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Democratic Rep. Sarah McBride of Delaware, who identifies as a transgender woman, accused President Donald Trump of waging an attack against ‘American democracy.’

‘This president is taking notes from his favorite dictator. Let’s be clear: a president with popular policies wouldn’t need to illegally gerrymander districts, ban voting machines, or abolish vote-by-mail,’ a Monday night post on the lawmaker’s @Rep_McBride X account declared. ‘This is an all-out assault not just on free and fair elections—but on American democracy itself.’ 

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

Trump, who has been aiming to help bring an end to the Russia-Ukraine war, met with Ukrainian President Volodymyr Zelenskyy and multiple other European figures in Washington, D.C., on Monday after meeting with Russian President Vladimir Putin in Alaska on Friday.

During an interview with Fox News Channel’s Sean Hannity on Friday after meeting with Putin, Trump said of the foreign leader, ‘Vladimir Putin, smart guy, said you can’t have an honest… election with mail-in voting.’

Trump declared in a Truth Social post on Monday that he will ‘lead a movement to’ eliminate voting machines and mail-in balloting from U.S. elections.

‘WE WILL BEGIN THIS EFFORT … by signing an EXECUTIVE ORDER to help bring HONESTY to the 2026 Midterm Elections,’ he declared in part of the lengthy post.

‘ELECTIONS CAN NEVER BE HONEST WITH MAIL IN BALLOTS/VOTING, and everybody, IN PARTICULAR THE DEMOCRATS, KNOWS THIS. I, AND THE REPUBLICAN PARTY, WILL FIGHT LIKE HELL TO BRING HONESTY AND INTEGRITY BACK TO OUR ELECTIONS. THE MAIL-IN BALLOT HOAX, USING VOTING MACHINES THAT ARE A COMPLETE AND TOTAL DISASTER, MUST END, NOW!!!’ the president exclaimed in another portion of the post.

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After meeting with Russian President Vladimir Putin in Alaska last week, President Donald Trump touted that he had a ‘very good meeting’ with Ukrainian President Volodymyr Zelenskyy and other European leaders at the White House on Monday.

Trump, who has voiced he would like to put an end to mass bloodshed in Eastern Europe, called the multilateral meetings on Monday ‘a very good, early step for a War that has been going on for almost four years.’

In a Truth Social post after the discussions, Trump wrote, ‘I had a very good meeting with distinguished guests,’ and that ‘everyone is very happy about the possibility of PEACE for Russia/Ukraine.’

Here are the top five takeaways from the president’s ‘big day’ with European leaders.

1. Smiles all around

Monday’s summit marked a dramatic and noticeable shift from Trump and Vice President JD Vance’s now-infamous Oval Office meeting with Zelenskyy in February.

During that meeting, the leaders were caught on camera getting into a heated argument over several topics, including Zelenskyy allegedly not being sufficiently grateful for U.S. support.

On Monday, all the tension seemed to have disappeared. Both Trump and Zelenskyy were all smiles throughout the day, and the Ukrainian leader received a warm welcome from Trump’s Cabinet, including Vance, Secretary of State Marco Rubio and Defense Secretary Pete Hegseth.

Both Zelenskyy and European leaders appeared more at ease with Trump throughout the day and took an optimistic tone. After the meetings, European Union President Ursula von der Leyen posted on X, ‘We are here, as allies and friends, for peace in Ukraine and in Europe. This is an important moment, as we continue to work on strong security guarantees for Ukraine and a lasting and durable peace.’

2. Wardrobe upgrade

Another marked shift from February was Zelenskyy breaking from his trademark jumpsuit attire to wear a suit, something he even joked with the press about while sitting in the Oval Office with Trump.

Zelenskyy, who has been criticized for wearing casual attire to meetings with world leaders, wore all-black attire, including a button-down shirt and jacket. 

‘First of all… President Zelenskyy, you look fabulous in that suit,’ a reporter told Zelenskyy after he sat down with Trump in the Oval Office. 

‘You look good,’ the reporter said before Trump added, ‘I said the same thing.’ 

At another point during the Zelenskyy-Trump bilateral press meeting, the Ukrainian president ribbed a reporter for wearing the same suit he had in February.

‘You’re in the same suit. You see, I changed, you’re not,’ Zelenskyy quipped as both he and Trump burst into laughter.

3. Ceasefire not needed

On a more substantive note, Trump doubled down on his position that a ceasefire is ‘not needed’ to broker a permanent peace between Ukraine and Russia. He cited his recent successes in negotiating peace agreements between other countries across the globe.

‘I don’t think you need ceasefire. You know, if you look at the six deals that I settled this year, they were all at war,’ Trump said during his press conference with Zelenskyy.

‘I didn’t do any ceasefires,’ he went on, adding, ‘And I know that it might be good to have, but I can also understand strategically why, you know, one country or the other wouldn’t want it.’ 

In a rare tense moment during the day, Trump clashed with German Chancellor Friedrich Merz over the need for a ceasefire.

Speaking with Trump and other leaders gathered around a large conference table in the White House, Merz said, ‘To be honest, we all would like to see a ceasefire at the latest from the next meeting on,’ adding, ‘I can’t imagine that the next meeting would take place without a ceasefire. So, let’s work on that.’

He urged the leaders, ‘Let’s try to put pressure on Russia, because the credibility of this effort, these efforts we are undertaking today are depending on, at least, a ceasefire from the beginning of the serious negotiations from the next step on. So, I would like to emphasize this aspect and would like to see a ceasefire from the next meeting, which should be a trilateral meeting wherever it takes place.’

In response, Trump shot back that he is determined ‘to go directly to a peace agreement’ without a ceasefire, saying, ‘Well, we’re going to let the president [Zelenskyy] go over and talk to the president [Putin], and we’ll see how that works out.’

4. United European front

In addition to Zelenskyy, seven major European leaders were present at the White House on Monday, a rare occurrence signaling a united European front and something Trump called an ‘honor’ for the U.S.

This follows Zelenskyy doubling down on Sunday that Ukraine will not agree to cede Crimea or any of its territory to Russia as part of a peace deal.  

‘Since the territorial issue is so important, it should be discussed only by the leaders of Ukraine and Russia at the trilateral [talks with] Ukraine, United States, Russia,’ Zelenskyy said.

Trump said that though the U.S. would be involved with providing Ukraine with security guarantees after the war’s end, he said going forward, Europe must take much of that ‘burden.’

‘I think that the European nations are going to take a lot of the burden,’ Trump said. ‘We’re going to help them, and we’re going to make it very secure. We also need to discuss the possible exchanges of territory, taking into consideration the current line of contact. That means the war zone, the war line center. Pretty obvious. Very sad, actually, to look at them and negotiating positions.’

Meanwhile, French President Emmanuel Macron said Europe is aware that it will shoulder much of the weight of responsibility tied to various security guarantees — and acknowledged it is necessary in order to preserve each respective country’s safety. 

‘In order to have such a long-standing peace for Ukraine and for the whole continent, we do need the security guarantees,’ Macron said. ‘And the first one is clearly a credible Ukrainian army. For the years and decades to come. And the second one is our own commitments. All of us… You can be sure that the Europeans are very lucid about the fact that they have their fair share in the security guarantees for Ukraine, but their own security is clearly at stake in this situation.’

5. Putin on the line

Trump shared that he called Putin after the meetings and that there is already movement on the next step, that is, scheduling a meeting between Zelenskyy and the Russian president. After that meeting, Trump said there would then be a trilateral meeting between Zelenskyy, Putin and himself.

‘At the conclusion of the meetings, I called President Putin, and began the arrangements for a meeting, at a location to be determined, between President Putin and President Zelenskyy. After that meeting takes place, we will have a Trilat, which would be the two Presidents, plus myself,’ wrote Trump.

In another post, Trump called the summit ‘a big day at the White House.’

‘We have never had so many European Leaders here at one time. A great honor for America!!!’ he wrote. ‘Lets see what the results will be???’ 

Fox News Digital’s Diana Stancy, Emma Colton and Amanda Macias contributed to this report.

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

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

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

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

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

Trump outlines next steps

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

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

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

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

Security guarantees under discussion

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

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

Land swaps may be on the table 

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

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

Russia’s categorical rejection

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

European leaders weigh in

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

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

Fox News’ Jacqui Heinrich contributed to this report. 

This post appeared first on FOX NEWS

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

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

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

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

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

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

About Allied Critical Metals Inc.

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

Please visit our website at www.alliedcritical.com.

Also visit us at:

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

ON BEHALF OF THE BOARD OF DIRECTORS

Per: ‘Roy Bonnell’

Roy Bonnell
Chief Executive Officer and Director

Contact Information

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

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

Cautionary Statement Regarding Forward-Looking Information

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

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

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

News Provided by Newsfile via QuoteMedia

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

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

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

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

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

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

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

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

1. Talon Metals (TSX:TLO)

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

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

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

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

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

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

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

2. Leading Edge Materials (TSXV:LEM)

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

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

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

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

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

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

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

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

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

3. Wheaton Precious Metals (TSX:WPM)

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

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

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

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

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

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

4. FPX Nickel (TSXV:FPX)

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

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

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

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

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

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

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

5. Nickel 28 Capital (TSXV:NKL)

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

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

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

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

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

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

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

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

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

FAQs for cobalt

What is cobalt?

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

What is cobalt used for?

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

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

Where is cobalt mined?

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

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

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

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

This post appeared first on investingnews.com

Questcorp Mining Inc. (CSE: QQQ,OTC:QQCMF) (OTCQB: QQCMF) (FSE: D910) (the ‘Company’ or ‘Questcorp’) is pleased to announce they have completed 25% of the planned drilling program on its La Union Project in northwest Sonora, Mexico. This work is being carried out by property vendor and operator Riverside Resources Inc. (TSXV: RRI).

Highlights

  • The Company has completed 300 metres of the planned drill program of 1200 to 1500m.
  • Drilling to test the carbonate-hosted replacement deposit (CRD) style of mineralization, with gold associated with mantos, chimneys, and along structural zones.
  • Angled drill holes are aimed at cutting perpendicular to stratigraphic targets and some structural targets which is typical in CRD systems
  • Structural features may have served as mineralizing conduits and are key targets in the current drill program.

Questcorp is capitalizing on the recent exploration work over the past three months by Riverside that improved the understanding of the structural geology and stratigraphy that is guiding current exploration efforts at La Union. The exploration target focus is for a large potential gold discovery that expands from previous smaller scale mine operations on the property. The drill program will begin to test the new concepts and expand past previous mining.

Saf Dhillon, President & CEO states, ‘Questcorp is pleased with the progress being made at this first ever drill program at La Union. The Riverside team has been able to work throughout these hot summers months to enable the successful completion of this Maiden drill.

Earlier this year, Questcorp entered into a definitive option agreement with Riverside’s wholly owned subsidiary, RRM Exploracion, S.A.P.I. DE C.V. to acquire a 100% interest in the La Union Project. As part of the agreement, Questcorp issued shares to Riverside, making Riverside a shareholder and aligning both parties’ interests in the Project’s success. With funding provided by Questcorp, an initial C$1,000,000 exploration program is now underway. This marks the first phase of a larger, C$5,500,000 work commitment, contingent on exploration results and Questcorp’s continued participation.

The Drill Program Targets include more than four different areas, beginning with this early-stage stratigraphic and orientation phase of drilling exploration aimed at evaluating the scale of alteration and indications of a mineralized system. This will be the first drilling ever conducted on most of the targets, despite past mining having occurred in the majority of these areas. The initial program will consist of one to three holes per area, primarily for orientation purposes. Follow-up drilling is planned and can be expanded based on initial results, which will help verify the stratigraphy, lithologies, and structural features allowing for improved modeling and next-stage discovery targeting. The four areas are listed below:

  • Union Main Mine Area – The program will use angled drill holes to test limestone and other carbonate stratigraphic hosts within the Clemente Formation, with the potential to reach the underlying Caborca Formation. These units are considered the primary hosts for replacement-style mineralization.
  • North Union Mine Area – The initial focus of the program will be on testing structural interpretations. Additional drilling is anticipated following this first phase, as results will help guide future drill testing of areas with past mining activity and various structural orientations.
  • Cobre Mine Area – The Clemente Formation is the primary host unit, and structural features combined with areas of past mining provide multiple target zones. Drilling will begin with an initial stratigraphic test hole to help orient around the thickness of the host unit and extend into the lower Caborca Formation, which is also a favorable host for CRD-style mineralization.
  • Central Union Area – Structural targets, as possible mineralization feeder zones, are a key focus in this past mining manto area. There are extensive additional target zones in the area, and this initial orientation drilling will provide vectoring for the next stage of drilling and further study of the Clemente Formation, and possibly into the Caborca Formation as currently interpreted.

General Overview of La Union Project

The Project is summarized in a recently published NI 43-101 Technical Report available under Questcorp’s SEDAR+ profile (www.sedarplus.ca). Riverside initially acquired the Project and subsequently consolidated additional inlier mineral claims, building a strong land position. Riverside then advanced the Project through surface access agreements and drill permitting, making it a turn-key exploration opportunity for Questcorp.

The Project was originally identified through Riverside’s exploration work in the western Sonora Gold Belt, conducted in collaboration with AngloGold Ashanti Limited, Centerra Gold Inc., and Hochschild Mining Plc. Earlier research by Riverside Founder John-Mark Staude also contributed to recognizing the district’s potential. Initial work by members of the Riverside team, drawing on more than two decades of geological compilation and analysis, further confirmed the region as highly prospective.

At the Project, historical mining by the Penoles Mining Company targeted chimney and manto-style replacement bodies within the upper oxide zones. As a result, the underlying sulfide zones represent immediate and compelling drill targets for further exploration.

At the La Union Project, immediate drill targets offer the potential for significant-scale discoveries. La Union is well positioned for near-term exploration success, with targets that include both oxide and deeper sulfide mineralization.

The La Union Project

The La Union Project is a carbonate replacement deposit (‘CRD’) project hosted by Neoproterozoic sedimentary rocks (limestones, dolomites, and siliciclastic sediments) overlying crystalline Paleoproterozoic rocks of the Caborca Terrane. The structural setting features high-angle normal faults and low-to-medium-angle thrust faults that sometimes served as mineralization conduits. Mineralization occurs as polymetallic veins, replacement zones (mantos, chimneys), and shear zones with high-grade metal content, as shown in highlight grades of 59.4 grams per metric tonne (g/t) gold, 833 g/t silver, 11% zinc, 5.5% lead, 2.2% copper, along with significant hematite and manganese oxides, consistent with a CRD model (see the technical report entitled ‘NI 43-101 Technical Report on the Union Project, State of Sonora, Mexico’ dated effective May 6, 2025 available under Questcorp’s SEDAR+ profile). These targets also demonstrate intriguing potential for large gold discoveries potentially above an even larger porphyry Cu district potential as the Company’s target concept at this time.

Questcorp cautions investors that grab samples are selective by nature and not necessarily indicative of similar mineralization on the property.

The technical and scientific information in this news release has been reviewed and approved by R. Tim Henneberry, P. Geo (BC), a director of the Company and a ‘qualified person’ under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Questcorp Mining Inc.

Questcorp Mining Inc. is engaged in the business of the acquisition and exploration of mineral properties in North America, with the objective of locating and developing economic precious and base metals properties of merit. The Company holds an option to acquire an undivided 100% interest in and to mineral claims totaling 1,168.09 hectares comprising the North Island Copper Property, on Vancouver Island, British Columbia, subject to a royalty obligation. The Company also holds an option to acquire an undivided 100% interest in and to mineral claims totaling 2,520.2 hectares comprising the La Union Project located in Sonora, Mexico, subject to a royalty obligation.

Contact Information

Questcorp Mining Corp.

Saf Dhillon, President & CEO

Email: saf@questcorpmining.ca
Telephone: (604) 484-3031

This news release includes certain ‘forward-looking statements’ under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to Riverside’s arrangements with geophysical contractors to undertake orientation surveys and follow up detailed survey to confirm and enhance the drill targets. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include but are not limited to: the ability of Riverside to secure geophysical contractors to undertake orientation surveys and follow up detailed survey to confirm and enhance the drill targets as contemplated or at all, general business, economic, competitive, political and social uncertainties, uncertain capital markets; and delay or failure to receive board or regulatory approvals. There can be no assurance that the geophysical surveys will be completed as contemplated or at all and 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 should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/262984

News Provided by Newsfile via QuoteMedia

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Oversupply and trade concerns were the most impactful factors in the graphite market through the first half of 2025.

China’s control of much of the market also came into focus as the US launched an investigation into the security of numerous supply chains including anodes which are key end use for graphite.

Heading into 2025, the graphite market was expected to see continued divergence between China and ex-China regions. The split was further hampered by a glut in the market.

As such prices for graphite fell by 10-20 percent in 2024, as noted in an International Energy Agency report.

Analysts anticipated domestic Chinese prices to remain low, while US and European benchmarks were forecasted to climb as supply shifts away from China create tighter markets.

While excess inventory and high supply levels were forecasted to keep prices under pressure in the first half of 2025, analysts aren’t ruling out a moderate recovery in the second half as inventories normalize, though competition from synthetic graphite could limit gains.

Graphite prices hit multi-year lows

Caught in the cross hairs of tariff troubles between US and China, graphite prices fell to their lowest levels since 2018, according to Fastmarkets.

In January, The US Department of Commerce officially launched anti-dumping (AD) and countervailing duty (CVD) investigations into imports of active anode material from China, following petitions filed by the American Active Anode Material Producers (AAMP) in mid-December 2024.

These probes stem from concerns that Chinese producers are unfairly undercutting domestic manufacturers through subsidized or dumped pricing.

“The new antidumping and countervailing duty investigation on active anode imports from China demonstrates that the anode production is the most challenging part of the battery supply chain for the US to compete with China,” wrote Fastmarkets Georgi Georgiev in a February report.

He added: “The existing 25 percent tariff has had limited impact on anode imports from China, demonstrating that currently Chinese anode makers remain the cornerstone of global anode supply chains.”

In May, the Department of Commerce issued an affirmative preliminary finding in its countervailing duty probe, identifying subsidy rates as high as 721 percent for some producers, while others faced rates near 6.55 percent.

In the related anti-dumping investigation, a July 17 preliminary determination confirmed dumping, and a provisional 93.5 percent duty was imposed.

If both Commerce and the US International Trade Commission deliver final affirmative decisions, steep duties could be imposed as soon as fall 2025 and remain in place for at least five years.

Supply and demand woes intensify

Despite natural graphite mined supply growing year over year from 2020’s 966,000 metric tons to 1,600,000 metric tons in 2024, concerns abound about future supply.

“Rare earth elements appear to be sufficiently supplied in 2035 based on the project pipeline. However, supply concentration for rare earths and graphite remains a key vulnerability,” a recent IEA report read.

The energy oversight agency expects graphite demand to double between now and 2040, driven by an uptick in eclectic vehicle demand.

To ensure ample supply is available, the IEA recommends broad growth outside of China up and down the supply chain.

“Diversification is the watchword for energy security, but the critical minerals world has moved in the opposite direction in recent years, particularly in refining and processing. Between 2020 and 2024, growth in refined material production was heavily concentrated among the leading suppliers,” it read.

Refining capacity for critical minerals has become increasingly concentrated, with graphite among the most affected. By 2024, the top three refining nations controlled an average of 86 percent of global output for key energy minerals, up from about 82 percent in 2020.

In graphite’s case, China dominates the sector, accounting for nearly all recent supply growth, a trend mirrored by Indonesia in nickel and China again in cobalt and rare earths.Despite China’s stronghold of the market, the IEA sees that weakening over the next decade.

“There is some diversification emerging in the mining of lithium, graphite and rare earth elements. The share of mined lithium supply from the top three producers is set to fall below 70 percent by 2035, down from over 75 percent in 2024,” the IEA states. “ Graphite and rare earth elements also see some improvement as new mining suppliers emerge over the next decade – Madagascar and Mozambique for graphite and Australia for rare earths.”

While mine supply diversification is a positive first step, growth in refinement and processing capacity is unlikely to see the same ex-China growth trends.

The IEA expects refining capacity for critical minerals to remain heavily concentrated well into the next decade, with graphite among the most tightly controlled.

Although some diversification is emerging for lithium and select minerals, China’s dominance shows little sign of waning. By 2035, the country is projected to supply roughly 80 percent of the world’s battery-grade graphite, alongside similar market shares in rare earths, and more than 60 percent of refined lithium and cobalt.

Tariff battle shakes anode supply chain

To counter China’s control the US is moving aggressively to curb reliance on Chinese graphite anodes, which account for more than 95 percent of global anode output.

Since June 2024, tariffs on Chinese synthetic graphite anodes have risen from zero to 160 percent — including the existing 25 percent Section 301 tariff and additional levies. North American producers have petitioned for duties as high as 920 percent.

Chinese producers initially absorbed much of the cost of early tariffs, but analysts expect they will pass more of the recent increases on to buyers.

US automakers and battery makers are bracing for higher costs, with trade data showing that all US graphite anode imports for the EV sector came from China in 2024.

China has responded with its own 84 percent import tariff on US petroleum coke and needle coke. While China has reduced reliance on US supply, it still sources about 30 percent of each from American producers, meaning higher costs for Chinese synthetic graphite and downstream anode products.

“US electric vehicle and battery producers have battled in recent years to keep US imports of graphite anodes from China tariff-free, but their efforts have proved futile over the past nine months and the trade status of graphite anodes has shifted dramatically,” Amy Bennett, principal consultant of metals and mining at Fastmarkets wrote in a May market report.

Fragility of supply

Global demand for battery-grade graphite is projected to surge by 600 percent over the next decade as the energy transition and electric vehicle (EV) adoption accelerate.

Yet, at today’s depressed prices, developing new supply outside China remains economically unviable — a challenge that’s fueling a looming supply crunch.

The US, which mines no natural graphite, was entirely dependent on imports to meet domestic demand in 2024, according to the US Geological Survey, leaving it and other non-China markets in a vulnerable position.

History offers a cautionary precedent: in 2010, rare earth prices spiked tenfold after China restricted exports.

Should a similar disruption hit lithium, nickel or graphite, prices could surge five to ten times, pushing average global battery pack costs up by 20 to 50 percent, the IEA warns.

Such a jump would erode EV affordability, slow adoption and threaten the pace of the clean energy transition.

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

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Iron ore prices have displayed volatility in the past half decade as the world has dealt with the economic uncertainty surrounding COVID-19 lockdowns, the Russia-Ukraine war, ongoing conflicts in the Middle East and rising trade tensions.

Prices for the base metal reached a record high of over US$220 per metric ton (MT) in May 2021, but that level wouldn’t hold for long as lower demand from China alongside rising supply levels caused prices to dropped drastically in late 2021.

Iron ore prices rebounded to trade in the US$120 to US$130 range in 2023, spurred on by supply issues in Australia and Brazil, as well as the Russia-Ukraine war; higher export duties in India and renewed demand from China have also contributed to the commodity’s higher prices.

However, that positive sentiment in the iron ore market evaporated in 2024 as the global economic outlook weakened on higher interest rates, lower demand and challenges in China’s property sector. After starting the year at a high of US$144 per MT, iron ore prices slid to finish out the year at about US$95.

A cyclical rebound in Chinese steel production in Q1 2025 did manage to push prices for the metal back above US$100 again to briefly touch US$107 per MT in February. However, in Q2 2025, China’s economic woes, a growing surplus in iron mine supply and steel and aluminum tariffs were responsible for pressuring iron ore prices back down below US$95 as of late June.

‘Geopolitical tensions have spurred some countries to explore alternative sources of iron ore, raising the profile of new geographic markets,” reports Fastmarket in its June 2025 iron ore market outlook. “The emergence of resource nationalism, where governments exert greater control over mineral resources, is further complicating trade. Policy changes in iron ore-consuming regions, driven by trade tensions and domestic priorities, have led to adjustments in global supply chains.”

To better understand the dynamics of the iron ore market, it’s helpful to know which countries are major producers. With that in mind, these are the top 10 for iron ore production by country in 2024, using the latest data provided by the US Geological Survey. Production data for public companies is sourced from the mining database MDO.

1. Australia

Usable iron ore: 930 million metric tons
Iron content: 580 million metric tons

Australia is the largest iron producing country by far, with usable iron ore production of 930 million metric tons in 2024. Australia’s leading iron ore producer is BHP Group (ASX:BHP,LSE:BHP,NYSE:BHP), and Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) and Fortescue (ASX:FMG,OTCQX:FSUMF) are also large iron producers.

The Pilbara region is the most notable iron ore jurisdiction in Australia, if not the world. In fact, Rio Tinto calls its Pilbara Blend ‘the world’s most recognised brand of iron ore.’ One of the company’s iron producing operations in the region is Hope Downs iron ore complex, a 50/50 joint venture with Gina Rinehart’s Hancock Prospecting. The complex hosts four open-pit mines with an annual production capacity of 47 million metric tons.

In June 2025, the partners announced a combined investment of US$1.6 billion to develop the Hope Downs 2 iron ore project, a part of the main JV. The project hosts the Hope Downs 2 and Bedded Hilltop deposits, which together will have a total annual production capacity of 31 million metric tons.

As for BHP, the major iron miner’s Western Australia Iron Operations joint venture comprise five mining hubs and four processing hubs. One such hub is Area C, which hosts eight open-cut mining areas alone. The company also has an operating 85 percent interest in the Newman iron operations.

2. Brazil

Usable iron ore: 440 million metric tons
Iron content: 280 million metric tons

In Brazil, iron production totaled 440 million metric tons of usable iron ore in 2024.

The largest iron ore districts in the country are the states of Pará and Minas Gerais, which together account for 98 percent of Brazil’s annual iron ore output. Pará is home to the largest iron ore mine in the world, Vale’s (NYSE:VALE) Carajas mine. Headquartered in Rio de Janeiro, Vale is the world’s biggest producer of iron ore pellets.

Vale announced plans in February 2025 to make significant investments in increasing its production at Carajas by 13 percent through 2030.

3. China

Usable iron ore: 270 million metric tons
Iron content: 170 million metric tons

China’s iron production amounted to 270 million metric tons of usable iron ore in 2024. The Asian nation is the world’s largest consumer of iron ore, despite being the third largest iron-producing country.

China’s top producing iron ore mine is the Dataigou iron mine in Laioning province, with production of 9.07 million metric tons in 2023. The underground mine is owned by Glory Harvest Group Holdings.

With China being the world’s largest producer of stainless steel, its domestic supply is not enough to meet demand. The country imports over 75 percent of global seaborne iron ore as of mid-2025.

3. India

Usable iron ore: 270 million metric tons
Iron content: 170 million metric tons

India’s iron production for 2024 totaled 270 million metric tons of usable iron ore, tying for third place with China.

India’s largest iron ore miner, NMDC (NSE:NMDC), operates the Bailadila mining complexes in Chhattisgarh state and the Donimalai and Kumaraswamy mines in Karnataka state. NMDC hit a production milestone in 2021 of 40 million metric tons per year, the first such company to do so in the country. NMDC is targeting an annual production rate of 100 million metric tons by 2030.

5. Russia

Usable iron ore: 91 million metric tons
Iron content: 53 million metric tons

Russia’s iron ore production came in at 91 million metric tons in 2024, making it the fifth largest iron-producing country in the world.

The region of Belgorod Oblast is home to two of the country’s biggest iron ore producing mines: Metalloinvest’s Lebedinsky GOK, which in 2023 produced an estimated 22.05 million metric tons of iron ore; and Novolipetsk Steel’s Stoilensky GOK, which that same year produced an estimated 19.56 million metric tons of iron ore.

In response to serious economic sanctions on the country over its aggressive war against Ukraine, Russia’s iron ore exports fell dramatically in 2022 to 84.2 million metric tons from 96 million metric tons in the previous year. Together, these two countries previously accounted for 36 percent of global iron or non-alloy steel exports. The European Union has restricted imports of Russian iron ore.

Last year, imports of iron ore from Russia to the EU seemingly fell off a cliff, dropping from 332,300 tons to 9,360 tons.

6. Iran

Usable iron ore: 90 million metric tons
Iron content: 59 million metric tons

Iran surpassed 90 million metric tons in iron production in the form of usable iron ore in 2024. The country’s iron output has been on the rise in recent years — now in sixth place, it was the eighth highest iron producer in 2022 and the 10th in 2021.

One of Iran’s most important iron ore mines is Gol-e-Gohar in Kerman province, which is also the country’s top producer. During the March 2024 to January 2025 period, the country’s major mining companies’ combined iron pellet production reportedly increased by 7 percent year-over-year.

The country’s iron mines are supplying its steel industry, which produced 31 million MT of steel in 2024. In its 20 year roadmap released in 2005, the Iranian government set an annual steel production target of 55 million MT by 2025. To better meet the requirements of domestic steel producers, Iran began levying a 25 percent duty on iron ore exports in September 2019. The exact rate has changed multiple times since, and in February 2024 the country cut duties on these products significantly.

7. South Africa

Usable iron ore: 66 million metric tons
Iron content: 42 million metric tons

South Africa’s iron production was 66 million metric tons of usable iron ore in 2024. The country’s output has declined significantly in the past few years, down from 73.1 million MT three years earlier. South Africa’s mining industry is grappling with transport and logistics issues, most notably due to railway maintenance challenges.

Kumba Iron Ore is Africa’s largest iron ore producer. The company has three main iron ore production assets in the country, including its flagship mine, Sishen, which accounts for a large majority of Kumba’s total iron ore output. Anglo American (LSE:AAL,OTC Pink:AAUKF) owns a 69.7 percent share of the company.

8. Canada

Usable iron ore: 54 million metric tons
Iron content: 32 million metric tons

Canada’s iron production totaled 54 million metric tons of usable iron ore in 2024. In June of that year, the Canadian government updated the nation’s Critical Minerals List ‘to include high-purity iron, citing the necessity of that mineral’s role in decarbonization throughout the steel supply chain,’ according to the USGS.

Champion Iron (TSX:CIA) is one company producing iron ore in Canada. It owns and operates the Bloom Lake complex in Québec. Champion Iron ships iron concentrate from the Bloom Lake open pit by rail, initially on the Bloom Lake Railway, to a ship loading port in Sept-Îles, Québec. A Phase 2 expansion, which entered commercial production in December 2022, increased annual capacity from 7.4 million metric tons to 15 million metric tons of 66.2 percent iron ore concentrate.

As of 2025, Champion is investing in upgrading half of its Bloom Lake mine capacity to a direct reduction quality pellet feed iron ore with up to 69 percent iron.

9. Ukraine

Usable iron ore: 42 million metric tons
Iron content: 26 million metric tons

Ukraine’s iron production for 2024 was 42 million metric tons of usable iron ore. The metal represents a key segment of the country’s economy. Metinvest and ArcelorMittal (NYSE:MT) are the leading producers of iron ore in the nation.

Despite the ongoing war, Ukraine’s iron ore mining industry has proved as resilient as the people, even though there have been temporary shutdowns. However, 2025 looks to be turning into a particularly hard year. In the January through April period, iron ore exports decreased by 20.9 percent in value terms and by 10.2 percent in physical volumes year-over-year. GMK Center predicted in May that by the end of this year, ‘Ukraine’s iron ore exports will decline by about 20% y/y to 27 million tons from 33.6 million tons in 2024.’

10. Kazakhstan

Usable iron ore: 30 million metric tons
Iron content: 9.2 million metric tons

Kazakhstan’s iron production came in at 30 million metric tons of usable iron ore in 2024.

Kazakhstan has several iron ore mines in operation, with four of the top five owned by Eurasian Resources Group. The largest of these iron ore mines is the Sokolovsky surface and underground mine located in Kostanay. In 2023, it produced an estimated 7.52 million tonnes per annum of iron ore.

The Sokolov-Sarybai Mining Production Association (SMPA) in Northern Kazakhstan was the main supplier of iron ore to Russia’s Magnitogorsk Iron and Steelworks prior to the country’s invasion of Ukraine. Since then, the SMPA has halted iron ore shipments to Magnitogorsk.

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

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