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Top 10 Tungsten-p​roducing Countries

Tungsten’s importance in a wide range of industrial categories, from smartphones to car batteries, means demand is likely to rise. At the same time, supply chain disruptions and increased production costs are weighing on global supply, making it important to learn about the top global tungsten producers.

Tungsten has many applications. It’s used in electrical wires, as well as in welding, heavy metal alloys, turbine blades and as a lead substitute in bullets. The metal can also be found in heating and electrical contacts.

Tungsten prices have traded upward in recent years, and the industry’s supply and demand dynamics are expected to push the metal higher in 2025 and beyond. Total revenue for the tungsten market is expected to grow at a compound annual growth rate of 8 percent through 2024 to 2032 to reach nearly US$9.49 billion in value.

With that in mind, it’s worth being aware of which countries produce the most tungsten. According to the US Geological Survey, global tungsten production came in at 81,000 metric tons (MT) in 2024, up slightly from 2023’s 79,500 MT. The vast majority of tungsten mining and processing occurs in China. Looking forward to 2025, increased production is seen coming from mines in South Korea and Australia.

Here’s an overview of tungsten production by country in 2024, as per data from the US Geological Survey.

1. China

Tungsten production: 67,000 metric tons
Tungsten reserves: 2.4 million metric tons

In 2024, China produced 67,000 metric tons of tungsten, up by 1,000 MT from 2023. The country is the world’s largest producer of the metal by a wide margin, accounting for more than 80 percent of total annual tungsten output worldwide.

That said, China’s tungsten production has been falling in recent years — the Asian nation has limited the quantity of tungsten-mining and export licenses it awards and has imposed quotas on tungsten concentrate production. The country has also recently increased environmental inspections.

China has been the main source of tungsten imported into the US since 2017, and the country accounted for 27 percent of US tungsten imports in 2024.

In response to US President Donald Trump’s imposition of 10 percent tariffs on imports from China in February 2025, the Government of China immediately announced strict export controls on tungsten and four other key metals used in several important industries, including defense. Tighter tungsten supply out of China may lead to higher prices for the metal despite growing production from ex-China sources.

2. Vietnam

Tungsten production: 3,400 metric tons
Tungsten reserves: 140,000 metric tons

Vietnam’s tungsten production in 2024 came to 3,400 metric tons, down by 100 MT from the previous year. Privately owned Masan Resources runs the Vietnam-based Nui Phao mine, which it says is the largest tungsten-producing mine outside China. It is also one of the lowest-cost producers of tungsten in the world.

In 2024, Vietnam accounted for 8 percent of US tungsten imports.

3. Russia

Tungsten production: 2,000 metric tons
Tungsten reserves: 400,000 metric tons

Russia produced 2,000 metric tons of tungsten in 2024, on par with the last few years. The war between Russia and Ukraine has hampered Russia’s ability to trade and make deliveries of tungsten to the world market as it continues to face sanctions. The Tyrnyauz tungsten-molybdenum mine is the largest tungsten deposit in the country and one of the largest globally.

Russia is a significant supplier of the metal to Europe, but restrictions have increased the continent’s dependency on Chinese imports. At the same time, the war is fueling tungsten demand given the metal’s use in ammunitions.

4. North Korea

Tungsten production: 1,700 metric tons
Tungsten reserves: 29,000 metric tons

In 2024, North Korea produced 1,700 metric tons of tungsten production, up by 100 MT over the previous year. The Mannyŏn mine in North Hwanghae province is the country’s largest tungsten mine. Its name means 10,000 years in reference to its vast reserves.

Tungsten ore is North Korea’s third highest export by value, worth nearly US$26 million in 2023, with the majority being consumed by China. Tungsten’s high spot in North Korea’s export market may be due to the fact that it’s one of the few metals not listed under UN sanctions on the country’s trade.

5. Bolivia

Tungsten production: 1,600 metric tons
Tungsten reserves: Not available

Bolivia’s tungsten production in 2024 was 1,600 metric tons, a gain of 100 MT over the previous year. The South American country has increased its tungsten production since 2014 as a result of moves to promote its tungsten industry. Bolivia accounted for 8 percent of US tungsten imports in 2024.

The Bolivian mining industry is heavily influenced by Comibol, a state-owned mining umbrella company.

6. Rwanda

Tungsten production: 1,200 metric tons
Tungsten reserves: Not available

Rwanda produced 1,200 metric tons of tungsten in 2024, on par with 2023’s output. Tungsten is one of the most common conflict minerals in the world, meaning that at least some of it is produced in war zones and is sold to perpetuate fighting.

While Rwanda has promoted itself as a source of conflict-free minerals, concerns remain about its tungsten output. Nevertheless, it is an important exporter of tungsten, accounting for 31 percent of global tungsten trade in 2022.

One of the largest tungsten producers in Rwanda is privately owned Trilogy Metals, which owns the Nyakabingo tungsten ore mine. Trilogy’s largest shareholder is UK-based private industrial company Techmet, which is working to secure a viable technology metal supply chain.

7. Australia

Tungsten production: 1,000 metric tons
Tungsten reserves: 570,000 metric tons*

In 2024, Australia produced 1,000 metric tons of tungsten. This represents a more than 130 percent jump in output from 2023 levels, taking it from the ninth spot on the previous year’s list to rank seventh in global tungsten production for 2024.

There are several operating tungsten mines in Australia. EQ Resources (ASX:EQR) is an Australian tungsten miner producing the metal at its Mount Carbine asset in North Queensland. On the island state of Tasmania, Group 6 Metals (ASX:G6M) brought the historic Dolphin tungsten mine back into production in 2023. The island also contains private firm Tasmania Mines’ Kara tungsten mine

Tungsten projects under development in Australia include the Molyhil tungsten-molybdenum-copper project located in the Northern Territory. Molyhil is a 75/25 joint venture between Thor Energy (LSE:THR,OTC Pink:THORF) and Investigator Resources (ASX:IVR). According to Mining Database Online (MDO), Investigator is working toward completing a scoping study on Molyhil, based on an updated May 2024 mineral resource estimate, in the first half of 2025.

Another company with Australia-based tungsten projects is Tungsten Mining (ASX:TGN), whose properties include Mount Mulgine, Big Hill and Kilba in Western Australia, as well as Watershed in Northeast Queensland and Hatches Creek in the Northern Territory.

* Joint Ore Reserves Committee-compliant or equivalent reserves were 220,000 metric tons.

8. Austria

Tungsten production: 800 metric tons
Tungsten reserves: 10,000 metric tons

Austria’s tungsten production in 2024 was 800 metric tons, down 50 MT from the previous year. Much of that production can be attributed to Wolfram’s Mittersill mine, which is located in Salzburg and hosts Europe’s largest tungsten deposit.

9. Spain

Tungsten production: 700 metric tons
Tungsten reserves: 66,000 metric tons

Spain produced 700 metric tons of tungsten in 2024, up 50 MT over the previous year.

There are a number of companies engaged in the exploration, development and mining of tungsten assets in Spain. Australia’s EQ Resources, which acquired tungsten producer Saloro in 2023, now controls the Barruecopardo Mining and Processing operation. MDO reports that a program is underway to upgrade the plant and improve recoveries with completion expected by the end of 2025.

As for Spanish tungsten assets under development, Almonty Industries (TSX:AII,OTCQX:ALMTF) owns the permitting-phase Valtreixal tungsten-tin project.

10. Portugal

Tungsten production: 500 metric tons
Tungsten reserves: 3,400 metric tons

In 2024, Portugal produced 500 metric tons in 2024, up by 50 MT from that produced in the previous year.

The European country has the lowest-known tungsten reserves figure out of all the nations on this list, totaling just 3,400 MT. Almonty Industries’ Panasqueira mine is Portugal’s largest tungsten-producing operation. ‘The Panasqueira Mine has some of the highest tungsten recovery rates in the industry, consistently averaging 80 (percent),’ MDO states.

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

This post appeared first on investingnews.com
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Investing

Investing in Gold Royalty and Streaming Stocks

Gold royalty companies offer investors exposure to gold and silver with the benefits of diversification, lower risk and a steady income stream.

Royalty companies operating in the resource sector will typically agree to provide funding for the exploration or development of a resource in exchange for a percentage of revenue from the deposit if it begins producing. Similarly, a company with a streaming model may work out an agreement with a resource company for a share of the metal produced from a deposit in exchange for an investment.

These kinds of arrangements benefit both parties. Streamers get access to the underlying commodity at a fixed price and are shielded from cost overruns and spikes in production. Further, if there is a price decrease the metals can be warehoused until the market conditions improve. In both cases, mining companies receive considerable upfront investment during the expensive construction and expansion phases, and unlike loans these investments have longer-term payouts at a fixed amount.

Let’s take a deeper look at how royalties and streaming works, their benefits and the gold and silver royalty and streaming stocks you can invest in.

In this article

    How do gold and silver royalties work?

    Gold and silver royalty agreements involve royalty companies agreeing to provide funding for the exploration or development of a precious metals resource in exchange for a percentage of revenue from the deposit if it begins producing metals.

    The foundation for royalties dates back a few hundred years. Originally, they were payments made to the British monarchy in exchange for miners’ rights to operate gold and silver mining operations on lands held by the crown. Today, these arrangements still exist, with mining operators paying the government a share of the revenues generated from exploiting resources on public lands.

    The first royalty paid to a company in the gold sector was an agreement in 1986 in which Franco-Nevada (TSX:FNV,NYSE:FNV) made a US$2 million investment into Western States Minerals’ Goldstrike small heap-leach mine in Nevada, US, for a 4 percent share of revenues collected from the mine. Western States was sold the same year to Barrick Gold (TSX:ABX,NYSE:GOLD). Barrick discovered a far larger resource at the site and the royalty has since earned Franco-Nevada more than US$1 billion.

    This early example set a precedent for the industry. It saw Franco-Nevada, which was then a gold exploration company, lock itself into what became one of the largest gold mineral resources in the world at a relatively low overhead while avoiding future costs associated with the growth and maintenance of the mine.

    How do gold and silver streams work?

    Gold and silver streams work in a similar manner to the royalty model but returns are in the form of physical metals rather than funds. In return for investing in an asset, a gold streaming company may work out an agreement with a resource company for a share of the metal produced from a deposit, or for the ability to purchase the metal at a lower price than market value.

    This is also a popular model with base metal mining companies whose operations result in gold and/or silver by-products. In these cases, gold and silver streaming companies may work out a deal with a base metal mining operation to take delivery of a certain amount of precious metals at an agreed upon price.

    The Goldstrike royalty made Franco-Nevada what it is today, but its largest contributing asset in its portfolio is a deal with Lundin Mining (TSX:LUN,OTC Pink:LUNMF) for a stream of the gold and silver resources extracted from its Candelaria copper mine in Chile.

    Under the terms of the deal, which was part of Lundin’s 2014 acquisition of Freeport-McMoRan’s (NYSE:FCX) stake in Candelaria, Franco-Nevada provided a US$648 million deposit in exchange for a 68 percent stream of the asset’s silver and gold. This will lower to 40 percent once 720,000 ounces of gold and 12 million ounces of silver have been delivered, which the company currently predicts will take place in 2027.

    While Franco-Nevada does have to pay for the metal, the agreed upon amount is far under the current market value. At the time, the deal was set at US$400 for each ounce of gold and US$4 per ounce of silver with a 1 percent inflationary adjustment, or market price if that was less.

    Are royalty and streaming companies a good investment?

    Royalty and streaming companies are largely seen as a lower-risk investment than mining companies. Lower operational costs and higher portfolio diversification means they are hedged against a mine shutdown, natural disaster, market forces or the politics that may affect the nature of an operation or project. However, that’s not to say royalty and streaming deals aren’t without their risks.

    In many ways, gold royalty companies are like venture capitalists in the tech industry, working to fund many projects in the hopes that some will see big payoffs that offset the loss from the ones that don’t make it. This means they need large access to funding in order to build their portfolios.

    To get funding, royalty and streaming companies have several options: using cash on hand, raising debt through loans or issuing more shares. Each of these options carries risk. Using cash to pay for investments could reduce the size of the safety net and eat into company liquidity, debt needs to be managed to ensure that payments don’t exceed income and the issuance of stock could lead to an overall devaluation of share price and impact investor sentiment.

    Once companies have developed strong cash flows and good liquidity, they are able to take advantage of their own reserves, without the need to worry about loans or stock dilution. The same cannot be said for the up-and-coming companies who need to rely on external funding to make deals, making them riskier.

    These companies provide a good entry point for investors with lower share price, and have more potential to return higher percentage gains in share price, they also bear more risk. With more reliance on raising external capital, there is a greater need for deals to be successful and a greater chance for a company to incur more debt load or stock dilution.

    Diverse portfolios can help reduce the risk associated with a royalty company, and companies like Franco-Nevada have the industry knowledge and financial capital to take some risks. As of February 2025, the company has 432 assets on their books; 117 are producing, 38 are in the advanced stages of development. It’s the 277 more that are in the exploration phase that represents the greatest risk, many of which will never provide returns.

    Of course, unforeseen events can affect both mining and royalty companies alike, particularly when assets that take up a larger percentage or a portfolio are affected. Franco-Nevada had more than US$1 billion invested in First Quantum’s (TSX:FM,OTC Pink:FQVLF) Cobre Panama mine before it was shuttered by the Panamanian government following protests at the end of 2023. The mine brought in US$223.3 million for Franco-Nevada in 2022 and represented nearly a quarter of its precious metal income. While it fared better than First Quantum, the royalty company’s share price took a significant hit.

    Gold and silver royalty companies

    The biggest companies in the precious metals royalty and streaming space have long histories and have built positive reputations on the backs of strong investments. They offer a means for investors to de-risk an entry into the gold sector by maintaining an arms-length attachment to it.

    The five gold and silver royalty and streaming companies on this list had market caps above $1 billion in their respective currencies as of February 19, 2025.

    1. Wheaton Precious Metals (TSX:WPM,NYSE:WPM)

    Company Profile

    Market cap: C$44.46 billion

    Wheaton Precious Metals was established in 2004 as Silver Wheaton with a focus on silver streaming. Goldcorp held a majority interest, but began to reduce it in 2006 and by 2008 had completely divested itself. By that time, Silver Wheaton had begun to diversify into other precious metals. The following year, Silver Wheaton acquired rival silver streaming stock Silverstone Resources in a C$190 million deal.

    Silver Wheaton changed its name in 2017 to Wheaton Precious Metals and has since built itself into one of the largest players in the gold and silver royalty and streaming space, with investments in 13 operating mines and 26 development projects across four continents.

    2. Franco-Nevada (TSX:FNV,NYSE:FNV)

    Company Profile

    Market cap: C$38.23 billion

    A trailblazer in the gold royalty business, Franco-Nevada has set a high bar. The current iteration of the company was spun out of Newmont (TSX:NGT,NYSE:NEM) in what became a C$1.1 billion initial public offering, one of the biggest IPOs of 2007.

    Franco-Nevada now has a portfolio of more than 100 producing assets around the world with investments in gold, silver, base metal and oil and gas operations, which generate more than US$1.2 billion for the company annually. See the sections above for more information on Franco-Nevada’s royalty and streaming deals.

    3. Royal Gold (NASDAQ:RGLD)

    Company Profile

    Market cap: US$9.82 billion

    Royal Gold got its start in 1981 as oil and gas exploration and production company Royal Resources Corporation. Responding to shifts in the overall resource market, by 1987, Royal Gold was born with a focus on building a portfolio of minority positions in significant gold properties operated by major mining firms.

    Today, Royal Gold is a leading precious metals streaming and royalty company with interest in 175 properties, of which 42 are producing assets, across 17 countries. One of the most significant principal assets for this gold royalty stock is the Cortez gold mine in Nevada owned by Barrick and Newmont.

    4. Osisko Gold Royalties (TSX:OR,NYSE:OR)

    Company Profile

    Market cap: C$5.1 billion

    Osisko Gold Royalties was created in 2014 as a spinoff deal between Osisko Mining (TSX:OSK), Yamana Gold and Agnico Eagle Mines (TSX:AEM,NYSE:AEM). The deal was made in an attempt to prevent a hostile takeover of Osisko Mining and its Canadian Malartic gold complex by Goldcorp.

    In the deal, Osisko Gold Royalties carried with it a 5 percent net smelter return royalty from the Canadian Malartic mine. Now owned by Agnico Eagle, the complex in Québec remains a cornerstone of Osisko’s business today.

    The gold and silver royalty and streaming company has gone on to acquire 185 assets, 23 of which are producing, across 6 continents with a majority in North America.

    5. Sandstorm Gold (TSX:SSL,NYSE:SAND)

    Company Profile

    Market cap: C$2.5 billion

    Sandstorm Gold Royalties was founded in 2008 as a small-startup and has since become a multi-billion dollar gold and silver royalty and streaming company. Its producing assets include Pan American Silver’s (NYSE:PAAS,TSX:PAAS) Ceo Moro gold-silver mine, and Cerrado Gold’s (TSX:CERT,OTCQX:CRDOF) Las Calandrias gold-silver mine, both in Argentina.

    Sandstorm’s royalty portfolio boasts more than 230 assets, of which 41 are producing assets, located across more than a dozen countries.

    Small-cap gold and silver royalty companies

    There are also small-cap gold and silver royalty and streaming companies you can invest in and offer a lower-cost option for investors who are comfortable with a little more risk. Like their larger counterparts, small-cap gold royalty stocks offer a lower-risk investment than getting into a small-cap mining company but still provide access to the underlying precious metals market.

    The five small-cap gold and silver royalty companies on this list had market caps above $10 million in their respective currencies as of February 19, 2025.

    1. Metalla Royalty & Streaming (TSXV:MTA)

    Company Profile

    Market cap: C$408.08 million

    Metalla Royalty & Streaming focuses on gold, silver and copper projects. The company’s royalty model involves acquiring royalties and streams by offering resource companies Metalla shares and cash.

    The mid-tier royalty and streaming company’s asset portfolio includes more than 100 projects across North America, South America and Australia. Its cornerstone assets include IAMGOLD (TSX:IMG,NYSE:IAG) and Sumitomo Metal Mining’s (TSE:5713) Côté gold mine in Ontario, Canada.

    2. Gold Royalty (NYSEAMERICAN:GROY)

    Company Profile

    Market cap: US$242.12 million

    Gold Royalty is building a diversified portfolio of more than 200 gold royalty and gold streaming interests based on net smelter return royalties on properties in the Americas.

    The company’s revenue generating investments includes one of the most well-known gold-producing mines in the world, Agnico Eagle’s Canadian Malartic complex in Québec.

    3. Sailfish Royalty (TSXV:FISH,OTCQX:SROYF)

    Company Profile

    Market cap: C$112.44 million

    Founded in 2014, Sailfish Royalty’s asset portfolio is much smaller than the other gold royalty stocks on this list. It consists of one producing mine as well as two development-stage and two exploration-stage properties in the Americas.

    In Nicaragua, Sailfish has a gold stream equivalent to a 3 percent net smelter return on Mako Mining’s (TSXV:MKO,OTCQX:MAKOF) San Albino gold mine and a 2 percent net smelter return on the area surrounding the mine. The company also holds a 13,500 ounce per month silver stream at the property, which will run until May 2025 with the option to extend.

    4. Empress Royalty (TSXV:EMPR,OTCQX:EMPYF)

    Company Profile

    Market cap: C$41.96 million

    Empress Royalty’s business model involves investing in mining companies in various stages of exploration through production who need further non-dilutive capital to fund their projects and operations.

    Empress’ gold and silver royalty and streaming portfolio includes four producing assets, with two in the Americas and two in Africa: the privately owned Sierra Antapite gold mine in Peru, Luca Mining’s (TSXV:LUCA,OTCQX:LUCMF) Tahuehueto silver mine in Mexico, the privately owned Manica gold project in Mozambique and Golconda Gold’s (TSXV:GG,OTCQB:GGGOF) Galaxy gold mine in South Africa.

    5. Silver Crown Royalties (NEO:SCRI,OTCQX:SLCRF)

    Company Profile

    Market cap: C$16.1 million

    Silver Crown Royalties is a revenue-generating silver-only royalty company focusing on silver as by-product credits. The company targets royalty originations on producing or near-producing assets in tier 1 jurisdictions.

    Silver Crown has two producing assets in its portfolio: Gold Mountain Mining’s (TSX:GMTN) Elk gold project in British Columbia, Canada, and private Canadian company Pilar Gold’s PGDM mine in Brazil.

    Gold and silver royalty ETFs

    Those who want more broad exposure to the precious metals markets may want to buy shares of an exchange-traded fund that includes gold and silver royalty and streaming stocks. Here are a few to get you started.

    Betashares Global Royalties ETF (ASX:ROYL)
    Betashares Global Royalties ETF is an Australian ETF that tracks the performance of an index of global companies that earn a significant amount of their revenue from royalty income, royalty-related income and intellectual property income. The fund’s top holdings include Wheaton Precious Metals, Franco-Nevada and Royal Gold.

    Betashares Global Gold Miners ETF (ASX:MNRS)
    Betashares Global Gold Miners ETF tracks the performance of an index of the world’s largest gold mining companies outside of Australia, hedged into Australian dollars. Wheaton Precious Metals, Franco-Nevada and Royal Gold are also among the fund’s top holdings.

    VanEck Gold Miners ETF (ARCA:GDX)
    VanEck Gold Miners ETF is a US gold ETF that aims to replicate the performance of the NYSE Arca Gold Miners Index by holding large-cap gold mining stocks and precious metals royalty companies. As with the other gold ETFs on this list, its top holdings include Wheaton Precious Metals, Franco-Nevada and Royal Gold.

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

    This post appeared first on investingnews.com
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    But at least two House Republicans have said they oppose the legislation – and the GOP’s razor-thin margins mean Speaker Mike Johnson, R-La., can only afford one defector to still pass anything along party lines, if all Democratic lawmakers are present.

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    This post appeared first on FOX NEWS
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    The White House also provided five examples on Saturday afternoon on its Rapid Response X account.  

    ‘Just got this email. Where do we begin?’ the White House’s Rapid Response X account posted Saturday evening, accompanied by a screenshot of the OPM email informing employees to comply with the accomplishment directive. 

    The White House listed: Trump signing an executive order expanding access to in vitro fertilization treatments, another executive order that works to ​​stop taxpayer benefits landing in the hands of illegal immigrants, Border Patrol Chief Mike Banks reporting Trump’s policies have led to a 94% drop in illegal border crossings, Apple announcing a $500 billion investment in U.S., and the Trump admin working to ensure ‘Maine does not allow men in girls’ locker rooms and sports’ through an investigation of the state’s Department of Education. 

    Veterans Affairs Secretary Doug Collins posted his list of five accomplishments at Veterans Affairs, including identifying and eliminating ‘wasteful contracts.’ 

    Ahead of Musk’s announcement informing federal workers list their accomplishments, other agencies posted their wins for the first month in office, including Collins posting a Friday video of the department’s accomplishments for the first month on the job, while the Department of Defense launched a rapid response account on X to celebrate accomplishments while also ‘Fighting Against Fake News.’

    A handful of federal departments that deal with sensitive and classified information told their staffers to ignore the order to list their accomplishments, which President Donald Trump said on Monday was a ‘friendly’ rejection due to the sensitive materials some government employees handle on a regular basis. 

    ‘That was done in a friendly manner,’ Trump said Monday while speaking with the media alongside French President Emmanuel Macron. ‘Only things such as, perhaps Marco at State Department, where they have very confidential things. Or the FBI, where they’re working on confidential things. And they don’t mean that in any way combatively with Elon. They’re just saying there are some people that you don’t want to really have them tell you what they’re working on last week.’

    FBI Director Kash Patel, the Department of Defense and the Department of Homeland Security were among the agencies and departments that informed staff to not respond to the email. 

    ‘FBI personnel may have received an email from OPM requesting information,’ Patel told employees in an email over the weekend. ‘The FBI, through the Office of the Director, is in charge of all of our review processes, and will conduct reviews in accordance with FBI procedures. When and if further information is required, we will coordinate the responses. For now, please pause any responses.’

    Trump lauded the directive Monday, arguing that it will expose government employees who aren’t actually carrying out tasks. 

    ‘There was a lot of genius in sending it,’ Trump said Monday from the White House. ‘We’re trying to find out if people are working. And so we’re sending a letter to people. Please tell us what you did last week. If people don’t respond, it’s very possible that there is no such person or they’re not working.’ 

    Some unions and Democratic lawmakers have lambasted the directive, including Illinois Rep. Sean Casten calling on federal employees to flout the order, arguing it is a ‘a good opportunity for mass civil disobedience.’ 

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    ‘If you don’t answer … you’re fired’: Trump stands behind Musk’s DOGE productivity email

    President Donald Trump warned that federal employees who don’t follow new guidance requiring them to report personal productivity could lose their jobs. 

    The effort stems from an email that SpaceX and Tesla CEO Elon Musk spearheaded that asked federal workers to send an email Monday detailing a summary of what tasks they accomplished the previous week. Musk is heading up the newly created Department of Government Efficiency (DOGE) that aims to reduce government waste and fraud. 

    ‘I thought it was great,’ Trump told reporters of the initiative Monday at the White House, ‘because we have people who don’t show up to work and nobody even knows if they work for the government. So by asking the question, ‘Tell us what you did this week,’ what [Musk is] doing is saying, ‘Are you actually working?’ If you don’t answer, you’re sort of semi-fired, or you’re fired, because a lot of people are not answering because they don’t even exist.’

     

    Musk unveiled the email in a post on X on Saturday and cautioned that a failure to reply was equivalent to handing in a resignation.

    ‘Consistent with President @realDonaldTrump’s instructions, all federal employees will shortly receive an email requesting to understand what they got done last week,’ Musk wrote on X. ‘Failure to respond will be taken as a resignation.’

    Federal employees received an email from the Office of Personnel and Management on Saturday that instructed them to provide a list of five things they accomplished the previous week by a deadline of 11:59 p.m. Monday. 

    The American Federation of Government Employees, a labor union for federal workers, criticized the policy and said Trump and his administration have once again demonstrated ‘utter disdain’ for federal employees. 

    ‘It is cruel and disrespectful for federal employees to be forced to justify their job duties to this out-of-touch, privileged, unelected billionaire who has never performed one single hour of honest public service in his life,’ American Federation of Government Employees National President Everett Kelley said in a Saturday statement.

    The federation ‘will challenge any unlawful terminations of our members and federal employees across the country,’ Kelley said.

    Meanwhile, multiple agencies have issued instructions telling their employees to disregard Musk’s guidance.

    For example, the Department of Defense issued a letter to its civilian personnel asserting the Pentagon’s autonomy on Sunday and directing employees to ignore Musk’s request to send details of their work week to the Office of Personnel Management.

    ‘DoD personnel may have received an email from OPM requesting information,’ wrote Darin Selnick, who is performing the duties of the undersecretary of defense for personnel and readiness. ‘The Department of Defense is responsible for reviewing the performance of its personnel and it will conduct any review in accordance with its own procedures.

    ‘When and if required, the Department will coordinate responses to the email you have received from OPM,’ he wrote. ‘For now, please pause any response to the OPM email titled, ‘What did you do last week.”

    FBI Director Kash Patel issued a similar directive to his staff and said the agency ‘will conduct reviews in accordance with FBI procedures,’ according to the Associated Press.

    DOGE, which is tasked with weeding out government overspending, is facing multiple lawsuits from government employees seeking to challenge Musk’s efforts to audit various federal agencies.

    Fox News’ Greg Wehner, Jennifer Griffin and Stephen Sorace contributed to this report.

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    Top federal agency takes DOGE’s mission to heart with all-hands memo to every employee: ‘Reduction in force’

    As the Trump administration’s DOGE efforts continue to have an impact across government agencies, over 12,000 employees at the General Services Administration are being notified in an agency-wide email Monday evening that a ‘reduction in force’ is underway.

    In the memo from acting GSA administrator Stephen Ehikian, according to a draft obtained by Fox News Digital, the agency thanked those employees who decided to be part of the ‘first step’ of staff reduction on Friday by resigning from GSA and previewed the ‘next step of this process in support of the Presidential Executive Order: Implementing The President’s Department of Government Efficiency Workforce Optimization Initiative, The White House, dated February 11, 2025.’

    ‘This serves as notice that the agency will be conducting a Reduction in Force (RIF) and is seeking approval from Office of Personnel Management (OPM) to also obtain a Voluntary Early Retirement Authority (VERA),’ the email states. ‘More information to impacted business units and employees will be forthcoming.’

    The letter ends by thanking the employees that will be affected for their ‘service to this nation.’

    ‘I promise you that GSA will continue to do everything in our power to make your departure fair and dignified,’ the letter concludes. 

    Fox News Digital was told by a source familiar with the situation that 30-40 employees will be affected by the reduction at first, as the agency starts with a focused number meant to ensure the plan is executed well with minimal mistakes.  

    The GSA, which performs a variety of tasks including managing federal real estate and procuring goods and services, is headquartered in Washington, D.C., and has 11 regional offices. 

    A GSA senior manager familiar with the process told Fox News Digital that the first actions will be targeted on select offices rather than the entire agency and that bargaining unit employees are not anticipated to be affected. 

    Additionally, the agency is looking for an additional Voluntary Early Retirement Authority, as outlined by the OPM, and will be offering severance or discontinued services annuities as appropriate. 

    ‘GSA realizes that a Reduction in Force, while necessary to meet the administration’s mandate to rightsize the federal government, reduce waste and redundancies, and deliver a more cost-effective service to the taxpayer, will impact our workforce,’ a GSA spokesperson told Fox News Digital. 

    ‘GSA is committed to treating all of our employees respectfully and fairly, in accordance with all applicable laws and bargaining unit agreements, during this process.’

    The executive order from earlier this month cited in the memo stated that it was intended ‘to restore accountability to the American public’ and ‘commences a critical transformation of the Federal bureaucracy.’

    ‘By eliminating waste, bloat, and insularity, my Administration will empower American families, workers, taxpayers, and our system of Government itself,’ the executive order states.

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    ‘Overwhelmingly popular’: Elon Musk touts Americans’ DOGE support

    Elon Musk is taking his Department of Government Efficiency (DOGE) for a victory lap, touting a new poll that suggests massive support for the Trump administration initiative.

    The Harvard CAPS-Harris poll revealed a majority of Americans support reducing wasteful government spending. Most voters agree there should be a government agency dedicated to efficiency and that DOGE is helping to make major spending cuts, the nonprobability-based poll found. 

    ‘Polls show that @DOGE is overwhelmingly POPULAR and that government spending should be reduced by at least $1 trillion!!’ Musk wrote on X. 

    The White House and Musk have shared the results on social media, pointing to the new polling as evidence that ‘reducing government waste & fraud is strongly supported by the people,’ as Musk wrote in an X post. 

    President Donald Trump shared the favorable poll on his Truth Social account, and Musk shared a screenshot of Trump’s post on his X account. 

    The Harvard CAPS-Harris poll found a majority of voters believe the government’s debt is unsustainable and that the government should try to cut expenses. A vast majority agreed ‘government expenditures are filled with waste and agree with cutting $1 trillion in expenses.’

    Most people polled said DOGE employees should not have access to Americans’ sensitive information and that court challenges to DOGE are based on the law and are not politically motivated.

    Recent national polling suggests Musk and DOGE have garnered the support of Republicans and the disapproval of Democrats.

    The Feb. 13-19 Washington Post-Ipsos poll was less favorable for Musk and his ‘DOGE boys’ as approval split along ideological lines, with 70% of Republicans and 6% of Democrats approving of Musk’s job. Fewer Republicans, at 56%, approved of Musk halting federal government programs.

    Further, 55% of voters said Musk has too much power, according to the Quinnipiac University poll released Feb. 19. Once again, the results fall upon party lines, with 78% of Republicans polled saying Musk has the right amount of power and 96% of Democrats saying he has too much power. 

    The AP-NORC poll released Jan. 24 also found Republicans are more likely to favor DOGE than Democrats. However, the poll found the majority of the public ‘believe corruption, inefficiency and red tape are major problems in the federal government,’ which is consistent with the new Harvard CAPS-Harris poll.

    A CNN poll conducted by SSRS found that 54% of voters said Musk’s prominent role in Trump’s administration is a ‘bad thing.’

    Musk’s posts celebrating his new favorable polling come on the heels of his latest DOGE initiative: Federal employees received an email on Saturday instructing them to respond with ‘what they got done last week’ or lose their job.

    ‘Consistent with President @realDonaldTrump’s instructions, all federal employees will shortly receive an email requesting to understand what they got done last week. Failure to respond will be taken as a resignation,’ Musk said.

    ‘To be clear, the bar is very low here. An email with some bullet points that make any sense at all is acceptable! Should take less than 5 mins to write,’ Musk added. 

    Darin Selnick of the Department of Defense and Kash Patel of the FBI told their employees they did not need to comply with Musk’s request. Transportation Secretary Sean Duffy followed the assignment, submitting his accomplishments in a post.

    ‘Mr. President, 5 things I did last week… Looking forward to another week of fighting for Americans,’ Duffy wrote. 

    Trump, in a Truth Social post ahead of Musk’s new email directive, said the DOGE leader is ‘doing a great job,’ adding he would ‘like to see him get more aggressive.’

    DOGE’s jarring revelations about where American taxpayer dollars are going have dominated headlines during Trump’s first month back in the White House. Republicans have embraced Musk’s commitment to government efficiency as many new Cabinet members and Republican governors establish their own DOGE departments. 

    Meanwhile, Musk’s massive layoffs of government employees and department cuts have created outrage among Democrats in Washington. Democrats have led weekly protests against DOGE and Musk’s political power, calling Trump’s executive actions a ‘constitutional crisis.’

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    Jindalee Realises $2.75M from Sale of Non-Core Asset

    Jindalee Lithium Limited (Jindalee, the Company; ASX: JLL, OTCQX: JNDAF) advises that the Company has sold its shareholding in Dynamic Metals (ASX: DYM, Dynamic), raising $2.75M before costs.

    Dynamic was formerly a Jindalee subsidiary which held Jindalee’s Australian exploration assets. Dynamic was spun out of the Company in January 2023 following a $7M IPO which included a priority entitlement to Jindalee shareholders1, leaving Jindalee as a pure play US lithium company focussed on the 100% owned McDermitt Project (McDermitt), one of the largest lithium deposits in the US and of global significance.

    In mid-November 2024 Jindalee announced the results of a Pre-Feasibility Study (PFS) on McDermitt2. The PFS confirmed a 63 year life with the Project producing 1.8Mt Lithium Carbonate at C1 costs of US$8,670/t for the first 40 years and a 5 year payback. The PFS also noted excellent potential to reduce capital and operating costs as well as increase production at McDermitt.

    Priority activities following completion of the PFS include engagement with potential funding partners and US Government agencies, together with investigation of opportunities to improve Project economics, permitting and community engagement. The proceeds from the Dynamic sale will enable these activities to be accelerated.

    Jindalee’s CEO Ian Rodger commented‘This transaction is firmly aligned with our strategy of advancing McDermitt while preserving shareholder value. At a time when many lithium companies are struggling to raise capital, Jindalee’s ability to unlock funding from a non-core asset enables us to accelerate project development in a less dilutive way. History shows that projects advanced during downturns are best positioned to capture the upswing, and with lithium prices at unsustainable levels, a supply crunch is inevitable. This funding provides us the runway to progress key catalysts—including engagement with potential funding partners and US government agencies, project optimisation, and advancing permitting and community engagement. As one of the most advanced sedimentary lithium projects in the US, McDermitt is strategically positioned to benefit from the policy priorities of the new administration as the US moves to secure domestic supply of critical minerals.’

    Click here for the full ASX Release

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