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US-China tensions are causing a shift in global gold market dynamics.

Escalating trade tensions with the US have prompted China to take a defensive stance economically. This has become a major gold price driver in 2025 and that trend is expected to continue in the years ahead.

The widening gap between the two nations, which is based on a series of issues, from Taiwan independence and dominion in the South China Sea to currency manipulation and trade deficits, is creating the types of headlines that drive investors, institutions and central banks to move more of their wealth into gold.

“The longer the tension and trade discussions continue, the more risk and uncertainty play into asset performance. Gold benefits significantly in this type of environment,’ the expert added.

China’s response to this heightened geopolitical and economic competition with the US has not been one of direct confrontation; rather, the Asian nation’s leadership has taken its usual profoundly pragmatic and strategic approach.

As it so happens, gold is playing a key role. China has already established itself as the world’s largest producer and consumer of gold, and is now looking to exert more control over the price.

1. PBOC shifting from US treasuries to gold

The People’s Bank of China (PBOC) has continued to increase its gold reserves for the third consecutive year in 2025, although its acquisitions are coming at a slower pace in recent months.

The World Gold Council reported in July that China’s official gold holdings have posted gains for eight consecutive months, with H1 2025 gold purchases coming in at 19 metric tons. Second only to the National Bank of Poland as one of the largest central bank buyers, China’s gold purchases have no doubt contributed to gold’s price.

The PBOC’s focus on increasing its gold reserves is not surprising given the current fiscal landscape.

“China is a large, growing economy and has a meaningful reserve portfolio that is actively managed as part of central programs and planning. The PBOC is principally responsible for managing that portfolio, which has traditionally held large portions in USD and USD-based assets (treasuries),” explained Cavatoni.

“What the increased level of disclosed and undisclosed purchases you see in our data indicates is that the PBOC is looking at domestic and foreign market conditions for managing their reserves in an optimal way. That includes recognition of the role gold can play in a portfolio and finding that role a key focus for growth.”

Charles-Henry Monchau, chief investment officer at Syz Group, believes the PBoC’s bullion purchases are a part of a larger strategy moving away from the nearly century-long hegemony of the US dollar over global trade and finance.

“In its place, China is betting on a dual foundation: gold and the yuan,” Monchau asserted recently, also insisting that China’s reduction of its dependence on the greenback is “not merely a matter of a portfolio rebalance.”

In this way, China would gain a more dominant position in global finance and no longer be at the mercy of US sanctions and other financial pressures. Monchau also lends credence to the claim of some analysts that the PBOC is underreporting its gold purchases to the International Monetary Fund.

‘This opacity is deliberate—by quietly shifting reserves from dollars into gold, China avoids alarming markets while progressively building leverage,” he said.

2. China’s insurance sector buying gold

China’s insurance sector represents an emerging demand segment for physical gold, further demonstrating the yellow metal’s function as a hedge against inflation and economic downturns.

In early February of this year, the Chinese government launched a pilot program allowing the nation’s 10 largest insurance companies to invest directly into gold.

Under the initiative, insurers can choose to allocate up to 1 percent of their assets to gold. This could open the door for up to 200 billion yuan, or more than US$27 billion, to enter the global gold market, as reported by Bloomberg.

China’s insurance sector is the second largest in the world behind the US, and if the pilot program is successful, it could serve as a precedent for other countries to allow similar programs to develop in their own insurance industries.

“This is an exciting development as it demonstrates both government and institutional understanding of gold, and provides an appropriate format for these institutions to build up the appropriate infrastructure and capabilities to add gold to diversified portfolios,” said Cavatoni, emphasizing the significance of the move.

“This will be an additional use case to consume gold and good for the global market. This practice is also capable of being rolled out in pilot programs elsewhere and may (in certain places) already exist.”

The Shanghai AU9999 contract is a physical gold trading contract that closely tracks the spot price of gold.

“It signals, for us, global use cases continuing to come online. And I think that’s actually the big story for gold, which is continuing to see people wanting access to it, industries having a need for it and impediments being removed.”

3. Shanghai Gold Exchange expansion

China is now making it easier for international investors to participate in the Shanghai Gold Exchange.

In late June, the exchange launched two new yuan-denominated gold contracts for physical delivery in Hong Kong, where it opened an offshore gold warehouse in Hong Kong run by the Bank of China.

It also waived storage, handling and exit fees for the calendar year for foreign buyers. Analysts see this as a major move toward strengthening China’s position in the global gold market.

Mario Innecco, who runs the maneco64 YouTube channel, sees the expansion of the Shanghai Gold Exchange as “highly significant” in moving the center of the gold market to China.

“This is an interesting development and one that is broadening an already open channel for approved foreign entities,” said the World Gold Council’s Cavatoni in an email. “If the expansion continues beyond what we have today, including the most recent announcement around vaulting overseas, the foreign community might become more active in what is currently a smaller portion of the domestic China gold market.”

There is also potential for strengthening the global position of renminbi.

“The new vault will significantly boost offshore RMB liquidity by enabling gold transactions in yuan rather than dollars,” said Doris Bao, founderof Gold Harvest Consulting and an advisor to the London Bullion Market Association (LBMA). “This also means China can now import gold using its own currency.”

Innecco also believes a stronger Shanghai Gold Exchange internationally could prove highly disruptive to the western gold futures market represented by the COMEX and the LBMA.

‘I think gold and silver will be priced from China in the next few years,” he added.

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

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The gold sector is undergoing another wave of portfolio reshuffling.

Fresh deals across the sector signal a growing shift toward consolidation and selective asset sales as stakeholders seek further growth during the yellow metal’s historic price run.

Newmont to sell Coffee Project in Yukon

Newmont (TSX:NGT,NYSE:NEM,ASX:NEM), the world’s largest gold producer, announced that it reached an agreement to sell its Coffee project to Vancouver-based explorer Fuerte Metals (TSXV:FMT,OTCQB:FUEMF).

Under the terms of the deal, Newmont will receive US$10 million in cash at closing, US$40 million in Fuerte shares and retain a 3 percent net smelter return royalty. Fuerte has the option to repurchase the royalty for up to $100 million, potentially bringing total consideration for the transaction to US$150 million.

For Fuerte, the acquisition marks a step in its strategy to build a copper and precious metals portfolio across the Americas. The company is backed by Pierre Lassonde, Newmont’s former president, and Trinity Capital Partners.

Yukon-based Coffee has long been considered prospective, but has faced permitting and financing hurdles.

Upon completion of the deal, Newmont will have fully implemented its plan of divesting six operations and two projects deemed non-core following its US$15 billion takeover of Newcrest Mining in 2023.

The divestment also comes just days after Newmont said it would delist from the Toronto Stock Exchange at the close of trading on September 24. The company cited low trading volumes on the TSX, noting that the move would cut costs and simplify administration as the company focuses on its largest and most profitable mines in the Australian region.

Shares will continue to trade on the New York Stock Exchange, where Newmont maintains its primary listing, as well as on the Australian Securities Exchange and the Papua New Guinea Stock Exchange.

Alamos to exit Turkey with US$470 million asset sale

Alamos Gold (TSX:AGI,NYSE:AGI) is shedding problematic overseas ventures to redirect capital closer to home.

The company recently announced a definitive agreement to sell Doğu Biga Madencilik Sanayi ve Ticaret, its wholly owned Turkish subsidiary, to Tümad Madencilik, a unit of Nurol Holding, for US$470 million in cash.

The subsidiary controls three gold and silver projects in northwestern Turkey: Kirazlı, Ağı Dağı and Çamyurt. Kirazlı has been frozen since 2019 after Ankara declined to renew its mining license, sparking a US$1 billion arbitration claim by Alamos under the Netherlands-Turkey bilateral investment treaty.

Under the agreement, Alamos will receive US$160 million at closing, expected in the fourth quarter of 2025, followed by US$160 million one year later and US$150 million after two years. Arbitration proceedings against Turkey will be suspended and ultimately discontinued once contractual milestones are met.

“This transaction marks a positive outcome, allowing us to crystallize significant value for our Turkish assets, and utilize the proceeds to support the development of our portfolio of other high-return growth projects,” said Alamos President and CEO John A. McCluskey in a Sunday (September 14) press release. Those projects include the Island Gold Phase 3+ expansion in Ontario, the Lynn Lake project in Manitoba and Puerto Del Aire in Mexico.

For Tümad, the purchase consolidates its position as a leading domestic miner. The company already operates two producing gold and silver mines in Turkey and will now add a trio of advanced development assets to its pipeline.

First Nordic, Mawson to merge and form NordCo Gold

First Nordic Metals (TSXV:FNM,OTCQX:FNMCF) announced it will acquire Mawson Finland (TSXV:MFL,OTC Pink:MFLDF) in an all-share transaction that will create a new company called NordCo Gold.

The combined entity will control over 123,000 hectares of exploration ground across Sweden and Finland, anchored by First Nordic’s Barsele joint venture with Agnico Eagle Mines NYSE:AEM,TSX:AEM) and Mawson’s Rajapalot gold-cobalt project. In total, NordCo will hold an inferred resource of 2.1 million gold equivalent ounces, along with 0.3 million gold equivalent ounces in measured and indicated attributable resources.

Taj Singh, CEO of First Nordic, described the deal as “about scale, quality and execution,” adding that the company sees “multiple meaningful deposits to be discovered and delineated over the coming years.”

NordCo will have a pro forma market capitalization of about C$259 million and a cash balance of roughly C$50 million following a C$30 million concurrent financing.

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

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Maurene Comey, a longtime U.S. prosecutor who helped bring criminal cases against Jeffrey Epstein and Ghislaine Maxwell, sued the Trump administration Monday over her abrupt firing from the Justice Department. 

Comey had served at the U.S. attorney’s office for the Southern District of New York since 2015 before her ousting earlier this year. She called her termination unlawful, ‘politically motivated,’ and argued it stemmed largely from the fact that her father is former FBI Director James Comey.

In Monday’s lawsuit, Comey’s lawyers said her firing violated ‘multiple provisions’ of the Civil Service Reform Act — a law designed to protect government employees, including career federal prosecutors — as well as the First and Fifth Amendments of the U.S. Constitution.

‘The politically motivated termination of Ms. Comey — ostensibly under ‘Article II of the Constitution’ — upends bedrock principles of our democracy and justice system,’ her lawyers argued, describing her removal as both ‘unlawful and unconstitutional.’

‘Defendants have not provided any explanation whatsoever for terminating Ms. Comey,’ her lawyers argued. ‘In truth, there is no legitimate explanation. Rather, defendants fired Ms. Comey solely or substantially because her father is former FBI Director James B. Comey, or because of her perceived political affiliation and beliefs, or both.’

The lawsuit asks that Comey be reinstated to the Southern District of New York, where lawyers noted her work earned multiple awards, promotions and internal recognition, including a recent performance review calling her work ‘outstanding.’

It also cites protections afforded to career federal prosecutors, including prior notification and the ability to challenge a removal.

In the years since Comey joined SDNY in 2015, her lawyers said, she had been assigned to prosecute some of the department’s most high-profile cases — including the criminal cases against Epstein, Maxwell, and others. Most recently, in May, she led the prosecution against Sean ‘Diddy’ Combs. 

Comey had been asked by the U.S. attorney’s office to lead a ‘major’ public corruption case just one day before she was fired, the lawsuit said, underscoring what her lawyers call the abrupt nature of her removal.

She was notified of her termination the next day in an emailed memo. The email did not list a cause or reason for removal, according to the lawsuit, though it made mention of ‘Article II,’ or the powers of the commander-in-chief.  

U.S. Attorney Jay Clayton did not answer Comey when she pressed him for information on her firing, the lawsuit alleges. Instead, he told her, ‘All I can say is it came from Washington. I can’t tell you anything else.’

‘No other explanation was ever provided to Ms. Comey regarding the reason for her termination,’ her lawyers said. ‘Defendants had no lawful authority to terminate [the] plaintiff from federal service without adhering to the statutory protections afforded to her.’ 

They argued that this distinction should be taken to mean that Comey’s termination is ‘ultra vires,’ or beyond the scope of one’s authority — thus ‘without force or effect.’

‘The executive branch cannot use Article II to overrule Congress and remove career civil servants for perceived disloyalty,’ they added. ‘Such an act violates the Constitution’s fundamental Separation of Powers. It also violates the Bill of Rights, depriving Ms. Comey of protection under the First and Fifth Amendments.’

The Justice Department declined to comment on the lawsuit, which names the department, Attorney General Pamela Bondi, OPM, and the Executive Office of the President as defendants, among others. 

It comes amid a years-long, high-profile dispute between President Donald Trump and former FBI Director James Comey, whom Trump fired during his first White House term in 2017, roughly five years into his 10-year tenure. 

In the years since Comey’s departure, the two have continued to be sharply at odds. Comey has emerged as an outspoken Trump critic, both in public and in his memoir, ‘A Higher Loyalty.’ Comey came into the president’s crosshairs again earlier this year after he posted what was viewed by Trump allies as a cryptic social media post online; he has denied knowledge of its true meaning.

Trump, for his part, has continued to assail Comey and probe his tenure at the FBI. Earlier this year, the FBI confirmed it had launched criminal investigations into Comey and former CIA Director John Brennan for allegedly making false statements to Congress. 

Details of the investigation were not immediately clear, and in the months since the FBI’s July announcement, there has been little information shared with the public about the nature or status of the probes.

The younger Comey was terminated about a week after the investigations were announced — a detail her lawyers highlighted in the lawsuit, which seeks her reinstatement and back pay.

In a farewell email sent to colleagues, Maurene Comey wrote, ‘If a career prosecutor can be fired without reason, fear may seep into the decisions of those who remain.’

 ‘Do not let that happen,’ she said.

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Israel’s top military chief, Lt. Gen. Eyal Zamir, is opposing a full military takeover of Gaza and urging adoption of the Witkoff plan, three senior sources told Fox News Digital amid mounting debate over the country’s next steps.

‘The chief of staff is standing by his professional judgment, based on the experience of this war,’ one former senior IDF official said. ‘In recent days he told the cabinet that while the IDF is prepared for a ground maneuver, the correct path is to reach a deal to save all the hostages and to enter negotiations. A maneuver now could endanger the hostages, as we saw in Tel Sultan.’

The Tel Sultan incident in Rafah in 2024 remains a turning point in Israeli decision-making. During that operation, Hamas executed six hostages, including American-Israeli Hersh Goldberg-Polin, as Israeli forces closed in, underscoring the risks of a large-scale ground maneuver before negotiations are exhausted.

Prime Minister Benjamin Netanyahu has repeatedly claimed that Israel’s goal ‘is not to occupy Gaza. Our goal is to free Gaza, free it from Hamas terrorists,’ arguing that seizing Gaza City is necessary because Hamas refuses to lay down arms. He has said this is the only way to secure the release of the roughly 48 hostages still held in Gaza.

But the former senior official told Fox News that military pressure has already brought Hamas back to the Witkoff framework of July 29. ‘The framework should be accepted, and Washington should understand the chief’s position as it was presented to the cabinet. Hamas is ready to stand by those conditions now. The chief of staff opposes military rule in Gaza and believes Israel should look ahead to the day after and draw a political solution accordingly. If necessary, the IDF can continue fighting after such an agreement.’

A spokesperson from the Prime Minister’s Office told Fox News Digital in response: ‘The Israeli cabinet decided to move forward with the operation plan presented by the chief of staff himself.’

A recent Politico report quoted a source described as ‘close to the president’s national security team,’ saying the Tuesday strike against Hamas’s leadership in Doha may have been an intentional move to hinder negotiations. ‘Every time they’re making progress, it seems like he [Netanyahu] bombs someone,’ the source said in the report.

The officials confirmed to Fox News Digital that both the IDF chief of staff and the Mossad director opposed the timing of the Qatar operation. ‘The plan was long in the works, but there was no reason to choose this specific timing instead of waiting to get Hamas’s response in the negotiations,’ one said, adding that ‘that decision, as well as the decision to continue the Gaza operation, go against professional echelon advice.’

A second source familiar with cabinet deliberations confirmed the chief of staff reiterated his position last Friday and again yesterday in both the Security Cabinet and the Foreign Affairs and Defense subcommittee. ‘He has made clear that the Witkoff plan is a good one,’ the source said, pointing to its terms: a 60-day Israeli withdrawal in exchange for the release of 10 live hostages and 15 bodies, with Israel free to resume fighting if Hamas violates the deal.

 

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Zijin Gold International, the offshore unit of China’s Zijin Mining (OTC Pink:ZIJMF,HKEX:2899,SHA:601899), is lining up a Hong Kong IPO that could raise over US$3 billion and land its valuation as high as US$40 billion.

According to sources familiar with the deal, bookbuilding for the share sale is set to begin on September 19, with pricing expected on September 24 and trading slated to debut on September 29.

Zijin Gold said in its prospectus that average annual gold production grew by 21.4 percent between 2022 and 2024, placing it among the world’s fastest-growing producers.

The company ranked as the world’s 11th largest gold miner last year, reaching an output of 1.5 million ounces and proven and probable reserves of 26.1 million ounces, according to data from Frost & Sullivan.

“We are one of the fastest-growing companies in the global gold mining industry,” the company said. “Starting from the acquisition of the Tajikistan Jilau/Taror gold mines in 2007, we have expanded our business through global acquisitions, operational enhancement and production expansion of several large gold mines.”

Spot gold prices are trading near historic highs in recent months, lifted by central bank purchases, investor hedging against inflation, and expectations of interest rate cuts in the US.

Gold touched US$3,680 per ounce briefly on Monday (September 15), with bullish investors forecasting it could reach US$3,800 by year-end. Investment firm Goldman Sachs projected prices well above US$4,000 by mid-2026.

Investor demand for gold-backed assets has mirrored the metal’s rally. Physically backed gold exchange-traded funds saw US$5.5 billion of inflows in August, extending their streak to three months, the World Gold Council (WGC) reported on September 5.

Year-to-date inflows of US$47 billion also rank as the second strongest on record, following the surge of 2020.

Founded in 2007 and incorporated in Hong Kong, Zijin Gold oversees all of its parent’s offshore gold assets, spanning eight mines across Central Asia, South America, Africa, and Oceania.

Key projects include operations in Tajikistan, Kyrgyzstan, Australia, Guyana, Colombia, Suriname, Ghana, and Papua New Guinea.

The unit reported revenue of US$2.99 billion in 2024, up 32 percent year-on-year, with net profit more than doubling to US$481.37 million.

The spin-off is designed to unlock the value of Zijin’s offshore gold portfolio and provide capital for further expansion. In earlier filings, the company said proceeds would fund the acquisition of the Raygorodok mine in Kazakhstan, as well as upgrades and new construction at existing operations.

Meanwhile, its parent company Zijin Mining is dual-listed in Hong Kong and Shanghai and has set a goal of producing 100 to 110 tons of gold annually by 2028.

The company has already passed its listing hearing on the Hong Kong exchange, according to filings, and appointed Morgan Stanley and Citic Securities as joint sponsors for the transaction.

If the IPO is successful it will mark the second largest Hong Kong-based IPO for 2025. The first was Contemporary Amperex Technology’s (CATL) (SZSE:300750,HKEX:3750) May IPO which netted US$5.3 billion for the battery giant.

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

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A House Republican is demanding that Rep. Ilhan Omar, D-Minn., be stripped of her committee assignments, accusing her of making disparaging comments toward Charlie Kirk after his assassination last week.

Rep. Buddy Carter, R-Ga., is introducing a resolution on Monday to remove Omar from her two current committees: the House Budget Committee and the House Committee on Education and the Workforce.

She is the top Democrat on the latter panel’s Subcommittee on Workforce Protections.

It’s part of the continued fallout from Kirk’s killing in Utah during a college speaking event.

Republicans have responded forcefully to Democrats who they view as taking Kirk’s death lightly or dismissing it as a product of his conservative activism.

Omar, in particular, has faced backlash from the right over an interview with progressive news outlet Zeteo, where she criticized Kirk’s past commentary and Republicans’ reaction to the shooting. She accused Republicans of taking her words out of context, however, and she called Kirk’s death ‘mortifying.’

She told the outlet days after Kirk’s assassination that he previously ‘downplayed slavery and what Black people have gone through in this country by saying Juneteenth shouldn’t exist.’

‘There are a lot of people who are out there talking about him just wanting to have a civil debate,’ the ‘Squad’ member said. ‘There is nothing more effed up, you know, like, than to completely pretend that, you know, his words and actions have not been recorded and in existence for the last decade or so.’

She criticized Republican figures who have been going after Democrats for their rhetoric, adding, ‘These people are full of s—. And it’s important for us to call them out while we feel anger and sadness, and have, you know, empathy, which Charlie said, ‘No, it shouldn’t exist,’ because that’s a newly created word or something.’

Like, I have empathy for his kids and his wife and what they’re going through,’ Omar continued.

She later posted on X amid the backlash, ‘While I disagreed with Charlie Kirk vehemently about his rhetoric, my heart breaks for his wife and children. I don’t wish violence on anyone. My faith teaches me the power of peace, empathy, and compassion. Right-wing accounts trying to spin a false story when I condemned his murder multiple times is fitting for their agenda to villainize the left to hide from the fact that Donald Trump gins up hate on a daily basis.’

Carter told Fox News Digital, however, ‘Disparaging Charlie Kirk’s legacy, a God-fearing, honorable man, for boldly sharing his conservative beliefs is disgusting. The radical left has normalized meeting free speech with violence, and it must stop.’

‘No one who justifies the assassination of someone with different political views than them deserves to sit on a committee, and Ilhan Omar openly used language that incites violence toward her political opponents. Committees are for serious lawmakers, not hate-spewing politicians,’ he said.

Carter, who is currently running for U.S. Senate, sits on the House Budget Committee alongside Omar.

Fox News Digital reached out to the Minnesota progressive’s office for comment but did not hear back by press time.

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CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) (‘CoTec’ or the ‘Company’) is pleased to note today’s press release by HyProMag USA, LLC (‘HyProMag USA’), its U.S.-based joint venture rare earth permanent magnet recycling and manufacturing company.

HyProMag USA announced an update on the Detailed Design phase of its Dallas-Fort Worth rare earth magnet recycling and manufacturing hub. The engineering, procurement and construction management work is being led by PegasusTSI Inc. and BBA USA Inc.

Highlights of the update include:

  • Detailed Design now 25% complete, incorporating learnings from HyProMag’s UK and German facilities.
  • Advanced Grain Boundary Diffusion (‘GBD’) techniques added to enhance magnet performance.
  • Tripled throughput capacity at the University of Birmingham HPMS pilot facility, with over 50 pilot runs completed.
  • Circa 900kg of recycled NdFeB alloy powder already produced at the Tyseley Energy Park facility in the UK.
  • Four shortlisted Dallas-Fort Worth hub site options identified, with permitting to commence in Q3 2025.
  • Feedstock supply collaboration advancing with Intelligent Lifecycle Solutions (ILS), which has begun stockpiling feed.
  • Expansion planning underway for additional hubs in Nevada and South Carolina, and a Concept Study initiated for a complementary ‘Long Loop’ recycling process led by Worley.

Julian Treger, CEO of CoTec, commented: ‘We are very pleased with the progress of the EPCM Detailed Design. The learnings from HyProMag’s facilities in the UK and Germany continue to inform PegasusTSI’s and BBA’s work and support an accelerated project schedule targeting first magnets in H1 2027. In parallel with the EPCM Detailed Design, the company is focused on securing funding from the U.S. Government, commercial lenders, equity providers and off takers. With the commencement of the long-loop Concept Study, the Company is in a unique position as it provides both short and long-loop rare earth permanent magnet recycling. HyProMag USA’s proposed U.S. facility fully meets the requirements of the U.S. Defence Production Act (‘DPA’) Title III and will provide a secure, long-term, commercial-scale magnet recycling and production facilities in the United States.’

For further information, please refer to HyProMag USA’s press release, available at: www.hypromagusa.com.

About HyProMag USA

HyProMag USA LLC is owned 50:50 by CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) (‘CoTec’) and HyProMag Limited. HyProMag Limited is 100 per cent owned by Maginito Limited which is owned on a 79.4/20.6 per cent basis by Mkango Resources Ltd. (AIM/TSX-V:MKA) and CoTec.

About CoTec

CoTec Holdings Corp. (TSX-V:CTH)(OTCQB:CTHCF) is redefining the future of resource extraction and recycling. Focused on rare earth magnets and strategic materials, CoTec integrates breakthrough technologies with strategic assets to unlock secure, sustainable, and low-cost supply chains for the United States and its allies.

CoTec’s mission is clear: accelerate the energy transition while strengthening U.S. economic and national security. By investing in and deploying disruptive technologies, the Company delivers capital-efficient, scalable solutions that transform marginal assets, tailings, waste streams, and recycled products into high-value critical minerals.

From its HyProMag USA magnet recycling joint venture in Texas, to iron tailings reprocessing in Québec, to next-generation copper and iron solutions backed by global majors, CoTec is building a diversified portfolio with long-term growth, rapid cash flow potential, and high barriers to entry. The result is a game-changing platform at the intersection of technology, sustainability, and strategic materials.

For more information, please visit www.cotec.ca

For further information, please contact:

Braam Jonker – (604) 992-5600

Forward-Looking Information Cautionary Statement

Statements in this press release regarding the Company and its investments which are not historical facts are ‘forward-looking statements’ which involve risks and uncertainties, including statements relating to the Company’s interest in HyProMag USA and its proposed development and management’s expectations with respect to its current and potential future investments, including HyProMag USA, and the benefits to the Company which may be implied from such statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements, due to known and unknown risks and uncertainties affecting the Company, including but not limited to resource and reserve risks; environmental risks and costs; labor costs and shortages; uncertain supply and price fluctuations in materials; increases in energy costs; labor disputes and work stoppages; leasing costs and the availability of equipment; heavy equipment demand and availability; contractor and subcontractor performance issues; worksite safety issues; project delays and cost overruns; extreme weather conditions; and social and transport disruptions. For further details regarding risks and uncertainties facing the Company please refer to ‘Risk Factors’ in the Company’s filing statement dated April 6, 2022, a copy of which may be found under the Company’s SEDAR+ profile at www.sedarplus.ca. The Company assumes no responsibility to update forward-looking statements in this press release except as required by law. Readers should not place undue reliance on the forward-looking statements and information contained in this news release and are encouraged to read the Company’s continuous disclosure documents which are available on SEDAR+ at www.sedarplus.ca.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Source

Click here to connect with CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) to receive an Investor Presentation

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A Senate Republican warned Monday that Congress would likely have to change the law following deep Medicaid cuts in President Donald Trump’s ‘big, beautiful bill.’

Sen. Susan Collins, R-Maine, said during an appearance at the Global Health Innovation Forum at Massachusetts General Hospital in Boston that ‘pressure’ would grow over time for lawmakers to make a change to the megabill’s steep cuts to Medicaid.

She said she supported other big-ticket items in the bill, like extending provisions from Trump’s 2017 Tax Cuts and Jobs Act and the beefing up of Medicaid’s work requirement.

But Collins argued that while there should be an effort to trim the costs of Medicaid and Medicare in the country, the deep, nearly $1 trillion cuts to Medicaid would hurt Americans.

‘They don’t go into effect next year, they go into effect the following year,’ Collins said. ‘But a year is not going to make any difference at all, and I’m just very concerned that people who need the care aren’t going to get it.’

Collins warned that once ‘we start seeing Americans getting sicker as a result of this, having delayed treatment because they no longer have the coverage,’ then lawmakers will have to take a better look at the cuts they greenlit in June.

‘I don’t see the states having the ability to step up and fill the gap here. I just don’t. Even wealthy states,’ she said. ‘I just don’t see that happening. And as the implications of the bill become better known, I think there’s going to be tremendous pressure on Congress to change the law. But we’re going to need the evidence, the stories, the research that didn’t occur.’

She was one of only three Senate Republicans — the others were Sens. Rand Paul, of Kentucky, and Thom Tillis, of North Carolina — to vote against the colossal package in June. At the time, she cited Medicaid cuts as the key reason behind her decision not to back the bill.

Collins noted that before the bill ever went to the floor for what would become a marathon, 29-hour vote-a-rama before final passage in the upper chamber, she told both Republican leaders in the Senate and officials at the White House that she was a hard ‘no’ unless changes were made to the bill.

She offered leaders and the administration a list of 10 items she took issue with, including cuts that would affect rural hospitals. Maine has 32 rural hospitals, she said, with one having just been closed.

‘We have five that are teetering on the brink of closure because they’re already in trouble, because the Medicaid reimbursements are not high enough, and also because of population changes,’ she said.

Collins and other skeptics of the Medicaid cuts, including Sen. Josh Hawley, R-Mo., did notch a minor victory with the inclusion of a $50 billion rural hospital fund to help offset the broader cuts — and she vowed to pressure Centers for Medicare and Medicaid Services Director Mehmet Oz to hustle that funding out the door.

Still, in a state like Maine, which has roughly 31% of the population on Medicaid, she worried that the cuts would see hospitals shoulder more of the costs of care.

‘These cuts, I worry, are going to be devastating for states like Maine, for the people who rely on it,’ Collins said. ‘But you know, a lot of those individuals are still going to show up in the hospital emergency room.’

‘They won’t have been getting the care that they need to keep them out of the hospital emergency room,’ she continued. ‘They’re going to be coming to you with their problems, and they’re not going to be covered by Medicaid, and the problem with that is it’s going to be uncompensated care for hospitals.’

Fox News Digital reached out to the White House for comment but did not immediately hear back. 

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President Donald Trump doubled down on his demand that European nations cease all energy purchases from Russia as he mulls his first sanctions on Moscow since re-entering office amid its war in Ukraine.

Speaking to reporters Sunday evening, Trump said European nations, especially those in NATO, are not doing enough to counter Russia, despite the new round of sanctions enacted by the EU last week. 

‘They’re not doing the job. NATO has to get together. Europe has to get together,’ Trump said. ‘Europe… they’re my friends, but they’re buying oil from Russia, so we can’t be expected to be the only ones that are, you know, full bore.’ 

‘Europe is buying oil from Russia. I don’t want them to buy oil,’ he continued, noting that the sanctions Europe has issued on Russia and Russian officials ‘are not tough enough.’

 ‘I’m willing to do sanctions, but they’re going to have to toughen up their sanctions commensurate with what I’m doing,’ Trump confirmed. 

While European nations have drastically cut their reliance on Moscow’s oil following Russian President Vladimir Putin’s February 2022 invasion of Ukraine, they have not cut it off entirely – particularly nations like Hungary, Slovakia, France, Belgium and Spain, which are Europe’s top importers of Russian energy. 

Hungary – whose president remains friendly with Putin despite being a NATO nation – is Europe’s chief importer of Russian crude oil and pipeline gas, purchasing more than double any other European nation’s Russian energy imports.

France, which is the second-largest European purchaser of Russian energy, continues to import liquefied natural gas (LNG), which has largely bypassed EU sanctions, in part due to long-standing legally binding commitments.

These agreements mean Paris has committed to ‘take-or-pay’ contracts through the early 2030s or would face arbitration or penalties. Reporting suggests, however, that the LNG imports are not only slated for French consumption, but are also being passed on to third-party nations like Germany.

Last month, the EU’s Data Protection Authority confirmed that the bloc had imported nearly $5.2 billion worth of Russian LNG in the first half of 2025. 

Trump’s comments came just one day after he sent a letter to NATO that said he is ‘ready to do major sanctions on Russia when all NATO Nations have agreed, and started, to do the same thing, and when all NATO nations stop buying oil from Russia,’ according to a post he made on Truth Social. 

But when asked on Sunday about his plans to hit Russia with additional U.S. sanctions – which have not been expanded since the Biden administration – he suggested Europe might need to stop all LNG imports as well.

The president claimed that all Russian imports are supposed to be barred at this time and said, ‘The deal is, they’re not supposed – whether it’s natural gas or whether it’s cigarettes, I don’t care – they’re not supposed to be buying from Russia.’

The president didn’t expand on which deal he was referring to, and he didn’t comment on the U.S.’s $2.1 billion worth of Russian imports it has purchased in the first five months of 2025, largely consisting of enriched uranium, palladium and fertilizers. 

In addition, he called on NATO allies to hit China with ‘50% to 100% tariffs’ that he said would be withdrawn only after the war in Ukraine concluded – a rate which is currently higher than the 30% tariffs Washington has slapped on Beijing, though which could significantly expand given Trump’s recent threats to hit China with tariffs as high as 200%.

The White House did not immediately respond to Fox News Digital’s questions regarding this reporting. 

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Locksley Resources Ltd. (ASX: LKY,OTC:LKYRF; OTCQB: LKYRF) announced it will significantly expand its exploration program at its significantly increased landholding in the Mojave Desert. Earlier this month the company announced the addition of 249 additional claims at the site, which abuts areas currently controlled by MP Materials, the only Rare Earths producing mine in North America . These new claims bring the company’s total landholding to 491 claims encompassing more than 40 sq km of highly prospective critical minerals. Additional details can be found here: https:cdn-api.markitdigital.comapiman-gatewayASXasx-research1.0file2924-02993242-6A1283793&v=c2533a54e2514fb77a8f93f84db686e1125273e9

‘The substantial expansion of our landholding within the Mojave Critical Minerals Corner marks a pivotal step in Locksley’s growth,’ said Pat Burke , Chairman of Locksley Resources. He reported that last week brokers and analysts visited the site, affording Locksley an excellent opportunity to highlight both the scale of the tenure, as well as the strategic importance of its position in this area.

‘With the U.S. Government increasingly focused on securing domestic supply chains for critical minerals, Locksley is well positioned to deliver a mine-to-market solution for antimony and rare earths,’ Burke said.

The expanded program will be focused on exploration of both the existing antimony and rare earths elements prospects as well as targeting additional commodities that have been identified on Locksley’s larger land holding. A substantial historical shaft has been discovered during a surface geological and structural mapping campaign recently undertaken by Locksley at Mojave . The shaft depth and the extent of the underground workings are being further evaluated and is estimated at more than 15m . Locksley is determining the composition of the commodities that were historically mined.

Locksley Resources ( https://www.locksleyresources.com.au ) is an Australian-based explorer focused on critical minerals and base metals, with assets in both the U.S. and Australia . The company is actively advancing its U.S. asset, the Mojave Project, in California , targeting rare earth elements (REEs) and antimony. The company has also announced a strategic collaboration with Rice University to develop DeepSolv™, for domestic processing of North American antimony. The agreement is the first step in the initiation of Locksley’s U.S. Critical Minerals and Energy Resilience Strategy to accelerate ‘mine-to-market’ deployment of antimony in the U.S.

Contact: Beverly Jedynak , Beverly.jedynak@viriathus.com , 312-943-1123; 773-350-5793 (cell)

Cision View original content: https://www.prnewswire.com/news-releases/locksley-resources-announces-significant-expansion-of-its-exploration-program-for-both-rare-earths-and-antimony-after-increasing-its-landholding-to-more-than-40-square-kilometers-in-californias-mojave-region-302555904.html

SOURCE Locksley Resources

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