sale for De Beers, it is also preparing the business for a potential IPO should market conditions warrant it.

The diamond market has been a major drag on performance. De Beers posted a US$189 million loss in the half-year period in the midst of a prolonged downturn in global rough-diamond demand and competition from synthetic stones.

Anglo American said it has already recorded US$3.5 billion in impairments related to De Beers over the past two years, valuing the unit at US$4.9 billion.

Despite the gloom, Wanblad maintained that De Beers has long-term potential. “With some of the best diamond mine resources and best marketing capabilities in the world, De Beers, I believe, is well positioned to emerge and thrive as the market recovers.”

Trade frictions causing market volatility

The company’s revenue decline was partly attributed to global trade disruptions, particularly from the US government’s shifting tariff strategy.

A recent announcement from President Donald Trump spared refined copper imports from sweeping new tariffs but left semi-processed products exposed, which triggered a sharp 18 percent drop in copper prices and dislocating demand patterns.

Anglo American noted that while it benefited from a 127 percent year-on-year increase in U.S. refined copper imports in the first five months of 2025, this redirected metal away from traditional markets in Asia and Europe.

Copper remains at the center of Anglo’s growth strategy. Post-restructuring, the metal is expected to account for over 60 percent of group EBITDA, according to internal forecasts.

In line with its weaker performance, Anglo American slashed its interim dividend to US$0.07 per share, down from US$0.42 last year. The company cited negative earnings contributions from its platinum and coal divisions and no contribution from De Beers.

De Beers exit timeline and options

The divestment of De Beers is progressing, with Anglo confirming it is now in the second round of its formal sale process, involving what it described as “a credible set of interested parties.”

The company is also in discussions with the government of Botswana, which holds a 15 percent stake and may seek to increase its ownership.

If a trade sale fails to materialize, Anglo is preparing for a public listing. Wanblad said exchanges in London, Johannesburg, and New York are all under consideration.

A trade sale could be finalized within six to nine months, he added, while an IPO would likely be delayed until early or mid-2026 depending on a recovery in diamond prices.

De Beers’ Venetia mine in South Africa, one of the country’s largest diamond operations, is undergoing a costly underground expansion aimed at extending its life beyond 2040.

Wanblad said Anglo remains engaged with stakeholders on the mine’s future, regardless of the group’s eventual exit from the diamond sector.

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

This post appeared first on investingnews.com

Zinc prices were in decline for much of the first half of 2025 as primary supply increased and demand from the construction sector slumped.

Primarily used to make galvanized steel destined for construction and manufacturing sectors, zinc has come under fire in recent years as inflation and interest rates took their toll.

The metal performed relatively well in 2024 as weak supply was offset by soft demand. However, as 2024 began, new threats to its performance emerged as the US began to look to tariffs to correct perceived trade imbalances.

Market performance by the numbers

The zinc price started the year with downward momentum, sliding from US$3,150 per metric ton on December 10 to US$2,750 on January 31.

Zinc price chart, January 1 to July 31, 2025

via TradingEconomics

The metal found some support in February and March, climbing to US$2,928 on February 24 and then reaching a year-to-date high of US$2,971 on March 14; however, it wasn’t to last. The bottom fell out from under Zinc and quickly plunged to its year-to-date low of US$2,562 on April 9.

Since then, the zinc market has been volatile, and although it has recovered somewhat, it is still far from its first-quarter highs, peaking at US$2,865 on July 23.

What’s behind the price?

According to a review from the Shanghai Metal Market (SMM) on June 29, ex-China zinc concentrate production increased by 6.47 percent in the first quarter to 1.3 million metric tons versus 1.22 million metric tons during the same period of 2024.

It attributed these increases to resumption in production at Boliden’s Tara mine in Ireland, and ramp-ups at Grupo Mexico’s Buenavista mine in Mexico and Ivanhoe’s Kipushi mine in the Democratic Republic of the Congo.

Additionally, SMM noted that Xinjiang’s Huoshaoyun lead-zinc mine started production in May, with output reaching 50,000 metric tons in its first two months and is expected to reach 150,000 metric tons in July. The company is targeting full-year production of 700,000 to 750,000 metric tons.

Although supply seems robust and Chinese imports of concentrates increased 52.46 percent over 2024, treatment charges for imported metal have also increased from US$20 per metric ton at the start of the year to US$65 in May. The sharp increase in fees indicates an oversupply in the market, allowing smelters to charge more.

The SMM findings are further supported by data released from the International Lead and Zinc Study Group (ILZSG), which reported on June 18 that mining supply had increased during the first four months of the year to 3.94 million metric tons from 3.75 million metric tons in 2024.

It also showed flat demand for the metal with 4.28 million metric tons consumed during that period versus 4.3 million metric tons last year.

Changing US policy

A steep decline in commodity prices in April demonstrates just how fragile the global markets can be.

Zinc prices fell 13.77 percent at the start of April to US$2,562 per ton alongside President Trump’s “Liberation Day” tariff announcement and subsequent sell-off in the equity and US Treasury markets.

The prediction from analysts at the time was that if reciprocal tariffs were put in place, it would trigger a recession before the end of the year, impacting consumer spending on homes and cars, which have significant zinc inputs.

Demand for the metal has already been weak over the past several years due to high inflation and interest rates following the pandemic. Although inflation has eased, and interest rates have begun to normalize, the new tariff threat provides a new layer of uncertainty.

So far, auto makers have yet to raise their prices, but demand for new cars increased 2.5 percent in March, double the 1.1 percent typical for the same period in recent years. The gain is attributed to consumers looking to get ahead of more significant price increases down the line.

The impetus behind the tariffs is to stimulate domestic production, but the willingness from producers to follow through on new US projects remains uncertain.

For its part, the Trump administration has signalled its willingness to back large infrastructure and critical mineral projects by continuing the FAST-41 program that started under President Joe Biden.

The program aims to streamline the permitting process and speed development timelines to get the projects to production faster.

So far, the only zinc project to be included on the list is South32’s Hermosa, near Tucson, Arizona.

Progress at the site has continued with the company reporting in its update for the June quarter that it had made US$517 million in investments in FY25. It also stated that work on the main and ventilation shafts began during the second quarter, and construction work at the processing plant had begun.

In addition to development activities, the company also reported that it met a key milestone with the US Forest Service releasing a draft environmental impact statement.

The project is expected to see its first production from the Taylor deposit during the second half of 2027.

As a campaign promise, Trump proposed freeing up federal lands for housing projects, which could drive demand for galvanized steel products. The plan would invite developers to bid on land with the promise that a percentage of units would be set aside for affordable housing, and close the 4 million home shortfall.

However, a report from Realtor.com on July 22 poured cold water on the idea, stating that while it could offer incremental gains, it noted that there wasn’t enough land in places that need housing most.

Instead, the report suggested there are better methods available, including land use and zoning reforms, and increasing construction capacity in high-demand regions.

So where does that leave zinc?

With supply surpluses expected from the ILZSG, a significant turnaround may not be in the cards for zinc prices in the short term, especially when met by weak demand due to tariff uncertainty.

Although there was some recovery at the end of the second quarter, the oversupply situation doesn’t lend much support for the market to turn bullish.

The market has largely seen a dearth of investment as the market fundamentals haven’t provided support.

A June 11 report from analysts with German investment bank, IKB, noted the oversupply situation developing in the Zinc market and forecast that by the end of the third quarter, zinc prices will be trading in the US$2,600 per ton range.

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

This post appeared first on investingnews.com

Exchanged for Securities of Silver47 Exploration Corp. Pursuant to the Plan of Arrangement

Eric Sprott announces that, on August 1, 2025, 2176423 Ontario Ltd. (a corporation beneficially owned by him) acquired 10,383,434 common shares of Silver47 Exploration Corp., (Silver47 Shares) and 1,525,000 Silver47 Share purchase warrants (Silver47 Warrants) upon the closing a statutory plan of arrangement (Arrangement), pursuant to which Silver47 Exploration acquired all the outstanding common shares of Summa Silver Corp (Summa Silver Shares). Pursuant to the Arrangement, among other things, holders of Summa Silver Shares received 0.452 of a Silver47 Share for every Summa Silver Share they held. Mr. Sprott now beneficially owns over 10% of the outstanding Silver47 Shares.

Summa Silver holdings: Prior to the Arrangement, Mr. Sprott beneficially owned 22,972,200 Summa Silver Shares and 3,375,000 Summa Silver Share purchase warrants, representing approximately 15.3% of the outstanding Summa Silver Shares on a non-diluted basis, and approximately 17.2% on a partially diluted basis assuming exercise of such warrants. As a result of the Arrangement, Mr. Sprott no longer holds any securities of Summa Silver, and Mr. Sprott (as well as 2176423 Ontario Ltd.) ceased to be insiders of Summa Silver.

Silver47 Exploration holdings: Prior to the Arrangement, Mr. Sprott beneficially owned 5,500,000 Silver47 Shares and 750,000 Silver47 Warrants, representing approximately 7.8% of the outstanding Silver47 Shares on a non-diluted basis, and approximately 8.8% on a partially diluted basis assuming exercise of such warrants. As a result of the Arrangement, Mr. Sprott now beneficially owns 15,883,424 Silver47 Shares and 2,275,000 Silver 47 Warrants representing approximately 11.5% of the outstanding Silver47 Shares on a non-diluted basis, and approximately 12.9% on a partially diluted basis assuming exercise of such warrants

Mr. Sprott has a long-term view of the investment in Silver47 Exploration securities and may acquire additional securities of Silver47 Exploration including on the open market or through private acquisitions or sell securities including on the open market or through private dispositions, in the future, depending on market conditions, reformulation of plans and/or other relevant factors.

Summa Silver is located at 918-1030 West Georgia St., Vancouver, British Columbia, V6E 2Y3. Silver47 Exploration is located at 551-409 Granville St., Vancouver, British Columbia, V6C 1T2 A copy of the relevant early warning report with respect to the foregoing will appear on Summa Silver’s or Silver47 Exploration’s profile, as applicable, on SEDAR+ at www.sedarplus.ca and may also be obtained by calling Mr. Sprott’s office at (416) 945-3294 (2176423 Ontario Ltd., 7 King Street East, Suite 1106, Toronto, Ontario, M5C 3C5).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/260984

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Here’s a quick recap of the crypto landscape for Wednesday (August 1) as of 9:00 a.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$114,797, down by 2.8 percent over the last 24 hours. Its highest valuation on Friday was US$118,696, while its lowest valuation was US$114,322.

Bitcoin price performance, August 1, 2025.

Chart via TradingView

Bitcoin’s price drop followed sweeping new US tariffs, including a 35 percent levy on Canadian imports, which rattled risk assets broadly. In parallel, the Federal Reserve’s decision to maintain interest rates at 4.25 percent –4.50 percent and stronger-than-expected inflation data dampened hopes of near-term rate cuts, adding downside pressure to Bitcoin’s price

Ethereum (ETH) was priced at US$3,595.75, down by 5.2 percent over the past 24 hours. Its lowest valuation on Friday was US$3,591.61, and its highest was US$3,809.48.

Altcoin price update

  • Solana (SOL) was priced at US$167.55, down by 5.4 percent over 24 hours. Its lowest valuation on Friday was US$165.43, and its highest was US$179.17.
  • XRP was trading for US$3.03, down by 2.2 percent in the past 24 hours. Its lowest valuation of the day was US$2.91, and its highest valuation was US$3.13.
  • Sui (SUI) is trading at US$3.52, down 6.7 percent over the past 24 hours. Its lowest valuation of the day was US$3.45, and its highest was US$3.81.
  • Cardano (ADA) was trading at US$0.7321, down by 4.1 percent over 24 hours. Its lowest valuation on Friday was US$0.7137, and its highest was US$0.7731.

Today’s crypto news to know

Coinbase revenue misses as trading volumes lag

Shares of Coinbase Global (NASDAQ:COIN) fell 12 percent in premarket trading Friday (August 1) after the crypto exchange missed Wall Street expectations for second-quarter revenue.

While revenue grew 3.3 percent year over year to US$1.5 billion, it fell short of the US$1.59 billion estimate and was down from US$2 billion in the previous quarter.

Spot trading volumes declined globally and in the US, with average market capitalization roughly flat during the period, according to the company’s shareholder letter.

Still, net income surged to US$1.43 billion, largely from unrealized gains on its crypto holdings and investments.

Coinbase continues to diversify, noting it is testing traditional stock, FX, and commodity trading. The company was recently added to the S&P 500 (INDEXSP:INX) in May.

Assetera expands access to tokenized securities with Plug-and-Play API

Austria-based trading platform Assetera has launched a MiFID-compliant API that lets crypto exchanges offer tokenized securities, which include US Treasuries and blue-chip stocks, without needing their own regulatory license.

The service provides over 60 financial instruments at launch and handles all compliance responsibilities, including KYC and anti-money laundering checks. Assetera is targeting crypto platforms in the European Union and European Economic Area, aiming to break the dominance of major players like Kraken and Gemini in tokenized assets.

The company says it’s in discussions with several top-20 global crypto exchanges and anticipates €1 billion in trading volume during its first year.

Strategy’s US$10 billion profit fails to impress investors, treasury model dominates

Despite posting a massive US$10 billion profit for Q2, Strategy’s (NASDAQ:MSTR) share price dropped 1.4 percent in after-hours trading, highlighting investor concern about the company’s future beyond Bitcoin.

Strategy, formerly focused on enterprise software, has increasingly transformed into a corporate Bitcoin treasury. The firm now holds over 628,000 BTC, comprising more than 3 percent of the total supply, valued at US$74 billion.

Michael Saylor’s pivot has inspired imitators like Japan’s Metaplanet, which converted hotel assets into crypto. Despite the dip, the firm’s next move includes raising US$4.2 billion through a new STRC offering to buy more Bitcoin.

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

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

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Albemarle (NYSE:ALB), one of the world’s largest lithium producers, is cutting costs and narrowing its capital investment plans as it adjusts to ongoing weakness in lithium prices, even as demand from electric vehicle and energy storage sectors holds up better than expected.

The Charlotte-based company reported a second-quarter profit of US$22.9 million, a significant turnaround from the US$188.2 million loss it posted a year ago.

While total revenue fell 7 percent to US$1.33 billion, the figure still came in ahead of Wall Street’s US$1.22 billion estimate, buoyed by stronger-than-expected results in its specialties division and disciplined cost management.

“Our job is just to keep working on the things that are in our control, because we don’t really have a clear line of sight to where pricing is going,” Chief Financial Officer Neal Sheorey told investors Thursday.

Sheorey said Albemarle has reached its US $400 million annualized cost-savings and productivity target, citing measures such as supply chain restructuring and improved operations at lithium conversion and mining sites.

The company now expects to spend between US$650 million and US$700 million in capital expenditures for the full year, narrowing its previous guidance of US$700 million to US$800 million.

With lower spending and continued operational execution, Albemarle said it expects to achieve positive free cash flow for 2025—so long as current lithium prices, which have hovered around US$9 per kilogram, persist.

Lithium prices down, but demand remains resilient

Lithium prices have come off their historic highs of 2021–2022, when a global EV boom and constrained supply sent costs soaring above US$70 per kilogram.

But that surge spurred rapid supply growth, and by late 2022, the market entered a surplus. Prices have since declined sharply and now sit near levels that are not considered economically viable for many new or greenfield projects.

Despite the pricing downturn, Sheorey emphasized that demand for lithium has not collapsed. During the company’s earnings call, he maintained that demand has held up better than expected this year, pointing to robust growth in China and Europe that is offsetting a more subdued US market.

“The outlook in North America is less certain, particularly in the United States due to the potential impact of tariffs and the removal of the 30D tax credit in September,” Sheorey said, adding that the US accounts for only about 10 percent of global electric vehicle sales.

In contrast, EV sales in China rose 41 percent year-to-date, including a 44 percent jump in battery electric vehicles spurred by recent subsidies, while Europe also showed double-digit growth.

Still, Sheorey cautioned that pricing remains under pressure. “We continue to expect the full-year EBITDA margin [for energy storage] to average in the mid-20 percent range assuming our $9 per kilogram price scenario,”

According to Albemarle’s internal analysis, the market could return to balance as early as next year if current price levels persist. “New project development has begun to slow, while demand continues to be robust,” the company said. It estimates that demand growth could outstrip supply growth by up to 10 percent per year between 2024 and 2030.

Much of the company’s current optimism stems from performance at its integrated production and processing facilities, particularly due to strong volumes from Albemarle’s Wodgina mine and the Salar yield improvement project.

With lithium demand expected to more than double by 2030, Albemarle is betting that its investments in operational excellence and global reach will pay off once the market stabilizes.

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

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(TheNewswire)

 

   

   
     

 

TORONTO, ON, August 1, 2025 TheNewswire – Silver Crown Royalties Inc. ( Cboe: SCRI,OTC:SLCRF; OTCQX: SLCRF; FRA: QS0) ( ‘Silver Crown’ ‘SCRi’ or the ‘Company’ ) announces that it has become aware that Gold Mountain Mining Corp. (‘ Gold Mountain ‘) and its two subsidiaries, Bayshore Minerals Incorporated and Elk Gold Mining Corporation (‘ Elk Gold ‘) have been placed under receivership proceedings.

 

  The Company holds the Elk Gold royalty pursuant to the royalty agreement with Elk Gold (the ‘   Elk Gold Royalty   ‘) (for more information see the Company’s continuous disclosure documents available under the Company’s profile on SEDAR+ available at sedarplus.ca). The Company is currently closely monitoring this situation and will update its shareholders and the market of any material developments.  

 

  Peter Bures, CEO of the Company, stated: ‘Silver Crown’s prudent approach to royalty agreements and diversification was designed to offer a buffer against these types of events. This strategy will allow us to maintain our forward momentum in terms of additional growth in revenues’.  

 

  ABOUT Silver Crown Royalties INC.  

 

  Founded by industry veterans, Silver Crown Royalties (   Cboe:   SCRI |   OTCQX:   SLCRF |   BF:   QS0   ) is a publicly traded, silver royalty company. Silver Crown (SCRi) currently has four silver royalties of which three are revenue-generating. Its business model presents investors with precious metals exposure that allows for a natural hedge against currency devaluation while minimizing the negative impact of cost inflation associated with production. SCRi endeavors to minimize the economic impact on mining projects while maximizing returns for shareholders.   For further information, please contact:  

 

  Silver Crown Royalties Inc.  

 

  Peter Bures, Chairman and CEO  

 

  Telephone: (416) 481-1744  

 

  Email:   pbures@silvercrownroyalties.com  

 

  FORWARD-LOOKING STATEMENTS  

 

  This release contains certain ‘forward looking statements’ and certain ‘forward-looking information’ as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as ‘may’, ‘will’, ‘should’, ‘expect’, ‘intend’, ‘estimate’, ‘anticipate’, ‘believe’, ‘continue’, ‘plans’ or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include, but are not limited to, SCRi anticipates that Elk Gold will pay this residual amount owing on or before March 31, 2025. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which SCRi will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; SCRi’s ability to enter into definitive agreements and close proposed royalty transactions; the inherent uncertainties related to the valuations ascribed by SCRi to its royalty interests; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects SCRi; stock market volatility; regulatory restrictions; liability, competition, the potential impact of epidemics, pandemics or other public health crises on SCRi’s business, operations and financial condition, loss of key employees. SCRi has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. SCRi undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available.  

 

  This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions   from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.  

 

  CBOE CANADA DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.  

 

Copyright (c) 2025 TheNewswire – All rights reserved.

 

 

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