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The Department of Justice has filed an official complaint alleging misconduct by US District Court Chief Judge James Boasberg. Fox News has reviewed the complaint which was written by Attorney General Pam Bondi’s Chief of Staff Chad Mizelle and addressed to the Chief Judge of the United States Court of Appeals for the District of Columbia Circuit, Sri Srinivasan.

Fox News has learned that the complaint was written and filed at the direction of Attorney General Pam Bondi.

‘The Department of Justice respectfully submits this complaint alleging misconduct by U.S. District Court Chief Judge James E. Boasberg for making improper public comments about President Donald J. Trump to the Chief Justice of the United States and other federal judges that have undermined the integrity and impartiality of the judiciary,’ says Mr. Mizelle.

Judge Boasberg is presiding over a high-profile case involving the deportation of several migrants to El Salvador and has talked about holding DOJ lawyers in contempt because of his assertion that his order to turn airborne planes around was not followed. President Trump has also made critical comments about Judge Boasberg.

The complaint details two occasions on which Judge Boasberg made comments the Justice Department alleges undermine the integrity and impartiality of the judiciary.

‘On March 11, 2025, Judge Boasberg attended a session of the Judicial Conference of the United States, which exists to discuss administrative matters like budgets, security, and facilities. While there, Judge Boasberg attempted to improperly influence Chief Justice Roberts and roughly two dozen other federal judges by straying from the traditional topics to express his belief that the Trump Administration would ‘disregard rulings of federal courts’ and trigger ‘a constitutional crisis.’ Although his comments would be inappropriate even if they had some basis, they were even worse because Judge Boasberg had no basis—the Trump Administration has always complied with all court orders. Nor did Judge Boasberg identify any purported violations of court orders to justify his unprecedented predictions.’

‘Within days of those statements, Judge Boasberg began acting on his preconceived belief that the Trump Administration would not follow court orders. First, although he lacked authority to do so, he issued a temporary restraining order preventing the Government from removing violent Tren de Aragua terrorists, which the Supreme Court summarily vacated.

Taken together, Judge Boasberg’s words and deeds violate Canons of the Code of Conduct for United States Judges, and, erode public confidence in judicial neutrality, and warrant a formal investigation.’ 

The DOJ is asking Chief Judge Srinivasan to refer the complaint to a special investigative committee as an inquiry is essential to determine whether Judge Boasberg’s conduct constitutes ‘conduct prejudicial to the effective and expeditious administration of the business of the courts.’ The complaint also asks that Judge Boasberg be taken off the case involving Venezuelan migrants who were deported to El Salvador, ‘to prevent further erosion of public confidence while the investigation proceeds.’

The case in question is J.G.G. v Trump.

This is the second time the Bondi DOJ has filed an official complaint against a federal judge. In late February, the DOJ filed a complaint about US District Judge Ana Reyes, concerning what the DOJ calls Judge Reyes’ ‘misconduct’ during the proceedings in Nicolas Talbott et al. v. Donald J. Trump et al., which is a case brought by two LGBTQ groups challenging the Trump Administration’s Executive Orders barring transgender individuals from serving in the US military.

News of the complaint comes at a time when the Trump administration has excoriated dozens of so-called ‘activist’ judges who have blocked or paused some of Trump’s sweeping executive orders from taking force in his second White House term.

Judge Boasberg in particular found himself at the center of Trump’s ire and attacks on so-called ‘activist’ judges this year, following his March 15 temporary restraining order that sought to block Trump’s use of the Alien Enemies Act to quickly deport hundreds of Venezuelan nationals to El Salvador.

Boasberg had ordered all planes bound for El Salvador to be ‘immediately’ returned to U.S. soil, which did not happen.

His emergency order touched off a complex legal saga that ultimately spawned dozens of federal court challenges across the country – though the one brought before his court on March 15 was the very first – and later prompted the Supreme Court to rule, on two separate occasions, that the hurried removals had violated migrants’ due process protections under the U.S. Constitution.

Boasberg, as a result, emerged as the man at the center of the legal fallout. 

Trump administration officials have repeatedly excoriated Boasberg both for his order and his attempt to determine whether they acted in good faith to comply with his orders, and Trump himself has floated the idea that Boasberg could be impeached earlier this year – prompting Supreme Court Chief Justice John Roberts to issue a rare public warning. 

The complaint, focused on months-old behavior and allegations surrounding Judge Boasberg— first tapped as a judge by then-President George W. Bush in 2002, comes at a time when he could again have a say in a major class action case brought by lawyers representing the former CECOT migrants. 

Lawyers for the ACLU and others in the class asked Judge Boasberg earlier this month to reopen discovery in the case, citing allegations from a United Nations report regarding custodial status of migrants at CECOT, and the recent decision to remove the 252 migrants sent from the U.S. to El Salvador to Venezuela under the prisoner exchange.

Asked at a status hearing in court last week whether the Justice Department would comply with the court’s orders, DOJ lawyer Tiberius Davis said they would, ‘if it was a lawful order.’

They also said they would likely seek an appeal from a higher court.

In April, Judge Boasberg also ruled that the court had found ‘probable cause’ to hold the Trump administration in contempt for failing to return the planes to U.S. soil, in accordance with his March 15 emergency order, and said the court had determined that the Trump administration demonstrated a ‘willful disregard’ for his order.

The U.S. Court of Appeals for the D.C. Circuit stayed his original motion in April, and has yet to move on the matter.

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When the ambulance arrived in the Kensington neighborhood of Philadelphia two years ago, an angry EMT got out and barked at the crowd, ‘Who called this in?’ 

Standing next to my cameraman and above the prone body of a shirtless soul bedecked in boils and not moving, I said, ‘I did.’ He didn’t say a word, he looked at me, then down the street at the dozens of strung out bodies, then back at me as if to say, ‘Look at all this, what do you want me to do?’

I had no answer.

Last week, President Donald Trump did answer that question with a much-welcome executive order (EO) intended to bring back civil commitment, in other words, the ability to put people who are a danger to themselves or others in institutions, even against their will.

Civil libertarians are in a tizzy over the EO. They insist this is an abuse of due process and harkens to the bad old days, when hundreds of thousands of Americans were committed to mental institutions, sometimes for dubious reasons.

But in examining and judging Trump’s proposed policy here, it is important to understand and accept what the status quo on the ground is right now, and it is nothing short of horrific.

I’ve traveled to homeless encampments all over America, from tucked-away Manhattan underpasses to the sprawling chaos of San Francisco’s Tenderloin, a place you literally smell a block before you enter.

In these encampments, your gag reflex is challenged by needles sticking out of necks and mountains of human detritus, but the real soul-crushing, existential sadness comes from knowing that these human beings are just being left to die.

For decades now, Democrats have spent endless dollars on fruitless efforts to fix the homeless problem. In California alone, Gov. Gavin Newsom has spent $20 billion on failing to fix it, and only recently admitted the encampments have to go.

In these encampments, your gag reflex is challenged by needles sticking out of necks and mountains of human detritus, but the real soul-crushing, existential sadness comes from knowing that these human beings are just being left to die.

What the Trump administration realizes is that Democrats refuse to accept is that homelessness is, actually, two very distinct problems. One is financial, the other is a matter of addiction and mental health.

Financial homelessness is fairly easy to address. The evicted mother living in her car can be given temporary housing and job assistance. She really does just need a hand up.

San Francisco weighs ban on homeless people living in RVs

Homelessness related to mental illness and addiction, however, isn’t really a homelessness problem at all, it’s an addiction and mental illness problem, and shockingly, just letting people in tents shoot up in what was once a thriving commercial district doesn’t solve it.

As I have wandered the streets of these hellscapes in city after city, my question hasn’t really been if these people would be better off in an institution, but rather, if they weren’t in a de facto open-air institution already.

What does it matter if these places lack walls and locks? They are cages nonetheless, cruel prisons whether voluntary or not.

As I have wandered the streets of these hellscapes in city after city, my question hasn’t really been if these people would be better off in an institution, but rather, if they weren’t in a de facto open-air institution already.

Opponents of civil commitment insist you cannot take away people’s freedom! But freedom to do what? Shoot fentanyl every day until they die on a curbside, pockets rifled by another desperate junkie?

If it was your child on these broken and brutal streets of death, would you want them to be left in freedom to waste away, or would you want them taken somewhere where they could be protected and helped?

Residents rally against NYC homeless shelter plans after district changed original plan for affordable housing

Opponents will say that civil commitment can be abused. They will point to the 1950s when homosexuals were sent to institutions, but it’s not 1950. We aren’t going to institutionalize gay people, and we cannot be paralyzed by a bigoted past when trying to save lives today.

Could there be abuses or mistakes made regarding civil commitment? Sure, but people are dying in the streets right now, and we must trust ourselves to actively help them, without stepping over the line.

Annoyed with me, or not, that day in Kensington, the EMT revived the man at my feet, who, it turns out, wasn’t dead, after all. Instead, he was angry, because the Narcan that woke him up also negated the high he had paid for.

There are really only two sides to be on here: the side that says we are going to do everything we can to save that man’s life, even against his will, or the side that condemns him to an open-air prison of his own making.

President Trump has chosen wisely, and if local governments take heed, it is going to save a lot of lives across America.

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President Donald Trump’s new deadline for Russia to end the conflict with Ukraine is an additional ‘step towards war,’ according to former Russian President Dmitry Medvedev.  

Medvedev, now the deputy chairman of the Security Council of Russia, cautioned that Trump’s announcement Monday that Russia must end the conflict with Ukraine in 10 to 12 days would not end well for the U.S. 

‘Trump’s playing the ultimatum game with Russia: 50 days or 10… He should remember 2 things: 1. Russia isn’t Israel or even Iran. 2. Each new ultimatum is a threat and a step towards war. Not between Russia and Ukraine, but with his own country,’ Medvedev said in a post on X on Monday. ‘Don’t go down the Sleepy Joe road!’

While Trump announced on July 14 that he would sign off on ‘severe tariffs’ against Russia if Moscow failed to agree to a peace deal within 50 days, Trump said Monday that waiting that period of time was futile amid stalled negotiations. 

‘I’m going to make a new deadline, of about 10 — 10 or 12 days from today,’ Trump told reporters from Scotland. ‘There’s no reason for waiting. It was 50 days. I wanted to be generous, but we just don’t see any progress being made.’

Trump’s remarks come as his frustration with Putin has grown in recent weeks amid no progress toward peace between Russia and Ukraine, and just a day after Russia launched more than 300 drones, four cruise missiles and three ballistic missiles into Ukraine, according to the Ukrainian air force.

 

Trump called out Putin for providing lip service during their discussions while not taking proactive steps to end the war. As a result, Trump said he’s grown ‘disappointed’ in the Russian leader and that he’s ‘not so interested in talking anymore’ with Putin. 

‘He talks — we have such nice conversations, such respectful and nice conversation. And then, people die the following night,’ Trump said Monday. 

Following Trump’s announcement about whittling down the deadline for a peace deal, Ukrainian President Volodymyr Zelenskyy thanked Trump for his ‘clear stance and expressed determination’ to resolve the conflict.

‘I thank President Trump for his focus on saving lives and stopping this horrible war,’ Zelenskyy said in a post on X on Monday. ‘Ukraine remains committed to peace and will work tirelessly with the U.S. to make both our countries safer, stronger, and more prosperous.’

Zelenskyy previously came under scrutiny from Vice President JD Vance in February during an Oval Office meeting for not voicing more gratitude for U.S. support for Kyiv as it battles Moscow.

Although Trump has historically boasted about having a solid relationship with Putin, he has publicly voiced increased frustration with Putin in recent weeks as the war rages on between Russia and Ukraine. 

‘We get a lot of bulls— thrown at us by Putin, if you want to know the truth,’ Trump said during a Cabinet meeting on July 8. ‘He’s very nice to us all the time, but it turns out to be meaningless.’

Fox News Digital’s Caitlin McFall 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’), which is focused on its 100% owned past producing Borralha and Vila Verde tungsten projects in northern Portugal, is pleased to announce a strategic non-brokered private placement offering (the ‘Offering’) of up to 13,333,334 units of the Company (the ‘Units’ and, each, a ‘Unit’) at a price of $0.30 per Unit to raise gross proceeds of up to $4,000,000.20. Each Unit will be 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 will entitle the holder thereof to acquire one additional Share (each a ‘Warrant Share’) at a price of $0.40 per Warrant Share and will be 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.

The Offering is subject to approval of the Canadian Securities Exchange (the ‘CSE‘), and all Units and securities of the Company issued pursuant to the Offering will be subject to a four month hold period from the date of issuance. The Offering will not result in the creation of a new insider or control person of the Company.

The Company may pay finder’s fees in connection with the Offering to eligible finders in accordance with policies of the CSE and applicable securities laws consisting of (i) a cash commission of up to 7% of the gross proceeds of the Offering, and (ii) a number of finders warrants (‘Finders Warrants‘), equal to up 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 closing date of the Offering (the ‘Closing Date‘). The Offering is expected to close on or about August 13, 2025, or such other date(s) as determined by the Company.

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

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/260385

News Provided by Newsfile via QuoteMedia

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Here’s a quick recap of the crypto landscape for Monday (July 28) as of 9:00 p.m. UTC.

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

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$117,888, down by 0.9 percent over the last 24 hours. Its highest valuation on Monday was US$118,719, while its lowest valuation was US$117,498.

Bitcoin price performance, July 28, 2025.

Chart via TradingView

Bitcoin is now approaching a “strong resistance” level between US$119,000 and US$120,000, according to crypto analytics platform Coinank.

In a note to clients, 10x Research founder Markus Thielen described this Bitcoin bull market as defined by sudden, catalyst-driven bursts of momentum and subsequent pauses, making it crucial for traders to focus on macro triggers and react quickly to breakouts rather than relying on a calendar-driven approach.

He cited that a pullback to under US$112,000, the former resistance-turned-support level of the May high, would be the best entry point for BTC bulls. “We would prefer to see bitcoin retest its $111,673 breakout level to provide a more favorable risk/reward entry point.”

Ethereum (ETH) was priced at US$3,786.54, down by 1.1 percent over the past 24 hours. Its lowest valuation on Monday was US$3,763.07, and its highest was US$3,855.16.

Altcoin price update

  • Solana (SOL) was priced at US$185, down by 1.2 percent over 24 hours. Its lowest valuation on Monday was US$184.91, and its highest was US$191.10.
  • XRP was trading for US$3.15, down by 1.9 percent in the past 24 hours. Its lowest valuation of the day was US$3.13, and its highest valuation was US$3.19.
  • Sui (SUI) is trading at US$3.99, down 8.1 percent over the past 24 hours. Its lowest valuation of the day was US$3.97, and its highest was US$4.21.
  • Cardano (ADA) was trading at US$0.7963, down by 3.7 percent over 24 hours. Its lowest valuation on Monday was US$0.7937, and its highest was US$0.8223.

Today’s crypto news to know

Bitcoin blasts surpasses US$119,000 as Trump’s EU tariff fuels optimism

Bitcoin surged to just under US$120,000 over the weekend after US President Donald Trump announced a tariff de-escalation deal with the European Union, easing global trade tensions.

The deal cuts planned tariffs from 30 percent to 15 percent, triggering a risk-on rally across markets and slightly boosting crypto sentiment. BTC has hovered below all-time highs for weeks, but Monday’s policy shift helped break resistance, with traders eyeing a new leg higher.

Meanwhile, Ether (ETH) also climbed 3.7 percent to US$3,932, drawing strength from corporate interest and growing ETH treasury holdings by firms.

XRP followed suit, rising 2 percent to US$3.30 as ETF rumors continued to drive speculative interest.

ARK Invest chooses SOL Strategies as staking partner

ARK Invest has chosen SOL Strategies, a publicly traded Canadian company focused on the Solana blockchain ecosystem, as its exclusive Solana staking partner for the Digital Assets Revolutions Fund. This agreement means ARK Invest’s validator operations will transition to SOL Strategies’ staking infrastructure.

SOL Strategies CEO Leah Wald highlighted their focus on providing compliant, reliable access to Solana for institutional and enterprise clients through delegated staking and custom validator infrastructure.

“Cathie Wood and her team at ARK are widely respected for their crypto and tech investing. Their confidence in our validator capabilities reinforces our commitment to providing best-in-class staking solutions for institutional clients,” Wald said in a press release.

The initiative will also involve BitGo, an institutional custody platform that partnered with SOL Strategies in April.

SOL Strategies emphasized that this partnership with ARK Invest, a firm with a history of investing in various staking solutions, validates their institutional infrastructure and market position.

SOL Strategies emphasized that this partnership with ARK Invest, a firm with a history of investing in various staking solutions, validates their institutional infrastructure and market position.

Tron seeks to raise funds for treasury expansion

Tron (NASDAQ:TRON) is looking to raise US$1 billion, according to a Form S-3 filing with the US Securities and Exchange Commission (SEC).

The filing states that Tron plans to raise funds through a combination of common stock, preferred stock, debt securities, warrants and rights. This follows the company’s reverse merger with Justin Sun’s blockchain project.

The funds will primarily be used to expand the company’s TRX treasury, which already holds over 365 million TRX tokens following last month’s reverse merger.

Tron’s SEC filing detailed a treasury strategy including cash, short-term equivalents, and TRX tokens, stating, “We view our TRX token holdings as long-term holdings and expect to continue to accumulate TRX tokens.”

PayPal to launch new crypto payment system for merchants

PayPal (NASDAQ:PYPL) is rolling out a new service, Pay with Crypto, designed to simplify international payments for merchants and reduce associated fees. The new offering will allow US merchants to accept payments in more than 100 cryptocurrencies, including USDC. Payments will be instantly converted to either stablecoin or fiat currency, providing merchants with immediate access to funds.

The service will support a wide range of popular digital wallets, such as Coinbase Global (NASDAQ:COIN), MetaMask, OKX, Binance, Kraken, Phantom and Exodus, with more integrations expected.

Pay with Crypto aims to reduce global business losses from complex banking and high cross-border transaction fees by up to 90 percent. It offers a 0.99 percent transaction rate until July 31, 2026, and merchants can hold funds in PYUSD to potentially earn a 4 percent reward.

PayPal CEO Alex Chriss emphasized that this initiative will empower businesses of all sizes to expand globally by removing barriers like high international payment costs and complex integrations. He cited an example of a merchant in Oklahoma City being able to easily accept crypto from a shopper in Guatemala, improving profit margins and accelerating fund access.

This launch follows last week’s introduction of PayPal World, a new global platform that connects five of the world’s largest digital wallets, fundamentally reshaping international money movement. Pay with Crypto is set to become available to US merchants in the coming weeks.

Metaplanet adds 780 more BTC

Tokyo-listed Metaplanet has purchased an additional 780 bitcoin, raising its total holdings to 17,132 BTC—worth roughly US$2 billion at current prices.

The company disclosed that it paid an average of ¥17.5 million (AU$118,176) per coin, continuing its aggressive treasury strategy modeled after Strategy (NASDAQ:MSTR). With an average acquisition cost of around US$99,732 per bitcoin, Metaplanet remains deeply in profit on paper.

The firm also tracks a proprietary metric called BTC Yield, which it says hit 22.5 percent in July alone and soared to 129.4 percent in Q2.

Metaplanet’s stock rose 5 percent on Monday to 1,240 yen.

Crypto still seen as risky and niche by most Americans, new poll finds

Despite surging prices and friendlier regulations, most Americans remain skeptical of cryptocurrency, according to new Gallup polling data.

Only 14 percent of adults say they own any form of crypto, and a large majority—around 60 percent—indicate they have no intention of buying in. The biggest barrier remains perceived risk, with most respondents rating crypto as either ‘very risky’ or ‘somewhat risky.’

Ownership skews heavily toward younger men aged 18 to 49, 25 percent of whom report holding crypto, while adoption among seniors and women remains minimal.

Notably, public understanding still lags: while nearly everyone has heard of crypto, only about a third say they know much about it.

The data suggests a gap between increasing institutional acceptance—spurred by new legislation like the Genius and Clarity Acts—and persistent public doubt about digital assets’ stability and utility.

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

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

This post appeared first on investingnews.com

Torex Gold (TSX:TXG,OTCQX:TORXF) is acquiring Prime Mining (TSX:PRYM,OTCQX:PRYM) in an all-share deal worth US$449 million, gaining full control of the Los Reyes gold-silver project in Mexico as it builds out an Americas-focused mining portfolio.

Under the terms of the deal, Torex will gain 100 percent ownership of Prime’s Los Reyes project in Sinaloa, an advanced-stage gold-silver asset with indicated resources of 1.5 million ounces of gold and 54 million ounces of silver, and inferred resources of 538,000 ounces of gold and 21.6 million ounces of silver.

“This acquisition supports our strategy to systematically build a diversified, Americas-focused precious metals producer,” Torex CEO Jody Kuzenko said in a recent press release.

“Los Reyes has multiple high-potential mineralized zones which remain open along strike and at depth, and we are confident that the project has strong untapped upside with numerous avenues for growth,” Kuzenko added.

Upon completion, Prime shareholders will own approximately 10.7 percent of Torex. About 10.5 million Torex shares will be issued to complete the deal.

Torex already operates the Morelos Complex in Guerrero, Mexico, home to its El Limón Guajes and newly commissioned Media Luna mines. The company produced more than 450,000 ounces of gold in 2024, making it Mexico’s largest gold producer that year.

It also recently announced the all-cash acquisition of Reyna Silver (TSXV:RSLV,OTC:RSNVF) a transaction scheduled for shareholder approval in August.

Torex plans to apply its in-country project development team and free cash flow from Media Luna to fund the Los Reyes buildout without requiring additional external financing.

“In addition to gaining exposure to Torex’s free-cash flowing Morelos Complex, Prime Mining shareholders can continue to realize significant value creation as Los Reyes is developed with the benefit of Torex’s operational and development experience in Mexico,” said Prime CEO Scott Hicks.

Torex will add 1.5 million ounces of gold in the indicated category and 538,000 ounces in inferred resources through the acquisition, increasing its total measured and indicated resources by 32 percent to 6.2 million ounces and inferred resources by 44 percent to 1.8 million ounces.

It also adds substantial silver exposure through Los Reyes’ combined 75.6 million ounces of indicated and inferred silver resources.

The Los Reyes land package also includes three key mineralized zones, namely Z-T, Guadalupe East, and Central, along with other several underexplored targets.

Torex expects to leverage its permitting and construction track record to advance Los Reyes efficiently. The company completed the US$800 million El Limón Guajes mine in 2015 and brought the US$1 billion project Media Luna into commercial production in May of this year.

The transaction remains subject to regulatory approvals and the approval of Prime shareholders. It is expected to close in the fourth quarter of 2025.

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

This post appeared first on investingnews.com

After spiking above US$20,000 per metric ton in May 2024, nickel prices have experienced a downward trend, mainly remaining in the US$15,000 to US$16,000 range.

Indonesia’s elevated production levels have been a primary factor contributing to low commodity prices, as sustained high output continues to oversupply the market. The supply surplus has had a knock-on effect, putting pressure on Western producers who have been forced to slash their production to maintain profitability.

Elevated output coincides with electric vehicle (EV) demand, which is under threat as market uptake has slowed, and policy changes in the United States are expected to increase costs for consumers and lower sentiment for the vehicles.

Nickel sinks to 2020 lows

Commodity prices crashed at the start of the quarter, with nickel falling to a five-year low, reaching US$14,150 per metric ton on April 8. However, prices quickly recovered from the rout and reached US$15,880 on April 24.

The end of April saw the price once again retreat to US$15,230 as downward trend indications began to take hold. The price through May was largely rangebound, starting the month rising to US$15,850 on May 9 before collapsing again to US$15,085 on May 27.

Nickel price chart, April 01 to July 24, 2025

via TradingEconomics

June started with a short-lived rebound to US$15,510 on June 2, before falling to below the US$15,000 mark to reach US$14,840 on June 24. Since then, the price experienced some upward momentum, reaching US$15,575 on July 23.

Supply surplus causing price pressures

In a presentation at the Indonesian Mining Conference on June 30, Ricardo Ferreira, Director of Market Research and Statistics at the International Nickel Study Group (INSG) outlined the current state of the nickel market.

He suggested that high output from Indonesian miners continued to exert downward price pressures on nickel over the last several years, resulting in a decline from an average price of US$30,425 per metric ton in 2022 to an average of US$15,000 per metric ton during the first five months of 2025.

Meanwhile, combined inventories on the London Metals Exchange (LME) and the Shanghai Futures Exchange (SHFE) have exploded from 38,200 metric tons at the end of May 2023 to 230,600 metric tons at the end of April 2025.

This coincides with a 15.1 percent increase in global nickel production in 2023 and a 2.3 percent increase in 2024. The expectation is that nickel output will surge an additional 8.5 percent in 2025, with a significant portion to come from Indonesia, whose share is forecast to grow to 63.4 percent from 61.6 percent in the previous year.

The demand outlook

However, demand has not kept pace with the increase in production. Ferreira stated that demand increased by 7.8 percent in 2023, 4.8 percent in 2024, and is expected to grow by 5.7 percent in 2025.

Stainless steel has been the primary driver of nickel demand for decades. Still, Olivier Masson, Principal Analyst for Battery Raw Materials at Fastmarkets, predicts a changing demand landscape over the next couple of years.

During his CAM Minerals Market Forecast at the Fastmarkets LBRM Las Vegas conference on June 22 to 25, Masson provided insight into why he believes the current oversupply situation will begin to shift by 2027.

Currently, nickel’s primary demand driver is in the production of stainless steel, accounting for just over 2 million metric tons per year. However, the expectation is that between now and 2035, total demand for nickel will increase by 2 million tons, with stainless production accounting for just 564,000 metric tons. A compound annual growth rate (CAGR) of 2 percent.

“We expect to see more end-of-life scrap being generated within China, and then that should start slowing down the growth requirements for primary nickel in the Chinese stainless-steel industry,” Masson explained.

The remaining demand is predicted to come from a 12.8 percent, or 1.4 million metric ton, increase from the EV sector.

“Most of this growth will come from pure EV, so pure battery electric vehicles, where we expect sales growth of over 30 million vehicles… But we still expect an increase in plug-in hybrids with an additional 11.5 million vehicle sales over the next decade,” Masson said.

He went on to say that over that time, supply is expected to grow at a slower rate, with the majority owed to increases in nickel sulphate destined for battery manufacturing.

“So what does that mean for the balance for the nickel market? Well, the nickel market has been oversupplied for the past couple of years. We expect that to continue this year and for the next few years. So we are in a state of structural oversupply. That said, its only by around 2027 or 2028 that we think the market will start to return to a semblance of Balance,” Masson explained

In the long term, he stated that an additional 750,000 metric tons will be needed by 2035, which he doesn’t see as a significant problem.

Production curtailments continue

With the market currently experiencing a supply glut, more producers have taken to curtailing production or shuttering operations.

Since 2024, there have been closures of significant operations, including First Quantum’s (TSX:FM,OTC:FQVLF) Ravensthorpe and Panoramic Resources’ Savannah operations in Australia and Glencore’s (LSE:GLEN,OTC Pink:GLCNF,OTC:GLCNF) Koniambo Nickel mine in New Caledonia.

Likewise, Refiners have also been under pressure as BHP (ASX:BHP,NYSE:BHP,LSE:BHP,OTC:BHPLF) suspended operations at its Nickel West refinery in Australia until 2027, and Sibanye Stillwater (NYSE:SBSW) repurposed its Sandouville nickel refinery in France to produce precursor cathode active material during the first half of 2025.

According to INSG data, 32 percent of global nickel production lines are currently offline.

One of the few companies to buck the trend was Vale (NYSE:VALE), which announced a 44 percent year-over-year increase in nickel production in its Q2 2025 report released on July 22. The report indicated that nickel output rose to 40,300 metric tons from 27,900 during the same quarter last year. The company said gains were driven by strong performance from its Canadian assets and the Onca Puma mine in Brazil.

While there was some speculation that Indonesia may reduce its output, no cuts have materialized, which has in part led Australian investment bank Macquarie to downgrade its nickel outlook to US$14,500 per metric ton by the end of the year, from the US$15,500 it predicted at the end of Q1.

The impact of trade uncertainty

Base metals were caught up as part of the fallout from Donald Trump’s “Liberation Day” announcement on April 2. The move applied a 10 percent across-the-board baseline tariff to all but a handful of countries and threatened to impose more significant retaliatory tariffs starting on April 9.

However, a steep US$6.6 trillion sell-off in equity markets and a squeeze in the bond market that sent yields for 10-year Treasuries up more than half a percent caused the US administration to walk back its plans. Instead, it announced a 90-day pause on the higher tariff rate and stated that it would work to negotiate new trade agreements.

The commodity price rout came as more analysts began to speculate about a recession later in 2025, which would reduce consumer spending on steel-dependent goods, such as light vehicles and new home builds.

In statements made during S&P Global’s State of the Market: Mining Q1’ 25 webinar on May 14, Naditha Manubag, Associate Research Analyst of Metals and Mining Research, suggested that nickel is likely to experience headwinds from the evolving trade policy in the United States.

“We expect nickel prices to remain volatile in the near term as the Trump administration’s trade policies continue to evolve. Forecast for 2025 global primary nickel demand is lowered to 2.8 percent year-over-year due to the expected slowdown in global economic activity,” she said.

Manubag said the slowdown would have a negative impact on demand for Chinese consumer goods, which would come alongside a rising Indonesian mining quota in 2025. Although prices spiked in March, she explained that it was due to tight supplies from the rainy season and increased royalty rates.

Manubag suggested that S&P’s overall expectation is that the nickel market will be in a surplus of 198,000 metric tons in 2025. As a result, the organization has lowered its nickel price forecast to US$15,730 per metric ton.

It’s more than just US tariffs that are expected to weigh on nickel prices in the short term. When Donald Trump signed the “One Big Beautiful” spending bill into law on July 4, it marked an end to the federal EV tax credit and other tax credits aimed at expanding charging infrastructure, a cornerstone of the Inflation Reduction Act.

The consumer credit was meant to provide a US$7,500 rebate toward the purchase of new EVs, and is expected to have an impact on overall demand when it expires on September 30.

Although the majority of nickel’s demand comes from the production of stainless steel, the growing demand from EV battery production has provided additional tailwinds; however, a decline in EV demand could impact future demand growth.

“If and when this bill is passed, a slowdown of EV uptake is expected to lead to higher EV prices and slower rollout of charging infrastructure,” Manubag said.

The big picture for investors

Currently, the easiest way to sum up the nickel market is that it’s widely disliked. The fundamentals aren’t there. A significant portion of nickel is being produced at a loss.

“You know, nickel is hated right now. I think there’s a decent case for nickel, just like when we went into platinum, right? Platinum did nothing for a decade; it just hung around US$900 to US$1,000, and now we’ve finally broken out… You have no idea when, but buy it when it’s boring. At US$900, no one cares, and then you get to ride the wave up. So I think that would be it. Pay attention to what’s unloved and hated and buy that,” he said.

Others in the investment community have expressed a similar sentiment. Although fundamentals for nickel are currently lacklustre, demand, especially from the automotive sector, is expected to grow over the next 10 years.

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

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‘The uranium story itself is finally getting better… the near perfect storm is here.’ he said, noting that all the factors that should drive electrical demand higher are merging, particularly electrification and AI data center needs.

‘I don’t think uranium has to go to US$200 in order to make money,” said Grandich. I just think it needs to go back to where it was a couple years ago, a little above US$100 and these stocks will quadruple.’

Watch the interview above for more from Grandich on the energy sector and gold’s 2025 performance.

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

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Samsung Electronics has entered into a $16.5 billion contract for supplying semiconductors to Tesla, based on a regulatory filing by the South Korean firm and Tesla CEO Elon Musk’s posts on X.

The memory chipmaker, which had not named the counterparty, mentioned in its filing that the effective start date of the contract was July 26, 2025 — receipt of orders — and its end date was Dec. 31, 2033.

However, Musk later confirmed in a reply to a post on social media platform X that Tesla was the counterparty.

He also posted: “Samsung’s giant new Texas fab will be dedicated to making Tesla’s next-generation AI6 chip. The strategic importance of this is hard to overstate. Samsung currently makes AI4.TSMC will make AI5, which just finished design, initially in Taiwan and then Arizona.”

“Samsung agreed to allow Tesla to assist in maximizing manufacturing efficiency. This is a critical point, as I will walk the line personally to accelerate the pace of progress,” Musk said on X, and suggested that the deal with Samsung could likely be even larger than the announced $16.5 billion.

Samsung earlier said that details of the deal, including the name of the counterparty, will not be disclosed until the end of 2033, citing a request from the second party “to protect trade secrets,” according to a Google translation of the filing in Korean on Monday.

“Since the main contents of the contract have not been disclosed due to the need to maintain business confidentiality, investors are advised to invest carefully considering the possibility of changes or termination of the contract,” the company said.

The company’s shares rose over 6% in trading on Monday to reach their highest level since September 2024.

Tesla was a probable customer, Ray Wang, research director of semiconductors, supply chain and emerging technology at The Futurum Group, told CNBC before Musk’s post. Bloomberg News had earlier reported that Samsung’s deal was with Tesla, citing a source.

Samsung’s foundry service manufactures chips based on designs provided by other companies. It is the second largest provider of foundry services globally, behind Taiwan Semiconductor Manufacturing Company.

The company stated in April that it aimed to commence 2 nanometer mass production in its foundry business and secure major orders for the next-generation technology. In semiconductor technology, smaller nanometer sizes signify more compact transistor designs, which lead to greater processing power and efficiency.

Local South Korean media outlets have also reported that American chip firm Qualcomm could place an order for chips manufactured using Samsung’s 2 nanometer technology.

Samsung, which is set to deliver earnings on Thursday, expects its second-quarter profit to more than halve. An analyst previously told CNBC that the disappointing forecast was due to weak orders for its foundry business and as the company has struggled to capture AI demand for its memory business.

The company has fallen behind competitors SK Hynix and Micron in high-bandwidth memory chips — an advanced type of memory used in AI chipsets.

SK Hynix, the leader in HBM, has become the main supplier of these chips to American AI behemoth Nvidia. While Samsung has reportedly been working to get the latest version of its HBM chips certified by Nvidia, a report from a local outlet suggests these plans have been pushed back to at least September.

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A federal judge in Boston on Monday blocked the Trump administration from ending federal Medicaid reimbursements for Planned Parenthood clinics nationwide, ruling that the effort is likely unconstitutional and in violation of the group’s First Amendment protections. 

U.S. District Judge Indira Talwani, an Obama appointee in Boston, granted Planned Parenthood’s request for a nationwide preliminary injunction. ‘Patients are likely to suffer adverse health consequences where care is disrupted or unavailable,’ she said in her order on Monday.

‘In particular, restricting members’ ability to provide healthcare services threatens an increase in unintended pregnancies and attendant complications because of reduced access to effective contraceptives, and an increase in undiagnosed and untreated STIs,’ she added.

Judge Talwani said Monday that Planned Parenthood had sufficiently demonstrated to the court that they were ‘likely to succeed on the merits’ of their lawsuit— one of the ways in which judges evaluate emergency requests for injunctive relief—citing the harm that patients and clinics would likely suffer as a result of the lost Medicaid funding.

Attorneys for Planned Parenthood had sued over the Medicaid cuts earlier this month, which were enacted under a provision of the ‘one big beautiful bill’ narrowly cleared by the Republican-led Congress and signed into law by President Donald Trump on July 4. 

Plaintiffs argued in their filing that the cuts would cause ‘grave’ health risks to as many as one million patients nationwide. 

They also pointed to possible increases in cancer and in undetected sexually transmitted infections, especially in low-income communities.

Many areas could also see an increase in unplanned pregnancies as a result of the lost contraception access their clinics provide, they noted.

Judge Talwani’s order is expected to apply to the nearly 600 health centers operated across the country by Planned Parenthood. It is almost certain to be appeared by the Trump administration, which could even ask the higher courts to grant it an administrative stay in the interim while lower court battles continue to play out.

The administration has also found success in filing emergency orders to the Supreme Court. As of earlier this month, the high court has ruled in Trump’s favor in the majority of cases filed via the ‘shadow docket’ or via emergency application.

Fox News’s Ashley Oliver contributed to this report. 

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