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A Senate Republican renewed his push to federalize Washington, D.C., following an attack on a former Department of Government Efficiency (DOGE) staffer and President Donald Trump’s threat to put the District under federal control.

Sen. Mike Lee, R-Utah, has long called for control of Washington to fall under Congress, going so far as to introduce the Bringing Oversight to Washington and Safety to Every Resident (BOWSER) Act, named after D.C. Mayor Muriel Bowser, in an effort to combat crime in the District.

The bill, which Lee introduced alongside Rep. Andy Ogles, R-Tenn., has not made it out of committee since being dropped in February. But Trump’s highlight of an attack against former DOGE staffer Edward Coristine, also known as ‘Big Balls,’ has resurrected the discussion.

‘The Constitution already federalizes D.C.,’ Lee said on X. ‘We just need Congress to do its job — and reassert its lawmaking power over our nation’s capital city. My bill, the BOWSER Act, would do that.’

Fox News Digital reached out to Lee for further comment.

Lee’s bill would effectively repeal the District of Columbia Home Rule Act, a law passed in the 1970s that established a city council and mayor and reduced the amount of oversight that Congress has over the city and its affairs.

But calls have grown by lawmakers over the years to increase Congress’ oversight of the city, largely centered on concerns over increased crime and criticisms of attempts to rewrite the District’s criminal code.

And Trump jumped into the discourse, too, threatening that if ‘D.C. doesn’t get its act together, and quickly, we will have no choice but to take Federal control of the City.’

‘Perhaps it should have been done a long time ago, then this incredible young man, and so many others, would not have had to go through the horrors of Violent Crime,’ Trump said on his social media platform, Truth Social. ‘If this continues, I am going to exert my powers, and FEDERALIZE this City.’

Fox News reached out to Bowser’s office for comment but did not immediately hear back.

Zack Smith, a senior legal fellow at The Heritage Foundation and a former prosecutor, told Fox News Digital that in the past, the D.C. council has pushed ‘policies that have made it much more difficult for law enforcement, for prosecutors, to do their jobs and keep citizens safe.’

Bowser and the D.C. Council have, for several years, worked to update the District’s criminal code. However, changes to the code that would have severely lowered sentencing for a variety of crimes that were at first vetoed by Bowser were on the precipice of becoming law before Congress and former President Joe Biden overrode the reforms.

Smith noted that Congress still has the authority to legislate the District, meaning that lawmakers and the federal government are ‘still the backstop,’ and that both Trump and Lee were right to call for a ‘reevaluation of the District’s status.’

‘That’s why Congress was able to step in and overturn that proposed radical rewrite of the Criminal Code,’ he said. ‘And so what the BOWSER Act would actually do, if it repeals home rule, it would essentially change the way the local D.C. government functions. It might involve Congress and the Federal Government taking a more direct role.’

‘I think there is broad and in some ways bipartisan consensus that the current system in D.C. is not working as it should,’ he continued. 

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The horse race for the next open Senate seat in Tennessee is already kicking off after Sen. Marsha Blackburn, R-Tenn., announced a bid for the governorship earlier Wednesday.

Tennessee Republican Reps. Andy Ogles and Tim Burchett both told Fox News Digital they’re interested in Blackburn’s seat.

Ogles said, ‘Absolutely,’ when asked if he would consider a push for Congress’ upper chamber. Burchett noted that any such situation was a ‘long ways off’ but confirmed he was looking at it as well.

Blackburn just won re-election for her second term in the U.S. Senate in the November 2024 cycle.

If she ran for governor and won, Blackburn would have to vacate her seat – setting up a potential power vacuum in the Volunteer State.

Tennessee law grants the governor the ability to appoint someone to fill Senate vacancies until the next regularly scheduled election.

That means that if Blackburn leaves by 2026, her successor would be tapped to serve until 2031. 

Both Ogles and Burchett said they would be interested in running for the seat in the 2030 election cycle if appointed to the upper chamber.

But it could very well be up to Blackburn to choose her successor, depending on when she hypothetically resigned from the Senate.

Tennessee state law does not specify when she has to step down from the Senate, according to local outlet Knox News.

If the vacancy occurred before Blackburn stepped down, the decision would likely fall to term-limited Gov. Bill Lee. But Lee could leave the decision to Blackburn if she resigned after being sworn in to take his place.

‘Trump is back, America is blessed, and Tennessee – better than ever,’ Blackburn said in a video announcing her campaign launch on Wednesday. ‘I love Tennessee, I believe in Tennesseans, and I’m ready to deliver the kind of conservative leadership that will ensure our state is America’s conservative leader for this generation and the next.

Her candidacy sets up a high-stakes GOP primary against her congressional colleague, Rep. John Rose.

If she wins, Blackburn would be the first female governor of Tennessee.

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In a win for Make America Healthy Again (MAHA) advocates, six more states have gotten waivers allowing them to ban soda, candy and other high-sugar junk foods from being purchased through the federally funded, but state-operated Supplemental Nutrition Assistance Program, known as SNAP. 

The waivers, which amend the statutory definition of eligible food for purchase under SNAP, were granted to West Virginia, Florida, Colorado, Louisiana, Oklahoma and Texas. The new restrictions on what can and cannot be purchased will go into effect in 2026.

The six new waivers bring the number of states that have sought to restrict SNAP purchases of junk food to 12. The other states who received waivers from the Trump administration earlier this year were Nebraska, Iowa, Indiana, Arkansas, Idaho and Utah.

‘For years, SNAP has used taxpayer dollars to fund soda and candy, products that fuel America’s diabetes and chronic disease epidemics,’ Health Secretary Robert F. Kennedy Jr. said

‘These waivers help put real food back at the center of the program and empower states to lead the charge in protecting public health.’

Agriculture Secretary Brooke Rollins has praised the historic efforts that states, mostly those with Republican leadership, have made to help improve the health and nutrition assistance provided through SNAP. 

On average, 42 million low-income Americans receive food stamp assistance each month, including one in five American children under 17, according to a report from the Trump administration released earlier this year.

‘It is incredible to see so many states take action at this critical moment in our nation’s history and do something to begin to address chronic health problems,’ Rollins said after the latest announcement of new waivers. ‘President Trump has changed the status quo, and the entire Cabinet is taking action to Make America Healthy Again. … These state waivers promote healthier options for families in need.’

Of the 12 states that have been granted SNAP waivers thus far, all of them will restrict SNAP funds from being used to purchase sugary drinks, including soda, while at least eight of the states have indicated plans to ban SNAP funds for candy purchases. Some states, such as Florida, Louisiana and Nebraska, will explicitly ban energy drinks as well, while others, like Arkansas, have indicated drinks with less than 50% natural juice will be banned. 

ABC News medical correspondent Darien Sutton argued the move, although pushed as an effort to improve health outcomes, lacks evidence.

‘There’s no evidence that taking away access to soda will actually fight these conditions,’ he said, according to ABC News. ‘Sugar is one of those culprits that you always have to be mindful of.’ 

Sutton pointed out that U.S. dietary guidelines recommend that men do not have more than 35 grams of sugar per day, while women are told to limit it to 25 grams per day. 

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President Donald Trump and Russian President Vladimir Putin appear to be on track to soon have their first meeting since Trump took office for his second term earlier this year.

‘As for Ukrainian affairs directly, at the suggestion of the American side, an agreement was agreed upon in principle to hold a bilateral meeting at the highest level in the coming days, that is, a meeting of Presidents Vladimir Putin and Donald Trump,’ aide to the Russian president Yuri Ushakov noted, according to a Russian to English translation by Google Translate of Ushakov’s comments.

‘As for the option of a trilateral meeting, which for some reason was discussed yesterday in Washington, this option was simply mentioned by the American representative during the meeting in the Kremlin. But this option was not specifically discussed. The Russian side left this option completely, without comment,’ Ushakov noted. ‘We propose first of all to focus on preparing a bilateral meeting with D. Trump and we believe that the main thing is for this meeting to be successful and productive.’

Fox News Digital reached out to the White House for comment early on Thursday morning.

The potential meeting would come as President Trump has been trying to help broker an end to the years-long Russia-Ukraine war.

‘My Special Envoy, Steve Witkoff, just had a highly productive meeting with Russian President Vladimir Putin. Great progress was made!’ Trump declared in a Wednesday post on Truth Social. 

‘Afterwards, I updated some of our European Allies. Everyone agrees this War must come to a close, and we will work towards that in the days and weeks to come. Thank you for your attention to this matter!’

White House press secretary Karoline Leavitt noted, ‘As President Trump said earlier today on TRUTH Social, great progress was made during Special Envoy Witkoff’s meeting with President Putin. The Russians expressed their desire to meet with President Trump, and the President is open to meeting with both President Putin and President Zelensky. President Trump wants this brutal war to end.’

Fox News Channel’s Peter Doocy contributed to this report

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Veteran Democratic operative Anita Dunn will be on Capitol Hill on Thursday for a closed-door interview with House Oversight Committee investigators.

She is the tenth former White House official to appear before the panel’s lawyers, as Committee Chair James Comer, R-Ky., probes whether former President Joe Biden’s inner circle worked to cover up signs of mental decline in the elderly leader – and whether executive actions signed via autopen were done without his awareness.

Dunn is appearing voluntarily before the committee’s lawyers for a transcribed interview. It’s expected to begin around 10 a.m. and will likely last several hours into the afternoon.

Three of the 10 former Biden administration officials who have appeared so far have come under subpoena, and each pleaded the Fifth Amendment to avoid answering material questions.

Appearing voluntarily does not give people the ability to invoke the constitutional right against self-incrimination, but it’s possible Dunn will give House investigators little to work with.

The six former White House aides who appeared voluntarily before her have all defended Biden’s mental acuity and ability to serve as president, sources said, even as some, like ex-Chief of Staff Ron Klain, have conceded the 82-year-old’s age has worn on him over time.

Dunn, like those who appeared before her, has known Biden for years.

She’s been a key player in Democratic communications and public relations strategies for decades, and reportedly was a central figure in Biden’s messaging strategy both at the White House and during his short-lived 2024 campaign.

‘She’s running everything,’ one unnamed White House advisor told CNN in June 2023 while discussing Biden’s re-election bid.

A January 2023 report by NBC News described Dunn and her husband, former Obama administration White House counsel Robert Bauer, as central figures in Biden’s orbit. Bauer also reportedly served as Biden’s personal lawyer.

‘If it’s a room of five people, Anita and Bob are two of them,’ an unnamed former White House aide told the outlet.

Dunn was also a central figure amid the fallout after Biden’s disastrous June 2024 debate against then-candidate Donald Trump.

NBC News reported in July 2024 that Biden family members discussed whether he should fire Dunn and Bauer, though White House chief of staff Jeff Zients dismissed the reports as ‘unfounded and insulting rumors’ in a statement to the outlet at the time.

Dunn served as White House communications director under former President Barack Obama, and Biden brought her onto his 2020 campaign to help with his own communications strategy.

She also served as senior advisor to the president for communications in the Biden White House before playing a key role in his 2024 campaign.

Comer wrote in his letter summoning Dunn, ‘You served as former President Biden’s ‘most senior communications adviser.’ Former President Biden confided in you extensively over the past decade.’

‘The Committee seeks to understand your observations of former President Biden’s mental acuity and health as one of his closest advisors. If White House staff carried out a strategy lasting months or even years to hide the chief executive’s condition—or to perform his duties—Congress may need to consider a legislative response,’ Comer wrote.

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Veteran Democratic operative Anita Dunn is on Capitol Hill on Thursday for a closed-door interview with House Oversight Committee investigators.

Arriving minutes before 10 a.m. with her counsel in tow, Dunn did not speak to reporters on her way into the door despite a myriad of shouted questions being thrown at her about her upcoming interview.

She is the tenth former White House official to appear before the panel’s lawyers, as Committee Chair James Comer, R-Ky., probes whether former President Joe Biden’s inner circle worked to cover up signs of mental decline in the elderly leader – and whether executive actions signed via autopen were done without his awareness.

Dunn is appearing voluntarily before the committee’s lawyers for a transcribed interview that will likely last several hours into the afternoon.

Three of the 10 former Biden administration officials who have appeared so far have come under subpoena, and each pleaded the Fifth Amendment to avoid answering material questions.

Appearing voluntarily does not give people the ability to invoke the constitutional right against self-incrimination, but it’s possible Dunn will give House investigators little to work with.

The six former White House aides who appeared voluntarily before her have all defended Biden’s mental acuity and ability to serve as president, sources said, even as some, like ex-Chief of Staff Ron Klain, have conceded the 82-year-old’s age has worn on him over time.

Dunn, like those who appeared before her, has known Biden for years.

She’s been a key player in Democratic communications and public relations strategies for decades, and reportedly was a central figure in Biden’s messaging strategy both at the White House and during his short-lived 2024 campaign.

‘She’s running everything,’ one unnamed White House advisor told CNN in June 2023 while discussing Biden’s re-election bid.

A January 2023 report by NBC News described Dunn and her husband, former Obama administration White House counsel Robert Bauer, as central figures in Biden’s orbit. Bauer also reportedly served as Biden’s personal lawyer.

‘If it’s a room of five people, Anita and Bob are two of them,’ an unnamed former White House aide told the outlet.

Dunn was also a central figure amid the fallout after Biden’s disastrous June 2024 debate against then-candidate Donald Trump.

NBC News reported in July 2024 that Biden family members discussed whether he should fire Dunn and Bauer, though White House chief of staff Jeff Zients dismissed the reports as ‘unfounded and insulting rumors’ in a statement to the outlet at the time.

Dunn served as White House communications director under former President Barack Obama, and Biden brought her onto his 2020 campaign to help with his own communications strategy.

She also served as senior advisor to the president for communications in the Biden White House before playing a key role in his 2024 campaign.

Comer wrote in his letter summoning Dunn, ‘You served as former President Biden’s ‘most senior communications adviser.’ Former President Biden confided in you extensively over the past decade.’

‘The Committee seeks to understand your observations of former President Biden’s mental acuity and health as one of his closest advisors. If White House staff carried out a strategy lasting months or even years to hide the chief executive’s condition—or to perform his duties—Congress may need to consider a legislative response,’ Comer wrote.

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First Quantum Minerals (TSX:FM,OTC Pink:FQVLF) has locked in a US$1.0 billion cash infusion through a gold streaming agreement with RGLD Gold AG, a wholly owned subsidiary of Royal Gold (NASDAQ:RGLD).

The Vancouver-based firm announced on Tuesday (August 5) that the streaming agreement is tied to its Zambian operations, covering future gold deliveries linked to copper output at its Kansanshi mine.

“Following a thorough evaluation of several deleveraging options, I am pleased to announce this milestone transaction which preserves exposure to all of the copper production at Kansanshi while still maintaining exposure to the majority of the Company’s gold production,” said First Quantum CEO Tristan Pascall in a press release.

“It is pleasing to form a new partnership with Royal Gold which is a strong endorsement of the operations at Kansanshi and its multi-generational ore body as well as Zambia as a leading African mining jurisdiction,” Pascall added.

The agreement provides First Quantum with long-term, unsecured capital that does not increase its debt load. Proceeds will be used for capital expenditures and repayment of existing bank loans. Furthermore, the company said that the transaction is expected to materially lower its net debt-to-EBITDA ratio.

While the arrangement commits First Quantum to deliver gold based on a formula tied to copper production, the company retains most of its gold upside.

Based on its 2026 and 2027 production forecasts, approximately 84 percent of its total gold output will still be exposed to spot market pricing. The company also retains full exposure to newly discovered near-surface gold zones at Kansanshi.

Under the terms of the agreement, First Quantum will deliver gold to Royal Gold on a stepdown basis: 75 ounces of gold for every million pounds of recovered copper produced until 425,000 ounces have been delivered, 55 ounces per million pounds for the next 225,000 ounces, and 45 ounces per million pounds thereafter.

First Quantum will receive 20 percent of the spot gold price per ounce delivered, rising to 35 percent if it secures a BB credit rating or maintains a net leverage ratio of 2.25x or lower for three straight quarters starting Q1 2026.

The deal also includes two optional acceleration provisions, allowing First Quantum to reduce future delivery commitments. The company can cut delivery thresholds by up to 20 percent at a value of up to US$200 million once it reaches the BB rating or leverage target.

A further 10 percent reduction, worth US$100 million, is possible upon achieving a leverage ratio of 1.25 times over four consecutive quarters, subject to meeting certain operational conditions.

The gold streaming deal is part of First Quantum’s continued efforts to strengthen its finances after recent setbacks at the Cobre Panamá mine.

In May, the company announced it had received government approval in Panama for its Preservation and Safe Management program at the Cobre Panamá mine. The approval enables the company to carry out environmental and safety measures funded through the export of 121,000 dry metric tons of copper concentrate currently stored on site.

The program does not represent a restart of full operations, but allows First Quantum to maintain the site and manage its obligations in line with Panamanian government requirements.

On the other hand, the deal also deepens Royal Gold’s exposure to a major African copper-gold asset at a time when the streaming and royalty company is making moves to expand its portfolio.

Just last month, Royal Gold announced a pair of major acquisitions: a US$3.5 billion all-share deal to acquire Sandstorm Gold (TSX:SSL)and a separate US$196 million cash deal for Horizon Copper (TSXV:HCU).

The transactions, announced in July, would create a streaming and royalty giant with 393 assets across six continents—including 80 that are currently cash-flowing.

Shares of First Quantum were up slightly in Tuesday trading following the announcement.

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

This post appeared first on investingnews.com

In the latest show of federal support for domestic uranium production, Uranium Energy (NYSEAMERICAN:UEC) Sweetwater uranium complex in Wyoming has been designated for expedited permitting under the Trump administration’s FAST-41 initiative.

The designation, announced August 5, places Sweetwater on the Federal Permitting Improvement Steering Council’s FAST-41 dashboard, a move that aims to accelerate environmental reviews and interagency approvals under a framework established by the 2015 Fixing America’s Surface Transportation (FAST) Act.

The initiative is part of the Trump administration’s strategy to revitalize the US nuclear fuel supply chain and reduce reliance on imports from geopolitical rivals.

“Sweetwater’s selection under FAST-41 reinforces its national importance as a key project to achieve the United States’ goals of establishing reliable infrastructure, supporting nuclear fuel independence,” said UEC President and CEO Amir Adnani in a statement.

“On completing this tack-on permitting initiative, Sweetwater will be the largest dual-feed uranium facility in the United States, licensed to process both conventional ore and ISR resin.”

Located in Wyoming’s Great Divide Basin, the Sweetwater complex is anchored by a fully licensed conventional uranium mill with a capacity of 3,000 metric tons per day and a licensed annual output of 4.1 million pounds.

The site previously included several permitted mines—Sweetwater (Red Desert), Big Eagle, and Jackpot (Green Mountain)—that were approved for conventional methods but will now be evaluated for In-Situ Recovery (ISR) mining, a lower-impact extraction technique.

The new permitting push will allow UEC to modify existing approvals to incorporate ISR capabilities both within and beyond the current mine boundary, including on adjacent federal lands managed by the Bureau of Land Management (BLM).

The BLM, under the Department of the Interior, is the lead permitting agency for the initiative.

“This will provide the Company unrivaled flexibility to scale production across the Great Divide Basin, leveraging UEC’s leading domestic resource base,” Adnani added.

Sweetwater is the second uranium project to receive fast-track treatment under the new policy, following Anfield Energy TSXV:AEC,OTCQB:ANLDF) Velvet-Wood project in Utah, which was granted the status in May.

Velvet-Wood was the first uranium asset to be placed on the FAST-41 dashboard. It is expected to supply uranium for both civilian nuclear energy and defense applications, as well as vanadium, a strategic metal used in batteries and alloys.

Anfield’s Velvet-Wood received accelerated environmental review under a January 20 declaration by President Trump, which cited a national energy emergency and called for urgent steps to restore American energy independence. According to Anfield, the review timeline was cut from what could have taken years to just 14 days.

Taken together, the two fast-tracked uranium projects are a display of a wider federal pivot toward rebuilding a domestic nuclear supply chain, which has withered in recent decades amid low prices and competition from Russia, China, and other state-backed producers.

“I am excited to welcome the Sweetwater Complex to the FAST-41 transparency dashboard in support of President Trump’s goal of unlocking America’s mineral resources,” said Emily Domenech, Executive Director of the Federal Permitting Improvement Steering Council.

The White House confirmed in April that 10 mining projects had been selected so far under the initiative, covering minerals such as copper, gold, lithium, phosphate, potash, and uranium.

With Sweetwater, UEC will operate three hub-and-spoke uranium platforms in the United States: one in South Texas, another in Wyoming’s Powder River Basin, and the Sweetwater Complex in the Great Divide Basin.

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

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Australia could benefit from redirected global capital flows in the wake of new US tariffs under President Donald Trump — but only if it maintains its commitment to open markets, according to the country’s Productivity Commission.

In its latest Trade and Assistance Review, the commission warns against retaliatory trade measures, noting such moves would come at a cost. Deputy Chair Alex Robson has cautioned that escalation could “spiral into a broader trade war” with serious consequences for Australia and the global economy.

“Increasing our direct barriers to trade and investment, even if in retaliation, would come at a cost,” the review reads.

The report also highlights that Australia is facing its highest level of economic uncertainty since the COVID-19 pandemic. However, it notes that some of the proposed trade measures from the US could have a modest, positive effect on Australian production if the country stays on its current path.

Tariff reforms

According to the Productivity Commission, Australia is leaning toward abolishing 457 tariffs in 2025.

Still, it strongly suggests that even nuisance tariffs must go, with a total of 300 identified by the commission.

“(We believe) generate little revenue and impose high costs on business … We estimate that, in 2023-2024, the tariff regime imposed compliance costs of between AU$1.3 billion and AU$4 billion, while collecting AU$2 billion in revenue.”

The commission also illustrated the effects of abolishing tariffs, saying that this move will lead to maximizing benefits to Australian production.

“For example, if the US imposed a 10 percent tariff on all imports and Australia retaliated alongside other countries by imposing a 10 percent tariff on imports from the US, Australian GDP would be 0.14 percentage points lower than if Australia chose not to retaliate.”

In a separate analysis by Austaxpolicy, this aspect of the report was also highlighted, underlining how cheaper imports from the rest of the world, an outflow of productive capital from the US and highly tariffed economies could slightly increase Australian production.

Industry assistance

The Australian Government’s Future Made in Australia (FMIA) Act commenced in 2024, and the mining and resource industry has seen a wave of grants and support since.

“(We) found that the costs of FMIA interventions can be minimised through using alternatives or complements to domestic production. Such policy options could be explicitly considered as part of the legislated sector assessments process.”

On February 12, Australia passed the Critical Minerals Production Tax Incentive, which will provide a refundable tax credit on 10 percent of eligible costs associated with the production of critical minerals and rare earths.

“The incentives are valued at AU$7 billion over the decade,” said Federal Resources Minister Madeleine King, calling the legislation a “historic moment” for the industry.

Last April 23, Western Australia announced another round of successful applicants for its Exploration Incentive Scheme (EIS).

Among the 49 drill funding recipients are Wildcat Resources’ (ASX:WC8,OTC Pink:WDCTF) Tabba Tabba project and Western Mines Group’s (ASX:WMG) Mulga Tank, which are targeting critical minerals such as lithium, nickel and copper.

Together, all 49 companies will receive a total of AU$7.8 million as drill funding to 49 projects, while AU$3.2 million will be spread across 25 geophysics ventures. The remaining AU$200,000 will be divided between three projects under the EAP.

Australia’s Commonwealth Scientific and Industrial Research Organisation (CSIRO) also opened its doors with a new graphite research and development (R&D) program to assist small-to-medium-sized enterprises.

The initiative will allow eligible enterprises to receive up to AU$50,000 per project and collaborate with CSIRO scientists, and access quality facilities.

Expressions of interest are open until March 30, 2026.

All these and more funding efforts, according to the Productivity Commission, fall under the “behind the border” assistance, which it expects to grow further under the FMIA initiative.

“As these traditional forms of ‘at-the-border’ trade protections have receded, the relative importance of ‘behind-the-border’ industry assistance such as budgetary assistance and concessional finance has grown,” the commission explains.

Mining and numbers

According to the report, mining is among the “favoured” industries, with research and development measures as the main type of budgetary assistance.

Majority, as in 87.4 percent, of mining assistance is delivered through R&D, which is undeniable given the number of grants and government funding programs for the sector.

The commission did note that mining, alongside services, received a lower share of assistance than their share of the economy, despite receiving the greatest share of budgetary assistance in absolute terms.

For the period of 2023 to 2024, the commission found that mining remains the top destination sector for foreign direct investment (FDI) inbound to Australia, equivalent to 15 percent of gross domestic product (GDP).

However, this amount falls short of the sector’s five-year average, which is 17 percent.

It was also noted that the United States remains the largest source of FDI inbound to Australia. Following its lead are the United Kingdom, Japan, Canada and China, with their FDI equivalent to 24.8 percent of GDP.

Recent news

August opened in Australia with news that it is not listed as a country hit with a higher ‘reciprocal’ tariff under Trump’s executive order.

Trump’s tariffs on the country will remain, still on the price of 10 percent.

Minister for Trade and Tourism Don Farrell was quoted by News.com.au saying that US Commerce Secretary Howard Lutnick has been invited to Australia for continued discussions, underlining that Australia will continue to advocate for a tariff exemption.

“We believe in free and fair trade, and we will continue to put the argument to the US that they should remove all tariffs on Australian products in accordance with our free trade agreement, and we will continue to prosecute that argument.”

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

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Here’s a quick recap of the crypto landscape for Wednesday (August 6) 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$114,217, down by 0.8 percent over the last 24 hours. Its highest valuation on Wednesday was US$112,770, while its lowest valuation was US$114,830.

Bitcoin price performance, August 6, 2025.

Chart via TradingView

Bitcoin is showing signs of support between US$117,000 and US$118,000, with technical analysts suggesting a possible rebound toward resistance levels at US$120,250 and beyond, if bullish momentum builds.

However, sentiment remains cautious amid ongoing interest rate uncertainty, macroeconomic pressures and ETF outflows, all of which are weighing on near-term price action.

Ethereum (ETH) was priced at US$3,619.63, down by 1.4 percent over the past 24 hours. Its lowest valuation on Wednesday was US$3,557.78, and its highest was US$3,673.

Altcoin price update

  • Solana (SOL) was priced at US$164.44, down by 3.9 percent over 24 hours. Its lowest valuation on Wednesday was US$161.45, and its highest was US$170.84.
  • XRP was trading for US$2.95, down by 3.8 percent in the past 24 hours. Its lowest valuation of the day was US$2.91, and its highest valuation was US$3.06.
  • Sui (SUI) is trading at US$3.41, down 4.2 percent over the past 24 hours. Its lowest valuation of the day was US$3.34, and its highest was US$3.55.
  • Cardano (ADA) was trading at US$0.7274, down by 3.2 percent over 24 hours. Its lowest valuation on Wednesday was US$0.7117, and its highest was US$0.751.

Today’s crypto news to know

Bitcoin ETFs see four days of outflows as stagflation fears ramp up

Spot bitcoin ETFs in the US recorded net outflows for the fourth day in a row, shedding nearly US$200 million on Tuesday alone.

Fidelity’s FBTC and BlackRock’s IBIT were the biggest sources of withdrawals, contributing to a total outflow of US$1.46 billion since last Thursday.

The trigger appears to be rising concerns around stagflation, following weaker-than-expected US service sector data.

The ISM Non-Manufacturing PMI pointed to slowing growth, declining employment, and rising prices, which represents a toxic mix for risk assets like crypto and tech stocks.

Bitcoin slipped below US$113,000 before recovering slightly, while the Nasdaq also dropped 0.7 percent on the day.

Meanwhile, bets on Federal Reserve rate cuts are growing, but uncertainty remains high.

SBI Files Japan’s first Bitcoin–XRP ETF application

Japanese financial giant SBI Holdings has filed for an ETF that includes both Bitcoin and XRP, aiming to offer regulated dual-crypto exposure in Japan.

The proposed product, revealed in SBI’s Q2 earnings report, would allow investors to track the performance of both assets in a single fund, a rare pairing in the global ETF space.

A second ETF proposal, the Digital Gold Crypto ETF, blends over 50% exposure to traditional gold ETFs with crypto assets backed by gold. This hybrid structure targets more conservative investors looking for crypto upside with commodity stability.

If approved, this would mark the first time XRP is included in a regulated ETF product in Japan, as it continues to face institutional barriers in the US due to its regulatory history.

Liquid staking is not a securities offering — SEC clarifies

In a major development for the crypto industry, the SEC’s Division of Corporation Finance stated that certain types of liquid staking do not constitute the sale of securities, according to a statement.

Specifically, tokenized staking receipt products, such as staked ETH derivatives, are not considered investment contracts unless they’re bundled into schemes that meet the legal definition.

This clarification provides a green light for platforms offering protocol-level staking services without requiring registration. Liquid staking allows users to earn rewards while still being able to trade or use a representative token, maintaining asset flexibility.

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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