Canada is preparing to unveil a multibillion-dollar uranium export agreement with India, marking the strongest sign yet that the two countries are rebuilding ties after a two-year diplomatic freeze.
Two people familiar with the negotiations revealed that the deal, valued at roughly US$2.8 billion, would run for up to a decade and position Canadian producer Cameco (TSX:CCO,NYSE:CCJ) as a long-term supplier to India’s expanding nuclear power sector.
The final terms are still being refined, the sources cautioned, but the agreement is expected to be announced in the coming days.
The deal, if it pushes through, would form part of the formal attempt of both parties to revive economic cooperation after a period of political strain.
This culminated last weekend in a decision by Prime Minister Mark Carney and Indian Prime Minister Narendra Modi to restart long-stalled trade talks. The former has also accepted the latter’s invitation to visit India in 2026.
Both leaders signaled their intention to pursue a comprehensive economic partnership as they seek alternatives to increasingly unpredictable US trade policy.
According to two sources, the new agreement will not be a renewal but an entirely separate, larger commitment.
The pending export deal would go well beyond the countries’ previous uranium pact: a five-year, roughly US$350-million arrangement signed in 2015 that allowed India to buy Cameco uranium for civilian nuclear use.
In a recent press release, India’s Ministry of External Affairs also noted that “both sides reaffirmed their longstanding civil nuclear cooperation and noted the ongoing discussions on expanding collaboration, including through long-term uranium supply arrangements.”
India’s interest reflects its growing nuclear-power ambitions. The country operates about 25 reactors—many based on the Canadian-designed CANDU system—with six more under construction.
As electricity demand climbs and the government pushes to reduce carbon emissions, securing reliable uranium supplies has become a strategic priority for New Delhi. Expanded cooperation with Canada could also extend into small modular reactors, an area Ottawa has been promoting as part of its clean energy strategy and transition.
For Canada, the deal furthers its goals of developing a stable domestic nuclear supply. The country is the world’s second-largest producer of uranium, responsible for about 13 percent of global output, and holds some of the highest-grade deposits in the world.
Nearly 85 percent of Canadian uranium is exported primarily from mines in northern Saskatchewan. The industry generates around US$800 million in annual economic activity and employs more than 2,000 people, including many Indigenous and northern workers.
The diplomatic significance of the deal is equally notable. Relations between Canada and India plummeted in September 2023 after then-prime-minister Justin Trudeau accused New Delhi of involvement in the killing of Canadian Sikh activist Hardeep Singh Nijjar, an allegation India rejected.
The allegations led to trade talks being suspended, and political contact between the two countries sharply diminished.
While Canadian authorities continue to investigate the matter, Carney has signaled that he wants to move economic relations forward, particularly as he seeks to diversify exports away from the US under President Donald Trump.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Silver Dollar Resources Inc. (CSE:SLV)(OTCQX:SLVDF)(FSE:4YW) (‘Silver Dollar’ or the ‘Company’) is pleased to report underground sample assay results and preliminary geologic modeling of existing high-grade drill results in support of an exploration and mining strategy shift from open pit to underground at its 100%-owned La Joya Silver (Cu-Au) Project (the ‘Property’) in the state of Durango, Mexico.
Figure 1: La Joya plan view showing mineralized areas and location of underground sampling.
A total of 16 channel samples were collected from the historic La Embotelladora mine workings, showing mineralization localized in ENE and NNE structural zones. Sample R-300 returned 2,753 grams per tonne (g/t) silver equivalent (AgEq) over 0.4 metres (m) representing the NNE trending zone. Sample R-291 returned 328 g/t AgEq over 0.4m representing the ENE structural zone (Table 1). These data combined with existing drilling results are aiding in the Company’s ongoing strategy of transitioning La Joya from an open pit to an underground project by confirming high grade mineralization localization in a network of prospective structures. Ongoing geologic modeling will focus on validating this thesis through re-focused exploration planning.
Photo 1: Underground sampling of the historic La Embotelladora Mineworkings.Figure 2: Plan view showing recent channel sample assay results and existing drilling results.
Sample ID
Width (m)
Ag g/t
Au g/t
Cu g/t
Pb g/t
Zn g/t
AgEq g/t
R-289
0.4
2
0.0
387
26
171
6
R-290
0.6
5
0.3
464
17
158
21
R-291
0.4
166
0.2
23,110
43
153
328
R-292
1.1
11
0.1
1,900
14
186
26
R-293
0.7
4
0.4
606
13
145
23
R-294
0.6
2
0.0
254
9
153
5
R-295
0.6
2
0.1
448
9
163
7
R-296
0.85
5
0.1
457
369
1,620
13
R-297
0.8
5
0.1
689
292
4,440
18
R-298
0.3
1
0.1
367
11
156
6
R-299
0.85
26
0.0
2,160
20
204
41
R-300
0.4
1,800
0.6
139,860
1,340
4,550
2,753
R-301
0.95
148
0.1
13,870
36
234
244
R-302
0.32
34
0.5
416
15
129
57
R-303
0.4
9
1.1
460
4
182
54
R-304
0.26
3
0.2
549
58
364
15
Table 1: Assay results from underground sampling campaign.
Silver equivalent is calculated using the following metal prices in USD: Au $1,750/oz, Ag $22/oz, Pb $1.25/lb, Zn $1.50/lb, Cu $4.30/lb. Recoveries of Au 66%, Ag 93%, Pb 87%, Zn 84%, Cu 70% historically reported from Pan American Silver’s La Colorada mine and Southern Silver’s Cerro Minitas mine (Cu only) have been used in the AgEq calculation, and are assumed to be comparable to anticipated recoveries at La Joya.
Figure 3: La Joya preliminary numerical model of AgEq trended to apparent E-W structural network.
Silver Dollar has also completed preliminary numerical modeling of existing drillhole assay data to identify additional high-grade mineralization. Numerical models were trended using preliminary vein modeling, which focused on a series of emerging E-W trends. Ongoing geologic modeling will incorporate other local trends, including a NNE structural trend, and the impact of stratigraphic-structural intersections on plunging mineral trends.
‘With silver, copper, and gold prices all reaching record highs this year, it’s an opportune time to re-conceptualize La Joya from a new underground perspective,’ said Greg Lytle, President of Silver Dollar. ‘The goal of our geological modeling is to assess La Joya’s underground potential based on a compilation of all historical data, consider hypothetical underground mining methods, and identify high-priority exploration targets to add value to the Project.’
Procedure, quality assurance/quality control and data verification:
All rock samples were collected, described, photographed, and bagged on-site. The samples were delivered by Silver Dollar staff to ActLabs in Zacatecas, Mexico for analysis. ActLabs is ISO 9001:2015 certified. Rock samples were crushed, pulverized and screened to -80 mesh at the lab, prior to analysis. Gold is analyzed by a 30g Fire Assay with AA (atomic absorption spectroscopy) finish, then gravimetric finish if greater than 10ppm Gold. Silver and 34 other elements were analyzed using a four-acid digestion with an ICP-OES (Inductively Coupled Plasma Optical Emission spectroscopy) finish. Silver, lead, zinc, and copper over limits were re-assayed using an ore-grade four-acid digestion with ICP-AES (Inductively coupled plasma atomic emission spectroscopy) finish. Control samples comprising certified reference samples and blank samples were systematically inserted into the sample stream and analyzed as part of the Company’s quality assurance and quality control protocol.
About the La Joya Property:
La Joya is an advanced exploration stage property consisting of 15 mineral concessions totaling 4,646 hectares and hosts the Main Mineralized Trend (MMT), Santo Nino, and Coloradito deposits.
The previous operator, Silvercrest Mines, released a Preliminary Economic Assessment (PEA) NI 43-101 Technical Report on the La Joya Property in December 2013. The PEA included a mineral resource estimate (MRE) on the MMT and Santo Nino deposits (See Historical MRE Table) that was based on 89 holes totaling 30,085 m of Silvercrest’s drilling between 2010 and 2012 (See Historical MRE Model). The MRE was reported to conform to CIM definitions for resource estimation; however, a qualified person of Silver Dollar has not done sufficient work to classify the historical resource, and the Company is not treating it as a current mineral resource. Independent data verification and an assessment of the mineral resource estimation methods are required to verify the historical mineral resource.
The Property is situated approximately 75 kilometres southeast of the Durango state capital city of Durango in a high-grade silver region with past-producing and operating mines, including Silver Storm’s La Parrilla Mine, Industrias Penoles’ Sabinas Mine, Grupo Mexico’s San Martin Mine, Sabinas Mine, First Majestic’s Del Toro Mine, and Pan American Silver’s La Colorada Mine (Figure 4).
Figure 4: La Joya location and historical and operating mines in the area.
Dale Moore, P.Geo., an independent Qualified Person (QP) as defined in NI 43-101, has reviewed and approved the technical contents of this news release on behalf of the Company.
About Silver Dollar Resources Inc. Silver Dollar is a dynamic mineral exploration company focused on two of North America’s premier mining regions: Idaho’s prolific Silver Valley and the Durango-Zacatecas silver-gold belt. Our portfolio includes the advanced-stage Ranger-Page and La Joya projects, as well as the early-stage Nora project. The Company’s financial backers include renowned mining investor Eric Sprott, our largest shareholder. Silver Dollar’s management team is committed to an aggressive growth strategy and is actively reviewing potential acquisitions with a focus on drill-ready projects in mining-friendly jurisdictions.
For additional information, you can visit our website at silverdollarresources.com, download our investor presentation, and follow us on X at x.com/SilverDollarRes.
ON BEHALF OF THE BOARD
Signed ‘Gregory Lytle’
Gregory Lytle, President, CEO & Director Silver Dollar Resources Inc. Direct line: (604) 839-6946 Email: greg@silverdollarresources.com 179 – 2945 Jacklin Road, Suite 416 Victoria, BC, V9B 6J9
Forward-Looking Statements: This news release may contain ‘forward-looking statements.’ Forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this news release.
CIRO can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. CIRO is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.
SOURCE Canadian Investment Regulatory Organization (CIRO) – Halts/Resumptions
View original content: http://www.newswire.ca/en/releases/archive/November2025/25/c5121.html
In one corner of the world, the U.S. is trying to end a war. In another, it may be preparing to start one.
While Washington pushes proposals aimed at easing Russia’s terms for a cease-fire with Ukraine in Europe, it’s taking a far tougher stance in the Western Hemisphere — moving to label Venezuela’s military-linked Cartel de los Soles a terrorist organization and quietly expanding its military footprint in the Caribbean.
Sporadic strikes on alleged cartel boats off Venezuela’s coast have grown into the largest U.S. military presence in Southern Command’s area in a generation, with the world’s biggest aircraft carrier, the USS Gerald R. Ford, steaming toward the Caribbean Sea. President Donald Trump has reportedly approved CIA covert measures inside Venezuela — operations that often precede military force — and U.S. planners have already drawn up target lists for cartel sites, according to The New York Times.
Many believe the U.S. could soon launch direct strikes on Venezuelan territory aimed at pushing Nicolás Maduro out of power.
At the same time, a top Russian commander, Colonel General Oleg Makarevich, has been reassigned from the Ukrainian front to head Russia’s Equator Task Force in Venezuela, overseeing roughly 120 troops training Venezuelan forces, Ukrainian intelligence chief Lt. Gen. Kyrylo Budanov told The War Zone. Fox News Digital has not independently verified Budanov’s claim.
Seth Krummrich, a retired U.S. Army colonel and vice president at Global Guardian, said Russian military advisers are indeed operating inside Venezuela but doubted Moscow would back Maduro militarily. ‘They’re there, full stop,’ Krummrich said. ‘But Russia needs to stop the massive blood-letting of its young men in Ukraine. They’re not going to go toe-to-toe with us militarily.’ He added that the relationship is long-standing: ‘There is a long history of Russian military advisers in Cuba and in Venezuela that goes on for decades.’
Many in Washington see a strategic payoff in forcing out Maduro: it would strip Russia of its last firm foothold in the Western Hemisphere — a loss comparable, in some analysts’ view, to Moscow’s waning influence in Syria. ‘Venezuela, for the longest time, has been a launch pad for Chinese, Russian, and Iranian influence in the Western Hemisphere,’ Krummrich said. ‘These chess pieces are all tied together when you arch your great-power competition.’
Other experts caution against assuming the U.S. escalation in Venezuela and its peace overtures in Europe are part of a single coordinated plan. Ryan Berg, director of the Americas Program at the Center for Strategic and International Studies (CSIS), spoke with Fox News Digital and said any overlap may be more coincidence than strategy.
‘We’ve been zigging and zagging in Venezuela,’ Berg said. ‘Trump has gone back and forth between build-ups and calls for dialogue, while the Russia timeline has only recently become parallel to these events. Anything that looks coordinated is likely coincidence.’
Berg recalled that during Trump’s first administration, some advisers floated an ‘Ukraine-for-Venezuela’ concept — asking Russia to relinquish its stake in Caracas in exchange for U.S. concessions in Eastern Europe — but the idea was quickly abandoned. ‘Russian power in Venezuela is important,’ Berg said, ‘but it’s not so overwhelming that it’s the reason Maduro survives.’
Russia’s footprint in Latin America has grown only modestly since the early 2000s, dwarfed by China’s economic expansion. Moscow’s closest partners remain Cuba, Venezuela, and Nicaragua. Beyond them, its influence is exercised mainly through media and selective economic pressure.
‘If you look at Russia’s trade profile with the region, it’s small,’ Berg said. ‘But Moscow is very good at using those few trade points for leverage.’
He cited examples: when Ecuador considered sending old Russian-made equipment to Ukraine in exchange for U.S. military aid, Russia threatened to block Ecuadorian banana exports — nearly $1 billion annually — by imposing new phytosanitary checks. The deal collapsed within a week.
Similarly, Moscow has kept Brazil and Argentina largely muted on the Ukraine invasion by leveraging its control over nitrate fertilizer exports, crucial to both agricultural giants. ‘They use whatever levers they have — bananas, fertilizer, spare parts — to coerce quietly,’ Berg said.
Russia also continues to service aging equipment across the region. ‘They sell a lot of kit here,’ Berg added. ‘Many countries still operate Russian-origin systems that need maintenance and parts. That creates dependency.’
If U.S. forces strike Venezuelan targets, most observers expect Russia to limit its response to intelligence sharing and disinformation, not combat support. ‘The Russians are pretty tied down in Ukraine,’ Berg said. ‘We saw during the 12-day war, when Iran appealed for help, Moscow stayed silent. They simply don’t have the capacity.’
Berg described a recent episode in which a sanctioned Ilyushin cargo plane landed in Caracas. Russian lawmakers briefly claimed it carried air-defense systems and technicians to assist Maduro, but Foreign Minister Sergei Lavrov later denied it. ‘He essentially said, ‘We have no mutual-defense treaty,’’ Berg noted. ‘That was widely read as: we’re not coming to Venezuela.’
John Hardie, deputy director of the Russia Program at the Foundation for Defense of Democracies, also spoke with Fox News Digital and said there is little evidence of a coordinated link between the U.S. buildup in the Caribbean and Washington’s peace overtures in Europe. ‘I don’t see any immediate connection,’ Hardie said. ‘Russia’s ability to influence events in Venezuela is pretty limited.’
He said Moscow’s power-projection capacity in the Western Hemisphere remains constrained. ‘They can take limited action — fly some bombers into the region, sail submarines to Cuba — but major operations in Latin America are beyond their capacity,’ Hardie said.
Hardie also noted reports of the Russian Ilyushin transport aircraft visiting Venezuela and suggestions it could have carried air-defense systems, but said any such transfer would have little strategic effect. ‘Even if Russia slipped in some air defenses, it wouldn’t make much difference,’ he said. ‘The Venezuelan military would still be heavily overmatched by the United States.’
Both Krummrich and Berg agree that momentum is building toward U.S. kinetic action. Berg said indications point to possible strikes between Thanksgiving and Christmas, as U.S. naval and intelligence assets align and Trump signals impatience with Maduro’s attempts to stall.
‘Maduro’s instinct is to buy time — that’s what’s kept him afloat through multiple administrations,’ Berg said. ‘But Trump wants results, not a two-year transition or vague promises about U.S. oil access. The question is what Maduro can offer that will actually satisfy him.’
Whether this two-track moment represents coincidence or coordination, the stakes are high. A peace framework in Europe could stabilize one front while a new flashpoint ignites closer to home — underscoring the paradox of Washington’s posture in late 2025: seeking de-escalation abroad while bracing for confrontation in its own hemisphere.
The far-left push within the Democratic Party, highlighted by mayoral victories by socialist candidates in New York City and Seattle, is poised to be a major factor in several key battleground House races as several candidates carrying the progressive mantle hold strong positions in Democratic primaries.
Several of the most competitive House races in the country feature candidates putting to the test whether progressive policies can appeal to voters outside deep blue urban centers, including in California’s 22nd Congressional District, where Democrat Randy Villegas is running to unseat Republican Rep. David Valadao.
‘Bernie and I share the same goal: to make life more affordable for working families,’ Villegas said in a statement after being endorsed by Sen. Bernie Sanders, I-Vt., a self-described ‘democratic socialist.’
‘He has dedicated his life to putting power in the hands of ordinary Americans instead of the ultra-rich, and I’m excited to work together to fight for our communities here in the Central Valley and across the country.’
In addition to being endorsed by Sanders, who endorsed New York City Mayor-elect Zohran Mamdani, Villegas has employed the Fight Agency advertising firm, among others, which is led by operatives who also helped Mamdani cruise to victory earlier this month.
Fox News Digital reported this week that Fight Agency is also working to defeat two vulnerable House Republicans in Pennsylvania, Reps. Rob Bresnahan and Ryan Mackenzie.
Villegas, endorsed by the progressive Working Families Party that endorsed Mamdani, is currently running in a Democratic primary against California state Assemblywoman Jasmeet Bains, who was recruited by the Democratic Congressional Campaign Committee (DCCC) and currently is sitting on less cash on hand than Villegas.
‘Here in the Central Valley, we couldn’t care less about political labels,’ Villegas said in a statement to Fox News Digital. ‘We care about being able to see a doctor without going bankrupt and being able to feed our families without needing a second job. We’re sick of politicians in both parties selling us out to billionaires and corporations. Any politician who isn’t fighting for working families like our lives depends on it needs to get out of the way.’
In Colorado’s 8th Congressional District, GOP Rep. Gabe Evans is being challenged by another progressive Democrat, Manny Rutinel, in what is expected to be one of the tightest House races next November.
Rutinel, who serves as a Colorado state representative, who was reportedly spotted alongside Mamdani and holds a large fundraising lead over his Democrat opponents, has associated himself with a variety of far-left groups and politicians, including Rep. Ilhan Omar, D-Minn., Townhall reported.
Rutinel has been endorsed by progressive groups like CHC Bold PAC and Latino Victory Fund.
The race to unseat GOP Rep. Darrell Issa in California’s redrawn 48th Congressional District features Democrat Ammar Campa-Najjar, who describes himself as a ‘working-class progressive’ and was endorsed by the Sanders-linked group Our Revolution.
Campa-Najjar, who volunteered for Sanders’ 2016 presidential campaign and appears to be the front-runner in the Democratic primary, was endorsed in 2020 by the Working Families Party as well as Democrat Rep. Alexandria Ocasio-Cortez’s Courage to Change PAC.
GOP Rep. Tom Barrett is up for re-election in Michigan’s 7th Congressional District, and one of the Democrats running to replace him is William Lawrence, who co-founded the progressive Sunrise Movement.
Lawrence’s policies have drawn comparisons to Mamdani, including from the Lansing City Pulse, who wrote that his ‘campaign is built on a community movement, a message of ‘real representation’ that takes ‘political control away from the establishment and puts it back in the hands of the people.’ It’s like how Zohran Mamdani won in New York City.’
Peter Chatzky is running as a Democrat challenging GOP Rep. Mike Lawler in New York’s 17th Congressional District, and although he is running in a crowded primary, he has the ability to self-fund and is viewed as a formidable contender in a district ranked by Cook Political Report as ‘Lean Republican.’
Chatzky has defended Mamdani’s agenda on social media and praised the young socialist for running ‘an effective campaign that consistently focused on affordability, fairness, and opportunity in New York City.’
Chatzky, the only Democrat in the field who has called for Senate Minority Leader Chuck Schumer to step down, has expressed support for ‘universal healthcare.’
Like Mamdani, Chatzky has also faced criticism for his positions on Israel and defended Mamdani against allegations of antisemitism.
In Nebraska, John Cavanaugh, a state senator, is running as a Democrat to replace retiring GOP Rep. Don Bacon in the 2nd Congressional District with the endorsement of the Congressional Progressive Caucus, which he said he is ‘grateful’ for and that he plans to join them on the ‘front lines.’
As Democratic leadership in Washington, D.C. begins to face calls for new faces, Republicans across the country have made the argument that the socialist push in recent months is reshaping key House races and changing the landscape of the way the Democratic Party operates going forward.
Mike Marinella, national spokesperson for the National Republican Congressional Committee (NRCC), told Fox News Digital the rise of progressive candidates is a ‘full-blown battle for the soul of the Democrat Party’ and concluded that the ‘socialist stampede is winning.’
‘Democrats aren’t focused on helping working families, they’re too busy tearing each other apart.’
In a statement to Fox News Digital, DCCC spokesperson Viet Shelton touted the Democrats across the country who are focusing on affordability.
‘Because of House Republicans, everything is too damn expensive and working families are struggling. Republican operatives in D.C. know they can’t win on the issues, so we’re seeing them melt down in real time,’ Shelton said.
‘Even President Trump is in the Oval Office desperately bear hugging the Mayor-elect. It’s embarrassing. While they waste their time, Democrats across the country are laser focused on lowering prices and fighting for everyday Americans, which is why we will re-take the majority.’
A pair of major North American solar companies, including one touted by Senate Democrats in 2023, could face scrutiny over their ties to China.
While the feds have created barriers to Chinese firms flooding the solar market, many have found ways to localize operations in the U.S. or North America in a manner that allows for public investment and even deferential press coverage at times.
After then-President Joe Biden signed the Inflation Reduction Act, Senate Democrats praised the law for its substantive investments in ‘green’ energy, including solar. One company that received top billing was an Ontario-based firm that was founded by a Chinese entrepreneur and keeps much of its assets in China.
‘The Inflation Reduction Act is already paying huge dividends for the American people,’ blared a topline from Senate Democrats in 2023 after investments were being made in several companies.
The release cited a Reuters report that Canadian Solar – based in Guelph, Ontario, but founded by Qu Xiaohua and with its main operating arm listed on Shanghai’s SciTech board – committed to $250 million to a 5GW module facility in Texas after the IRA took effect.
Trina Solar North America president Steven Zhu boasted to China Daily, a Chinese state-run propaganda outlet, that the project represents ‘a significant investment in American manufacturing that will bolster the U.S. solar market in addition to positioning Texas as a leader in the transition to a sustainable future.’
Canadian Solar saw a 34% spike in its stock performance in the first half of 2022, according to a Benzinga analysis, which quoted company CEO Shawn Qu as saying he was ‘excited to see the [IRA] in the U.S. coming into effect.’ The report said ‘alternative energy companies’ like Canadian Solar stood to get a leg up thanks to about $370 billion in subsidies from the IRA.
A 2025 company filing with the Securities & Exchange Commission (SEC) referenced that due to the company’s business in China, the CCP ‘may intervene or influence the operations of our PRC subsidies at any time’ and that the firm is ‘exposed to legal and operational risks associated with having a significant portion of our manufacturing operations in China.’
The Canadian-based company with a large Chinese manufacturing footprint – praised by Democrats – extends China’s state-backed dominance, yet can still qualify for IRA tax incentives meant for American allies – something that Congress has been focused on.
Rep. John Moolenaar, R-Mich., chairman of the House Select Committee on the CCP, recently sounded the alarm on companies affiliated with China that receive or are qualified for federal subsidies – including through Biden’s IRA.
Moolenaar previously focused on another Chinese firm called Gotion, telling The Midwesterner there are ‘about 30 tax credits’ in the law ‘Biden calls his Inflation Reduction Act [that] will go to companies who are manufacturing, in some way, green energy.’
Moolenaar’s ‘No Gotion Act’ would ensure no subsidies go to firms based in officially designated politically-concerned countries like China, Russia, North Korea and Iran.
He also inserted language in the 2024 funding bill for the Department of Energy that would prohibit the agency from awarding contracts to companies tied to the CCP.
Fox News Digital reached out to Moolenaar for additional comment.
Rep. Carlos Gimenez, R-Fla., chair of the House Homeland Security Transportation Subcommittee, said at the time that the U.S. cannot continue ‘ceding dominance over our critical supply chains to our greatest geopolitical rival.’
Gimenez, who was born in communist Cuba and fled to the U.S. as a child, said Western nations were too slow to recognize threats from Huawei and TikTok, and that doing business in China ensures the CCP will get a cut; ‘a steep cost.’
Canadian Solar had about 12,000 employees in China at the beginning of the year with less than 6,000 in the rest of the world combined.
The Coalition for a Prosperous America raised red flags in a report last year on Chinese dominance in the solar industry, and the fact that they’re largely kept afloat by ‘massive financial support’ from the Chinese government – with reports citing as much as Y1B ($140M) in subsidies in recent times.
Those subsidies, CPA argued, threaten all solar firms in the West.
In 2024, Trina Solar, then a subsidiary of a Chinese solar giant by the same name, forged an agreement to sell its Texas-based manufacturing assets to another U.S.-based but Chinese-tied company, which is now known as T1 Energy. Trina Founder Gao Jifan is also a Chinese National People’s Congress delegate.
Gao has several links to CCP-connected organizations, as a profile on the Chinese-controlled search giant Baidu lists several curriculum vitae, including a former vice president of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products – a semi-governmental trade association made up of representatives from several industrial and green-energy corporations like Huawei and Trina Solar.
More recently, in 2023, Gao was vice president of the China Association for the Promotion of Industry-Academic-Research Cooperation, a group under the auspices of the CCP’s Ministry of Science and Technology that connects research universities and manufacturing outfits in the fields of nanotechnology, material manufacturing and green energy.
On its homepage, T1 bills itself as ‘building domestic solar and battery supply chains to invigorate America with scalable, reliable, and low-cost energy,’ and saying that ‘America needs advanced manufacturing capacity to unlock our most scalable energy resources.’
Baidu noted Gao’s investment in a Texas solar module factory, saying he did so to ‘prevent the shipment of photovoltaic products from being blocked.’
T1 formed after FREYR Battery, a Norwegian firm, sold off its Texas assets to Trina Solar, which then rebranded the operation as T1 Energy after a restructuring – while FREYR focused on a separate Georgia operation.
T1 positions itself as an ‘integrated U.S. supply chain for solar and batteries,’ but remains largely dependent on Trina.
Earlier this month, T1 tweeted a video of robots at its Texas factory, saying that it produced 14MW of solar panels in one day and calling it ‘the path to American power.’
Trina Solar, the Chinese company, owns between 16-25% of T1, according to reports, allowing it a minimum of two board members. One member is reportedly a businessman who previously held a deputy directorship at the Chinese Development Bank, a financial powerhouse that helps fund China’s infamous Belt-and-Road Initiative.
A Caribbean-domiciled firm tied to the wife of a Trina executive also holds a stake in T1, potentially offering more Eastern control.
With T1 being a U.S. company eligible for tax credits under the IRA, the company benefits – but also its dependence on Chinese subsidy translates to a CCP-tied firm benefiting from American money.
In Canadian Solar’s case, critics have considered the branding and international dynamic to be geopolitical camouflage, suggesting to Western governments the company is one of their own.
The overall dynamic is one that again depicts China’s persistence in circumventing or manipulating U.S. defenses in various situations, this time in business and investments.
Chinese companies often collaborate on joint transpacific ventures and keep their equity stakes just under the proportion that triggers federal restrictions as a ‘Foreign Entity of Concern’ (FEOC).
Fox News Digital reached out to Trina Solar and Canadian Solar for comment.
Fox News Digital’s Cameron Cawthorne contributed to this report.
The longest federal shutdown in US history has created deep gaps in the flow of economic data, preventing calculation of the Business Conditions Monthly indices. Most BCM components depend on federal statistical agencies, including the US Bureau of Labor Statistics, Census Bureau, Bureau of Economic Analysis, and the Federal Reserve, that were unable to collect, process, or publish October 2025 data. As a result, critical indicators such as payroll employment, labor force participation, consumer price index, industrial production, housing starts, retail sales, construction spending, business inventories, factory orders, personal income, and several Conference Board composites remain unavailable or were published without the sub-series needed for BCM methodology. Agencies have already confirmed that several October datasets were never collected and cannot be reconstructed. And while a handful of private and market-based measures (University of Michigan consumer expectations, FINRA margin balances, heavy truck sales, commercial paper yields, and yield-curve spreads) continued updating normally, the BCM cannot be produced unless all 24 components are available for the same month; missing even one Census or BLS series renders the entire month unusable.
Because the October data will not be produced, that month is permanently lost for BCM purposes. The indices can resume only once federal agencies complete their post-shutdown catch-up work and release full, internally consistent datasets for the next available month in which all 24 BCM components exist. Even once resumption begins, calculations based on the first complete month may reflect a gap that renders that initial reading economically suspect. Based on current release schedules, the earliest realistic timeframe for restoring the BCM is early 2026, once a complete set of post-shutdown data is again available.
This new data void is a graphic illustration of how short-term, error-prone, and erratic US economic policy has become, echoing earlier episodes such as the “transitory” miscalculation of 2021, the ruinous and clumsily-handled pandemic responses, and the panicked Fed rate hikes between 2022 and 2023 which resulted in a minor banking crisis.
Discussion, October – November 2025
September’s inflation data (released October 24th) offered a rare clean signal in an otherwise muddied environment, confirming a broad though modest cooling in both headline and core CPI before the federal shutdown froze statistical agencies. Headline CPI rose 0.31 percent and core 0.23 percent, both softer than expected, with year-over-year core easing to 3.0 percent. Goods inflation softened, helped by declining vehicle prices and deflation among low–tariff-exposure categories. Core services, meanwhile, slowed sharply on a sizable drop in shelter inflation. Firms continued to pass through roughly 26 cents of every dollar of tariff costs, leaving price pressures elevated but stable, and diffusion indices showed slightly narrower breadth, with fewer extreme increases or declines. Combined, these data reinforced market expectations for another rate cut in December.
Producer price data (released November 25th) painted a similar picture of contained underlying pressures, reinforcing the disinflationary tilt suggested by the CPI. September headline PPI firmed to 0.3 percent on an energy spike, but core PPI rose only 0.1 percent, below expectations, and categories feeding into the Fed’s preferred core PCE gauge were mixed. Portfolio-management fees fell sharply, medical services posted uneven readings, and airfares jumped, suggesting pockets of resilient discretionary spending. Overall producer-side inflation remained tame. Prices for steel and aluminum products covered by Section 232 tariffs have risen about 7.6 percent since March yet appear to be leveling off, supporting the observation that tariff-driven pressures are largely one-time rather than accelerating. The challenge ahead is that October CPI and several subsequent releases will be heavily compromised: two-thirds or more of price quotes were never collected during the shutdown, forcing the Bureau of Labor Statistics to rely on imputation well into spring 2026. As a result, September’s moderate inflation reading may be the last clean data point for months, complicating the Fed’s ability to gauge true disinflation progress even as markets continue to anticipate further easing.
Against this backdrop, the Fed entered its October 28–29 meeting with more uncertainty than usual and opted for the path of least resistance: cutting rates by 25 basis points and announcing that quantitative tightening via the balance sheet will be dialed back starting on December 1st, citing tightening liquidity conditions and a lack of reliable data as the shutdown froze much of the federal statistical system. Policymakers framed the cut as insurance against downside labor market risks even as Chair Powell used his press conference to push back against the idea that another cut at the December 9–10 meeting is guaranteed, emphasizing sharply divided views on the Committee, evidence that bank reserves are slipping from “abundant” to merely “ample,” and the need to pause without fresh official readings on employment or inflation. The statement’s sober description of growth as “moderate,” despite private-sector estimates nearer 4 percent, underscored how the absence of October CPI, payroll data, and other inputs are forcing the Fed to rely on partial and private data, much of which points to softening hiring but continued consumer spending. Markets initially assumed a follow-up cut in December, but Powell’s more hawkish tone, noting lingering inflation frustrations, mixed labor signals, and uncertainty about whether recent growth is real or overstated, pulled those odds down sharply. Investors are now bracing for a data-blind December decision in which alternative labor indicators may carry more weight than any official release.
This dynamic is sharpened by the fact that September’s nonfarm payrolls report is now the only official labor data point available to the Fed before the December meeting, complicating case for another rate cut at a time when the shutdown has halted JOLTS (next release: August 2025, on December 9th), ADP (October 2025, on December 3rd), and every other major labor indicator for October and November. Payrolls rose by 119,000, more than double the consensus, with gains concentrated in construction, health care, and leisure and hospitality. The prior two months were revised down, August job creation turned negative; the unemployment rate rose to 4.44 percent; the latter primarily because labor force participation jumped. Wage growth slowed to 0.2 percent, and sector-level data showed uneven hiring with services expanding, transportation and warehousing shrinking and unemployment inflows continuing to exceed outflows for a third month. In total, the report suggests gradual softening of labor market conditions beneath the surface.
With October and November employment reports cancelled and the next release tentatively planned for December 16, policymakers are left to make a December decision based on a single, stale release, private proxies, and fragmentary signals.
Meanwhile, October’s Institute for Supply Management surveys offered a split view of the underlying economy, reinforcing the sense that growth is uneven but still resilient in places. Services activity accelerated meaningfully, with the headline index rising on the back of strong new orders and renewed business activity — these were partially fueled by data center demand and a burst of mergers and acquisitions in tech and telecom. Contrarily, manufacturing slipped further into contraction at as production reversed sharply following September’s jump. Yet beneath the manufacturing headline, several forward-looking indicators improved, including new orders, backlogs, and employment, all alongside price pressures easing as producers reported input costs rising at a slower pace. Services told the opposite inflation story, with the prices-paid index surging to its highest reading since 2022 and respondents explicitly citing tariffs as a driver of higher contract costs even as service-sector employment contracted more slowly. Taken together the ISM data depict an economy still expanding on the services side while manufacturing remains weak but stabilizing, with demand firming across both sectors even as inflation dynamics sharply diverge.
Those mixed signals contrast with a sharp deterioration in household sentiment. Consumer sentiment fell in November 2025 to one of the lowest readings ever recorded as Americans reported the weakest views of their personal finances since 2009 and the worst buying conditions for big-ticket goods on record. Despite inflation expectations easing for both the one-year (4.5 percent) and long-term (3.4 percent) horizons, households remain deeply strained by high prices, eroding incomes, and growing job insecurity, with the probability of job loss rising to its highest level since mid-2020 and continuing unemployment claims climbing to a four-year high. The survey also highlighted a widening split between wealthier households (whose stock market gains and assets cushion them) and non-stockholders, whose financial positions are deteriorating even as headline economic data appear steady. Of particular note American consumer views darkened even after the federal shutdown ended, suggesting that sentiment is being driven less by political theater and more by lived economic pressure.
View on the other side of the cash register were not materially brighter, which reinforces the broader theme of a cooling but still functioning economy. Small business sentiment slipped to a six-month low in October with the National Federation of Independent Business optimism index falling as firms reported weaker earnings, softer sales, and rising input costs. Half of the index’s components declined, including a notable drop in owners’ expectations for future economic conditions – now at their lowest since April – while the share reporting stronger recent earnings posted its steepest decline since the Covid pandemic. Hiring challenges eased, with only 32 percent of respondents unable to fill openings and fewer firms citing a lack of qualified applicants. Yet near-term hiring plans ticked down for the first time since May, reflecting caution rather than confidence. Price pressures moderated, planned price hikes slipped to a net 30 percent, and somewhat paradoxically the uncertainty index fell to its lowest level of the year (yet remained high by historical standards). The consequent picture is one where firms are still uneasy, yet not panicking, about souring trends in demand, margins, and the broader economic trajectory.
In retail consumption the recent narrative is similar: signs of slowing momentum but not collapse. September brought a modest downshift from August’s brisk pace as households eased off goods purchases after an unusually strong back-to-school season, even as discretionary spending at restaurants and bars remained solid. Headline retail sales rose just 0.2 percent, with most of the softness concentrated in nonstore retail, autos, and the control group categories (clothing, sporting goods, hobby items, and online purchases) all of which gave back part of the summer’s surge. Food services and drinking places, by contrast, continued to post healthy gains, suggesting the pullback in goods was more a matter of normalization than retrenchment, and that spending momentum remained intact through the end of the third quarter. Despite the mixed monthly profile, strength earlier in the summer left real consumer spending on track for a robust 3.2 percent annualized gain in the third quarter, underscoring that households, however stretched and anxious, were still spending steadily heading into the shutdown.
All of this must be interpreted through the lens of the unprecedented disruption of the federal statistical system. The next industrial production and capacity utilization readings are likely to be released on December 3, but beyond that, the timing of most other releases remains uncertain, and agency leaders must now decide which October data can be reconstructed and on what schedule. The CPI presents the thorniest case: with two-thirds of its 100,000 monthly price quotes gathered through in-person store visits, none of which occurred in October 2025, the probability is high that no October CPI will ever be published, and the November CPI may also be delayed beyond the December FOMC meeting. Missing shelter data will complicate rent calculations well into the first quarter of 2026, while surveys fundamental to unemployment measurement simply cannot be recreated weeks after the fact. Although payroll employment and GDP are less vulnerable, because both can be backfilled from employer and business records, the broader effect is essentially the same: for the next several months, official US data will be patchy, delayed, and in some cases permanently incomplete.
Even once agencies resume full operations, the statistical damage will ripple outward, affecting not only headline indicators but also numerous dependent series and long-running supplements. The unemployment rate may post its first missing observation in more than 75 years, since labor market transition measures cannot be estimated. The education supplement to the October household survey will disappear entirely. More immediately, the delays in the November employment report and CPI mean the Fed’s December rate decision will be made with little to no official visibility on inflation or labor conditions for two full months — an extraordinarily rare and consequential impairment. While most of the record will eventually be repaired, the next several weeks will hinge on crucial judgments by BLS, BEA, Census Bureau, and Federal Reserve officials about accuracy, feasibility, and timing. Those choices will inexorably determine how quickly the economy’s statistical foundation regains its footing.
Back to the macroeconomic outlook: soft data show the economy’s split personality: services expanding while manufacturing contracts but stabilizes, consumer sentiment collapsing to near-record lows amid deteriorating personal finances and job anxiety with consumption remaining strong, and small-business optimism slipping on weaker earnings and softer sales. The loss of October and November’s core indicators, plus gaps going forward, mean that policymakers have no reliable read on inflation momentum or labor market cooling, forcing them to evaluate the economy through anecdotes and information patches rather than a full picture. In this environment, even modest surprises — whether in private-sector labor trackers, ISM reports, or high-frequency spending data — carry outsized weight, shaping market expectations and policy debates in ways that would never occur under normal statistical conditions. For now, the lone clear signal amid the noise is the price of gold, and its message is unmistakably cautious.
Barrick Mining (TSX:ABX,NYSE:B) has taken a major step toward ending its months-long standoff with Mali, confirming a deal that will restore its control over one of Africa’s most productive gold operations.
After reports that the two sides had reached an agreement in principle circulated last week, Barrick confirmed on Monday (November 24), it will withdraw its arbitration claim at the World Bank’s dispute-resolution center.
In a more recent development, people familiar with the matter told Bloomberg that the deal includes a 244 billion CFA francs (US$430 million) settlement.
Under the terms described by those sources, Barrick is expected to pay 144 billion CFA francs within six days of signing, with an additional 50 billion CFA francs to be covered through VAT-credit offsets.
Another 50 billion CFA francs had already been paid last year, the sources said, though Barrick declined to comment on whether the deal included a settlement component.
In return, Mali will drop its charges against the company, end state control of the Loulo-Gounkoto complex, and take legal steps to release the four detained employees. The government also confirmed that Barrick’s permit for the Loulo mine, which was set to expire in February, will be renewed for another decade.
The deal is also conditioned with the company accepting the country’s 2023 mining code, the very issue that triggered the confrontation.
Tensions spiked in January when Mali’s military government halted gold exports, detained senior Barrick personnel and seized several tonnes of gold from the site.
A local court later appointed former health minister Soumana Makadji to run the operation under state oversight, effectively pushing Barrick out of a mine it has long managed through a joint venture.
The agreement marks a significant reversal of that intervention and paves the way for Loulo-Gounkoto to return to normal operations.
Production only resumed in late October after a separate deal to restart payments to local contractors, though at that time Barrick did not comment publicly on the arrangement.
Monday’s settlement with the government now sets the stage for a full restoration of the joint venture.
The breakthrough also comes as the company faces intensifying pressure on multiple fronts, as activist investor Elliott Investment Management has recently acquired a major stake worth at least US$700 million in the company.
Elliott is known for forcing corporate overhauls in the mining sector, and its arrival has sharpened scrutiny of Barrick’s performance after a year marked by falling production and rising costs.
The company has lagged peers despite record-high gold prices, with analysts citing the setbacks in Mali, ongoing concerns around the massive Reko Diq project in Pakistan, and turbulence in the executive ranks.
That turbulence erupted publicly in September with the abrupt exit of longtime chief executive Mark Bristow, whose relationship with Barrick chair John Thornton had reportedly deteriorated after years of missed guidance and strategic disagreements.
Sources told the Financial Times the two had barely been speaking by the time headhunters were commissioned to evaluate successors.
Interim chief executive Mark Hill has been trying to stabilize the company with a sweeping reorganization. In an internal memo reviewed by Bloomberg, he said Barrick would fold the Pueblo Viejo mine into its North American division and merge its Latin America and Asia Pacific operations.
He also announced leadership changes to sharpen the focus on Barrick’s Nevada mines, one of the company’s most valuable assets but also the site of serious safety lapses this year.
The restructuring has revived speculation about whether Barrick could eventually split its portfolio into separate companies or become a takeover target.
Currently, the company trades at a lower valuation multiple than rivals, making its assets particularly attractive if separated into a North America-focused unit and other housing operations in Africa, Latin America and the Asia Pacific region.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Here’s a quick recap of the crypto landscape for Monday (November 24) as of 9:00 p.m. UTC.
Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.
Bitcoin and Ether price update
Bitcoin (BTC) was priced at US$89,102.53, up 1.9 percent in 24 hours.
Its price showed a short-term gain after last week’s rout, which saw over US$1.2 billion in spot BTC ETF outflows, marking the third consecutive week with over US$1 billion in outflows, according to SoSoValue.
Bitcoin price performance, November 24, 2025.
Chart via TradingView
However, market sentiment remains very cautious, with the Fear and Greed Index reading 12 at market close. Increased open interest and large short liquidations suggest potential volatility and possible rebound dynamics.
“In the short term, a rebound is highly likely, but if we fall again and lose the US$80,000 level, the probability of facing a much tougher period becomes significantly higher,” CryptoQuant said in a post on X.
Bitcoin’s RSI at 58.52 indicates a moderately bullish momentum, but is still comfortably below overbought territory.
A -0.005 funding rate indicates traders are still somewhat bearish, but short liquidations may start to shift momentum upward. Economic data due later this week could uplift markets if it reinforces expectations of interest rate cuts. Market odds of a rate cut in December have risen recently, with many sources placing the probability around 70-79 percent.
Meanwhile, ETH (ETH) was US$2,973.36, up by 5.1 percent in 24 hours. Liquidations of US$39.75 million, predominantly in short positions, may have fueled upward price pressure through a short squeeze.
Open interest rose 3.07 percent to US$35.93 billion, suggesting increasing trader engagement and speculative activity in ETH derivatives. A funding rate of 0 reflected a balance between bullish and bearish sentiment among traders at this moment.
Altcoin price update
XRP (XRP) was priced at US$2.26, up by 9.2 percent over 24 hours.
Solana (SOL) was trading at US$138.82, up by 4.7 percent over 24 hours.
Today’s crypto news to know
Cardano Chain Split and Etherscan API Outage Highlight DeFi Risks Amid Tensions with JPMorgan
Recent events in the crypto ecosystem have underscored the vulnerabilities and institutional challenges facing DeFi investors. On Friday (November 21), Cardano (CAD) experienced an accidental chain split triggered by a malformed transaction, temporarily dividing the blockchain into two competing chains.
The disruption exposed weaknesses in network resilience and stake pool operations, causing lost block rewards and transaction irregularities in DeFi protocols dependent on Cardano’s network stability.
Then, Etherscan unexpectedly cut off API access to roughly 10 percent of its blockchains and networks. This sudden outage occurred during the DevConnect conference, impairing developers’ ability to manage smart contracts effectively, further revealing how dependent DeFi investors are on the reliability of ancillary infrastructure like blockchain explorers and data providers.
These events came amid growing tensions involving JPMorgan Chase & Co. (NYSE:JPM). The banking giant has drawn ire from the crypto community for reportedly influencing the MSCI to exclude digital asset treasury companies holding more than 50 percent of their assets in cryptocurrencies.
JPMorgan’s research warned that exclusion could trigger forced sell-offs potentially totaling up to US$8.8 billion, with MicroStrategy alone possibly facing US$2.8 billion in outflows. The final decision will be announced Jan. 15 with changes taking effect in February.
The bank then upgraded ratings on Monday for BTC mining companies Cipher Mining (NASDAQ:CIFR) and CleanSpark (NASDAQ:CLSK) to overweight from neutral, citing strong momentum in high-performance computing partnerships and long-term cloud and colocation deals that improve revenue visibility.
JPMorgan’s stance highlights the institutional and regulatory tensions complicating the interface between traditional finance and the fast-evolving crypto ecosystem.
Franklin Templeton and Grayscale lift altcoin markets with launch of XRP ETFs
The Franklin XRP ETF and the Grayscale XRP Trust ETF both launched on NYSE Arca today, providing new regulated investment options for XRP exposure.
Investor response was prompt, with early trading volumes indicating strong demand and positive sentiment around XRP’s future prospects as reflected in both ETFs’ market reception. Market watchers see this dual launch as a major step toward integrating crypto assets like XRP into traditional finance frameworks, enhancing liquidity and investor confidence.
“Historically, new ETF listings have catalyzed inflows and improved liquidity, but this time, the launches are colliding with tight liquidity, low investor confidence and pronounced market underperformance,” he explained. “This is creating an unusually complex test for many investors’ risk appetite.
“However, as market sentiment has been so underwhelming in recent times, the ETF season hitting the market at its current condition may be when they can make the most significant contribution to the digital asset economy this year.”
Ray added that the launch of altcoin ETFs is creating a steady flow of capital into the digital asset market, providing a liquidity buffer. This momentum could lead to an end-of-year rally, potentially pushing prices higher for altcoins like Ether, XRP and Solana.
Michael Burry debuts newsletter after Scion shutdown
Michael Burry, best known for his prescient bet against the US housing market in 2008, has launched a paid Substack newsletter soon after closing his hedge fund, Scion Asset Management.
In his introductory post, Burry emphasized that the move does not mark retirement but rather a shift toward writing without the regulatory constraints that accompany professional money management.
Priced at US$39 per month, the newsletter quickly drew more than 21,000 subscribers. Early essays revisit his trading history during the dot-com era and outline why he views today’s AI-driven boom as a supply-glutted bubble primed for correction.
With Scion now closed, Burry says the newsletter will become his primary outlet for analysis as he continues to track what he views as speculative excess building across technology markets.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Harmony Gold Mining (NYSE:HMY,JSE:HAR) announced that it has approved development of its Eva Copper project in Queensland after completing an updated feasibility study, with an estimated capital of US$1.75 billion across a three-year window.
The South African miner said Monday (November24) that its board signed off on the Final Investment Decision for the Eva copper project, a 100-percent-owned project in northwest Queensland expected to deliver high margins and a long operating life.
Harmony plans to build a low strip-ratio open-pit mine capable of producing about 65,000 metric tons of copper concentrate annually during its first five years, with an average life-of-mine profile of roughly 60,000 metric tons of copper and 19,000 ounces of gold per year over an estimated 15-year span.
The mine will process about 18 million metric tons of ore per year and carry an all-in sustaining cost of approximately US$2.50 per pound.
CEO Beyers Nel said the feasibility results confirm the company’s shift toward a balanced gold-and-copper portfolio.
“The Eva Copper Feasibility Study delivers a strong, high-confidence outcome that positions Harmony for the next phase of growth as we continue building a high-quality, low-cost portfolio,” he said.
Nel also tied Eva Copper to Harmony’s expanding strategy, pointing to the company’s recently completed MAC Copper acquisition.
“Eva Copper, together with our recent MAC Copper acquisition, creates a compelling platform that brings together the enduring value of gold with the future-facing strength of copper, enhancing cash flow resilience across commodity cycles,” he said.
Last month, Harmony completed its US$1.01 billion acquisition of MAC Copper, giving the company full ownership of the high-grade CSA copper mine in New South Wales.
The company said the purchase builds on its strategic push to strengthen its copper position in Tier-1 jurisdictions. It also expects its two major Australian copper assets to deliver a combined 100,000 metric tons of copper annually once fully commissioned.
Meanwhile, the Eva Copper project was acquired by the company in October 2022 and has since completed 166,000 metres of drilling. The current two-million-metric-ton copper resource underpins the potential for future extensions to the mine’s life.
Harmony anticipates first production in the second half of 2028, a timeline it says aligns with a structural deficit in copper supply that could support stronger prices.
Board approval moves the project into the execution phase. Mobilization to site is expected in the third quarter of fiscal 2026, subject to amendments to the project’s Environmental Authority.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Figure 1: La Joya plan view showing mineralized areas and location of underground sampling.
Photo 1: Underground sampling of the historic La Embotelladora Mineworkings.
Figure 2: Plan view showing recent channel sample assay results and existing drilling results.
Figure 3: La Joya preliminary numerical model of AgEq trended to apparent E-W structural network.
Figure 4: La Joya location and historical and operating mines in the area.
View original content: http://www.newswire.ca/en/releases/archive/November2025/25/c5121.html
