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Rapid Critical Metals Limited (‘Rapid’ or ‘Company’) is pleased to announce that is increasing its land holding adjacent to the high-grade Webbs Silver Project 1 ,2 (Webbs Project or Project) with Exploration Licence Application 6911, an exciting land package to complement its new silver acquisitions.

HIGHLIGHTS

  • Increase in Rapid’s land holdings by 26 x adjacent to the high grade Webbs Project, when granted;
  • Secures the silver corridor between Rapid and ASX-listed Lode Resources;
  • Maximising Rapid’s opportunity to find blind parallel lodes to increase the Webbs resource;2,3
  • ELA 6911 covers over 20km of the highly prospective4 Mole River Granite and its immediate periphery; and
  • Micro Gravity commencing in mid-June 2025 on the southern end of the Webbs’ deposit to define the ore body signature to help interpret further blind parallel structures and identify further targets for new discoveries.

Commenting on the acquisition of this large new land holding, Rapid Critical Metals’ Managing Director, Martin Holland, said:

“It’s exciting to see the new proposed managing director, Byron Miles, adding value to Rapid even before the transaction has completed. This new land holding fits perfectly with our priorities of expanding the JORC resources of Webbs and finding new discoveries in the district”.

Click here for the full ASX Release

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Shares of Hochschild Mining (LSE:HOC,OTCQX:HCHDF) plummeted more than 20 percent on Tuesday (June 10) after the company announced a six week shutdown of the processing plant at its Mara Rosa gold mine in Brazil.

In a statement, the miner blamed the issue on a combination of “heavier-than-usual seasonal rainfall” and ongoing contractor issues that have hampered access to ore, especially higher-grade material, since early this year.

The company’s initial 2025 guidance for Mara Rosa was 94,000 to 104,000 ounces; however, only about 25,000 ounces had been produced by the end of May — a shortfall that has forced a downward revision in full-year guidance.

“This will have a corresponding impact on the operation’s costs,” Hochschild acknowledged in a market update, noting that revised production forecasts and group-wide guidance will be issued “in due course.”

The British firm’s share price plunged as much as 22 percent on Tuesday. After starting the day’s trading at 269 pence, shares registered their steepest intraday decline since November 2021, falling to 232 pence.

The operational woes come less than two weeks after the sudden resignation of Hochschild’s chief operating officer, adding to investor concerns. CEO Eduardo Landin has stepped in to assume direct oversight of operations and is leading a “comprehensive review of all mining, processing, and disposal activities” at Mara Rosa.

As part of this effort, the company said the six week suspension of the processing plant will be used to carry out general maintenance and critical mechanical filter repairs. Mining activities will continue as planned.

“The wide-ranging measures we are taking at Mara Rosa are focused on achieving a sustainable level of operational performance,” Landin said in the company’s Tuesday press release. “We remain confident in the geological potential of the asset and in Brazil’s role as a key pillar of our long-term growth strategy.”

Located in the Central Brazilian state of Goiás, Mara Rosa entered commercial production in early 2024 and was seen as a cornerstone of Hochschild’s diversification beyond its legacy Andean assets. The mine’s early performance has been closely watched as an indicator of the company’s future expansion strategy outside Peru and Argentina.

However, this year’s extreme weather has compounded earlier issues, particularly delays in mine waste removal from 2024, while complications with filtration technology have further limited throughput.

The extended wet season in Brazil, which has disrupted not only mining, but also transportation and supply chains across central states, has left several companies reeling.

Analysts have been quick to adjust their outlooks. Peel Hunt has downgraded its production forecast for Mara Rosa to 60,000 ounces of gold for the year, down from its prior estimate of 84,000 ounces.

“We hope that the end result (after shutdown) is a more flexible pit, aligned to a debottlenecked plant, allowing more stable throughput and more reliable output,” the firm said in a note to clients.

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

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Walmart’s majority-owned fintech startup OnePay said Monday it was launching a pair of credit cards with a bank partner for customers of the world’s biggest retailer.

OnePay is partnering with Synchrony, a major behind-the-scenes player in retail cards, which will issue the cards and handle underwriting decisions starting in the fall, the companies said.

OnePay, which was created by Walmart in 2021 with venture firm Ribbit Capital, will handle the customer experience for the card program through its mobile app.

Walmart had leaned on Capital One as the exclusive provider of its credit cards since 2018, but sued the bank in 2023 so that it could exit the relationship years ahead of schedule. At the time, Capital One accused Walmart of seeking to end its partnership so that it could move transactions to OnePay.

The Walmart card program had 10 million customers and roughly $8.5 billion in loans outstanding last year, when the partnership with Capital One ended, according to Fitch Ratings.

For Walmart and its fintech firm, the arrangement shows that, in seeking to quickly scale up in financial services, OnePay is opting to partner with established players rather than going it alone.

In March, OnePay announced that it was tapping Swedish fintech firm Klarna to handle buy now, pay later loans at the retailer, even after testing its own installment loan program.

In its quest to become a one-stop shop for Americans underserved by traditional banks, OnePay has methodically built out its offerings, which now include debit cards, high-yield savings accounts and a digital wallet with peer-to-peer payments.

OnePay is rolling out two options: a general purpose credit card that can be used anywhere Mastercard is accepted and a store card that will only allow Walmart purchases.

Customers whose credit profiles don’t allow them to qualify for the general purpose card will be offered the store card, according to a person with knowledge of the program.

OnePay hasn’t yet disclosed the rewards expected for making purchases with the cards. The Synchrony partnership was reported earlier by Bloomberg.

“Our goal with this credit card program is to deliver an experience for consumers that’s transparent, rewarding, and easy to use,” OnePay CEO Omer Ismail said in the Monday release.

“We’re excited to be partnering with Synchrony to launch a program at Walmart that checks each of those boxes and will help serve millions of people,” Ismail said.

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Argentina’s top court effectively banned two-term former President Cristina Fernández de Kirchner from office and upheld a six-year jail sentence, likely drawing a curtain on one of the country’s most flamboyant and divisive political careers.

Kirchner, 72, a polarizing opposition figure and leftist president from 2007 to 2015, was convicted by a trial court in 2022 for a fraud scheme that steered public road work projects in the Patagonia to a close ally while she was president.

The ruling scuppers Kirchner’s plans to run in Buenos Aires provincial legislative elections, but could galvanize her divided Peronist opposition coalition, which has been licking its wounds since being ousted in 2023 by current libertarian President Javier Milei.

The Supreme Court’s three judges rejected Kirchner’s appeal and left in effect an appellate court decision that had upheld the guilty verdict. A lower court will decide whether to grant Kirchner house arrest due to her age.

“The complaint is dismissed,” the Supreme Court said in a ruling. Kirchner has denied wrongdoing and claims she is a victim of political persecution.

In Buenos Aires, her supporters blocked roads across the city. Some banged on drums. Others carried banners with the image of Evita Perón, the wife of Juan Perón, the founder of the political movement who was known as a defender of the poor.

“A triumverate of unpresentables,” Kirchner said of the Supreme Court judges after the ruling, speaking before thousands of supporters who rallied in downtown Buenos Aires outside the headquarters of her Peronist Justicialista party.

Kirchner’s shadow looms large over the Peronist movement, which needs to identify a new generation of leaders.

“The fact that she goes to jail and can’t be a candidate doesn’t eliminate her political movement,” said political analyst Carlos Fara. “Obviously though it won’t be the same.”

A government source said that it could both weaken or strengthen the opposition. Peronism “can either entrench itself or break into a thousand pieces,” the person told Reuters.

Justice?

Prosecutors accused Kirchner of directing hundreds of millions of dollars to construction magnate Lázaro Báez. During her government and that of her late husband, Néstor Kirchner, companies tied to Báez were awarded dozens of government contracts for roadwork projects in Patagonia but nearly half of them were abandoned, prosecutors said.

Báez and other officials were sentenced to prison terms.

Peronism and Kirchner’s popularity have suffered in recent years. She served as vice president in 2019 under President Alberto Fernández, whose government oversaw a slide into economic crisis by overprinting pesos that led to sharp spike in inflation.

But she has still been able to maintain a hardcore support base, particularly from working-class voters who relied on government subsidies under her and her husband’s governments.

“As a figure she’s not been overshadowed on the political scene by anyone,” said Carolina Barry, an expert on Peronism at the Universidad Nacional de Tres de Febrero in Buenos Aires. “Her words resonate with many groups.”

Kirchner has been sharply critical of Milei’s austerity, accusing him of cutting pensions and defunding public education. Milei has shot back that he would “love to bang the last nail in the coffin of Kirchnerismo, with Cristina Kirchner inside.”

“Justice,” wrote Milei on X after the verdict on Tuesday.

Alejandro Carrió, a constitutional and criminal law expert in Buenos Aires, said that even if Kirchner serves the sentence under house arrest, it was unclear “if with time she’ll lose the clear leadership she’s held for years.”

Kirchner faces charges in several other criminal cases and is scheduled to stand trial in November on accusations that she led a large-scale bribery scheme.

She’s not the first Argentine president to face a criminal conviction, joining, among others, former President Carlos Menem, who was sentenced to over four years in prison for embezzlement of public funds during his presidency in the 1990s. As a senator, congressional immunity protected him from prison.

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As global automakers brace for fallout from China’s tightening grip on rare earths exports, Hyundai Motor (KRX:005380,OTC Pink:HYMTF) appears to have quietly positioned itself ahead of the curve.

According to Reuters, a source familiar with the matter said on a recent investor call that the auto giant has stockpiled enough rare earth materials to maintain uninterrupted electric and hybrid vehicle production for about a year. The strategic stockpile should buy Hyundai critical time as supply chains buckle under mounting geopolitical tension.

China’s April decision to restrict exports of seven rare earths — a move requiring producers to obtain government licenses — has sent shockwaves through the auto, aerospace and semiconductor industries, particularly in the west.

But Hyundai, the world’s third largest automaker alongside affiliate Kia (KRX:000270), reportedly boosted its reserves during a brief window of relaxed Chinese controls, as per the source quoted by Reuters.

The Hyundai investor relations official reportedly told call participants that the company has “far more wiggle room” than rivals, citing successful procurement diversification and proactive inventory buildup.

Hyundai declined to confirm on inventory specifics in a public statement, but told Reuters, “We continuously evaluate market conditions to ensure operational stability and maintain a diversified global supply chain.”

Hyundai’s preparedness stands in contrast to the scramble now engulfing US and European manufacturers. Several major European suppliers have already reported production disruptions linked to delayed rare earths deliveries.

“We’re gradually coming into a very, very critical moment whereby those stocks are now being exhausted,” said Jonathan O’Riordan, international trade director at the European Automobile Manufacturers’ Association, in a Monday (June 9) interview with CNBC. “We are potentially going to see production stoppages.”

The rare earths crunch has become a central issue in US-China trade negotiations, which resumed on Monday in London and were set to continue Tuesday (June 10) morning, with Washington pushing for firmer guarantees.

Delegations led by Chinese Vice Premier He Lifeng and US officials — including Secretary of Commerce Howard Lutnick, Secretary of the Treasury Scott Bessent and Trade Representative Jamieson Greer — convened at Lancaster House in a bid to stabilize relations that have deteriorated beyond tariffs into critical minerals and tech controls.

The talks follow a May 12 truce that paused most of the 100-percent-plus tariffs both countries had imposed. However, since then, the US has accused China of “slow-walking” commitments, particularly regarding rare earths shipments.

US President Donald Trump, who last week spoke directly with Chinese President Xi Jinping, appeared optimistic on Monday, telling reporters at the White House, “We’re doing well with China. China’s not easy.”

He added, “We’re going to see,” when asked about lifting rare earths restrictions.

Kevin Hassett, Trump’s economic advisor, said the US is seeking a “handshake” agreement on resumed rare earths shipments, signaling that the mineral supply chain has now taken center stage in the global trade war.

For its part, China over the weekend appeared to open a narrow diplomatic path, announcing a “green channel” to fast track rare earths export licenses to select European Union firms. The country’s Ministry of Commerce also confirmed that it has quietly granted licenses to Chinese suppliers servicing major US automakers.

It remains unclear whether Hyundai’s buffer includes inventory held by its suppliers, or how the company may choose to ration usage in the event of further disruptions. Nonetheless, the South Korean firm’s ability to maintain stable production offers temporary reassurance for a jittery global auto market.

As trade talks continue in London, the question isn’t whether China will remain central to rare earths — it’s whether any other nations can afford to remain dependent.

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

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Chris Blasi, president of Neptune Global, believes gold still has much more room to run.

‘Some people think gold has reached its peak because it’s breached US$3,000 (per ounce), but I don’t think we’re even close,’ he said. ‘The third leg is when it delivers the greatest returns.’

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

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Department of Homeland Security Secretary Kristi Noem took a shot at Minnesota Gov. Tim Walz for how he handled the 2020 riots in his state, claiming that the Trump administration wouldn’t let history repeat itself in Los Angeles amid immigration protests. 

Noem, who previously served as governor of South Dakota, defended the Trump administration’s decision to deploy thousands of National Guard troops and hundreds of Marines to address the protests in Los Angeles, using Minnesota as an example of what happens when a ‘bad governor’ is in charge. 

‘I was a governor of a neighboring state to Tim Walz and watched him let his city burn,’ Noem told reporters Tuesday. ‘And the president and I have talked about this in the past, and he was not going to let that happen to another city and to another community where a bad governor made a bad decision.’ 

Walz was first elected governor of Minnesota in 2019, leading the state as protests broke out after the death of Black man George Floyd at the hands of a White police officer in 2020. While Walz has said he takes the blame for a delayed response activating the National Guard in his state, he has also said he is proud of how Minnesota reacted. 

‘I’m proud of Minnesota’s response. I’m proud of Minnesota’s first responders who were out there, from firefighters to police to the National Guard to citizens that were out there,’ Walz said in a 2022 gubernatorial debate. 

Walz’s office did not immediately respond to a request for comment from Fox News Digital. 

Meanwhile, the Trump administration is dispatching a total of 4,000 National Guard troops and 700 Marines to Los Angeles after protests broke out Friday stemming from U.S. Immigration and Customs Enforcement arrests in the city. 

President Donald Trump has gone head-to-head with California’s governor, Democrat Gavin Newsom, over the activation of the troops. While Trump has argued the National Guard troops are necessary to prevent destruction in Los Angeles, Newsom said most of the troops ‘are sitting, unused, in federal buildings without orders.’ 

Additionally, Newsom argued that the move violates state sovereignty because state governors typically oversee National Guard troops. However, Trump invoked a law to place the troops under federal command to bypass Newsom. 

‘This isn’t about public safety,’ Newsom said in a post on X on Monday. ‘It’s about stroking a dangerous President’s ego.’

The Associated Press contributed to this report. 

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The majority of House Democrats voted in favor of allowing non-citizens to participate in Washington, D.C. elections on Tuesday.

The House of Representatives passed a bill led by Rep. August Pfluger, R-Texas, to prohibit non-U.S. citizens from voting in elections in the nation’s capital.

It passed 266 to 148, with 56 Democrats joining Republicans in passing the measure. One Democrat voted ‘present,’ while 148 voted against the bill.

‘I believe strongly in not having federal overreach, but we have jurisdiction, Congress has jurisdiction over Washington, District of Columbia…and we don’t like to utilize our jurisdiction and our authority, but in this case, they’ve gone too far,’ Pfluger told Fox News Digital in an interview before the vote.

D.C.’s progressive city council passed the Local Resident Voting Rights Amendment Act in 2022, granting non-U.S. citizens the ability to vote in local elections if they’ve lived in the district for at least 30 days.

Noncitizens can also hold local elected office in the D.C. government.

The local measure has been a frequent target of GOP attacks, with Republican national security hawks raising alarms about the possibility of hostile foreign agents participating in D.C. elections.

But progressive Democrats like Rep. Maxwell Frost, D-Fla., who spoke out against the bill on Tuesday afternoon, have dismissed that as an implausible scenario. 

‘Republicans claim that Congress has a constitutional duty to legislate on local D.C. matters, but this is historically and legally incorrect. Republicans legislate on local D.C. matters only when they think they can score political points, such as by demonizing immigrants,’ Frost said during debate on the House floor.

‘They only bring it up to the floor when they think they can score political points, taking away the democratic rights of people here in D.C. and home rule.’

Frost also argued that it was ‘highly unlikely’ foreign officials would vote in those elections, claiming they would have to ‘renounce their right to vote in their home country’ and because ‘D.C. has no authority in federal matters.’

But Pfluger, who spoke with Fox News Digital before the vote, was optimistic that it would get at least some Democratic support.

He noted that 52 Democrats voted for the bill when it passed the House in the previous Congress. It was never taken up in the formerly Democrat-controlled Senate, however.

‘It’s hard to go back to your district as a Democrat and say, yeah, I want foreign agents to be able to vote in our elections – ‘Oh yeah, it’s not federal elections,’ some may say. But it has an impact on the way the city is run,’ Pfluger said.

‘This could be Russian embassy personnel, they could be Chinese embassy personnel – a number of folks. It’s just wrong. It goes against the fabric of our society,’ he added.

Another bill receiving a vote on Tuesday is legislation that would grant D.C. police the ability to negotiate punishments via collective bargaining, and would help shield the capital’s police force from at least some liability by installing a statute of limitations against the Metropolitan Police Department. 

That legislation was introduced by New York Republican Rep. Andrew Garbarino.

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Several Democratic senators, including one who remains the preacher at Martin Luther King Jr.’s church, joined several clergy members for a vigil in opposition to the One Big Beautiful Bill Act on the Capitol steps Tuesday.

‘Clergy and leaders in robes, collars and religious vestments will offer prayers, sing songs, read scripture and testify to the Gospel, providing a moral reckoning at this critical moment in history,’ read an advisory announcing the vigil obtained by Fox News Digital.

Rev. Jim Wallis, who advised the Obama administration on faith and neighborhood partnerships, told the crowd they ‘come today in spiritual procession – singing, reading Scripture and coming for a vigil on the Senate steps.’

‘Some say that we should keep faith out of politics – we’re saying while the Bible doesn’t give us detailed legislation, it tells us who to care for,’ Wallis went on. ‘We don’t want to let Jesus Christ be left outside the Senate chamber for this vote.’

Budget director pushes back against claim that

Wallis called Republicans’ budget a ‘big bad bill’ that will purportedly ‘take 60 million [people] off of health care.’

Sen. Chris Coons, D-Del., cited Luke 10, recalling the passage where a lawyer – ‘and it’s always a lawyer causing trouble,’ he quipped – asks Jesus who qualifies as a neighbor and who one ought to care for.

Coons claimed the GOP bill ‘literally takes the food from the mouths of hungry children to pass an enormous tax cut for the very wealthiest [and] is the definition of an immoral bill before this Congress.’

Later, Sen. Raphael Warnock, D-Ga. – reverend of Ebenezer Baptist Church in Atlanta – said the vigil felt like ‘déjà vu.’

Warnock recounted protesting via prayer and singing in the Capitol rotunda in 2017 – alongside former North Carolina NAACP president William Barber II – and said he ‘drew the short straw’ when he, but not Barber, was arrested.

‘As I stood there, I said then what I want to say today: That a budget is not just a fiscal document, it’s a moral document.’

‘Show me your budget and I’ll show you who you think matters and who does not – who you think is dispensable. Right. And we stood there in 2017 making the same point,’ he said, crediting the Capitol Police for arresting them in a professional manner. Warnock recounted that when he was warned of being arrested, he said he had ‘already been arrested.’

‘My mind and my imagination and my heart had been arrested by the heartbeat of children who should not lose their food and who should not lose healthcare in order to give wealthy people a tax cut,’ he said, suggesting the same was true with Republicans’ latest budget bill.

‘Here I am eight years later, having transformed my agitation into legislation.’

‘I’m here today because I still know how to agitate – I still know how to protest. I’m not a senator who used to be a pastor. I’m a pastor in the Senate.’

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Expect the House of Representatives to make ‘technical corrections’ to President Donald Trump’s ‘big, beautiful bill’ Wednesday.

But if you blink, you might miss it.

Senate Republicans are now in the middle of the ‘Byrd Bath’ with Senate Parliamentarian Elizabeth MacDonough. This is a process, named after late Senate Majority Leader Robert Byrd, D-W.Va., to exclude provisions from budget reconciliation packages that don’t comport with special Senate budget rules. 

The Senate must use this special process to avoid a filibuster.

Some items in the House bill don’t fit into the bill under those special budget rules. So, they are tossing them out. But the House must essentially alter the bill and send it back to the Senate.

The House will embed those changes into a ‘rule’ Wednesday to tee up the spending cancellations bill to trim money for USAID and public broadcasting for debate and a vote on Friday.

So, the ‘altered’ bill, with the technical corrections, goes back to the Senate.

‘I think it’s going to be nothing that was unexpected. I don’t think it’s going to be a problem,’ House Speaker Mike Johnson, R-La., said.

‘I’m trying to defend my product that was sent over there. As you all know, it took a long time to get that balance.’

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