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For weeks, an unpleasant dream haunted Md (short for Mohammed) Atik Ullah Khan. In his sleep, he heard machine guns and saw himself stuck in a fierce fight between a group of pirates and navy commandos. He woke up sweating.

“I was running and running… trying to go to a safe place, but I could not,” Khan recalls of the recurring nightmare.

Khan, 39, was the chief officer of Bangladesh-flagged merchant vessel Abdullah when it was hijacked on March 12, 2024, roughly 550 nautical miles off the coast of Somalia.

The MV Abdullah was sailing from Mozambique to the United Arab Emirates with 55,000 tons of coal. Around 10 a.m. local time, an unidentified fishing boat appeared on the radar. Soon watchmen spotted six people with automatic rifles heading towards them in a speed boat. Six more followed in another vessel.

Ship crew put out a mayday call. “But nobody responded,” Khan said.

“Then I called the engine room and told them to cancel all speed limits and throttle to the maximum. But our speed was nothing compared to the pirates’ speedboat,” he added.

Minutes later, 12 pirates came onboard, fired rounds, took control of the ship and held its crew hostage.

After almost a decade of hibernation, Somali pirates have resurfaced. Their reemergence follows the Yemeni Houthi movement’s campaign to target Red Sea shipping in support of Hamas in its war with Israel. Analysts believe the Red Sea crisis has drawn the attention of counter-piracy naval resources deployed in the region and acted as a distraction, allowing the pirates to stage a comeback.

A report published in November by Lloyd’s List, a maritime industry journal, citing information provided by Seahawk Maritime Intelligence, warned that expanding ties between Somali pirates, Houthis and other regional actors could critically disrupt maritime commerce along vital Red Sea and Indian Ocean shipping lanes.

In December 2023, a month after the Iran-backed Houthi rebels started striking merchant ships, Somali pirates hijacked MV Ruen, a Maltese-flagged cargo ship from the Indian Ocean. That was the first successful hijacking of a merchant ship since 2017.

From January 1 to September 30, 2024, three vessels were hijacked, two were boarded and fired upon, and three reported attempted attacks in the waters off Somalia, according to the International Maritime Bureau.

Compared to the previous phases of Somali piracy, the current threat is moderate, with piracy attacks assessed as being a “realistic possibility,” according to a December 2024 report from the EU Naval Force Maritime Security Centre.

At their peak in 2011, piracy incidents off the coast of Somalia reached a record high of 237, costing the global economy $7 billion that year, according to one report. More than 3,863 seafarers were fired upon with assault rifles and rocket-propelled grenades in those 12 months.

Nonetheless, the recent rise in piracy attacks has added another layer of complexity to global maritime commerce, which is already grappling with the strategic shocks of the Red Sea crisis.

“We are potentially at a critical point where any further disruption will be very tangible to consumers all over the world. That is the critical concern,” said Ian Ralby, a senior fellow at the US-based Center for Maritime Strategy think tank.

JP Morgan Research calculated in February 2024 that the crisis had led to a near fivefold surge in shipping costs from Asia to Europe, with implications for the prices of imported goods – from clothes and electronics to gas and food grains.

To avoid the Houthi strikes, merchant ships have detoured around the Cape of Good Hope, incurring an estimated additional $1 million cost per vessel through increased fuel, insurance, and operational costs.

The Houthi attacks led to a 50% drop in trade in the first two months of 2024 compared to a year earlier through the Suez Canal, the shortest maritime route between Asia and Europe, the International Monetary Fund said in a March 2024 report. The longer route also resulted in a delay of 10 days on average to the shipment delivery times, hurting businesses with limited inventories, the report said.

A fishing community’s anger gave birth to Somali piracy

Going back to the 1990s, the agony of the local fishing community over unregulated commercial trawling was a catalyst for the rise of piracy. Many experts say that it started as an armed uprising of local fishermen against the aggressive presence of foreign trawlers in Somalia’s territorial waters, which was depriving the community of its traditional livelihood.

Somalia’s marine waters, rich with fisheries of species such as yellowfin tuna, blue marlin, swordfish and sardines, have historically helped the country’s fishing communities thrive.

But in the absence of stable governance and effective regulations since the 1991 civil war, foreign fishing trawlers have deployed ruinous techniques to exploit the rich fishing environment.

“(They) use big machines which destroy the hills where fish hide in the sea,” said Merem Mohammed Amber Khamis.

Khamis, 35, is a fisherman from Eyl, an ancient port town reputed to be the birthplace of piracy in Somalia. He earns $90 every two weeks to feed a family of 14.

Khamis said he joined a pirate group in around 2003. That year, foreign industrial fishing reported a catch of 337.2 million metric tons of fish from Somali waters, while 32.4 million metric tons were caught by local fishermen, according to a report published in the World Affairs journal in 2017.

For two years, he worked as a foot soldier when needed, Khamis said, transporting fuel and weekly rations to hijacked ships for a daily rate of between $200 and $400.

“I came to my family, and there was no food on the table,” he said. “The only option which was available was to do this activity.”

At that time, with commercial fishing encroaching on their traditional livelihoods, most people in his town decided to take up piracy, Khamis asserted.

In its initial phase, between 1990 and 2005, pirate attacks were sporadic and contained mostly in the Gulf of Aden. After 2005, criminal entities emerged on the scene and attacks gradually became more organized and frequent, expanding to Somalia’s eastern coast.

The next shift, in both the number and geographical range of piracy incidents, came around 2007, when those involved began commandeering larger boats for use in storming commercial carriers hundreds of nautical miles from the Somali coast.

“It is very difficult to justify that and multi-million dollar payouts by virtue of illegal fishing,” he added.

Khamis observes that piracy has evolved with the participation of wealthy people from Somalia’s cities, often with political power, coming in and replacing the smaller ragtag groups. He believes they mobilize traditional fishing communities to fulfil their ambitions.

Today, Somali pirates operate a strong network comprised of people working in defined roles; those who gather intelligence on potential targets, foot soldiers who take part in attacks, skilled mariners responsible for controlling hijacked ships – from large commercial vessels to fishing boats – and financiers who bear the cost of operations, according to Troels Burchall Henningsen, an assistant professor at the Royal Danish Defence College.

‘One day, we will go home’

Khan recalls how he spoke to his wife on the morning of the pirates’ attack. He mentioned that the region he was crossing through was infamous for piracy. “My wife got scared,” he said. He shared a picture of the guide map that confirmed the ship was voyaging miles away from the area demarcated as the most risk-prone. Khan did not want her to get anxious as she was five months pregnant.

Md Atik Ullah Khan during a navigational watch in 2017. Keeping an eye on passing traffic is key to managing potential threats.

When the attack happened, the 23 crew members were still in disbelief. Their vessel had been on a busy shipping route since leaving Mozambique; they thought they were safe, Khan said.

Despite the MV Abdullah transiting through a region renowned for having some of the world’s deadliest pirate groups, there were no armed guards present on board at the time of the attack. The ship’s crew was told that armed guards were not required as their travel path did not fall within the demarcated High Risk Area (HRA), Khan said.

Footage from the attack reveals that MV Abdullah lacked physical barriers, such as barbed wire fencing and water cannons – provisions recommended in Best Management Practices 5 (BMP5), a guidance manual provided by international maritime trade organizations for merchant ships to help deter piracy in the Red Sea, Gulf of Aden, Indian Ocean and Arabian Sea.

After taking control, the pirates took the ship closer to the coast. Once anchored, about 60 pirates stormed in and set up – with their weapons – across all the areas of the ship. They also brought an interpreter on board to communicate with the Bengali- and English-speaking crew.

Used gun shells found onboard MV Abdullah (left). A pirate rests next to his gun while holding the crew hostage (right).

The hostages were forced to confine themselves to the bridge, Khan said – the 160 square meters (roughly 1,700 square feet) command deck of the ship, where they also had to sleep.

They had little drinking water and hygiene levels dropped dramatically when the additional 60 pirates boarded. Khan developed a severe skin infection from sharing the bathroom, and he could only wash himself once a week.

The fungal infection spread to three of the crew members within days. Khan had to quarantine himself to save the rest from contamination.

In daylight hours, pirate watchmen worked in shifts during which they would oil, service and test-fire their guns. The most capable of them were reserved for duty during the hours of darkness. At night, they would turn all the lights on, chew stimulant khat leaves and remain prepared for military operations.

The pirates seemed keen to know if the hijacking was making any headlines. They monitored news channels and showed the hostages how their families were suffering on TV.

Meanwhile, Khan and his colleagues did not have much to do. They could only leave the bridge for short periods to conduct routine maintenance work. They mostly spent their time playing cards and board games.

But after a while, they got bored of the games too. Tensions ran high among them and some developed acute anxiety, Khan said.

They all kept thinking about their families. Since the pirates had seized their phones, those few who had managed to hide secondary phones did not dare to use them in the open.

Khan often daydreamed, he recalls, telling himself: “One day, we will have a beautiful day, and we will go home.”

A land-based problem with maritime symptoms

From 2012, the number of Somali piracy attacks declined sharply as counter-piracy measures – a greater international naval presence; legislation to prosecute suspected pirates within the region; ships carrying armed guards and best management practices – proved effective, experts say.

Since piracy was no longer as lucrative as before, the enterprise metamorphosed into “generic criminal networks that are specialized in maritime activities,” said Burchall Henningsen, of the Royal Danish Defence College.

The pirates turned their attention to the illicit trade of drugs, weapons and human trafficking, he said.

Over the years, the international response to Somali piracy has predominantly been centered on addressing offshore dynamics. “There has not been much about the onshore dynamics, that are dismantling the criminal networks,” said Omar Mahmood, senior analyst at the International Crisis Group, an NGO working towards mitigating deadly conflicts. “And also addressing local concerns and livelihoods.”

“The root causes of piracy were never addressed,” said Raj Mohabeer, officer in charge at the General Secretariat of the Indian Ocean Commission – an inter-governmental organization of the South-West Indian Ocean island states. Pirates kept the millions of dollars they gained from ransoms and illegal trades, he said, and all but Mohamed Abdi Afweyne, the kingpin who was released from prison in January 2025, remained beyond the reach of prosecution. “And you know that the piracy, its main driver is funds,” he added.

In late 2023, Houthi attacks in the Red Sea destroyed the equilibrium that was achieved by the counter-piracy measures of the previous decade and made piracy a remunerative choice again.

Since the beginning of the Israel-Hamas war, Houthi rebels have attacked navy and commercial ships transiting through the Red Sea. Between November 2023 and October 2024, they launched nearly 190 strikes. These lethal attacks using advanced weaponry prompted global powers to move their intelligence assets and warships from the Indian Ocean region to the Red Sea, Burchall Henningsen said.

Analysts believe the redistribution made the merchant ships that were detouring around the Cape of Good Hope vulnerable to piracy in the western Indian Ocean.

But that is not the only factor in the current resurgence.

Maritime trade organizations removed the Indian Ocean High Risk Area (HRA) in January 2023, citing the “significantly improved piracy situation in the region.”

The removal of the HRA from the Somali basin increased confidence among shipping companies and seafarers. Commercial ships operating in the area stopped using armed guards and frequently ignored protective practices, said former UN Military Observer Lars H. Bergqvist.

The UN Security Council’s decision in 2022 not to extend a resolution allowing international navies to neutralize piracy threats in Somalia’s territorial waters – on the basis that such operations exacerbated regional instability – has also been a factor, experts say.

Today, there is a concern over the growing capabilities of Somali pirates based on their purported alliance with regional actors like the Al Qaeda-affiliated al-Shabaab militant group and the Houthi rebels.

Gulel Ahmed, an expert on terrorist financing, said the pirates’ association with al-Shabaab was known earlier, but now the alleged partnership with the Houthis has made them “more lethal than before.”

The Houthis rely on pirates for smuggling oil and weapons, Ahmed said. They also share intelligence on ships heading towards the Red Sea through the Gulf of Aden, he added.

The UN Panel of Experts on Yemen documented an increase in weapons smuggling involving Somalia’s al-Shabaab and Yemen’s Houthis in its October 2024 report.

According to a Lloyd’s List report citing Seahawk Maritime Intelligence, “This strategic alliance allows the Houthis to exert control over shipping routes while financing their operations through illicit piracy proceeds and arms smuggling.”

Fires aboard oil tanker Sounion emit fumes after repeated Houthi attacks in the Red Sea in August 2024.

Ahmed is monitoring the new Trump administration’s policy decisions. He anticipates that an aggressive US response this time may disrupt the alliance.

The Houthis have promised to stop their attacks on cargo ships in the Red Sea, and on Israel, so long as the fragile ceasefire deal between Israel and Hamas is maintained. However, they reiterated that aggressions from the US, UK, or Israel could lead to escalations. On January 22, they freed the crew of a cargo ship hijacked more than a year ago.

In his first week in office, President Donald Trump re-designated the Houthis as a “Foreign Terrorist Organization” (FTO), days after outgoing President Joe Biden designated them a “Specially Designated Global Terrorist” (SDGT) entity. The Biden administration had previously delisted the Houthis as a FTO in February 2021, citing the need to enable humanitarian aid to Yemen.

Trump’s move triggered speculation as to how it might impact regional stability.

On the morning of their release last April, Khan sensed a charged environment on the MV Abdullah. He saw pirates dressing and packing their belongings.

After their release, crew members of MV Abdullah pose for a picture with the Operation Atalanta marines in April 2024.

After 32 days in captivity, Khan returned home to Bangladesh. Months later, he remains reluctant to go back to sea but is afraid he will end up returning, as there are few opportunities for him on land.

Whilst the return of Somali piracy has posed a threat to global maritime commerce, it has affected seamen engaged in regional shipping disproportionately. They operate in a low-profit environment, which makes the owners of those ships unwilling or unable to afford armed guards onboard, said Burchall Henningsen.

“When it comes to actual attacks, the seafarers and their families have to bear the consequences,” said Khan.

The wages are not worth the personal risk, he continued. “My daughters say they don’t want toys, but me.”

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Hamas is in the process of releasing six Israeli hostages in Gaza – the final living captives whom the warring sides agreed would be released when a ceasefire began last month.

The first two were released in the southern Gaza city of Rafah Saturday morning. They were Tal Shoham, 40, who was kidnapped from kibbutz Be’eri on October 7, 2023, and Avera Mengistu, 38, an Israeli from Ashkelon who crossed into Gaza in 2014.

Shoham was one of four of the six set for release who were kidnapped by Hamas-led militants on October 7. Eliya Cohen, 27, Omer Shem Tov, 22, and Omer Wenkert, 23, were all taken from the Nova music festival, and Shoham was taken from the kibbutz along with his two children, wife, and mother-in-law, all of whom were released in November 2023.

The other hostage to be released Saturday, Hisham al-Sayed, 37, an Arab-Israeli from a Bedouin community in southern Israel, walked into Gaza in 2015. Both he and Mengistu reportedly have serious mental health conditions.

Hamas on Friday said that it expects Israel to release 602 Palestinian prisoners and detainees in exchange. Of those, 50 had been sentenced to life imprisonment and another 60 are serving long sentences, while 445 were detained in Gaza since October 7, 2023, and held without charge.

The six to be released on Saturday are the last living hostages whom Israel and Hamas agreed to exchange when indirect talks in Qatar last month culminated in a ceasefire agreement.

Just before being handed over to the Red Cross in Rafah, Shoham and Mengistu were paraded on stage, flanked by armed and masked militants. They were handed documents, and Shoham was forced to address the crowd.

The remains of another hostage, Shiri Bibas, arrived in Tel Aviv on Friday night.

Bibas’ remains had been expected to be among those of four hostages returned by Hamas on Thursday, alongside her sons, Kfir and Ariel, and another captive, Oded Lifshitz.

However, while forensic tests by Israeli authorities confirmed that the remains included those of the two boys and Lifshitz, the fourth body was not that of Shiri Bibas – and nor did it match that of any other Israeli hostage, prompting outrage and condemnation.

A convoy carrying Bibas’ remains, which Hamas had turned over to the Red Cross, arrived in Tel Aviv on Friday night.

“Last night, our Shiri was brought home. After the identification process at the Institute for Forensic Medicine, we received the news this morning that we had feared: our Shiri was murdered in captivity,” said a statement from her family provided by the Hostages and Missing Families Forum on Saturday.

After Saturday’s releases, Hamas and its allies will continue to hold 63 Israeli hostages in Gaza. At least 32 of those are believed to be dead, according to the Israeli government – one of whom, the soldier Hadar Goldin, has been held since 2014.

If another four hostage bodies are released next week as planned, the handover process for the first phase of the deal will be complete.

Israel and Hamas are holding indirect negotiations to extend the ceasefire. Those talks began more than two weeks late.

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Tren de Aragua, MS-13 and the Sinaloa cartel are among the two gangs and six drug cartels the US has officially designated as foreign terrorist organizations, fulfilling a long-standing goal from US President Donald Trump’s first term in office.

Trump previously ordered the US to declare cartels terrorist groups in a January 20 executive order, but until US Secretary of State Marco Rubio’s official announcement on Thursday, none of the cartels had been specifically named. During his first term, Trump had considered a similar maneuver but refrained at the request of then-Mexican President Andres Manuel Lopez Obrador.

In an order published in the federal government’s Public Register, Rubio named two gangs: Tren de Aragua of Venezuela and MS-13 of El Salvador; and six Mexican drug cartels: Cartel de Sinaloa, Cartel de Jalisco Nueva Generacion, Carteles Unidos, Cartel del Noreste, Cartel del Golfo, and La Nueva Familia Michoacana.

They join the ranks of other groups designated as foreign terrorist organizations by the US, including ISIS, Boko Haram, and Hamas.

Here’s what you need to know about each of these groups:

Tren de Aragua

Tren de Aragua began as a prison gang in Venezuela, according to the US Treasury Department, with much of their criminal enterprise focused “on human smuggling and other illicit acts that target desperate migrants.”

TdA became a political talking point during the last presidential campaign, after police in Aurora, Colorado, said several suspects in a 2023 kidnapping there were members of the gang. As he stumped for the presidency, Trump held up Aurora and Tren de Aragua as an example of what he said were migration’s inevitable results, claiming that the gang had taken control of vast swathes of territory in Colorado. Aurora police, however, pushed back, saying that the gang’s presence in the city was “isolated.”

For Trump, “cracking down on Tren de Aragua is part and parcel of cracking down on the era of mass migration,” said Will Freeman, a Latin America fellow at the Council on Foreign Relations.

MS-13

MS-13, or Mara Salvatrucha, is a Salvadoran-American street gang and criminal organization, notorious for its brutality and its deep roots in the United States. MS-13 was a prominent theme of Trump’s first term, with the president often referring to the group as “violent animals.”

Unlike any of the other groups listed in Rubio’s order, MS-13 is technically native to the US. According to a history of MS-13 from InSight Crime, a think tank focused on organized crime in Latin America, a group of Salvadorans originally founded the group in 1980s Los Angeles.

In the following years, MS-13 began to grow and evolve as more Salvadorans arrived in the US, fleeing the civil war back home. Though the group began as a Salvadoran gang, according to a 2008 FBI threat assessment, its ranks have opened to others from Latin America, including Hondurans and Guatemalans. When US authorities began deporting members of MS-13 back to the region in the 1990s, it caused an explosion of gang activity in El Salvador and neighboring countries.

By 2015, El Salvador was the murder capital of the Western Hemisphere. Ten years later, however, the murder rate has plummeted. Salvadoran President Nayib Bukele has focused much of his time in office on curbing violence from gangs like MS-13, arresting nearly 1% of the country’s population and throwing thousands of gang members in prison.

MS-13’s addition to the designation list is a “curveball,” said Freeman.

“It’s a bit weird,” Freeman pointed out. “One of the main countries it drew its strength from was El Salvador. It’s really been dismantled there.”

Cartel de Sinaloa

The Cartel de Sinaloa or the Sinaloa Cartel is closely associated with its former leader Joaquín “El Chapo” Guzmán, known for his numerous prison escapes and immortalized in rapper Gucci Mane’s 2012 single “El Chapo.” After the US extradited Guzmán from Mexico in 2017 and convicted him on 10 counts of federal drug-related crimes two years later, his sons – El Chapitos – partly took control of the group. The DEA alleged in a 2024 National Drug Threat Assessment that the Sinaloa Cartel operates with four different components cooperating without a single, formal leader.

According to the Council on Foreign Relations, the Sinaloa Cartel’s international presence is unmatched by any other Mexican criminal group, with a diverse empire of extortion rackets, weapons trading, prostitution and oil theft alongside their drug business. In 2023, former US Attorney General Merrick Garland alleged the Sinaloa Cartel operates the “largest, most violent, and most prolific fentanyl trafficking operation in the world.” In the same press release, the Justice Department alleged that the group is “largely responsible” for the manufacturing and importing of fentanyl for distribution in the US.

Cartel del Golfo

Journalist Ioan Grillo writes in his authoritative book “El Narco” that the Gulf Cartel got its start during the Prohibition era, smuggling heroin and whiskey over the border into the US. But it wasn’t until the 1990s and 2000s that CDG reached prominence under the stewardship of Osiel Cardenas Guillen.

Cardenas, whom Grillo describes as a “balding former car thief,” eventually enticed members of the Mexican Special Forces to join his syndicate as enforcers. Their unit eventually (and violently) branched off into Los Zetas Cartel in 2010, according to a 2022 report from the Congressional Research Service. Cardenas, meanwhile, was arrested and extradited to the US in 2007, where he was imprisoned. In 2024, the US handed him over to Mexico so he could stand trial on numerous charges there.

Cartel de Jalisco Nueva Generacion

The Jalisco New Generation Cartel, or CJNG, is one of the “most powerful and ruthless criminal organizations” inside Mexico, according to the DEA’s 2024 National Drug Threat Assessment.

CJNG is led by Nemesio Oseguero Cervantes, a former police officer better known as El Mencho, according to InSight Crime. A Justice Department indictment of Oseguero says his organization is active in the Mexican states of Jalisco, Colima, and Veracruz, and has presences elsewhere.

The DEA alleges that the cartel “operates under a franchise business model,” allowing CJNG to rapidly expand and control significant swathes of narcotrafficking routes. Heavily involved in the production and trafficking of methamphetamine and fentanyl, the DEA claims that CJNG has deep connections with suppliers for chemical precursors in China. Jalisco exercises control over various maritime ports to import these chemical products and has an extensive network of smuggling routes.

Cárteles Unidos

In its latest incarnation, Cárteles Unidos formed in 2019 as an alliance of the Cartel of Tepalcatepec, Los Viagras, and other groups, with the shared goal of combatting CJNG and expelling them from Michoacán, according to InSight Crime.

Before disbanding, a prior version of the group formed in 2010 to stop the advance of the Zetas into Michoacán and Jalisco, InSight reports. It was composed of members from many organizations from the Sinaloa Cartel, the Knights Templar cartel, Milenio Cartel, and the Familia Michoacana.

The broader organization is led by Juan José Farías Álvarez, known as “El Abuelo,” the former leader of the self-defense group that fought the Knights Templar in Tierra Caliente. Carteles Unidos also is involved in growing avocados, one of Mexico’s chief exports. The cartel devotes significant energy to extorting avocado producers, and one recent report found that 80% of the avocado orchards in Michoacan were established illegally.

Cartel del Noreste

The Cartel del Noreste (CDN) operates primarily in northeast Mexico along the US border. The cartel emerged when Los Zetas – itself a spinoff of the Gulf Cartel – splintered after a series of high-profile leadership losses, according to InSight Crime.

A 2024 Justice Department indictment against several members of the organization accused CDN and Los Zetas of “using terroristic violence to control large swaths of Northern Mexico, including along the border between Mexico and the United States.”

In November 2024, Homeland Security said that the group was involved in smuggling migrants into the US, claiming that “in recent years it has added human smuggling to its list of illicit money-making operations, with Facebook and social media becoming invaluable tools to facilitate its new venture.”

La Nueva Familia Michoacana

According to the US Treasury, La Nueva Familia Michoacana is led by José Alfredo and Johnny Hurtado Olascoaga with a presence in Michoacán, Guerrero, and the state of Mexico. The US State Department has alleged that the organization is involved in “migrant smuggling” into the US, alongside the fentanyl, cocaine, and methamphetamine trades.

The group’s founder, Nazario “El Chayo” Moreno, was known for preaching Bible verses and self-help phrases to the members of his organization, according to the Mexican attorney general’s office. Moreno famously “died” twice: Mexican authorities initially claimed they killed him in 2010 but couldn’t produce an image of his dead body. The official story drew suspicion up through 2014, when Mexico’s Public Security System said he was shot and killed during a raid, acknowledging their previous announcement was incorrect.

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Germans are going to the polls on Sunday in national elections. Opinion polls suggest the outcome will likely be a new chancellor and a new governing coalition.

Usually a little dry and often predictable, this election campaign by comparison has been eventful.

Last November, Chancellor Olaf Scholz of the Social Democratic Party (SPD) unceremoniously fired his finance minister. Scholz then lost a vote of confidence, triggering early parliamentary elections.

Shortly afterwards, Elon Musk, the world’s richest man and a confidant of the Trump administration, waded into the campaign, voicing his support for the far-right Alternative for Germany (AfD).

Musk’s intervention sparked a national debate about how Germany remembers its own 20th-century history. The chancellor called Musk’s support for far-right politicians in Europe “disgusting.”

The AfD for its part is likely to break new ground in German politics, with opinion polls suggesting it may become the second-largest political group in the country – a first for a far-right party since the Nazi era.

Two key themes have dominated campaigning: curbing mass migration and righting the country’s flailing economy.

Who are the main candidates for chancellor?

FRIEDRICH MERZ

Friedrich Merz of the Christian Democratic Union (CDU), the party of former Chancellor Angela Merkel, has been the longtime frontrunner in this contest. Regularly polling at more than 30%, the Union party – composed of the CDU and its Bavarian sister party, the CSU – seems destined to be Germany’s largest party and return itself to the helm of German politics.

The CDU has adopted a much more aggressive policy towards immigration than seen in the Merkel era of open borders.

In the final weeks of campaigning, Merz catapulted immigration to the fore – so much so, that he has been accused of leaving the door open to working with the far-right.

In late January, he caused nationwide consternation when he sought to push legislation imposing stricter controls on immigration through the Bundestag, or German parliament.

His willingness to use the support of the AfD to do so broke a long-held taboo in German politics – although he ultimately failed to pass a binding bill – and prompted massive protests in German cities.

Merz is not a newcomer to German politics, but this is his second iteration as a politician.

Between 1989 and 1994, Merz was a member of the European parliament (MEP) for Germany. He subsequently became a member of the Bundestag, representing the CDU there until 2009. He then left politics to work as a corporate lawyer, where he sat on many supervisory boards, including at investment giant BlackRock.

He now represents his hometown of Brilon and is widely reputed to be a millionaire with a private pilot’s license.

He made two failed attempts to become CDU head, in 2018 and 2021. He officially took over as head of the party in 2022.

ALICE WEIDEL

The AfD’s candidate for chancellor, its co-leader Alice Weidel, is staunchly anti-immigration.

The AfD had a successful 2024, performing strongly in regional elections. It became the largest party in Thuringia, a first since the Nazi era, and came a close second in another regional vote.

Opinion polls suggest that popularity has translated to the national level too. The party has been polling in second place, with around 20%, since the snap election was called and the figures have hardly budged.

OLAF SCHOLZ

The incumbent chancellor’s party, the SPD, could become the election’s biggest losers.

Having become the largest party in the 2021 election, opinion polls indicate they look set for a downward swing in votes by around 10 points. That would put them not only behind the AfD, but fighting it out with the Greens for third.

Scholz rode to power on a wave of post-Merkel optimism, but his “traffic light” coalition has been beset by infighting from the start. Many of those disagreements spilled out into public and the country grew weary of constant bickering.

All of that lead to some pretty dim views of Scholz and his SPD. One poll last September ranked Scholz as the least popular German chancellor since reunification.

Scholz’s popularity was so low that just before the election season kicked into full swing, there were rumors that his party wanted Boris Pistorius, the current defense minister, to replace him as the party’s Kanzlerkandidat.

ROBERT HABECK

The Green Party, polling nationally at around 13%, should also be considered one to watch.

It is unlikely to gather enough votes to be the biggest party, but it could play an important role in the formation of the next government. The Greens’ candidate for chancellor is Robert Habeck, currently the nation’s economics minister.

What are the main issues?

Immigration has been the major focus of this election, with concerns fueled in part by a series of high-profile attacks allegedly carried out by asylum seekers or migrants.

Scholz reintroduced checks on borders with neighboring European nations in recent months, a move many saw as him trying to curry favor with voters who may be turning towards the populist AfD.

Running a close second is the economy.

Usually a powerhouse, Germany’s economy has been stagnating, and the general view is that major reform is needed.

In January, the Federal Statistics Office of Germany said that the country’s GDP had shrunk for the second year running, by 0.2%, following a contraction in 2023 of 0.3%.

Many of the economic headwinds have been caused by issues outside of Scholz’s control but, nevertheless, voters believe that his government has done little to try to rectify the situation.

One major contributor to the hardships stems from Russia’s war in Ukraine. Shortly after the invasion of Ukraine, Germany ended its usual heavy reliance on Russian gas.

That, coupled with the rising competition from China in the automotive sector – a huge cog in the economic machine of Germany – and a looming trade crisis with a belligerent Trump administration are all worrying prospects.

Connected to the debate on the economy will be a focus on reviving the country’s important automotive industry. The Central Bank has said that problems within the industry are “structural,” and are thus exacerbating the drag on the economy.

Major companies including Volkswagen, one of world’s largest car manufacturers, are facing the prospect of mass layoffs and plant closures.

What are the possible outcomes?

Germany’s governments are almost always formed in coalitions as no one party manages to gather the 50%-plus votes needed to govern alone.

This time around will be no different, and there are multiple different options for potential coalitions. The winner of the election will look for a partner to form a majority, but it can take weeks or even months for a government to be formed.

Whatever the outcome of the vote, however, one thing is almost certain: The AfD will be blocked from being a partner in any coalition.

In a quirk of German politics, the governing coalitions are often given names. The previous coalition government, headed by the SPD (red), included the Green Party (green) and Liberal Party (yellow) – together they were known as the “traffic light” coalition.

Perhaps just one thing is clear – the next German government is not going to emerge fully formed after the polls close on Sunday night.

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For days, they say they were locked inside a hotel in Panama, surrounded by tight security with limited contact with the outside world.

Nearly 300 migrants from Asia, all deported by the US, were held there by Panamanian authorities who agreed to take them in and eventually repatriate them. It’s part of the Trump administration’s mass deportation campaign, which it has pressured Latin American nations to help with.

But the conditions they have faced are distressing and may have violated their rights, the lawyers said.

Trapped in a hotel

The migrants started arriving in Panama City last week after being deported from the US. Some didn’t even know they were being flown to another country until they actually landed in Panama, according to attorney Ali Herischi, who said “they were told they’re going to Texas.”

The migrants were then sent to the Decapolis Hotel and forced to stay there for days without stepping foot outside.

Jenny Soto Fernández, a Panamanian lawyer who represents about 24 migrants from India and Iran, said her clients were living in isolation, fear and uncertainty.

She said a lot of them didn’t know their rights and weren’t given orders of removal upon being deported. They also face language barriers and are constantly worried about being repatriated, she added.

One of the migrants is Artemis Ghasemzadeh, an Iranian national who fled her country out of fear of persecution because of her conversion to Christianity.

“Under Islamic law, you cannot convert from Islam to any other religion,” said Herischi, who represents her.

Ghasemzadeh now worries her life will be at risk if she’s returned to Iran.

At the hotel, some migrants tried to voice their concerns by sending distress signals to journalists gathered outside. Standing in front of their windows, they held up pieces of paper with handwritten notes begging for support.

“Please help us,” one sign read. “We are not (safe) in our country.”

Another message was written with lipstick directly on the window. “HELP US,” it read in bold, red letters.

The migrants were not allowed to leave the hotel “for their own protection,” Panama’s Security Minister Frank Ábrego told a local radio program on Wednesday. He said they were held at the hotel, in part, because officials needed to “effectively verify who these people are who are arriving in our country.”

Soto argues that the migrants have the right to seek asylum because they’re fleeing persecution.

Soto said she tried at least four times to meet her clients at the hotel to sign legal documents required by authorities but was blocked by officials and never made it past the lobby.

“They actually were so emotional, screaming and said, ‘I want my lawyer! I want her. I want to talk to her. I don’t want to talk to these people here,’” Soto said.

She said that while they had comfortable beds and a place to stay, they were under “psychological pressure being closed in with security guards, immigration police, (and) officers there.”

Panamanian President José Raúl Mulino on Thursday denied that authorities have violated any laws.

“These organizations are respectful of human rights. It’s false and I deny that we are mistreating them,” Mulino insisted.

Security Minister Ábrego said Wednesday that he hadn’t heard of any migrants requesting asylum there.

“But if they think they have the need, as any human being would, to request asylum, we have to pay attention to it and approve or disapprove it,” he added.

Bused to a migrant camp

The Panamanian government said that from Tuesday to Wednesday, about 97 migrants were taken out of the hotel and bused to a remote holding camp on the outskirts of the Darién Jungle. It happened after a New York Times report exposed the desperation of those stranded in the hotel in Panama City.

He said they described the site as tough and dirty, with limited access to medication and the internet.

One family has a sick child who could be heard crying in the background during a call between Herischi and Panamanian officials.

Sabalza said the family she represents was also taken to the camp.

She said Panamanian authorities had not yet provided them with guidelines on how the attorneys would be able to visit their clients at the camp or if they would need special permits to enter.

“It is urgent for us to have clarity about the mental and physical health status of our (clients),” she said.

When the migrants arrived at the gate on Wednesday morning, Herischi said the situation was so unorganized that the guards didn’t even have a list of the migrants’ names to identify them upon arrival. The guards later confiscated all the migrants’ cell phones.

He added that he plans to file legal action against Panama and the US in the Inter-American Court of Human Rights and US federal court.

More than 100 migrants have asked not to be repatriated, Panamanian officials have said.

The IOM is expected to work with them and try to find a third country that will accept them, Security Minister Ábrego said.

Meanwhile, President Mulino said another group of migrants would be sent to the camp because “that’s where they can be more at ease.”

He added that 175 migrants who are still in the hotel have voluntarily agreed to return to their countries of origin. At least 13 have already been sent back.

Herischi said Panamanian authorities assured him they would not send Ghasemzadeh and other migrants back to Iran if they expressed fear of reprisals. Instead, officials said they would speak with the embassies of other countries to see if they can accept them.

Herischi concluded, “The only ‘luck’ that they got is that Panama has no relationship with Iran, so there is no Iranian embassy there.”

“That’s a good thing.”

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A federal judge on Friday granted a preliminary injunction over parts of the Trump administration’s executive orders on diversity, equity and inclusion (DEI).

The injunction largely blocks the sections of President Donald Trump’s orders that seek to end federal support for programs deemed to be DEI-related, and prevents the Trump administration from canceling contracts that they believe promote diversity, equity or inclusion. 

U.S. District Judge Adam Abelson in Baltimore, a Biden nominee, ruled that parts of the executive orders likely violate the Constitution and free speech.

‘The harm arises from the issuance of it as a public, vague, threatening executive order,’ Abelson said in a hearing this week, adding that it would discourage businesses working with the government from openly supporting DEI. 

The ruling comes after the city of Baltimore, the National Association of Diversity Officers in Higher Education, the American Association of University Professors and the Restaurant Opportunities Centers United – which represents restaurant workers – sued the Trump administration over the executive orders, calling them presidential overreach and anti-free speech. 

‘Ordinary citizens bear the brunt,’ attorneys for the plaintiffs wrote in the complaint. ‘Plaintiffs and their members receive federal funds to support educators, academics, students, workers, and communities across the country. As federal agencies make arbitrary decisions about whether grants are ‘equity-related,’ Plaintiffs are left in limbo.’

They argued that Trump was encroaching on Congress’ powers in order to champion his personal beliefs. 

‘But the President simply does not wield that power,’ they wrote in the complaint. ‘And contrary to his suggestions otherwise, his power is not limitless.’

Trump signed an order on his first day in office directing federal agencies to terminate all ‘equity-related’ grants or contracts. He signed a follow-up order requiring federal contractors to certify that they don’t promote DEI. 

The Trump administration argued in a Wednesday hearing that the president was only banning DEI programs that violate federal civil rights laws. 

‘What’s happening is an overcorrection and pulling back on DEI statements,’ attorney Aleshadye Getachew said in a hearing. 

A second federal lawsuit was also filed in the U.S. District Court for the District of Columbia on Wednesday targeting Trump’s DEI executive orders. The new complaint was filed by the NAACP Legal Defense Fund and Lambda Legal on behalf of nonprofit advocacy organizations. 

The lawsuit is aimed at Trump’s executive orders: ‘Ending Radical and Wasteful DEI Programs and Preferencing,’ ‘Defending Women From Gender Ideology Extremism and Restoring Biological Truth to the Federal Government,’ and ‘Ending Illegal Discrimination and Restoring Merit-Based Opportunity.’ 

White House spokesman Harrison Fields said both lawsuits represented ‘nothing more than an extension of the left’s resistance,’ adding in a statement to the New York Times that the administration was ‘ready to face them in court.’

‘Radical leftists can either choose to swim against the tide and reject the overwhelming will of the people, or they can get on board and work with President Trump to advance his wildly popular agenda,’ Fields said.

Fox News’ Danielle Wallace and The Associated Press contributed to this report. 

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President Donald Trump on Friday said his administration is ‘pretty close’ to striking a deal with Ukraine for rights to access its natural resources in exchange for the United States’ billions of dollars in support for the country against Russia. 

‘You know, I think they want it, and they feel good about it,’ Trump told reporters on Friday in the Oval Office after the swearing-in ceremony of Commerce Secretary Howard Lutnick. ‘And it’s significant. It’s a big deal. But they want it, and it keeps us in that country. And they’re very happy about it.

‘We get our money back. They should have been signed long before we went in. They should have been signed by Biden. But Biden didn’t know too much about what he was doing. The war should have never happened, No. 1. When it did happen, it could have been settled. 

‘The first week or two weeks after that, it got bad. It got really bad, but it should have been, it should have never happened. And it should have been settled, and it could have been settled very easily at the beginning. Now it’s tougher, but we’ll get it settled.’

During his speech at the Conservative Political Action Conference (CPAC) Friday, Trump’s National Security Advisor, Mike Waltz, said, ‘Here’s the bottom line: President Volodymyr Zelenskyy is going to sign that deal, and you will see that in the very short term.’ 

Waltz also told ‘Fox & Friends’ this week that Ukraine should ‘tone down’ its criticism of Trump and ‘come back to the table’ to work out an economic deal with the U.S.

The deal for U.S. access to Ukraine’s rare earth minerals is part of broader negotiations to end the war in Ukraine after Russia invaded the country in 2022. 

Treasury Secretary Scott Bessent told Fox News Wednesday Trump is creating a ‘win-win’ partnership between the United States and Ukraine with the deal days after meeting with Zelenskyy in Kyiv.

‘Part of my trip was to go and tell the Ukrainian people that we wanted an economic partnership with them,’ Bessent told Bret Baier on ‘Special Report.’ 

‘So, President Trump’s vision is [to] bring the Ukrainian people and the American people closer together economically, show the Ukrainian people that we support them, show the American people that the money that is going into Ukraine, that there is going to be a return, that there’s going to be a long-term partnership.’

The Trump administration is seeking to recoup the cost of aid sent to the war-torn country by gaining access to rare earth minerals like titanium, iron and uranium.

The delay also comes amid rising tensions between Trump and Zelenskyy as the U.S. works with Russian officials to broker a peace deal in the ongoing war. 

Trump argued on Fox News Zelenskyy has ‘no cards’ to negotiate leverage for a deal as the pair have publicly hurled insults at one another in recent days. 

‘I’ve been watching this man for years now as his cities get demolished, as his people get killed, as his soldiers get decimated,’ Trump told Fox News co-host Brian Kilmeade.

‘I’ve been watching him negotiate with no cards. He has no cards, and you get sick of it,’ he added. ‘You just get sick of it, and I’ve had it.’

Trump argued Zelenskyy is a poor negotiator, noting Bessent traveled to Ukraine last week to broker a mineral agreement, worth hundreds of billions of dollars, but said the pair ‘couldn’t even come close’ to a deal.

The president said the trip was dangerous for Bessent and a waste of time. 

The deal would have helped U.S. investment in the war-torn nation and also provided ‘the best security guarantee they could ever hope for,’ according to Waltz.

Fox News’ Bailee Hill contributed to this report.

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Statistics Canada released its January consumer price index (CPI) figures on Tuesday (February 18). The data showed that inflation ticked up on a yearly basis to 1.9 percent from the 1.8 percent recorded in December. On a monthly basis, CPI rose 0.1 percent in January following a 0.4 percent decline in December.

The rise in inflation was owed to a 5.3 percent increase in energy prices on an annualized basis, primarily gasoline and natural gas, after recording a more modest 1 percent gain the previous month. Headlining the gains was an 8.6 percent jump in gasoline prices versus the same period last year and a 3.5 percent increase over December.

The agency also released its December mineral production survey on Thursday (February 20). The report showed overall increases in copper, gold and silver production and shipments compared to November’s totals.

Copper production increased by over 5 million kilograms to 38.93 million kilograms in December, up from 33.23 million kilograms the prior month. Shipments saw a similar increase, with 49.17 million kilograms shipped compared to 44.6 million kilograms shipped in November.

Gold production increased to 17,325 kilograms from 16,573 kilograms in November. Meanwhile, shipments of the precious metal increased even more, coming in at 23,217 kilograms compared to 14,332 kilograms in November.

As for silver, December saw the highest production and shipment levels for silver in 2024. Silver production increased to 33,074 kilograms, up significantly month-over-month from 24,959 kilograms. Silver shipments jumped even more at 36,984 kilograms, a considerable uptick from November’s 23,709 kilograms.

In mining news, Anglo American (LSE:AAL,OTCQX:AAUKF) announced that its 50.1 percent owned subsidiary Anglo American Sur and Chilean state mining company Codelco signed a memorandum of understanding to create a framework for implementing a joint mining plan for the companies’ adjacent Los Bronces and Andina mines in Chile.

Anglo American says the new operating company will optimize the use of processing capacity between the two mines. The companies expect that the mines will produce an additional 2.7 million metric tons of copper over a 21-year period starting in 2030, and generate an additional US$5 billion in pre-tax value. The companies will retain full ownership of their respective properties.

Markets and commodities react

US equity markets were broadly down this week, with the S&P 500 (INDEXSP:INX) losing 1.67 percent to end Friday (February 21) at 6,013.12 and the Nasdaq-100 (INDEXNASDAQ:NDX) falling 1.93 percent to 21,614.08. The Dow Jones Industrial Average (INDEXDJX:.DJI) sank the furthest, down 2.89 percent to 43.428.03.

In Canada, markets were also in decline. The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 2.48 percent on the week to close at 634.69 on Friday, the S&P/TSX Composite Index (INDEXTSI:OSPTX) posted a 2.15 percent loss to hit 25,147.03 and the CSE Composite Index (CSE:CSECOMP) dropped 2.59 percent to 132.46.

After hitting new all-time highs on Wednesday, the gold price remained in record territory on Friday, seeing a 1.78 percent increase on the week to close at US$2,934.24 per ounce at 4:00 p.m. EST. Silver also saw gains this week, moving up 1.22 percent to US$32.52.

In base metals, the copper price was in decline this week, shedding 2.13 percent throughout the week to close at US$4.59 per pound on the COMEX. Meanwhile, the S&P GSCI (INDEXSP:SPGSCI) was flat, shedding 0.08 percent to close at 569.41.

Top Canadian mining stocks this week

So how did mining stocks perform against this backdrop?

We break down this week’s five best-performing Canadian mining stocks below.

Data for this article was retrieved at 3:00 p.m. EST on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered.

1. Minsud Resources (TSXV:MSR)

Company Profile

Weekly gain: 47.06 percent
Market cap: C$156.7 million
Share price: C$1

Minsud Resources is a copper exploration company focused on advancing its operations in Argentina.

Its flagship project, Chita Valley, is located in San Juan and covers 19,883 hectares. The area hosts widespread porphyry copper-molybdenum-silver-gold mineralization and includes three core properties: the Chita, Brechas Vacas and the Minas de Pinto mineral concessions. Minsud’s primary target is its Chinchillones deposit.

Shares in Minsud saw recent gains following the release of a technical report for Chita Valley on February 14 reporting its January maiden mineral resource estimate (MRE) for the Chinchillones deposit. The deposit’s total indicated resource is 188 million metric tons (MT) of ore containing 466,000 MT of copper, 674,000 ounces of gold, 63.5 million ounces of silver, 6,800 MT of molybdenum and 291,000 MT of zinc.

The deposit also hosts an inferred resource of 573 million MT of ore containing 1.24 million MT of copper, 1.65 million ounces of gold, 166.6 million ounces of silver, 53,200 MT of molybdenum and 616,000 MT of zinc.

2. Kapa Gold (TSXV:KAPA)

Weekly gain: 32 percent
Market cap: C$11.58 million
Share price: C$0.165

Kapa gold is an exploration company focused on advancing the past-producing Blackhawk mine in San Bernardino County, California.

The project site is composed of seven patented and 178 contiguous federal lode claims covering 1,496.2 hectares. The property hosts multiple mineralized zones with previous exploration work revealing deposits with high grade gold, silver, lead and zinc. Historic production has seen grading from ramps and underground mines averaging 10 grams per metric ton (g/t) gold.

Kapa has not released news since January 7, when it announced that it was advancing baseline studies and surface exploration at Blackhawk. The company said the work was being conducted in preparation for a 2025 drill program, with data gathered being used to identify drill targets.

3. Power Metals (TSXV:PWM)

Company Profile

Weekly gain: 31.03 percent
Market cap: C$160.67 million
Share price: C$1.14

Power Metals is a lithium and cesium exploration company focused on its Case Lake project.

Located in Northeastern Ontario, the site is 10 kilometers by 9.5 kilometers in size and comprises 585 cell claims. Exploration at the site between 2017 and 2024 led to the discovery of pegmatite dykes bearing lithium, cesium and tantalum (LCT). Case Lake now consists of six spodumene dykes that form a mineralization trend of about 10 kilometers.

Assays from the site released on February 14 included a highlight of 8.07 meters grading 2.19 percent lithium oxide, 5.19 percent cesium oxide and 1,438 parts per million (ppm) tantalum. The results also included a 1 meter intersection bearing 1.85 percent lithium oxide, 11.7 percent cesium oxide and 208 ppm tantalum.

In addition to its most recent exploration news, Power Metals announced on February 10 that it had brought on DRA Global to begin work on a maiden mineral resource estimate and preliminary economic assessment for the Case Lake project. It expects to have the former completed by the end of Q1 2025, with the latter to follow in Q2.

Adding to Power Metals’ recent share gains was a release on February 5 in which the company reported that it had been awarded a new exploration permit for Case Lake. The new permit will remain valid for the next three years and will be used to target newly identified cesium targets uncovered in late 2024.

While the company did not release news this week, it continued its upward trend from recent weeks.

4. Minco Silver (TSXV:MSV)

Company Profile

Weekly gain: 29.73 percent
Market cap: C$12.82 million
Share price: C$0.24

Minco Silver is a development company working to advance its Fuwan silver project in China’s Guangdong province.

The property consists of three exploration permits covering a total of 125.74 square kilometers. Exploration to date has largely been focused on an area hosting 2.8 kilometers by 10 kilometers of strike.

A 2009 feasibility study for the property included a total probable reserve estimate of 55.3 million ounces of silver across 9.12 million metric tons of ore with an average grade of 189 g/t.

Shares in Minco have seen gains this past week but the company has not released news.

5. K2 Gold (TSXV:KTO)

Company Profile

Weekly gain: 29.03 percent
Market cap: C$24.65 million
Share price: C$0.18

K2 Gold is a gold exploration and development company with a portfolio of three assets located in Canada and the United States.

The company’s Wels project in Canada is composed of 351 contiguous quartz claims covering 7,200 hectares near Beaver Creek, Yukon. According to the project page, K2 says the deposit is similar to Newmont’s (TSX:NGT,NYSE:NEM) nearby 4 million ounce Coffee gold deposit.

In the US, K2 owns its flagship Mojave gold project in Inyo County, California, which covers 5,830 hectares with 12 exploration targets. In addition to gold, Mojave also contains mineralization of copper, silver, lead and zinc.

The company’s final asset is the Si2 gold project in Esmeralda County, Nevada, US. The site consists of 118 Bureau of Land Management lode claims covering 986 hectares in the Walker Land trend. Exploration has indicated gold-bearing mineralization, with concentrated veins hosted by fault structures at depth.

On January 17, K2 announced that it signed an agreement with Orogen Royalties (TSXV:OGN) to accelerate its acquisition of a 100 percent stake in the Si2 project.

The new deal will see K2 pay Orogen C$250,000 in cash or common shares and a 2 percent net smelter return royalty to immediately acquire the property, replacing a January 2022 deal in which K2 had to make US$200,000 in cash payments and C$2.3 million in exploration expenditures.

The release also included results from an alteration study on Si2 drill core that determined the presence of an intact, low-sulfidation epithermal gold system.

K2 said the acquisition “allows us the flexibility to advance the project at our own pace as we approach the final steps in permitting at K2’s flagship Mojave project.

The Company’s most recent news came on February 21, when it said it had increased its previously announced non-brokered private placement to C$3 million in capital through the sale of 20 million units at a price of C$0.15 per share. The funds will be used for exploration and permitting at the Mojave gold project.

FAQs for Canadian mining stocks

What is the difference between the TSX and TSXV?

The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

How many companies are listed on the TSXV?

As of June 2024, there were 1,630 companies listed on the TSXV, 925 of which were mining companies. Comparatively, the TSX was home to 1,806 companies, with 188 of those being mining companies.

Together the TSX and TSXV host around 40 percent of the world’s public mining companies.

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

Article by Dean Belder; FAQs by Lauren Kelly.

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

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

This post appeared first on investingnews.com

The TSX Venture Exchange has released its annual TSX Venture 50 ranking, recognizing the top-performing companies based on share price appreciation, market capitalization growth and Canadian trading value.

Among this year’s top 10 are six companies from the mining and oil and gas sectors.

Read on to learn about the companies and their assets.

1. Sintana Energy (TSXV:SEI)

Company Profile

Sintana Energy, a Canadian oil and natural gas exploration company, secured the third position on the TSX Venture 50.

The company’s share price rose an impressive 293 percent in 2024.

Sintana’s primary asset is its ownership interest in the VMM-37 block, located in Colombia’s Magdalena Basin. With offices in Toronto and Dallas, Sintana continues to strengthen its exploration portfolio.

2. Power Metallic Mines (TSXV:PNPN)

Company Profile

Power Metallic Mines ranked fourth overall on the TSX Venture 50 and saw a 365 percent increase in share price.

The company is focused on developing its Nisk project, a high-grade nickel-copper-PGMs-gold-silver asset in Québec, Canada. Nisk spans a 20 kilometer strike length, with multiple high-grade discovery zones.

Power Metallic Mines changed its name from Power Nickel, effective February 21, to better reflect the polymetallic nature of its flagship asset. CEO Terry Lynch emphasized in the announcement that the Lion zone’s high-grade copper, platinum and palladium assays necessitated a rebranding to align with the company’s evolving vision.

3. Montage Gold (TSXV:MAU)

Company Profile

Fifth place Montage Gold, which recorded a 193 percent share price appreciation last year, is advancing the Koné gold project in Côte d’Ivoire. The project is regarded as one of Africa’s highest-quality gold assets, boasting a 16 year mine life and an annual production target exceeding 300,000 ounces for the first eight years.

With an all-in sustaining cost of US$998 per ounce, the project is well positioned for economic viability.

Construction began in late 2024, with first gold production anticipated by Q2 2027.

4. Founders Metals (TSXV:FDR)

Company Profile

Canadian exploration company Founders Metals came in sixth place and experienced a 196 percent rise in share price. Founders Metals is focused on the Antino gold project in Suriname’s Guiana Shield.

Covering over 20,000 hectares, Antino hosts a past-producing mine that produced over 500,000 ounces of gold.

The company recently announced a high-grade gold discovery at the Van Gogh prospect, reporting an intersection of 28.5 meters at 7.12 grams per metric ton gold from a 2025 drilling campaign.

5. Q2 Metals (TSXV:QTWO)

Company Profile

Q2 Metals secured ninth place with a 214 percent share price appreciation.

The company is focused on its lithium projects in Québec’s Eeyou Istchee James Bay region.

Last year, the company acquired the Cisco lithium project, which comprises 767 claims across 39,389 hectares. Q2 Metals is also actively advancing the Mia lithium project, which hosts the MIA 1 and MIA 2 lithium occurrences along a 10 kilometer trend. Additionally, it owns the 3,972 hectare Stellar lithium project located near the Mia project.

6. Artemis Gold (TSXV:ARTG)

Company Profile

Artemis Gold rounds out the list in 10th place with a 118 percent share price appreciation. The company is focused on developing the Blackwater mine in BC, which holds a gold resource of over 10 million ounces.

The project has secured key regulatory approvals and is expected to become one of Canada’s largest gold mines. This January, Artemis announced its first gold and silver pour at Blackwater, marking a major milestone.

President and Chief Operating Officer Jeremy Langford noted that the crushing circuit has exceeded nameplate throughput, and the milling circuit is performing as expected. Commercial production remains on track for Q2 2025.

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

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President Donald Trump on Friday night nominated Air Force Lt. Gen. Dan ‘Razin’ Caine to be the next chairman of the Joint Chiefs of Staff. 

‘General Caine is an accomplished pilot, national security expert, successful entrepreneur, and a ‘warfighter’ with significant interagency and special operations experience,’ Trump wrote in a post on Truth Social announcing the nomination.

Trump said during his first term, Caine was ‘instrumental’ in the ‘complete annihilation’ of the ISIS caliphate.

‘It was done in record setting time, a matter of weeks. Many so-called military ‘geniuses’ said it would take years to defeat ISIS,’ the president wrote. ‘General Caine, on the other hand, said it could be done quickly, and he delivered.’

Trump said despite Caine ‘being highly qualified and respected,’ he was ‘passed over for promotion by Sleepy Joe Biden.’

‘But not anymore! Alongside Secretary Pete Hegseth, General Caine and our military will restore peace through strength, put America First, and rebuild our military,’ Trump wrote. ‘Finally, I have also directed Secretary Hegseth to solicit nominations for five additional high level positions, which will be announced soon.’

‘General Caine embodies the warfighter ethos and is exactly the leader we need to meet the moment. I look forward to working with him,’ Defense Secretary Pete Hegseth wrote in a statement to Fox News Friday night. 

While it is typical for Joint Chiefs chairmen to remain in their positions during shifts of power, Trump made the decision to find a replacement. 

Both Trump and Hegseth gave a nod to the departing chairman, four-star fighter pilot General Charles ‘CQ’ Brown.

‘I want to thank General Charles ‘CQ’ Brown for his over 40 years of service to our country, including as our current Chairman of the Joint Chiefs of Staff,’ Trump wrote. ‘He is a fine gentleman and an outstanding leader, and I wish a great future for him and his family.’

Hegseth added Brown served with ‘distinction in a career spanning four decades of honorable service.’

‘I have come to know him as a thoughtful adviser and salute him for his distinguished service to our country,’ he wrote. 

The Secretary of Defense has been outspoken about Diversity, Equity and Inclusion (DEI) policies adversely affecting military operations, and previously suggested firing Brown and other top leaders.

Hegseth said he is requesting nominations for the positions of Chief of Naval Operations and Air Force Vice Chief of Staff.

‘The incumbents in these important roles, Admiral Lisa Franchetti and General James Slife, respectively, have had distinguished careers,’ Hegseth wrote. ‘We thank them for their service and dedication to our country. ‘

Hegseth said the department is also requesting nominations for the Judge Advocates General for the Army, Navy and Air Force.

‘Under President Trump, we are putting in place new leadership that will focus our military on its core mission of deterring, fighting and winning wars,’ he wrote.

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