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Uranium market watchers know that Canada’s Athabasca Basin is among the world’s richest uranium jurisdictions and hosts several of the highest-grade uranium deposits on the planet.

Spanning close to 100,000 square kilometers of the Canadian Shield of Northern Saskatchewan and Alberta, the Athabasca Basin is a major contributor to Canada’s status as the second largest uranium producer and the third largest country by uranium reserves.

Unsurprisingly, the region is home to the world’s largest uranium mine, Cigar Lake. The mine reports average grades of 14.69 percent U3O8 and accounts for 14 percent of global uranium production.

First commissioned in 2014, Cigar Lake is operated by uranium major Cameco (TSX:CCO,NYSE:CCJ), which holds a 54.547 percent stake in the mine, as part of a joint venture with Orano Canada at 40.453 percent and TEPCO Resources at 5 percent. Ore from the underground mine property is processed at Orano’s McClean Lake mill, located 70 kilometers from the mine.

Uranium was first discovered in the Athabasca Basin in 1934, and today the region remains a major hot spot for uranium exploration. In recent years, a number of Athabasca Basin uranium companies have made exciting new discoveries, sparking a staking rush by others looking to get in on the action.

Athabasca Basin uranium exploration companies

1. ATHA Energy (TSXV:SASK,OTCQB:SASKF)

ATHA Energy has an extensive uranium exploration pipeline across Canada, including in Saskatchewan’s Athabasca Basin. At 3.8 million acres, ATHA’s land package in the Athabasca Basin includes the Gemini project, a basement-hosted near-surface uranium deposit with uranium intercepts of between 6,190 and 96,600 parts per million.

The company also holds a 10 percent carried interest in exploration projects operated by NexGen Energy (TSX:NXE,NYSE:NXE) and IsoEnergy (TSX:ISO).

2. Azincourt Energy (TSXV:AAZ,OTCQB:AZURF)

Azincourt Energy has two uranium projects in Canada, one of which is its East Preston joint venture project near the southern edge of the Western Athabasca Basin. Azincourt has an 86.5 percent interest, with the remainder held by Skyharbour Resources. The 20,647 hectare property is adjacent to Skyharbour’s minority-owned Preston project.

Azincourt says it is targeting basement-hosted unconformity-related uranium deposits in two prospective conductive, low-magnetic-signature corridors. The company is planning for a fall 2025 geophysics exploration program at East Preston in preparation for a potential winter 2026 diamond drill program.

3. Baselode Energy (TSXV:FIND)

Baselode Energy’s strategy is developing assets near the Athabasca Basin with similar geology. Its ACKIO near-surface uranium discovery at its Hook project is located directly adjacent to the Athabascan Basin. First discovered by the company in September 2021, the ACKIO near-surface uranium prospect is more than 375 meters along strike, and more than 150 meters wide.

Baselode has identified at least nine separate uranium pods, or small bodies of mineralization, on the project. Drill results from its summer 2024 exploration program were released in May 2025, demonstrating the potential for further expansion of the known uranium mineralization at ACKIO.

4. CanAlaska Uranium (TSXV:CVV)

CanAlaska Uranium is a project generator with interests in a portfolio of assets in the Athabasca Basin covering 1.24 million acres. The company is advancing its West McArthur joint venture with Cameco, which is situated near the McArthur River mine in the Eastern Athabasca Basin. CanAlaska owns 85 percent of the project.

CanAlaska’s 2025 C$12.5 million drill program at West McArthur is aimed at expanding and delineating the high-grade Pike Zone uranium discovery.

Earlier this year, the company completed the first drilling in over 10 years at its wholly owned Cree East deposit in the south-eastern portion of the Basin. The drill program was fully funded by Nexus Uranium (CSE:NEXU,OTCQB:GIDMF) as part of an option earn-in agreement to earn up to 75 percent interest in the project.

5. Denison Mines (TSX:DML)

Uranium miner Denison Mines’ direct ownership interests in the Athabasca Basin region covers approximately 384,000 hectares. The company has a 22.25 percent stake in the McClean Lake mine and mill joint venture project operated by Orano Canada.

Denison’s flagship project in the region is Wheeler River, considered the largest undeveloped uranium project in the eastern region of the Athabasca Basin. Wheeler River hosts the high-grade Phoenix and Gryphon deposits.

According to a 2023 feasibility study, Phoenix hosts a proven and probable resource of 219,000 metric tons at an average grade of 11.7 percent uranium for 53.3 million pounds. The company plans to develop the deposit as an in-situ recovery operation.

The Canadian Nuclear Safety Commission is slated to conduct hearings for the project’s environmental assessment and license on October 8 and December 8 to 12, 2025. If approval is granted, the company is looking to break ground in early 2026 and commence production by the first half of 2028.

As for the Gryphon deposit, Denison has evaluated it as a conventional mine in a pre-feasibility study. The company conducted a field program in the first quarter 2025 that may be used for a future feasibility study.

6. F3 Uranium (TSXV:FUU,OTCQB:FUUFF)

F3 Uranium has three exploration properties in the western region of the Athabasca Basin: the advanced-stage Patterson Lake North project, which hosts the JR discovery, as well as the early-stage Minto and Broach projects.

In February 2025, the company launched a drill campaign at its Patterson Lake North project followed by ground geophysical exploration programs at its Broach and Minto projects. F3 Uranium raised C$7 million in flow-through shares in May 2025, which will go towards further exploration of its uranium projects.

7. Forum Energy Metals (TSXV:FMC,OTCQB:FDCFF)

Forum Energy Metals has numerous wholly owned and joint venture projects hosting new discoveries of high-grade unconformity-related uranium deposits in the Athabasca Basin. So far in 2025, the company’s focus has been on the Northwest Athabasca (NWA) project, a joint venture between Forum at 45.4 percent, NexGen Energy at 25.3 percent, Cameco at 18 percent and Orano Canada at 11.3 percent.

Early in the year, Forum announced an option agreement allowing Global Uranium (CSE:GURN,OTCQB:GURFF) to earn up to 75 percent of Forum’s stake in the property by spending C$20 million in exploration expenditures at NWA.

In April, Global Uranium completed a diamond drilling program and ground geophysical surveys on the project, which intersected elevated radioactivity and alteration systems distinct to unconformity-type uranium mineralization.

8. IsoEnergy (TSX:ISO)

IsoEnergy has a portfolio of projects and joint ventures in the Eastern Athabasca Basin, and its main focus is the Hurricane deposit at its wholly owned Larocque East uranium property.

The company discovered Hurricane in 2018 and it now stands as the world’s highest-grade indicated resource of uranium. A 2022 resource estimate reported an indicated high-grade resource of 63,800 metric tons grading 34.5 percent uranium for 48.61 million pounds of contained uranium.

IsoEnergy’s summer exploration program will include drilling to test potential resource expansion at Larocque East as well as exploration at its other Athabasca Basin projects.

9. NexGen Energy (TSX:NXE,NYSE:NXE)

NexGen is another uranium mining company with a large land package in the basin, including its development-stage Rook I project.

Rook I has a measured and indicated resource estimate of 256.7 million pounds contained uranium from ore grading an average of 3.1 percent U3O8. The 2021 feasibility study outlines an 11.5 year initial mine life with up to 29.2 million pounds of U3O8 production per year for the first five years.

The Federal Environmental Impact Statement for Rook I was accepted in January 2025, and the Canadian Nuclear Safety Commission has proposed hearing dates for the project on November 19, 2025, and February 9 to 13, 2026. NexGen plans to immediately begin construction activities following final federal approval.

10.Paladin Energy (TSX:PDN)

Paladin Energy’s Patterson Lake South (PLS) project hosts the large, high-grade and near-surface Triple R deposit, which has the potential to produce both uranium and gold. The company acquired it as part of its acquisition of Fission Uranium in 2024. Paladin also holds six early-stage uranium projects in the basin.

PLS’s mineral reserve estimate includes probable reserves of 93.7 million pounds from 3 million metric tons of ore at an average grade of 1.41 percent U3O8. The 2023 feasibility study demonstrates life of mine production of approximately 9 million pounds U3O8 per year over a 10 year mine life.

The company released positive drill results from its winter drill program on the Saloon East zone in June 2025 showing the potential to further grow the resource base of the property outside of the Triple R deposit. The project is advancing through the environmental permitting process.

11. Purepoint Uranium (TSXV:PTU)

Purepoint Uranium has an extensive uranium portfolio, including six joint ventures and five wholly owned projects all located in the Athabasca Basin.

Purepoint has a significant joint venture relationship with IsoEnergy (TSX:ISO) that includes a 50/50 joint venture agreement to explore 10 uranium projects across 98,000 hectares in the eastern portion of the Athabasca Basin. The partners launched a 2025 drill campaign in May at the Dorado project, which will include approximately 5,400 meters across 18 holes, targeting high-priority electromagnetic conductors for uranium mineralization.

Its joint ventures also include the Hook Lake uranium project in the Patterson region, in which it owns a 21 percent interest alongside Cameco and Orano Canada, which both hold 39.5 percent.

12. Skyharbour Resources (TSXV:SYH,OTCQX:SYHBF)

Skyharbour Resources is another junior mining company with an extensive portfolio of uranium exploration projects in the Athabasca Basin, comprising 36 uranium projects over 614,000 hectares. The company’s core projects include its 57.7 percent owned Russell Lake project — a joint venture with Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) — and its wholly owned Moore project.

Skyharbour’s 49,635 hectare Preston uranium project in the western portion of the Athabasca Basin is the subject of a 7,000 meter 2025 summer drill campaign being conducted by its joint venture partner, Orano Canada. Orano is the majority owner and operator at the project at 53.4 percent, while Skyharbour owns a minority interest of approximately 25.6 percent. The remainder is held by Dixie Gold.

13. Standard Uranium (TSXV:STND,OTCQB:STTDF)

Standard Uranium is an emerging project generator that holds interest in over 94,476 hectares in the Athabasca Basin, including its flagship Davidson River project in the southwest region of the basin.

In spring 2025, Standard Uranium partnered with Fleet Space Technologies Canada on three ExoSphere Multiphysics survey grids across the Warrior, Bronco and Thunderbird conductors at Davidson River. The surveys will provide important data for upgrading drill targets across the property through imaging of density anomalies in the basement rock.

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

This post appeared first on investingnews.com

Mali’s military-led government has completed its takeover of the Yatela and Morila gold mines.

Reuters reported on Monday (June 30) that according to the Malian government, control of the Yatela mine in Western Kayes and the Morila mine in Southern Sikasso has officially been transferred to the Society for Research and Exploitation of Mineral Resources of Mali (SEMOS), a newly formed entity in the country.

The Yatela mine was abandoned in 2016 by Sadiola Exploration Company — a joint venture between South Africa’s AngloGold Ashanti (NYSE:AU,JSE:ANG) and Canada’s IAMGOLD (TSX:IMG,NYSE:IAG) — after the operators deemed continued production uneconomic despite leftover reserves.

Morila, once one of Mali’s flagship gold sites, was abandoned in 2022 by Australia’s Firefinch, which had taken over the site from Barrick Mining (TSX:ABX,NYSE:B) and AngloGold. Mali’s government says Morila was left with “significant environmental and financial liabilities,” raising concerns about whether SEMOS can turn operations around profitably.

These moves are part of a broader push by Mali’s military government, which came to power after coups in 2020 and 2021, to restructure the gold sector and capture more revenue from high commodities prices.

Mali produces around 65 metric tons of gold annually, making it Africa’s second largest producer, yet it lacks an internationally certified refinery and is heavily dependent on foreign operators for both technology and market access.

Earlier this year, Business Insider Africa reported that the country had started construction on a Russia-backed gold refinery, another step meant to increase control over its natural resources.

Since taking power, Mali’s authorities have steadily pressured miners via higher taxes, tougher licensing conditions and new contract terms aligned with its 2023 mining code, which grants the state a bigger stake in operations.

Yet critics caution that simply taking over mines without clear management plans or technical expertise risks undercutting investor confidence and missing out on today’s high gold price.

Gold is up 28.5 percent year-to-date, hitting an all-time high of US$3,500 per ounce in April, driven by geopolitical fears and US President Donald Trump’s aggressive tariff policy.

Mali’s ongoing dispute with Barrick Mining

Mali’s relationship with Barrick has soured amid the country’s move to exert resource sector control.

Earlier this month, a commercial court in Bamako ordered the temporary transfer of control of Barrick’s flagship Loulo-Gounkoto gold complex to a state-appointed administrator for six months.

Judge Issa Aguibou Diallo appointed Soumana Makadji, a former health minister and certified accountant, to oversee the complex, participate in negotiations and report to the court quarterly, but not to the government directly.

Barrick called the move “unjustified” and “unprecedented,” maintaining that it remains committed to previous mining conventions and that the Malian government’s push to apply the 2023 mining code retroactively is legally invalid.

Barrick’s Loulo-Gounkoto complex, among the most productive gold mines in Africa, has been inactive since January after Malian authorities seized roughly 3 metric tons of gold over disputed taxes.

Since November 2024, the government has also blocked gold exports from the site, escalating tensions as the gold rally has boosted Mali’s hopes for greater revenue.

The government insists that Barrick must comply with its revised mining framework. Barrick, on the other hand, has started international arbitration to protect its long-term agreements.

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

This post appeared first on investingnews.com

Home Depot said Monday that it is buying GMS, a building-products distributor, for about $4.3 billion as the retailer moves to draw more sales from contractors and other home professionals.

Shares of Home Depot were roughly flat in early trading Monday. GMS shares jumped more than 11%.

As part of the deal, the Home Depot-owned subsidiary SRS Distribution will buy all outstanding shares of GMS for $110 per share, which adds up to about $4.3 billion and amounts to total enterprise value including net debt of about $5.5 billion, the company said.

Home Depot said it expects the acquisition to be completed by early 2026.

Home Depot’s announcement also concludes a potential bidding war between the big-box retailer and billionaire Brad Jacobs. Jacobs’ building-products distributor QXO had offered about $5 billion in cash to acquire GMS and said it would press forward with a hostile takeover if the company’s management rejected the proposal.

As Home Depot chases growth, it’s gone after a steadier and more lucrative piece of the home improvement business: electricians, roofers, home renovators and other professionals who tackle large projects year-round and need a lot of supplies. Home Depot said it’s speeding along that strategy with the GMS deal.

Home Depot bought SRS Distribution — the subsidiary that’s acquiring GMS — last year for $18.25 billion, in the largest acquisition in its history. Texas-based SRS sells supplies to professionals in the landscaping, roofing and pool businesses and it has bought up many other smaller suppliers as it’s grown.

Home Depot’s focus on selling to professionals is well-timed. Sales from do-it-yourself customers have slowed as higher mortgage rates have decreased housing turnover and dampened homeowners’ demand for larger projects because of higher borrowing costs.

The company said it expects total sales to grow by 2.8% for the full fiscal year and comparable sales, which take out the impact of one-time factors like store openings and calendar differences, to rise about 1%.

This post appeared first on NBC NEWS

Turkish police arrested at least four cartoonists on Monday accused of drawing and distributing a cartoon that authorities and protesters say is a depiction of the Prophet Mohammed and Moses.

The cartoon, published in a political satire magazine, shows what appears to be a Muslim and a Jewish man, both with wings and halos, shaking hands and greeting each other as bombs fall below.

The cartoon went viral on social media four days after it was published. Hundreds of people took to Istanbul’s main tourist street, chanting “Allah is Great” and calling for sharia law in protest. Turkish authorities quickly condemned the magazine.

Interior Minister Ali Yerlikaya called the cartoon a provocation and said those “who dare to do this will be held accountable before the law.” Yerlikaya said the cartoon was not protected by freedom of expression or freedom of speech.

Fahrettin Altun, the head communications for the Turkish Presidency, called it a “vile attack on our beliefs and values.”

The country’s Justice Ministry announced an investigation had been launched into the incident under Article 216 of the Turkish Penal Code for the crime of “publicly insulting religious values.”

LeMan, the weekly political satire magazine known for irreverent comics similar to French Charlie Hebdo, released a statement saying their cartoon was not depicting the Islamic prophet.

“This cartoon is not a caricature of the Prophet Mohammed (pbuh). In the work, the name Mohammed is fictionalized as belonging to a Muslim person killed in Israel’s bombardments. There are more than 200 million people named Mohammed in the Islamic world. The work does not refer to the Prophet Mohammed in any way,” the magazine said.

“By highlighting a murdered Muslim, the aim was to highlight the righteousness of the oppressed Muslim people, with no intention whatsoever of belittling religious values. We reject the stigma imposed on us, as there is no depiction of our Prophet,” LeMan said.

“To interpret the cartoon in such a way requires extreme malice,” the magazine added, but also offered an apology to any readers who may have been offended.

As protesters took to the streets, the Interior Ministry released videos of cartoonists being detained in their homes, barefoot and handcuffed by police with captions such as “You will not escape from our security forces or from justice.”

Protesters were seen kicking the doors of the magazine offices in central Istanbul. In one video a demonstrator shouts, “For our Prophet, we would give our lives and take lives; no one can insult our Prophet.”

The crowd also performed a nighttime prayer. Within hours, Istanbul’s governor Davut Gul announced that all four people who were wanted for the cartoon were in police custody.

Gul did not say if any demonstrators were detained but said in a statement, “It has been determined that some individuals mingling among the protesters have engaged in provocative actions. It is of great importance that the protesting groups disperse to prevent harm to our citizens and to maintain public order.”

Some groups have called for further protests against the magazine on Tuesday.

This is a developing story and will be updated.

This post appeared first on cnn.com

Home Depot said Monday that it is buying GMS, a building-products distributor, for about $4.3 billion as the retailer moves to draw more sales from contractors and other home professionals.

Shares of Home Depot were roughly flat in early trading Monday. GMS shares jumped more than 11%.

As part of the deal, the Home Depot-owned subsidiary SRS Distribution will buy all outstanding shares of GMS for $110 per share, which adds up to about $4.3 billion and amounts to total enterprise value including net debt of about $5.5 billion, the company said.

Home Depot said it expects the acquisition to be completed by early 2026.

Home Depot’s announcement also concludes a potential bidding war between the big-box retailer and billionaire Brad Jacobs. Jacobs’ building-products distributor QXO had offered about $5 billion in cash to acquire GMS and said it would press forward with a hostile takeover if the company’s management rejected the proposal.

As Home Depot chases growth, it’s gone after a steadier and more lucrative piece of the home improvement business: electricians, roofers, home renovators and other professionals who tackle large projects year-round and need a lot of supplies. Home Depot said it’s speeding along that strategy with the GMS deal.

Home Depot bought SRS Distribution — the subsidiary that’s acquiring GMS — last year for $18.25 billion, in the largest acquisition in its history. Texas-based SRS sells supplies to professionals in the landscaping, roofing and pool businesses and it has bought up many other smaller suppliers as it’s grown.

Home Depot’s focus on selling to professionals is well-timed. Sales from do-it-yourself customers have slowed as higher mortgage rates have decreased housing turnover and dampened homeowners’ demand for larger projects because of higher borrowing costs.

The company said it expects total sales to grow by 2.8% for the full fiscal year and comparable sales, which take out the impact of one-time factors like store openings and calendar differences, to rise about 1%.

This post appeared first on NBC NEWS

The British Royal Household released its financial statement on Monday, revealing that the annual lump sum from the government remained at £86.3 million ($118.50 million).

The sum, called the Sovereign Grant, pays for the upkeep of royal palaces and the royals’ official duties and is funded by British taxpayer money. In return, the monarch hands over all profits from the Crown Estate — which includes vast swathes of central London property, the Ascot Racecourse and the seabed around England, Wales and Northern Ireland — to the government, in an arrangement dating back to 1760.

The Sovereign Grant functions like an expense account for the monarch and their representatives, covering the costs of their public duties, including travel, staff, and upkeep of historic properties. Notably, it excludes funding for security, which also incurs a high cost given the royals’ numerous public engagements and events.

Royal family members undertook more than “1,900 public engagements in the UK and overseas, while more than 93,000 guests attended 828 events at Official Royal Palaces,” the annual Sovereign Grant Report said.

The total grant of £86.3 million ($118.50 million), which by law remains the same as the three previous financial years, is comprised of a £51.8 million ($71.1 million), core grant and £34.5 million ($47.4 million) to fund the refurbishment of Buckingham Palace.

Buckingham Palace, a top tourist attraction in central London, is undergoing a major modernization project that will see upgrades to electric cabling, pipework, elevators and accessible bathrooms.

The royal family will decommission the royal train “following a thorough review into its use and value for money,” according to the accounts report. The monarchy has been using its own rail travel since Queen Victoria first boarded a specially built carriage from Slough, England, to London Paddington Station in 1842.

The report also said the Royal Household will increase its use of sustainable aviation fuel (SAF) and continue the electrification of its fleet of vehicles.

Last year, the Royal Household announced it aimed to transition to an “almost fully electric” fleet of vehicles, without providing a target date. Britain’s PA Media reported that the King’s two Bentleys would be modified to run on biofuel.

The royal family’s three main sources of income are the Sovereign Grant, the Duchy of Lancaster and Duchy of Cornwall estates and their personal property and investments.

The level of funding for the British royal family has long fueled criticism, with one anti-monarchy group calling for the Sovereign Grant to be abolished and for the British public to keep all the profits of the Crown Estate.

“The grant system is mad. Funding goes up not because of any need for extra money, but because the grant is linked to government profits from land managed by the Crown Estate,” Graham Smith, a campaigner for the group Republic, said in a statement earlier this year. “The palace has recycled the excuse of needing the money for refurbishment of Buckingham Palace, an excuse used to double the grant ten years ago.”

“It’s time that half a billion pounds was put to good use, that there was proper accounting for the cost of the monarchy and for that cost to be slashed to just a few million pounds,” Smith added.

The Keeper of the Privy Purse, James Chalmers, said in a statement on Monday as the report was released: “Soft power is hard to measure but its value is, I believe, now firmly understood at home and abroad, as the core themes of the new reign have come into even sharper focus, and the Royal Family have continued in their service to the nation, Realms and Commonwealth.”

This post appeared first on cnn.com

Prosecutors in northern Mexico’s Sinaloa state are investigating the discovery of 20 male bodies with gunshot wounds – including five that were decapitated – on a bridge over a federal highway.

Sinaloa Secretary General Feliciano Castro Meléndez called the case a “regrettable situation” and said it was “part of the violence and insecurity that Sinaloa is experiencing.”

Since 2024, Culiacán has been the epicenter of armed clashes between rival factions of the Sinaloa cartel.

Two of the most prominent factions are La Mayiza, which is loyal to the cartel’s alleged co-founder Ismael “El Mayo” Zambada, and Los Chapitos, which is loyal to the sons of former drug kingpin Joaquín “El Chapo” Guzmán.

‘Los Chapitos’

The violence in Sinaloa escalated after Zambada and one of El Chapo’s sons, Joaquín Guzmán López, were arrested last year by US authorities in El Paso, Texas.

Former Mexican Secretary of Security Rosa Icela Rodriguez said Guzmán López had reached an agreement with one of his brothers, Ovidio Guzmán López, who is in US custody, “So that they would go to the United States to surrender.”

Ovidio had been extradited to the US in September 2023 to face drug trafficking charges over his alleged role in the Sinaloa cartel. Days after his extradition, he pleaded not guilty to the charges in a US court.

Later that month, several members of his family entered the US as part of an apparent “negotiation or plea deal opportunity provided by the (US) Department of Justice itself,” Mexico’s Security Secretary Omar García Harfuch said.

Two other sons of El Chapo, Ivan Archivaldo and Jesus Alfredo Guzmán Salazar, are still at large. The US has accused them of leading large-scale drug trafficking operations for the cartel and has issued $10 million bounties for information leading to each of their arrests.

This post appeared first on cnn.com

Investor Insight

South Harz Potash (ASX:SHP) is an advanced-stage potash development company unlocking value from one of Europe’s most strategic fertilizer assets. Headquartered in Perth, Australia, the company is currently advancing a dual-asset acquisition strategy to complement and enhance the long-term value proposition of its wholly-owned South Harz Potash Project.

A close-up of a few notes AI-generated content may be incorrect.

Overview

South Harz Potash (ASX:SHP) holds a high-potential critical minerals opportunity strategically located in central Europe. Due to its central location, the South Harz Potash Project is primely positioned to capitalise on long-term potash price upside via its direct access to European agricultural markets, electrified rail infrastructure, and existing brownfield underground access.

Europe is seeking to enhance critical mineral resilience amid tightening global potash supply chains. European MOP supply has declined over the past decade, while imports face growing geopolitical risk due to sanctions and restrictions on major exporters such as Belarus and Russia. South Harz Potash offers a potential reliable, low-carbon, and locally-sourced future potash supply to Western Europe’s agricultural centres.

South Harz Potash completed a Pre-Feasibility Study on Ohmgebirge in May 2024, which confirmed strong project economics and scalability. The company’s key potash assets are situated over perpetual mining licenses, underpinning sustained tenure security.

A disciplined capital allocation approach sees South Harz Potash exercising ‘strategic patience’ and aligning further advancement and development of Ohmgebirge with more favorable potash market dynamics. In the meantime, the company is carefully preserving and growing the long-term real option value that it holds from being a potential world-class future domestic potash supplier to Western Europe.

Company Highlights

  • Advancing a Dual-Asset Strategy: Targeting acquisition of a second critical minerals project complementary to the company’s flagship Ohmgebirge Development, part of its broader South Harz Potash Project in Germany.
  • Preservation and Growth of Long-Term Potash Option Value: Amidst current global and potash market volatility, the South Harz team is focussed on advancing its potash assets via non-dilutive funding sources such as German R&D tax rebates, ERMA funding, and ongoing engagement with financial and industry parties on potential strategic asset-level investment.
  • Western Europe’s Largest Potash Resource: The South Harz Potash Project comprises a dominant 659 sq km land position in Germany’s South Harz Potash District, being three perpetual mining licences (including Ohmgebirge) and two exploration tenements.
  • Perpetual Tenure: The South Harz mining licences are perpetual with no holding costs and no royalty obligations, ensuring maximum project flexibility and value retention.
  • Long-Term Macro Tailwinds for Potash: Europe faces declining MOP supply and is increasingly reliant on imports amid geopolitical disruption in Belarus and Russia. South Harz Potash is primely positioned to deliver stable future supply of sustainable, low-carbon potash to European markets.

The South Harz Opportunity: A Dual-Asset Strategy

South Harz Potash has a dual-asset strategy designed to drive long-term value growth complementary to its South Harz Potash Project.

#1 Acquire and Advance Second Critical Minerals Asset

Leveraging its existing corporate foundation and established presence in Europe and Australia, the company is targeting the strategic acquisition of new critical minerals assets that offer strong potential to drive shareholder value creation while potash markets progressively recover.

With global market conditions rapidly evolving, South Harz Potash holds the purpose and patience to explore new opportunities, backed by a steadfast and supportive major shareholder base.

#2 Preserve and Grow Long-Term Value in South Harz Potash Project

South Harz Potash’s flagship Ohmgebirge Development, part of its broader wholly-owned South Harz Potash Project, is centrally located in Germany’s historic South Harz mining district. It is associated with established regional infrastructure, offering valuable and highly differentiating brownfield development opportunity.

Ohmgebirge hosts a maiden Ore Reserve of 83.1 Mt at 12.6 percent potassium oxide (K₂O) and a total sylvinite Mineral Resource exceeding 286 Mt. The future development of Ohmgebirge benefits from access to over 60 percent renewable grid power, electrified rail to major European ports, and water recycling systems – supporting a low-impact, sustainable operation.

Ohmgebirge forms the foundation of South Harz’s potash strategy, with nearby licences – Ebeleben, Küllstedt, and Mühlhausen–Nohra – offering modular long-term expansion potential.

Management Team

Len Jubber – Executive Chairman

With over 30 years in the mining sector, Len Jubber has held leadership roles including managing director and CEO of Bannerman Resources, managing director/CEO of Perilya, and chief operating officer of OceanaGold. He began his career with Rio Tinto in Namibia and brings a wealth of technical, commercial, and entrepreneurial experience to the company.

Dr. Reinout Koopmans – Non-Executive Director

Dr. Reinout Koopmans brings 15 years of investment banking experience from London, having led global public equity raising for natural resource companies at Deutsche Bank and headed the European equity capital markets team at Jefferies International. He also served as a management consultant at McKinsey & Co in Germany and Southeast Asia. Koopmans holds a PhD and MSc from the London School of Economics and a degree from Erasmus University, Rotterdam.

Rory Luff – Non-Executive Director

Rory Luff is the founder of BW Equities, a specialist Melbourne-based equities advisory firm, with over 15 years of experience in the financial services industry. He has spent most of his career advising resource companies on capital raisings and financial market strategies.

Richard Pearce – Non-Executive Director

Richard Pearce has over 30+ years’ experience in the mineral industry across critical, industrial and energy minerals. His participation spans the full asset life cycle and value chains, and includes key roles held across board directorships, exploration and operations management, mining finance, M&A, business strategy and operational improvement. He has a proven business development and asset commercialisation track record.

Dr. Babette Winter – Regional Director & Managing Director of Südharz Kali GmbH

Dr. Babette Winter holds a PhD in chemistry and has extensive experience in politics, communication, public administration, environmental issues, and technology. She served for over five years as state secretary for Europe in Thuringia and held various leadership roles in environmental policy and public relations within German governmental bodies.

Graeme Smith – Company Secretary

Graeme Smith is an experienced finance professional with over 30 years in accounting, corporate governance, and company administration. He is a member of the Australian Society of Certified Practising Accountants, the Institute of Chartered Secretaries and Administrators, and the Governance Institute of Australia.

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President Donald Trump signed an executive order to formally lift all sanctions on Syria on Monday afternoon. 

‘The United States is committed to supporting a Syria that is stable, unified, and at peace with itself and its neighbors,’ the order stated, while directing the secretaries of State, Commerce and Treasury to relieve sanctions and waive export controls. 

‘This is in an effort to promote and support the country’s path to stability and peace. The order will remove sanctions on Syria while maintaining sanctions on the former president Assad or his associates, human rights abusers, drug traffickers, persons linked to chemical weapons activities, ISIS and their affiliates, and Iranian proxies,’ White House press secretary Karoline Leavitt told reporters. 

Trump is ‘committed to supporting a Syria that is stable, unified and at peace with itself and its neighbors,’ Leavitt said. 

Ambassador Tom Barrack, Trump’s envoy to Syria, called the new order a ‘tedious, detailed, excruciating process’ of unraveling the sanctions that had been in place for decades on the regime of Bashar al-Assad, who oversaw a nation at civil war for more than a decade. 

Brad Smith, the Treasury Department’s undersecretary for terrorism and financial intelligence, said sanctions would remain ‘where appropriate,’ including on Assad and his associates and any other destabilizing regional actors. 

Smith said the fall of Assad represented a ‘new beginning’ for the Syrian people and Trump had decided U.S. sanctions ‘would not stand in the way of what could be a brighter future for the country.’

But he warned: ‘The United States will remain ever vigilant where our interests and security are threatened, and Treasury will not hesitate to use our authorities to protect us and international financial systems.’

Some sanctions will still need to be lifted by Congress, and others date to 1979, when Syria was designated a state sponsor of terrorism. The administration has not yet lifted that designation. 

Trump met last month with Syria’s new interim leader, Ahmed al-Sharaa, during a Middle East visit. 

From having a $10 million bounty on his head to sitting down with the U.S. president, the turnaround of the Syrian leader has been remarkable.

Al-Sharaa’s group Hay’at Tahrir al-Sham (HTS), a Syrian militant organization founded as an offshoot of al Qaeda, overthrew Assad in March. 

Al-Sharaa had been campaigning hard for a relationship with Washington and sanctions relief: he offered to build a Trump Tower in Damascus, détente with Israel, and U.S. access to Syria’s oil and gas. He worked to soften the image of HTS and promised an inclusive governing structure. 

U.S. sanctions have included financial penalties on any foreign individual or company that provided material support to the Syrian government and prohibited anyone in the U.S. from dealing in any Syrian entity, including oil and gas. Syrian banks also were effectively cut off from global financial systems. 

The new order comes as Israeli and Syrian officials are engaged in back-channel talks on a potential security and normalization deal. 

Israel and Syria have long been foes, and some Israeli officials worry that lifting all sanctions on Syria means giving up ‘leverage’ to pressure them into a deal to normalize ties with Israel. 

To that point, one senior administration official shot back: ‘We have consistently said we’re not nation-building. It’s to Syria’s benefit to lean toward Israel.’ 

‘The president ripped off the sanctions without any preconditions,’ the official said. ‘Leverage is not what we’re interested in doing.’ 

War between Israel and Hamas in Gaza has complicated any movement on normalization deals between Israel and its neighbors. But the official predicted: ‘There’s going to be peace in Gaza.’ 

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