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While Billy Ray Cyrus’ performance at the Liberty Ball Monday sparked concern among fans, the veteran musician says the mishap is all just part of ‘rock ‘n’ roll.’

On Monday, the 63-year-old took the stage to sing hits like ‘Old Town Road’ and ‘Achy Breaky Heart’ in celebration of President Donald Trump’s inauguration, but Cyrus experienced some technical difficulties along the way. 

‘Check? Is anybody awake?’ Cyrus, whose guitar seemed to be unconnected after a shaky performance of the Lil Nas X song, asked. ‘Y’all want me to sing more, or you want me to just get the hell off the stage?’

As a backstage aide came to assist, Cyrus said, ‘In life, when you have technical difficulties, you just gotta keep going, or as President Trump would say, ‘You gotta fight.”

With the issue not being resolved, Cyrus decided to sing ‘Achy Breaky Heart’ a cappella, while snapping his fingers and attempting to engage with the crowd. 

People were quick to voice their opinions of the moment on social media, with one X user describing it as ‘possibly the cringiest few minutes in entertainment history,’ and another labeling it ‘a crime.’

In a statement to People magazine Tuesday, Cyrus said, ‘I wouldn’t have missed the honor of playing this event whether my microphone, guitar and monitors worked or not. I was there because President Donald J. Trump invited me. I had a ball at the Liberty Ball last night, and I’ve learned through all these years when the producer says, ‘You’re on,’ you go entertain the folks even if the equipment goes to hell. I was there for the people, and we had a blast. That’s called rock n’ roll!!!’

The mishap came just hours after Carrie Underwood experienced her own technical difficulties during her performance at Trump’s swearing-in ceremony. 

As she geared up to perform ‘America the Beautiful,’ the country star made a game-time decision to sing the song a cappella after the instrumental track failed to play. 

Carrie Underwood performs

The performance was followed by a round of applause from the crowd. 


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Explorer Amarc Resources (TSXV:AHR,OTCQB:AXREF) experienced a sharp increase in its share price following the announcement of a new discovery at its JOY copper-gold district in BC, Canada.

The company closed Friday (January 17) at C$0.72, up just over 165 percent from Thursday’s (January 16) close.

In a press release, Amarc states that it has named the find AuRORA, describing it as a high-grade porphyry copper-gold-silver discovery. AuRORA is located in an area of JOY that hadn’t previously been drill tested.

JP24057, the first hole drilled at the site, intersected this new copper-gold-silver system, and the company then worked with Freeport-McMoRan Mineral Properties Canada, a subsidiary of Freeport-McMoRan (NYSE:FCX), to complete step-out drilling with three core rigs. Friday’s release looks at JP24057 and results from six other holes.

Freeport is fully funding work programs at JOY in order to earn an interest in the project.

The seven holes were drilled at intervals of about 100 meters, and together have established a 600 meter wide zone of porphyry mineralization. Amarc states that it is near surface and has ‘excellent’ lateral and vertical continuity.

Amarc Resources

Amarc Resources’ January 17 drill results.

Table via Amarc Resources.

Amarc views the AuRORA deposit as a major highlight within the JOY district, which spans 495 square kilometers in the Toodoggone-Kemess region, an area known for significant porphyry deposits.

‘This impressive new, high grade porphyry copper-gold-silver discovery is a pivotal moment for Amarc and its shareholders,” said Amarc President and CEO Dr. Diane Nicolson, adding that it comes after years of groundwork.

“It represents a significant inflection point in the exploration of the JOY District with Freeport.’

The company followed Friday’s release up with additional drill results from AuRORA on Monday (January 20). The data spans six holes located 100 meters north of the first seven holes announced on Friday. They were also drilled at intervals of approximately 100 meters, and trace mineralization across a width of 600 meters.

‘These results are again confirming the continuity of the Au-rich AuRORA porphyry Cu-Au-Ag mineralized system from east to west and vertically, and now also to the north, and from near the surface,’ the company notes.

The release prompted another share price boost for Amarc, which rose as high as C$0.88 on Monday.

In Friday’s press release, Nicolson said that eight large-scale sulfide mineralized systems along several mineralized trends were drilled at JOY last year. A total of 33 scout holes were completed.

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

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Amid newly inaugurated President Donald Trump’s pardon of nearly 1,500 January 6 protesters, anti-abortion groups are calling on the president to pardon a 76-year-old grandmother and 20 others who were imprisoned and prosecuted for pro-life protests under the Biden Department of Justice.

One group, the Thomas More Society, a law firm specializing in pro-life cases, filed a petition to the new president in which it laid out the legal grounds for him to issue pardons and pointed out how President Joe Biden abused the justice system to target these pro-life activists.

Steve Crampton, a senior counsel at the Thomas More Society, told Fox News Digital that it is ‘absolutely vital’ these activists be pardoned to restore equality under the law.  

We hope by President Trump’s actions here that he will restore some sanity and rule of law to the approach of the Department of Justice and the FBI, but also help move this culture back toward a culture of life rather than one of death,’ said Crampton. ‘This small act on his part would, in fact, serve to kind of ignite a momentous movement toward restoring a respect for life in this nation that’s so desperately needed.’

Trump indicated several times during his campaign that he is open to issuing pardons for some of these pro-lifers who were prosecuted under a federal law called the Freedom of Clinic Entrances (FACE) Act. The activists were convicted of FACE Act violations for participating in various ‘sit-in’ protests inside abortion clinics in Washington, D.C., Nashville, Detroit, Long Island and Manhattan.

According to the Thomas More Society, Biden’s Department of Justice used the FACE Act to increase sentences for crimes that would otherwise have been simple trespassing charges. The group says Biden sought to make examples of these pro-lifers, prosecuting them to the fullest extent of the law, despite their sit-in protests inside abortion clinics being entirely peaceful and with no threat of violence or intimidation.

Now that Trump is back in the White House, the Thomas More Society believes he can restore justice for these 21 activists and, in so doing, help restore confidence and trust in the justice system among the American people.

In my lifetime, I’ve never seen a president honor his campaign promises the way this president has,’ said Crampton. ‘So, we’re very hopeful that he will do so again in this case. And for these people who are really just salt of the earth, the best kind of folks that ought to be in their communities doing good rather than behind bars.’ 

Of the 21 activists prosecuted under the Biden administration’s use of the FACE Act, nine are currently in prison. Several of those in prison are elderly, with three, Jean Marshall, Paullette Harlow and Joan Andrews Bell, in their 70s. The eldest is Bell, who, at 76, has seven adult children and seven grandchildren. She was sentenced to over two years in prison.

One activist, Heather Idoni, 59, who was sentenced to two years, has undergone serious health difficulties and suffered a minor stroke while in prison.

The longest prison sentence went to 31-year-old Lauren Handy, who is currently serving a nearly five-year sentence for her role in organizing a 2020 sit-in protest at the Washington, D.C., Surgi-Clinic run by Dr. Cesare Santangelo.

Also facing prison time is 89-year-old Eva Edl, a survivor of a communist concentration camp, who has been active in the pro-life movement for decades.

‘Down is up and up is down in this case,’ said Crampton. ‘These people are folks who, some of them, have adopted several special-needs children from places like Ukraine. Some are missionaries to China and Ukraine and the worst places on the planet, going out of their way to do good to people that are in desperate need. These are folks that ought to be receiving those citizenship medals that President Biden is handing out to the likes of George Soros, who is trying to destroy our nation.’  

‘We must restore the rule of law,’ he went on. ‘The questioning of Mr. Trump’s Cabinet appointees this past week, ironically enough, from the left, points again and again, back to the need not to single out political opponents for prosecution and so forth.’

‘We have recently undertaken a disrespect for the rule of law that has undermined any respect for authority in general, let alone the law in particular,’ he said. ‘So, I really think that this also is a small step back to restoring that absolutely essential respect for the rule of law that we must have if America is to survive.’


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President Donald Trump and Vice President JD Vance looked visibly irritated during the national prayer service at the Washington National Cathedral on Tuesday when the sermon took a political turn. 

Among the faith leaders who spoke was Right Reverend Mariann Edgar Budde, who had been a vocal critic of Trump and the U.S. government following George Floyd’s death. 

On Trump’s first full day back in office, Budde, of the Episcopal Diocese of Washington, delivered a sermon focused on ‘unity,’ but her remarks grew pointed when she brought up immigrants and LGBTQ youth. 

The reverend spoke directly to the president, saying ‘Let me make one final plea, Mr. President, millions have put their trust in you, and as you told the nation yesterday, you have felt the providential hand of a loving God. In the name of our God, I ask you to have mercy on the people in our country who are scared. There are gay, lesbian, and transgender children in Democratic and Republican and Independent families, some who fear for their lives.’ 


‘And the people – the people who pick our crops and clean our office buildings, who labor in poultry farms and meet packing plants, who wash the dishes at their restaurants and work the night shifts in hospitals, they – they may not be citizens or have the proper documentation, but the vast majority of immigrants are not criminals. They pay taxes and are good neighbors,’ Budde said. ‘They are faithful members of our churches and mosques, synagogues… and temples.’ 

The reverend asked Trump to have ‘mercy on those in our communities whose children fear that their parents will be taken away, and that you help those who are fleeing war zones of persecution in their own lands to find compassion and welcome, our God teaches us that we are to be merciful to a stranger.’

The vice president and second lady leaned over and whispered to one another during the sermon. 

At the start of her remarks, Budde began to ‘pray for unity as people and nation, not for agreement, political or otherwise, but for the kind of unity that fosters community across diversity and division, a unity that serves the common good.’

‘Unity, in this sense, is a threshold requirement for people to live in freedom and together in a free society,’ she said. 

 ‘Rather,’ Budde continued, ‘Unity is a way of being with one another, and it encompasses and respects differences that teaches us to hold multiple perspectives and life experiences as valid and worthy of respect that enables us in our communities to genuinely care for one another, even when we disagree.’

She went on to say, ‘Those of us gathered here, we are not naive about the realities of politics when power and wealth and competing interests are at stake, when views of what America should be are in conflict. When there are strong opinions across a spectrum of possibilities and starkly different understandings of what the right course of action is there, there will be winners and losers when those witness decisions made that set the course of public policy and the prioritization of resources.’

‘Not everyone’s prayers will be answered in the way we would like. But for some, the loss of their hopes and dreams will be far more than political,’ she said, adding that ‘all the faiths represented here affirm the birthright of all people as children of our one God. In public discourse, honoring each other’s dignity means refusing to mock and model, discount, demonize those with whom we differ, choosing instead to respect, respectfully, to make our differences, and whenever possible, to seek common ground.’

In his inaugural address, Trump asserted that there are ‘two genders, male and female,’ to thunderous applause. 

‘I will also end the government policy of trying to socially engineer race and gender into every aspect of public and private life,’ he said. ‘We will forge a society that is colorblind and merit based.’

The president has promised mass deportations of criminal illegal immigrants and further sparked controversy by signing an executive order eliminating birthright citizenship for the children of illegal immigrants. 

It’s not the first time Budde made her left-leaning political views known. A video clip from 2020 shows Budde speaking to an ABC News reporter while protesting in Washington, D.C. 

‘It is a message for a call to justice – for swift justice for George Floyd,’ Budde, wearing a face mask, said at the time. ‘For systemic justice for all brown and Black people who have been under the knee of this country in ways that we have witnessed time and time again.’ She went on to say, ‘This is wrong, and this rising up – this spontaneous uprising of people mostly half my age or younger, they are the ones we should be listening to.’ 

Budde also testified before Congress regarding a June 1, 2020, confrontation between demonstrators and law enforcement near St. John’s Church in Lafayette Square.

She said ‘our government resorted to acts of violence against peaceful protesters’ and said the Episcopal church believes the issues of ‘racial and social justice are core tenants of the Christian faith.’ 

Budde also condemned Trump for holding up a Bible outside the church following the unrest. Testifying virtually at the time, she told a House committee, ‘When the President held up a Bible outside our church as if to claim the mantle of spiritual authority over what had just transpired, I knew that I had to speak. Nowhere does the Bible condone the use of violence against the innocent.’

Trump revisited that same church on Monday morning before he was sworn in as the 47th president.

Fox News’ Sarah Tobianski contributed to this report 


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Lauren Sanchez made a drastic outfit change after she sparked backlash at President Donald Trump’s inauguration with a lingerie-inspired look.

After the fiancée of Jeff Bezos, the chairman of Amazon, wore a racy look to the historic political event, she opted for a more modest ensemble at the Inauguration Ball. 

Sanchez, 55, turned heads in a flowing Dolce & Gabbana golden-peach colored gown, that featured a satin corset. The former journalist’s elegant dress featured soft tulle sleeves that draped over her shoulders. She completed her look with dangling chandelier pearl earrings and had her hair styled in soft curls.

Her make-up consisted of her signature smoky eye shadow and glossed nude lips, as Sanchez shared behind-the-scenes photos of her posing for the camera. She wrote in her Instagram caption, ‘Starlight Ball,’ with a shooting star emoji. 

Fans commented on her ethereal gown, ‘You look absolutely stunning and early today at the inauguration.’

 
 
 
 
 
View this post on Instagram
 
 
 
 
 
 
 
 
 
 
 

Sanchez subtly hit back at criticism over her controversial inauguration outfit by ‘liking’ supportive Instagram comments on her most recent social media post. 

‘Girl you ate that inaugural look don’t pay attention to no haters,’ one positive comment read that she liked.

Another fan wrote, ‘You are truly an inspiration to me and I’m sure to many women,’ which Sanchez additionally liked on social media.

However, others continued to make comments about her previous daring outfit. 

‘Usually love her outfits but the inauguration was a massive failure … the outfit looked trashy .. i think lauren usually has more class..’ an Instagram user wrote. 

The children’s book author wore a white Alexander McQueen pantsuit featuring a fitted satin-trimmed blazer with a dangerously low-cut V-neck and wide-leg trousers at Trump’s inauguration on Monday. 

She skipped a traditional blouse and instead wore a white lace bustier. She accessorized with a fuzzy coat for the frosty day. Sanchez’s hair was styled in a sleek updo.

According to reports, Sanchez’s eye-popping ensemble retails for at least $1,800.

The pilot was accompanied by her billionaire beau, who sported a suit with an oxblood-hued tie.

Many quickly took to social media to slam her appearance.

‘Jeff Bezos future wife Lauren Sanchez is incredibly inappropriately dressed for a state occasion,’ one critic wrote on X. ‘Someone should have told her that having her white lace bra out on display is not acceptable.’

‘Good grief, Lauren Sanchez. Put them away for one day,’ chimed another.

‘Really, a bra plainly visible,’ another user wrote. ‘Today is NOT a night club event. Show some class & dignity.’

Sanchez appeared to have worn the same form-fitting suit at The New York Times DealBook event in December. She took a sultry selfie at the time for her nearly 900,000 followers.

 
 
 
 
 
View this post on Instagram
 
 
 
 
 
 
 
 
 
 
 

Facebook and Meta CEO Mark Zuckerberg, who was seated next to Sanchez, was also called out on social media, but for a different reason. Viewers of the inauguration couldn’t help but notice he seemingly snuck a look at her chest.

‘Zuckerberg was out of control ogling Jeff Bezos’ fiancée!’ one X user wrote, while another noted, ‘This is the most normal thing I have ever seen Zuckerberg do.’

On Monday, Trump was sworn in as the 47th president. The 78-year-old promised a ‘revolution of common sense’ as he sets out to reshape the country’s institutions.

After five years of dating, Bezos proposed to Sanchez in May 2023. While the couple hasn’t publicly announced any details about their wedding, Sanchez teased on the ‘Today’ show that she was already prepping for the big day.

Fox News Digital’s Stephanie Nolasco contributed to this report.


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European Lithium Limited (ASX: EUR, FRA: PF8, OTC: EULIF) (European Lithium or the Company) is pleased to announce Critical Metals Corp. (Critical Metals or CRML) has entered into a share subscription facility for up to US$125.0M from GEM Global Yield LLC SCS (GEM), a Luxembourg based private alternative investment group. Proceeds from the facility are expected to be used to fund the development of the Wolfsberg Lithium Project in Austria (Wolfsberg or Wolfsberg Project).

HIGHLIGHTS

  • Critical Metals has signed an agreement for a share subscription facility for up to US$125.0M in transaction funding from Global Emerging Markets (GEM)
  • Critical Metals expects to provide an update on further equity funding in the near term
  • Funding will principally be used to accelerate the development of the Wolfsberg Lithium Project in Austria.

Tony Sage, Chairman, commented: “Receiving this significant and binding commitment is a huge milestone for the Company. Combined with European Lithium’s recent deal with Saudi Arabian based, Obeikan Investment Group, the Company and Critical Metals have secured approximately 65% of the total expected capex of the Wolfsberg Project and brings us closer to our stated goal to be the first local producer of lithium spodumene for the green energy transition in Europe.

Under the terms of the definitive agreement, Critical Metals will have access to up to US$125.0M in incremental capital to fund its operations upon closing of the business combination transaction. The facility would enable Critical Metals, in its discretion but subject to the terms and conditions set forth in the definitive agreements, to draw down funds (up to US$125.0M) through the issuance of new shares directly to GEM over a three-year period after the closing of the transaction. Assuming no further redemptions are made by public stockholders of Sizzle Acquisition Corp. (Sizzle) in connection with its shareholder vote to approve the transaction, Critical Metals would now be expected to have access to up to ~US$175.0M in transaction proceeds (comprising of the GEM finance package and existing cash reserves).

The GEM finance package, together with European Lithium’s additional funding secured through the binding term sheet with Obeikan Investment Group (Obeikan)(refer to EUR announcement dated 2 June 2023), are expected to provide Critical Metals and European Lithium with significant capital to accelerate the development of the Wolfsberg Project once the transaction with Sizzle completes.

The Company can report substantial progress has been made in the development plan for the Wolfsberg project with the achievement of several key milestones highlighted by:

  • Mining permit secured – spodumene mined from the project successfully demonstrated its capability to supply high-purity lithium (99.6% lithium carbonate equivalent) at pilot plant.
  • Mineral Resource Estimate1 – 12.88 Mt of Measured, Indicated and Inferred classified Resources at 1.00% Li2O grade in Zone 1 only:
  • Binding agreement to build hydroxide plant – partnership with Obeikan to build lithium hydroxide processing plant in Saudi Arabia with significant cost savings expected.
  • Advanced project with drilling upside – established mine and current resource estimate based only on Zone 1 with drilling undertaken showing prospectivity in Zone 2.

For full details of the DFS, please refer to EUR announcement dated 8 March 2023, “Wolfsberg Lithium Project Definitive Feasibility Study Results”. The Mineral Resources underpinning the Ore Reserve have been prepared by a competent person in accordance with the requirements of the JORC Code (2012). The Competent Person’s Statement(s) are found in the section of this ASX release titled “Competent Person’s Statement(s)”. European Lithium confirms that it is not aware of any new information or data that materially affects the information included in that release. All material assumptions and technical parameters underpinning the estimates in that ASX release continue to apply and have not materially changed.

Click here for the full ASX Release

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Rio Silver Inc. (TSXV:RYO) (‘Rio Silver’) and African Energy Metals Inc. (NEX: CUCO.H; FSE: BC2; WKN: A3DEJG) (‘African Energy Metals’) jointly announce they have entered into an option agreement for African Energy Metals (the ‘Option Agreement’) to earn an 100% undivided interest in the Niñobamba advanced gold silver project (the ‘Project’) located in the Department of Ayacucho in South Central Peru.

Terms of the Option Agreement

Under the terms of the Option Agreement dated January 21, 2025 with Rio Silver, African Energy Metals has the right to earn a 100% interest in the Project upon the full exercise of the option under the Option Agreement. As set out in the table below, the Option Agreement requires a payment of CAD$260,000 during the first year of the Option Agreement and further payments of up to US$2,000,000, US$500,000 of which are advance payments on any royalties payable under the royalty agreement, pursuant to which a net smelter return royalty of 2% is granted to Rio Silver. African Energy Metals retains the right to buy back 1% of the NSR for US$1,000,000 prior to commercial production on the Project.

The Option Agreement also requires the issuance to Rio Silver of a total of 2,500,000 common shares of African Energy Metals upon receipt of regulatory approval and a further 2,500,000 common shares on the earlier of the date that is one year from the receipt of the Exchange’s approval and May 15, 2026. African Energy Metals has the right but not the obligation to issue African Energy Metals shares in lieu of 50% of any cash payment obligation. African Energy Metals paid a deposit of $10,000 on a non-refundable basis to Rio Silver when the Option Agreement was executed. Rio Silver will provide operational support and use of Rio Silver facilities in Peru for a minimum of one year at Rio Silver’s cost. Rio Silver is an arm’s length party to African Energy Metals. The share issuances and payments under the Option Agreement are subject to the approval of the TSX Venture Exchange and the NEX Exchange.

Chris Verrico, CEO of Rio Silver stated: ‘We are extremely pleased to be able to continue supporting progress at Niñobamba for the mutual benefit of all stakeholders. Rio Silvers management firmly believes that with the additional strength that this transaction brings to the table, that Niñobamba will imminently reap outsized reward. We remain ever impressed and optimistic by the resilience and ingenuity of the Peruvian people as the country continues to endorse supportive mining policies, ensuring continued growth and opportunity throughout the country. Rio Silver will fully assist African Energy Metals in advancing the Project for the mutual benefit of both companies, our shareholders and all stakeholders.

About Rio Silver Inc

Rio Silver is a Canadian exploration and development company with an oversized per cent of insider, friends and family ownership, focused on Peru. Rio Silver continues to review precious and base metal properties in Peru while maintaining its interest in its Ontario Gerow Lake, critical metals project. This transaction enables the Company to complete certain planned acquisitions that bring significant potential for near-term, cash flowing, production allowing the company to leverage other similar opportunities, going forward, in a non-dilutive shareholder friendly way.

ON BEHALF OF THE BOARD OF DIRECTORS OF Rio Silver INC.

‘Chris’ Christopher Verrico

Director, President and Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

For further information,

Christopher Verrico, President, CEO

Tel: (604) 762-4448

Email: chris.verrico@riosilverinc.com

Website: www.riosilverinc.com

This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required by applicable laws.

Primary Logo

News Provided by GlobeNewswire via QuoteMedia

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Russia’s foreign ministry has called on President Donald Trump to reaffirm the current international agreement surrounding the Panama Canal and to leave it in control of the nation of Panama. 

Alexander Shchetinin, the director of Russia’s foreign ministry’s Latin American department, told Russian news outlet TASS that he expects Trump ‘will respect the current international legal regime’ of the canal as laid out in two 1977 treaties between the U.S. and Panama.

The agreement relinquished American control over the canal by the year 2000 and guaranteed its neutrality.

Trump has railed against Panama since his sweeping election win in November, accusing the Central American country of letting China dominate the critical maritime trade route and leaving U.S. ships getting ‘ripped off’ in the process.

During his inaugural speech on Monday, President Trump doubled down on his grievances and declared that the U.S. would be ‘taking it back.’

‘We expect that during the expected discussions between the leadership of Panama and President Trump on issues of control over the Panama Canal, which certainly falls within the sphere of their bilateral relations, the parties will respect the current international legal regime of this key waterway,’ Shchetinin said.

He said that 40 countries also joined a protocol agreement, of which Russia is one, to recognize the canal’s neutrality and to keep it ‘safe and open.’

‘[The U.S. and Panama] must protect the canal from any threat to the neutrality regime,’ Shchetinin said. ‘At the same time, a reservation was made that the said right of the United States to defend the Panama Canal does not mean and should not be interpreted as the right to interfere in the internal affairs of Panama, and any actions by the American side will never be directed against the territorial integrity or political independence of Panama.’

Trump has been critical of the agreement and said previously it was a ‘big mistake’ on Carter’s part.

‘The United States… spent more money than was ever spent on a project before and lost 38,000 lives in the building of the Panama Canal,’ Trump said at his inaugural address on Monday.

‘We have been treated very badly from this foolish gift that should never have been made. And Panama’s promise to us has been broken. The purpose of our deal and the spirit of our treaty has been totally violated.’

‘American ships are being severely overcharged and not treated fairly in any way, shape or form, and that includes the United States Navy. And above all, China is operating the Panama Canal. And we didn’t give it to China, we gave it to Panama, and we’re taking it back.’

The canal’s administrator, Ricaurte Vásquez, said this month that China is not in control of the canal and that all nations are treated equally under a neutrality treaty.

The 51-mile maritime trade route uses a series of locks and reservoirs to cut through the middle of Panama and connect the Atlantic and Pacific. The United States built the canal in the early 1900s as it looked for ways to facilitate the transit of commercial and military vessels between its coasts.

The canal spares ships having to sail around Cape Horn at South America’s southern tip, saving it a roughly 7,000-mile journey. 

Panama President José Raúl Mulino issued a statement rejecting Trump’s comments and said, ‘The Canal is and will continue to be Panama’s and its administration will continue to be under Panamanian control with respect to its permanent neutrality.’

‘There is no presence of any nation in the world that interferes with our administration,’ he added, taking issue with Trump’s suggestion that the U.S. ‘gave’ the canal to Panama.

‘Dialogue is always the way to clarify the points mentioned without undermining our right, total sovereignty and ownership of our Canal,’ Mulino said. 

Fox News’ Caitlin McFall and The Associated Press contributed to this report. 


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Oversupply and shifting battery chemistries are set to define the cobalt market in 2025. Prices -subdued by excess supply since 2023- are expected to remain stable, with limited volatility.

The rise of lithium iron phosphate (LFP) batteries, particularly in China, continues to suppress demand for cobalt chemicals, challenging sulphate refiners.

Meanwhile, Indonesia’s rapid expansion in mixed hydroxide precipitate (MHP) production offers an alternative to the Democratic Republic of Congo’s (DRC) dominance, though the DRC is expected to remain the primary producer in the near to medium term.

Projected demand growth

Critical minerals have become a key focus of several nations looking to secure their energy transition efforts and fortify domestic supply chains. The cobalt sector’s production concentration in the Democratic Republic of Congo (DRC), makes it even more prone to geopolitical upheaval.

According to the International Energy Agency’s (IEA) 2024 Global Critical Minerals Outlook, the cobalt market has a heightened geopolitical risk rating because 84 percent of production is focused in a singular country.

Despite the current glut, the IEA is also projecting that demand will soar from 213,000 metric tons in 2023, to 344,000 metric tons in 2030 and 454 metric tons in 2040.

This steep uptick has also prompted the IEA to project a potential 16 percent shortfall by 2035.

Although countries like Indonesia and Australia are starting to see growth in their cobalt sector, the DRC will continue to be the dominant player.

“The DRC is going to maintain its position for the foreseeable future, however, Indonesian MHP is rapidly growing as an alternative source of cobalt in the market. In line with this, we’ve seen an influx of cobalt metal from Indonesia becoming more prevalent in recent months, being aggressively marketed by Indonesian producers,” said Aubry.

However, a lack of expansion in the DRC’s cobalt production segment could lead to Indonesia capturing a larger piece of market share this year.

“With CMOC (OTC Pink:CMCLF,SHA:603993) not planning any new expansions this year, it is unlikely we’ll see any significant growth from the DRC in cobalt production in 2025,” he added.

Not only will mined supply be crucial in meeting the IEA’s cobalt growth forecast, refinement capacity will also play an important role.

Australia’s Cobalt Blue (ASX:COB) advanced plans for the Kwinana Cobalt Refinery near Perth, proposing an initial production capacity of 3,000 tonnes per annum (tpa) of cobalt sulphate and approximately 500 tpa of nickel metal. Construction is slated to commence in the first half of 2025, with completion expected within 12 months.

Changing battery chemistries threaten cobalt’s demand outlook

In 2024, record-breaking global EV sales helped solidify cobalt’s critical role in the energy transition. With China spearheading a 40.7 percent surge in EV and hybrid adoption, supported by aggressive pricing and subsidies.

China remained the largest growth market as domestic automakers outpaced foreign rivals.

European sales rebounded from early-year setbacks, with stricter emission penalties set to drive further adoption in 2025.

Despite US market uncertainties, growing EV demand globally will sustain cobalt’s importance, although supply chain challenges and alternative battery technologies may influence its trajectory.

“As LFP becomes increasingly dominant in China, sentiment for cobalt chemicals used in batteries has turned more bearish,” Aubry said. “A downturn in demand may put sulphate refiners under additional pressure, particularly at a time where the current market dynamics already present significant challenges due to prices.”

Rising copper and nickel production bolsters cobalt glut

Another factor that could lead to additional cobalt surpluses is the production correlation with copper and nickel.

A November 2024 Fastmarkets report noted that 76 percent of global cobalt supply comes from copper/cobalt mines in the DRC. The by-product status exposes cobalt to the market dynamics in the copper space.

In 2024 copper production in the region was on the rise to facilitate the energy transition, which in turn weighed on the cobalt market.

“But with cobalt demand remaining decidedly sluggish, copper’s upward trajectory will continue to fuel cobalt oversupply and, combined with the fact that copper production is poised to expand further, this will keep cobalt prices under pressure,” the Fastmarkets report read.

A similar picture is also playing out in Indonesia where cobalt is mined as a byproduct of nickel.

Indonesia’s rise as a cobalt powerhouse is poised to reshape the market, fueled by its booming mixed hydroxide precipitate (MHP) production.

In 2024, the country supplied 10 percent of global cobalt, up from 7 percent in 2023, driven by Chinese-backed investments in nickel laterite ore projects using high-pressure acid leach (HPAL) technology.

Despite weak nickel prices, these projects are ensuring long-term cobalt output growth, with MHP-derived cobalt production projected to rise 17 percent in 2025. Producers are increasingly favoring cobalt metal over sulfate due to higher profitability and easier storage.

Additionally, cobalt from Indonesia may also be immune to US tariffs.

Indonesia’s cobalt metal could potentially enter the US market tariff-free, unlike Chinese cobalt, which faces a 25 percent import tariff,” Fastmarkets reported. “That possibility could raise concerns about shifting global supply dynamics and increase the pressure on cobalt prices.”

Due to these factors Fastmarkets is expecting a continued surplus of 21,000 metric tons in 2025 a slight decrease from 2024’s glut of 25,000 metric tons.

Increased copper and nickel production is driving this trend, but challenges loom. Weak nickel pricing, driven by Indonesia’s rapid growth, is squeezing producers in higher-cost regions like Australia and Canada, threatening project viability.

Meanwhile, geopolitical tensions, trade barriers, and a strong US dollar could further disrupt cobalt flows, especially from Chinese-backed Indonesian operations.

The market’s trajectory will depend heavily on economic conditions, trade dynamics, and evolving technologies, the report concluded.

Ethical supply concerns

As the global mining sector faces increased scrutiny for its extraction practices, the DRC’s cobalt industry has proven to be a focal point for sustainability and social governance concerns.

Child labour at artisanal and small scale cobalt mines in the country has drawn international attention and prompted the US Department of International Labour to establish the Combatting Child Labor in the Democratic Republic of the Congo’s Cobalt Industry (COTECCO program.

In its six years the project has trained 458 stakeholders from government, civil society, and private sectors on combating child labor and introduced tools like ILAB’s Comply Chain to 28 mining entities in Lualaba and Haut-Katanga.

While these are moves in the right direction, the long running attention the DRC’s cobalt sector has faced could be a deterrent to new capital.

“Alternatives to the DRC are likely to become more attractive to investors if it can sidestep other potential pitfalls, such as high refining energy costs. Until a more sustainable supply chain is embedded, or there are more substantial regulations implemented to limit the prevalence of artisanal mining, prices are unlikely to see a premium for sustainably sourced cobalt in the immediate term,” said Aubry.

Trump’s tough tariff talk

Although Indonesian supply may be exempt from current US trade rules, that could change in the near term.

The re-election of President Donald Trump has introduced significant uncertainty into the cobalt market, particularly concerning the future of electric vehicle (EV) policies and potential trade measures.

Market participants have expressed concerns that President Trump may reverse existing EV legislation, notably the Inflation Reduction Act (IRA), which has been instrumental in channeling approximately US$312 billion into US EV production and infrastructure.

President Trump has previously indicated intentions to ‘end the electric vehicle mandate on day one,’ aiming to ‘save the auto industry from complete obliteration.’

Despite these statements, the proliferation of EV manufacturing facilities in predominantly Republican states suggests that any policy reversals could face resistance due to the economic benefits these projects bring to local communities.

Additionally, the possibility of imposing stricter tariffs on Chinese-origin cobalt and EVs is a concern among market watchers and participants.

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

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The broad graphite market faced continued price pressure in 2024, as supply and demand trends diverged pushing natural graphite into deficit.

As the year progressed slower than forecasted end use segment demand, production uncertainty and moderate investment in capacity growth outside of China remained the dominant market themes.

A late year recovery in global electric vehicle sales and a positive long term demand outlook have positioned the graphite market for a mild recovery in 2025. However, with China dominating global supply, geopolitical tensions, export restrictions, and policy changes could quickly alter the landscape.

Due to the less geographically concentrated nature of the synthetic graphite market it is less exposed to Chinese disruption.

“Although synthetic graphite producers are better off, natural graphite anode producers are almost completely reliant on China, so there’s a lot of concern around this at the moment,” he added.

Even though Willoughby doesn’t foresee China limiting exports, incoming rules on US imports are adding pressure on North America to grow its domestic supply chains.

“While we expect China to continue to allow battery-related exports, companies are looking to diversify their supply to reduce the risk,” he said.

Willoughby continued: “On top of this, there is a need to shift away from China for the US battery supply chain. The Inflation Reduction Act (IRA) specifies that by 2027, any batteries that contain graphite from China won’t be eligible for substantial tax credits. While it’s not clear which of these will remain under the new administration, we expect the requirements for non-Chinese material to continue.”

Graphite market facing dual supply challenges

Natural graphite production ballooned in 2022 when global mined supply reached 1,680,000 metric tons, a 73.9 percent increase from 2020’s 966,000 metric tons.

Global output registered a small 4.6 percent decline in 2023 totaling 1,600,000; however, the reduction was enough to send the market into deficit.

According to Tony Alderson senior analyst for Benchmark Mineral Intelligence the shortfall has been attributed to rising demand from the battery anode segment.

“EV demand is set to rise by nearly 400 percent over the next decade. As such, the need for both natural and synthetic graphite is rising notably in line with this,” Alderson wrote in an email. “With regards to this increased demand, the natural graphite balance is already not holding up with a 2024 deficit of nearly 150,000 metric tons per annum (tpa) emerging.”

Conversely the synthetic graphite market is experiencing a supply glut.

“On the side of synthetic graphite, it is fairing a little better when talking about the market balance as supply is stronger. The market is in a notable oversupply of 350,000 tpa, which is set to reach a deficit beyond the end of the decade,” he explained. “One of the reasons for this chemistry disparity is due to the greater supply and ease of building a facility in a far less time period than with natural.”

Although the 2025 supply narrative is different, the future of both markets looks similar, Alderson noted.

“Despite this, the currently announced supply is simply not enough to meet the forecasted demand out to 2034, with both [segments] reaching deficits of over 600,000 tpa which are only set to widen out to 2040,” he said.

In a 2022 report from Benchmark it is noted that some 300 new mines are needed to support the energy transition, a percentage of which will need to be graphite mines.

“We forecast battery sector demand for raw material graphite to rise by more than 1,400 percent between 2020 and 2050,” the report read. “By the end of the forecast period, total graphite demand could be three times the 2021 supply level.”

Shifting battery chemistries complicate forecast

Use in the EV sector is underpinning graphite demand, however as battery chemistries continue to shift market supply and demand fundamentals could also change.

The rapid evolution of battery chemistries has posed significant challenges. While the shift in cathode materials from nickel ternary (NMC) to lithium iron phosphate (LFP) in China has garnered much attention, similar transformations are also occurring within the anode market, explained Willoughby.

“China now primarily uses synthetic graphite anode materials as it’s faster to build out new production and easier to get the raw materials,” he said. “However, that has led to a massive oversupply for synthetic due to the number of new companies in the market, and in the natural [graphite market] demand has really fallen away in the last year.”

While NMC cathodes and natural graphite anodes are still quite popular outside of China, slower demand growth in 2024 has seen many of the major anode producers cut back output, he added.

Looking more long-term, Willoughby admitted the market could become opaque.

“It’s been a challenge to keep the ever-evolving supply and demand dynamics in check, particularly when the market has to increasingly consider regional regulations like the Inflation Reduction Act,’ he said. “We see China continuing to operate at a surplus over the next decade because of its existing capacity, but the rest of the world still looks to need more capacity for both natural and synthetic anodes if it wants to meet its own demand.”

This position was reiterated by Benchmark Intelligence’s Alderson who referenced the mounting geopolitical tensions between the East and West as a pain point in the long-term ex-China market buildout.

“China dominates not only natural graphite production (76 percent) but also downstream markets, controlling 79 percent of natural graphite anode and 98 percent of synthetic graphite anode supply globally,’ he said. “This highlights that the deeper into the supply chain you go, the more entrenched China’s dominance becomes. They form the backbone of the anode supply chain, and it will be a challenge for the West to break.”

Alderson pointed to China’s December 3, 2024, implementation of an immediate ban on dual-use exports intended for US military applications, along with heightened end-use reviews for exports like graphite to the US.

Building a North American supply pipeline

To offset Chinese control, the US has taken notable steps to onshore supply.

“Since the US IRA’s announcement in August 2022, over 500,000 tpa of anode capacity has been added, over a 200 percent+ increase,” said Alderson.

This move has been supported by government funding.

In November, 2023 South Star Battery Metals (TSXV:STS,OTCQB:STSBF), received a US$3.2 grant from the Department of Defense (DoD) under the IRA to advance its flagship BamaStar graphite project in Alabama.

Similarly, Graphite One’s (TSXV:GPH,OTCQX:GPHOF) Alaska-focused subsidiary was the recipient of a US$37.5 million DoD grant in July of 2023, to cover costs associated with “accelerated Feasibility Study” on its name sake project.

In September of the same year, the company penned a US$4.7 million contract with the DoD’s Logistics Agency to develop a graphite and graphene-based foam fire suppressant as an alternative to incumbent PFAS fire-suppressant materials, as required by US law.

“Private companies are also ramping up onshoring efforts by inking offtake agreements with U.S. anode producers, setting a record in 2024 for such deals,” said Alderson.

“Despite these advancements, North America faces a 200,000 tpa market deficit in 2024, expected to grow as EV demand accelerates. As such, notable investment will be required to drive growth and achieve any form of self-sufficiency,” he added.

As new North American supply becomes imperative, the sole continental producer Northern Graphite (TSXV:NGC,OTCQB,FRA:0NG), faced challenges in the low-price environment of 2024.

“While we are also moving forward to open a new pit at the Lac des Iles (LDI) and restart the plant at a higher throughput in January to meet rising demand, unless we can see our way through to higher prices, long-term supply agreements with battery makers and support from governments in Ontario, Quebec, Canada and/or the United States, the Company will continue to struggle whilst these challenging market conditions prevail for ourselves and the rest of the industry,” Chief Executive Officer Hugues Jacquemin said in the Q3 update.

To aid in offsetting these pressures, Northern Graphite was able to negotiate a price increase with its customers in early January to mitigate inflation and higher production costs.

Trends to watch in 2025

As 2025 progresses both market experts offered insight on which trends could be the most impactful to the market.

“We’re expecting more bifurcation of the China and ex-China markets,” said Wood Mackenzie’s Willoughby.

“In 2024, we saw domestic Chinese prices sink much more rapidly and to a greater extent than export prices,” he said. “We expect them to remain low in 2025, but for US and European benchmarks to begin to climb again as the shift away from China as their major supplier creates tightness in that market.”

The sheer volume needed in the North American market is likely to provide price insulation for graphite produced outside of China.

“Given the relative lack of ex-China mines, new production isn’t expected to dent this outlook too much,” he added.

For Alderson, volatility will reign supreme in the first half of 2025.

“Excess inventory overhang of battery-grade -100 mesh is expected to sustain high supply levels through 2025 despite forecasted reduction in production costs within the Chinese market,” he said. “Consequently, prices are forecasted to decline further in H1 2025, averaging US$413 per metric ton, down 22 percent year-over-year.”

He sees more stability materializing in the latter half of the year.

“In H2 2025, prices are set to recover moderately as inventories shrink and stock levels normalise with China’s overall production experiencing a gradual recovery,” he said. “However, ongoing competition from synthetic graphite for battery end use applications, will likely cap price growth.”

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

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