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Nevgold Corp. (‘ NevGold ‘ or the ‘ Company ‘) ( TSXV:NAU,OTC:NAUFF) (OTCQX:NAUFF) (Frankfurt:5E50 ) is pleased to announce extremely positive antimony (‘Antimony’, ‘Sb’) metallurgical testwork results at its oxide gold-antimony Limousine Butte Project (the ‘Project’, ‘Limo Butte’) in Nevada, one of the world’s prolific mining jurisdictions.

 

The positive antimony metallurgical recovery results, that have minimal to no impact on gold recoveries, are a key development in unlocking the substantial gold-antimony potential of the Project, highlighting its promising prospects for further exploration and development.

 

   Key Highlights   

 

  • Extremely positive antimony metallurgical testwork results from drill core and surface oxide gold-antimony samples including (Table 2):
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  •  
    • Acid Leaching indicating antimony extraction recovery between 75% and 92%
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    • Sulfidized Flotation indicating antimony recovery between 61% and 78%
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    • Core samples were from both Resurrection Ridge and Cadillac Valley, the two most advanced gold-antimony target areas at the Project
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  •  

  • Acid Leaching and Sulfidized Flotation will be advanced into the next stage of metallurgical testing and trade-off engineering studies  
  •  

  •   Two plus 20-kilogram composite samples of both drill core and surface samples were used for testwork outlining a representative sample of the oxide gold-antimony mineralization at the Project
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  • Antimony recovery has minimal to no impact on the gold recovery in a potential combined gold-antimony mine scenario
  •  

  •   Drill rig will be mobilized in the coming weeks for the next phase of drilling focused on advancing Limo Butte to a gold-antimony Mineral Resource Estimate (‘MRE’) by Q4-2025   
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  NevGold CEO, Brandon Bonifacio, comments:   ‘The results from the first phase of antimony metallurgical test work at Limo Butte have     exceeded our expectations with up to 92% antimony recovery     . Tests from large bulk samples of both core drilling and surface samples demonstrate that    positive antimony recoveries can be attained through different metallurgical process flowsheets, and that the oxide gold is also recoverable.    The information generated from this program has helped us better understand the metallurgical aspects of the antimony mineralization at the Project, and it will guide the design of future metallurgical testwork programs. It has been an extremely positive, critical development to define    numerous options to positively recover both the gold and antimony from the near-surface oxide mineralization    . We continue to execute in de-risking and advancing the oxide gold-antimony potential, and this is another key milestone achieved in unlocking the substantial value of the Limo Butte Project.’  

 

   Limo Butte Planned 2025 Activities / Status Update   
NevGold will continue its active exploration program at Limo Butte including:

 

  • Evaluate the historical geological database with focus on gold and antimony (completed) ;
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  • Evaluate and re-analyze historical drilling with focus on gold and antimony (in progress, continues) ;
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  • Metallurgical testwork (    1     st     Phase Completed    ) ;
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  • 2025 drilling of gold-antimony targets (drill rig will mobilize over the coming weeks) .
  •  

   

 

  Figure 1 – Limousine Butte Gold-Antimony Project with location of core and surface samples used in the antimony metallurgical testwork program.     To view image please click here    

 

   

 

  Figure 2 – Surface metallurgical grab sample from Resurrection Ridge: silicified and oxidized carbonate breccia with visible stibiconite (antimony) as elongated white crystals up to 6 cm long.     To view image please click here    

 

   Summary of Antimony Metallurgical Testwork Program   
The gold-antimony zones at Limousine Butte are typically associated with silicification and the formation of jasperoid breccias within the Pilot Shale unit, which is the primary host rock for Carlin-type gold-antimony mineralization in the area.

 

Two plus 20-kilogram composite samples were sent to the Kappes, Cassiday & Associates laboratory (KCA) in Reno, Nevada, for initial antimony recovery metallurgical test work. The core sample was composed of material from the Resurrection Ridge and Cadilac Valley target areas (Figure 1) ranging from 64 meters to 377 meters deep. The surface outcrop sample was taken from several outcrops in the historically mined Golden Butte pit, and the nearby Nevada Antimony Mine prospect (Figure 1). Both the surface and core samples contained antimony oxide with minor antimony sulfide minerals. Head assays for the composites are summarized in Table 1.

 

               

  KCA Sample #     Description     Au g/t     Ag g/t     Sb %  
101178 B Limo Core 0.892 2.64 > 1%
101179 B Limo Surface 0.27 1.13 > 4%

 

  Table 1 – Summary of test material characteristics from Limo Butte.  

 

Initial metallurgical testwork on the antimony consisted of various proposed metallurgical processes including gravity, flotation, and leaching methods. The Leach testing consisted of both basic and acid leaches, with the best results produced from acid leaching indicating an overall antimony extraction recovery of between 75% and 92%. The Flotation testing consisted of oxide flotation, sulfide flotation and sulfidized flotation, with the best results produced from the sulfidized flotation indicating an overall antimony recovery of between 61% and 78%. The Gravity testing results indicate an overall antimony recovery of between 25% and 32%. See below in Table 2.  

 

   Metallurgical Testwork Results – Summary   

 

                                                                                 

  KCA Sample #     Description     Test Type      

Addition  

  Calc. Head,  
% Sb  
  Sb Extracted  
%  
   Leach   
101178 B Limo Core Alkali NaOH 3.56 38
101178 B Limo Core   Acid     H2SO4/HCL     4.67     92  
101179 B Limo Surface Alkali NaOH 7.17 8
101179 B Limo Surface   Acid     H2SO4/HCL     8.41     75  
   Flotation   
101178 B Limo Core Oxide RO CuSO4*5H2O 3.76 33
101178 B Limo Core Sulfide RO Pb(NO3)2 3.77 35
  101178 B     Limo Core     Sulfur Roast + Sulfide RO     Pb(NO3)2     4.06     61  
101179 B Limo Surface Oxide RO CuSO4*5H2O 7.71 12
101179 B Limo Surface Sulfide RO Pb(NO3)2 7.87 3
  101179 B     Limo Surface     Sulfur Roast + Sulfide RO     Pb(NO3)2     8.57     78  
   Gravity   
101178 B Limo Core Gravity   3.01 25
101179 B Limo Surface Gravity   8.15 32

 

  Table 2 – Summary of antimony metallurgical testwork results from Limo Butte.  

 

   

 

  Figure 3 – Limousine Butte Project with historical antimony in rock chips and soils. The total strike length between Resurrection Ridge and Cadillac Valley is +5km.     To view image please click here    

 

   US Executive Order – Announced March 20, 2025   
The Company is pleased to report the recent, sweeping    Executive Order     to strengthen American mineral production and reduce U.S. reliance on foreign nations for its mineral supply . Antimony (Sb) has been identified as an important ‘Critical Mineral’ in the United States essential for national security, clean energy, and technology applications, yet no domestically mined supply currently exists.  

 

The Executive Order invokes the use of the Defense Production Act as part of a broad United States (‘US’) Government effort to expand domestic minerals production on national security grounds. As it relates to project permitting, the Order states that it will ‘identify priority projects that can be immediately approved or for which permits can be immediately issued, and take all necessary or appropriate actions…to expedite and issue the relevant permits or approvals.’ Furthermore, the Order includes provisions to accelerate access to private and public capital for domestic projects, including the creation of a ‘dedicated mineral and mineral production fund for domestic investments’ under the Development Finance Corporation (‘DFC’).

 

This decisive action by the US Government highlights the urgent need to expand domestic minerals output to support supply chain security in the United States. This important Order will help revitalize domestic mineral production by improving the permitting process and providing financial support to qualifying domestic projects.

 

   Importance of Antimony   
Antimony is considered a ‘Critical Mineral’ by the United States based on the U.S. Geological Survey’s 2022 list (U.S.G.S. (2022)). ‘Critical Minerals’ are metals and non-metals essential to the economy and national security. Antimony is utilized in all manners of military applications, including the manufacturing of armor piercing bullets, night vision goggles, infrared sensors, precision optics, laser sighting, explosive formulations, hardened lead for bullets and shrapnel, ammunition primers, tracer ammunition, nuclear weapons and production, tritium production, flares, military clothing, and communication equipment. Other uses include technology (semi-conductors, circuit boards, electric switches, fluorescent lighting, high quality clear glass and lithium-ion batteries) and clean-energy storage.

 

Globally, approximately 90% of the world’s current antimony supply is produced by China, Russia, and Tajikistan. Beginning on September 15, 2024, China, which is responsible for nearly half of all global mined antimony output and dominates global refinement and processing, announced that it will restrict antimony exports. In December-2024, China explicitly restricted antimony exports to the United States citing its dual military and civilian uses, which further exacerbated global supply chain concerns. (Lv, A. and Munroe, T. (2024)) The U.S. Department of Defense (‘DOD’) has designated antimony as a ‘Critical Mineral’ due to its importance in national security, and governments are now prioritizing domestic production to mitigate supply chain disruptions. Projects exploring antimony sources in North America play a key role in addressing these challenges.

 

Perpetua Resources Corp. (‘Perpetua’, NASDAQ:PPTA, TSX:PPTA) has the most advanced domestic gold-antimony project in the United States. Perpetua’s project, known as Stibnite, is located in Idaho approximately 130 km northeast of NevGold’s Nutmeg Mountain and Zeus projects. Positive advancements at Stibnite including the technical development and permitting has led to US$75 million in Department of Defense (‘DOD’) awards, and over $1.8 billion in indicative financing from the Export Import Bank of the United States (‘US EXIM’) (   see Perpetua Resources News Release from April 8, 2024   ) (Perpetua Resources. (2025))

 

   

 

  Figure   4 – Limousine Butte Land Holdings and District Exploration Activity     To view image please click here    

 

  ON BEHALF OF THE BOARD  

 

   ‘Signed’   

 

  Brandon Bonifacio, President & CEO  

 

For further information, please contact Brandon Bonifacio at bbonifacio@nev-gold.com, call 604-337-4997, or visit our website at   www.nev-gold.com   .

 

   Sampling Methodology, Chain of Custody, Quality Control and Quality Assurance:   
NevGold QA/QC protocols are followed on the Project and include insertion of duplicate, blank and standard samples in all drill holes. A 30g gold fire assay and multi-elemental analysis ICP-OES method was completed by ISO 17025 certified American Assay Labs, Reno.

 

The metallurgical work was carried out by Kappes, Cassiday and Associates based in Reno, Nevada. Head assays were ground to 80% passing 0.075mm and analyzed by standard 30g gold fire assay and multi-elemental analysis ICP-OES methods. Gravity test samples were milled to 80% passing 0.212mm and concentrated by Knelson concentrator and hand-panned to final concentrate and tailings. Flotation test samples were milled to 80% passing 0.045mm and used for the flotation tests using various activators. Leach test samples were milled to 80% passing 0.045mm. The alkaline and acid leach tests were leached at 80 o C for 8 hours.

 

The Company’s Qualified Person (‘QP’), Greg French, Vice President, Exploration has completed a review of the historical data in this press release. The historic data collection chain of custody procedures and analytical results by previous operators appear adequate and were completed to industry standard practices. For the Newmont and US Gold data a 30g gold fire assay and multi-elemental analysis ICP-OES method MS-41 was completed by ISO 17025 certified ALS Chemex, Reno or Elko Nevada.

 

Technical information contained in this news release has been reviewed and approved by Greg French, CPG, the Company’s Vice President, Exploration, who is NevGold’s Qualified Person under National Instrument 43-101 and responsible for technical matters of this release.

 

   About the Company   
NevGold is an exploration and development company targeting large-scale mineral systems in the proven districts of Nevada and Idaho. NevGold owns a 100% interest in the Limousine Butte and Cedar Wash gold projects in Nevada, and the Nutmeg Mountain gold project and Zeus copper project in Idaho.

 

  Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.  

 

 

 

   Cautionary Note Regarding Forward Looking Statements   

 

  This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as ‘plan’, ‘expect’, ‘project’, ‘intend’, ‘believe’, ‘anticipate’, ‘estimate’, ‘suggest’, ‘indicate’ and other similar words or statements that certain events or conditions ‘may’ or ‘will’ occur. Forward-looking statements include, but are not limited to, the proposed work programs at Limousine Butte, and the exploration potential at Limousine Butte. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such risks include, but are not limited to, general economic, market and business conditions, and the ability to obtain all necessary regulatory approvals. There is some risk that the forward-looking statements will not prove to be accurate, that the management’s assumptions may not be correct or that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made 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. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.  

 

   References   

 

Blackmon, D. (2021) Antimony: The Most Important Mineral You Never Heard Of.   Article Prepared by Forbes.  

 

Kurtenbach, E. (2024) China Bans Exports to US of Gallium, Germanium, Antimony in response to Chip Sanctions . Article Prepared by AP News.  

 

Lv, A. and Munroe, T. (2024) China Bans Export of Critical Minerals to US as Trade Tensions Escalate . Article Prepared by Reuters.  

 

Lv, A. and Jackson, L. (2025) China’s Curbs on Exports of Strategic Minerals . Article Prepared by Reuters.  

 

Perpetua Resources. (2025) Antimony Summary . Articles and Videos Prepared by Perpetua Resources.  

 

Sangine, E. (2022) U.S. Geological Survey, Mineral Commodity Summaries, January 2023 . Antimony Summary Report prepared by U.S.G.S

 

U.S.G.S. (2022) U.S. Geological Survey Releases 2022 List of Critical Minerals . Reported Prepared by U.S.G.S  

 

 

 

   

 

 

News Provided by GlobeNewswire via QuoteMedia

This post appeared first on investingnews.com

George Clooney is keeping quiet after Hunter Biden unleashed a string of vulgar attacks on the Hollywood actor.

Hunter, 55, accused Clooney, 64, of turning on his father, former President Joe Biden, and helping lead the charge to push him out of the 2024 race. 

‘I love George Clooney’s movies, but I don’t really give a s— what he thinks about who should be the nominee for the Democratic Party,’ Hunter said on the ‘At Our Table’ podcast. 

‘I was about to say I really like George Clooney as an actor, but the truth of the matter is, the truth is, I’ll be honest, I really don’t like George Clooney as an actor or as a person.’

Hunter recalled tensions between Clooney and his father behind the scenes at an event prior to the election.

‘George Clooney, before that event … literally threatened to pull out of the event — how many times? Five, six times? Over and over again, saying that he was so upset because my dad refused to recognize the arrest warrant for Netanyahu,’ Hunter said as he referred to the prime minister of Israel, Benjamin Netanyahu.

Hunter claimed Clooney’s behavior at the event was distant and alleged the actor only stayed for five minutes, spoke to no one except Barack Obama and ignored the rest of the crowd.

‘Literally, I was whispering in [Biden’s] ear saying, ‘Dad, f— him.’ … You got to be kidding me because I was so mad,’ Hunter added. ‘And he claims in his arrogance that my dad, the president of the United States, didn’t know who the actor was.’

Reps for Clooney did not immediately respond to Fox News Digital’s request for comment. 

Clooney has yet to comment publicly on Hunter’s comments, even as the president’s son continues his media blitz.

In a separate appearance with Andrew Callaghan on his ‘Channel 5’ podcast over the weekend, Hunter’s criticism of Clooney escalated into a full-blown, hourslong meltdown accusing the ‘Ocean’s 11’ star of sabotaging his father’s re-election effort.

Hunter said the alleged move was made with ‘the blessing’ of former President Obama and his cohorts.

‘F— him! F— him and f— everybody around him,’ Hunter said bluntly. ‘I don’t have to be f—ing nice. No. 1, I agree with Quentin Tarantino. George Clooney is not a f—ing actor. He is a f—ing, I don’t know what he is. He’s a brand.’

The former president’s son’s rage emerged as they discussed Clooney’s infamous New York Times op-ed, which was published days after his father’s widely criticized debate performance. 

Clooney called for Biden to step aside as the Democratic nominee at the time. 

‘It’s devastating to say it, but the Joe Biden I was with three weeks ago at the fundraiser was not the Joe ‘big f—ing deal’ Biden of 2010. He wasn’t even the Joe Biden of 2020,’ Clooney wrote. ‘He was the same man we all witnessed at the debate.’

Clooney’s statement appeared to trigger a furious response from Hunter, who blasted the actor for spreading what he called false claims about his father’s mental health. 

‘Why do I have to f—ing listen to you?’ Hunter asked during the podcast. ‘What do you have to do with f—ing anything?… What right do you have to step on a man who’s given 52 years of his f—ing life to the service of this country and decide that you, George Clooney, are going to take out basically a full-page ad in the f—ing New York Times to undermine the president?’

Biden withdrew from the race July 21, 2024, and was replaced on the Democratic ticket by Kamala Harris.

Hunter also noted Clooney was friends with former President Obama and only published his essay with the ‘blessing of the Obama team.’ 

‘You know what George Clooney did? Because he sat down with, I guess, because he was given a blessing by the Obama team, the Obama people and whoever else,’ he said. 

In April, Clooney spoke with CNN’s Jake Tapper about writing the op-ed, saying it was his ‘civic duty.’

‘It was a civic duty because I found that people on my side of the street — you know, I’m a Democrat in Kentucky, so I get it. When I saw people on my side of the street not telling the truth, I thought that was time to … some people [are mad], sure. That’s OK, you know. Listen, the idea of freedom of speech is you can’t demand freedom of speech and then say, ‘But don’t say bad things about me,‘’ Clooney said.

While on ‘The Late Show with Stephen Colbert’ in February, Clooney spoke about Harris losing to Donald Trump in the presidential election. 

‘I was raised a Democrat in Kentucky … and you know I’ve lost a lot of elections. … You know, this is democracy and this is how it works,’ he said.

‘It didn’t work out. That’s what happens. It’s part of democracy. … And, you know, there’s people that agree and people who disagree, and most of us still like each other. We’re all gonna get through it.’

Clooney spoke about President Trump again in April during an interview with Patti LuPone for Variety’s ‘Actors on Actors: Broadway.’

‘He’s charismatic. There’s no taking that away from him. He’s a television star. But eventually we’ll find our better angels. We have every other time,’ he said.

‘If you’re a Democrat, we have to find some people to represent us better, who have a sense of humor and who have a sense of purpose. I think we’ll get the House back in a year and a half, and I think that’ll be a check and balance on power.’

Earlier this year, Clooney was thrust into the spotlight as questions about his family’s future in the U.S. under President Trump’s administration arose.

Clooney’s wife, Amal, is an international human rights lawyer born in Lebanon and raised in the U.K., and she holds legal credentials in both Britain and the United States. 

Amal reportedly gave legal advice in a war crimes case against Israeli Prime Minister Netanyahu and Israeli Defense Minister Yoav Gallant over the war in Gaza, according to the Financial Times.

A Trump executive order claimed the court ‘engaged in illegitimate and baseless actions targeting America and our close ally Israel. The ICC has, without a legitimate basis, asserted jurisdiction over and opened preliminary investigations concerning personnel of the United States and certain of its allies, including Israel, and has further abused its power by issuing baseless arrest warrants targeting Israeli Prime Minister Benjamin Netanyahu and Former Minister of Defense Yoav Gallant.

‘The United States will impose tangible and significant consequences on those responsible for the ICC’s transgressions, some of which may include the blocking of property and assets, as well as the suspension of entry into the United States of ICC officials, employees, and agents, as well as their immediate family members.’ 

Clooney proposed to Amal in April 2014, and the couple married five months later in Venice, Italy. In 2017, the Clooneys welcomed twins Alexander and Ella.  

Fox News Digital’s Tracy Wright contributed to this report.

This post appeared first on FOX NEWS

In a damning new report, researchers reveal how China came to control over 80% of the critical raw battery materials needed for defense technology — posing an urgent national security threat.

Through lax permitting processes, weak environmental standards, and aggressive state-led interventions, China has come to dominate global supplies of graphite, cobalt, manganese, and the battery anode and cathode materials that power advanced defense systems.

‘Batteries will be one of the bullets of future wars,’ the report’s authors warn, citing their essential role in drones, handheld radios, autonomous submersibles, and emerging capabilities like lasers and directed energy weapons.

According to the Foundation for Defense of Democracies (FDD), the Chinese Communist Party (CCP) has weaponized global battery infrastructure through a combination of state subsidies, forced intellectual property transfers, and predatory pricing practices.

China didn’t just rely on low-cost tactics — it also used its financial muscle abroad. Over the past two decades, at least 26 state-backed banks have pumped roughly $57 billion into mining and processing projects in Africa, Latin America, and beyond. These investments, often structured through joint ventures and special-purpose vehicles, gave Chinese firms controlling stakes in mineral mining, the report said. 

Through its Belt and Road Initiative, China has leveraged influence in resource-rich developing nations, securing control over massive critical mineral deposits. Today, it processes approximately 65% of the world’s lithium, 85% of graphite, 70% of cathodes, 85% of anodes, and a staggering 97% of anode active materials.

Beyond powering drones, handheld radios, and electric vehicles, lithium is critical in strategic military systems: lithium-ion batteries are used in grid support for bases and emerging directed-energy weapons.

Moreover, Beijing has begun weaponizing export controls: since 2023, it has tightened restrictions on processed graphite, gallium, and germanium — later adding antimony, tungsten, and rare earths to the roster. These measures curb exports via a licensing regime and broad bans on exports to the U.S., signaling a clear geopolitical leverage too, according to the report. 

Both lithium and graphite are essential for modern nuclear weapons. Cobalt alloys are used in jet engines, naval turbines, electronics connectors, and sensors capable of withstanding extreme temperatures, vibration, and radiation-making. 

While American and allied reserves of lithium — both brine and hard rock — are being tapped, with new projects in North and South Carolina targeting domestic spodumene processing, the report claims U.S. mineral mining and refining are not advancing quickly enough to meet national security demands.

Permitting obstacles account for roughly 40% of all delays in mining projects, the report notes, with processing operations facing similarly cumbersome constraints.

Chinese subsidies ‘dwarf’ those available to U.S. firms, and include tax exemptions, direct manufacturing grants, and ultra-low-interest loans, the report said. 

U.S. firms are now accelerating investment in domestic alternatives to China’s lithium. With new Trump administration initiatives aimed at incentivizing critical mineral development—and forecasts projecting the U.S. lithium market to grow by roughly 500% over the next five years — American companies are beginning to build out processing capacity on home soil. 

Piedmont Lithium is developing a lithium hydroxide facility in North Carolina to process spodumene concentrate from its U.S. deposits, while Albemarle recently announced plans for a new lithium processing plant in Chester County, South Carolina. Both projects are designed to feed a fast-growing domestic battery ecosystem and reduce dependence on Chinese supply chains.

But to become globally competitive, the report argues, the U.S. must take a far more proactive approach, including incentivizing private-sector investment, streamlining federal permitting, establishing a national critical minerals stockpile, building technical talent pipelines, creating special economic zones, and developing robust domestic processing infrastructure.

The authors also stress the importance of ally-shoring, recommending diplomatic coordination with trusted partners — similar to prior U.S. efforts involving Ukraine, Greenland, and the DRC in rare-earth sourcing — to construct resilient supply chains beyond China’s reach.

‘Despite China’s control of the battery supply chain, this is a time of great vulnerability for Beijing, while the United States and its core allies remain strong,’ the report concludes. 

‘It is time for new guardrails, muscular statecraft, and a unified international response to non-market manipulation. Building critical supply chains that are independent of China’s coercive economic practices can help unleash a wave of cooperation among free-market nations that will lift up both established allies and emerging market partners and turn the tide against China’s parasitic economic model.’

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The Senate narrowly voted to move forward with considering the nomination of former Trump lawyer Emil Bove to a federal court of appeals on Tuesday.

The 50-48 vote saw one Republican break ranks and vote against his nomination, while Democrats have done everything in their power to slow down the nomination. Bove, who currently works at the Justice Department, is nominated to serve on the 3rd U.S. Circuit Court of Appeals.

Democrats have argued that Bove, a former defense attorney for President Donald Trump, is unfit for the role, pointing to allegations that he proposed behind closed doors that the Trump administration could simply ignore judicial orders. Bove denies those allegations.

Sen. Susan Collins, R-Maine, voted with Republicans to move forward but said in a statement that she will oppose Bove’s confirmation on a final vote. Alaska Sen. Lisa Murkowski was the lone Republican to vote against moving forward with Bove’s nomination.

‘We have to have judges who will adhere to the rule of law and the Constitution and do so regardless of what their personal views may be,’ Collins said in a statement. ‘Mr. Bove’s political profile and some of the actions he has taken in his leadership roles at the Department of Justice cause me to conclude he would not serve as an impartial jurist.’

Democrats on the Senate Judiciary Committee stormed out of the meeting where the committee approved Bove last week.

Sen. Cory Booker, D-N.J., attempted to push for more debate time, but Chairman Chuck Grassley, R-Iowa, pushed forward with the vote.

‘What are you afraid of?’ Booker erupted, after Grassley tried to speak over him and hold the vote. ‘Debating this [nomination], putting things on the record — Dear God,’ he said, ‘that’s what we are here for.’

 ‘What are they saying to you,’ he said, referring to the Trump administration, ‘that is making you do something to violate the decorum, the decency and the respect of this committee to at least hear each other out?’

Booker ended the sharp exchange with Grassley by saying simply, ‘This is wrong, sir, and I join with my colleagues in leaving,’ before streaming out of the committee room.

It comes as Trump administration officials have taken aim at ‘activist’ judges they argue are blocking the president’s agenda and preventing him from enacting his sweeping policy goals, including the administration’s crackdown on border security and immigration.

Fox News’ Breanne Deppisch and The Associated Press contributed to this report.

This post appeared first on FOX NEWS

The intelligence community did not have any direct information that Russian President Vladimir Putin wanted to help elect Donald Trump during the 2016 presidential election, but, at the ‘unusual’ direction of then-President Barack Obama, published ‘potentially biased’ or ‘implausible’ intelligence suggesting otherwise, the House Intelligence Committee found.

Director of National Intelligence Tulsi Gabbard declassified a report prepared by the House Permanent Select Committee on Intelligence back in 2020.

The report, which was based on an investigation launched by former House Intelligence Community Chairman Devin Nunes, R-Calif., was dated Sept. 18, 2020. At the time of the publication of the report, Rep. Adam Schiff, D-Calif., was the chairman of the committee.

The report has never before been released to the public, and instead, has remained highly classified within the intelligence community.

Fox News Digital obtained the unredacted and fully-sourced limited-access investigation report that was drafted and stored in a limited-access vault at CIA Headquarters.

The committee focused on the creation of the Intelligence Community Assessment of 2017, in which then-CIA Director John Brennan pushed for the inclusion of the now-discredited anti-Trump dossier, despite knowing it was based largely on ‘internet rumor,’ as Fox News Digital previously reported.

According to the report, the ICA was a ‘high-profile product ordered by the President, directed by senior IC agency heads, and created by just five CIA analysts, using one principal drafter.’

‘Production of the ICA was subject to unusual directives from the President and senior political appointees, and particularly DCIA,’ the report states. ‘The draft was not properly coordinated within CIA or the IC, ensuring it would be published without significant challenges to its conclusions.’

The committee found that the five CIA analysts and drafter ‘rushed’ the ICA’s production ‘in order to publish two weeks before President-elect Trump was sworn-in.’

‘Hurried coordination and limited access to the draft reduced opportunities for the IC to discover misquoting of sources and other tradecraft concerns,’ the report states.

The report states that Brennan ‘ordered the post-election publication of 15 reports containing previously collected but unpublished intelligence, three of which were substandard—containing information that was unclear, of uncertain origin, potentially biased, or implausible—and those became foundational sources for the ICA judgements that Putin preferred Trump over Clinton.’

‘The ICA misrepresented these reports as reliable, without mentioning their significant underlying flaws,’ the committee found.

‘One scant, unclear, and unverifiable fragment of a sentence from one of the substandard reports constitutes the only classified information cited to suggest Putin ‘aspired’ to help Trump win,’ the report states, adding that the ICA ‘ignored or selectively quoted reliable intelligence reports that challenged-and in some cases undermined—judgments that Putin sought to elect Trump.’

The report also states that the ICA ‘failed to consider plausible alternative explanations of Putin’s intentions indicated by reliable intelligence and observed Russian actions.’

The committee also found that two senior CIA officers warned Brennan that ‘we don’t have direct information that Putin wanted to get Trump elected.’

Despite those warnings, the Obama administration moved to publish the ICA.

The ICA ‘did not cite any report where Putin directly indicated helping Trump win was the objective.’

The ICA, according to the report, excluded ‘significant intelligence’ and ‘ignored or selectively quoted’ reliable intelligence in an effort to push the Russia narrative.

The report also includes intelligence from a longtime Putin confidant who explained to investigators that ‘Putin told him he did not care who won the election,’ and that Putin ‘had often outlined the weaknesses of both major candidates.’

The report also states that the ICA committed context showing that the claim that Putin preferred Trump was ‘implausible—if not ridiculous.’

The committee also found that the ICA suppressed intelligence that showed that Russia was actually planning for a Hillary Clinton victory because ‘they knew where [she] stood’ and believed Russia ‘could work with her.’

The committee also noted that the ICA ‘did not address why Putin chose not to leak more discrediting material on Clinton,’ even as polls tightened in the final weeks of the election.’

The committee also found that the ICA suppressed intelligence showing that Putin was ‘not only demonstrating a clear lack of concern for Trump’s election fate,’ but also indicated ‘that he preferred to see Secretary Clinton elected, knowing she would be a more vulnerable President.’

The declassification of the report comes just days after Gabbard declassified and released documents that included ‘overwhelming evidence’ that demonstrated how, after President Donald Trump won the 2016 election against Hillary Clinton, then-President Barack Obama and his national security team laid the groundwork for what would be the yearslong Trump–Russia collusion probe.

Meanwhile, Fox News Digital, in 2020, exclusively obtained the declassified transcripts from Obama-era national security officials’ closed-door testimonies before the House Intelligence Committee, in which those officials testified that they had no ’empirical evidence’ of a conspiracy between the Trump campaign and Russia in the 2016 election, but continued to publicly push the ‘narrative’ of collusion.

The House Intelligence Committee, in 2017, conducted depositions of top Obama intelligence officials, including Director of National Intelligence James Clapper, National Security Advisor Susan Rice and Attorney General Loretta Lynch, among others.

The officials’ responses in the transcripts of those interviews align with the results of former Special Counsel Robert Mueller’s investigation – which found no evidence of criminal coordination between the Trump campaign and Russia in 2016, while not reaching a determination on obstruction of justice.

The transcripts, from 2017 and 2018, revealed top Obama officials were questioned by House Intelligence Committee lawmakers and investigators about whether they had or had seen evidence of such collusion, coordination or conspiracy – the issue that drove the FBI’s initial case and later the special counsel probe.

‘I never saw any direct empirical evidence that the Trump campaign or someone in it was plotting/conspiring with the Russians to meddle with the election,’ Clapper testified in 2017. ‘That’s not to say that there weren’t concerns about the evidence we were seeing, anecdotal evidence…. But I do not recall any instance where I had direct evidence.’

Lynch also said she did ‘not recall that being briefed up to me.’

‘I can’t say that it existed or not,’ Lynch said, referring to evidence of collusion, conspiracy or coordination.

But Clapper and Lynch, and Vice President Joe Biden, were present in the Oval Office on July 28, 2016, when Brennan briefed Obama and Comey on intelligence he’d received from one of Hillary Clinton’s campaign foreign policy advisors ‘to vilify Donald Trump by stirring up a scandal claiming interference by the Russian security service.’ 

‘We’re getting additional insight into Russian activities from (REDACTED),’ Brennan’s handwritten notes, exclusively obtained by Fox News Digital in October 2020, read. ‘CITE (summarizing) alleged approved by Hillary Clinton a proposal from one of her foreign policy advisers to vilify Donald Trump by stirring up a scandal claiming interference by the Russian security service.’

Meanwhile, former U.S. Ambassador to the United Nations Samantha Power, according to the transcript of her interview to the House Intelligence Committee, was asked whether she had or saw any evidence of collusion or conspiracy.

Power replied: ‘I am not in possession of anything – I am not in possession and didn’t read or absorb information that came from out of the intelligence community.’

When asked again, she said: ‘I am not.’

Rice was asked the same question.

‘To the best of my recollection, there wasn’t anything smoking, but there were some things that gave me pause,’ she said, according to her transcribed interview, in response to whether she had any evidence of conspiracy. ‘I don’t recall intelligence that I would consider evidence to that effect that I saw… conspiracy prior to my departure.’

When asked whether she had any evidence of ‘coordination,’ Rice replied: ‘I don’t recall any intelligence or evidence to that effect.’

When asked about collusion, Rice replied: ‘Same answer.’

Former Deputy National Security Advisor Ben Rhodes was asked the same question during his House Intelligence interview.

‘I wouldn’t have received any information on any criminal or counterintelligence investigations into what the Trump campaign was doing, so I would not have seen that information,’ Rhodes said.

When pressed again, he said: ‘I saw indications of potential coordination, but I did not see, you know, the specific evidence of the actions of the Trump campaign.’

Meanwhile, former FBI Deputy Director Andrew McCabe was not asked that specific question but rather questions about the accuracy and legitimacy of the unverified anti-Trump dossier compiled by ex-British intelligence officer Christopher Steele.

McCabe was asked during his interview in 2017 what was the most ‘damning or important piece of evidence in the dossier that’ he ‘now knows is true.’

McCabe replied: ‘We have not been able to prove the accuracy of all the information.’

‘You don’t know if it’s true or not?’ a House investigator asked, to which McCabe replied: ‘That’s correct.’

After Trump’s 2016 victory and during the presidential transition period, Comey briefed Trump on the now-infamous anti-Trump dossier, containing salacious allegations of purported coordination between Trump and the Russian government. Brennan was present for that briefing, which took place at Trump Tower in New York City in January 2017.

The dossier was authored by Steele. It was funded by Clinton’s presidential campaign and the Democratic National Committee through the law firm Perkins Coie.

But Brennan and Comey knew of intelligence suggesting Clinton, during the campaign, was stirring up a plan to tie Trump to Russia, documents claim. It is unclear whether the intelligence community, at the time, knew that the dossier was paid for by Clinton and the DNC.

Brennan and Comey are now under FBI criminal investigation related to their activities connected to the Russia probe, after a criminal referral was sent by CIA Director John Ratcliffe to FBI Director Kash Patel.

Gabbard also sent the DOJ criminal referrals for those involved in the effort to create ‘manufactured’ and ‘politicized’ intelligence that led to the spreading of the Trump-Russia collusion narrative.

The Obama-era officials have been mum on the new revelations, but a spokesman for Obama on Tuesday made a rare public statement.

‘Out of respect for the office of the presidency, our office does not normally dignify the constant nonsense and misinformation flowing out of this White House with a response,’ Obama spokesman Patrick Rodenbush said in a statement. ‘But these claims are outrageous enough to merit one.’ 

‘These bizarre allegations are ridiculous and a weak attempt at distraction,’ Obama’s spokesman continued. ‘Nothing in the document issued last week undercuts the widely accepted conclusion that Russia worked to influence the 2016 presidential election but did not successfully manipulate any votes.’

He added: ‘These findings were affirmed in a 2020 report by the bipartisan Senate Intelligence Committee, led by then-Chairman Marco Rubio.’ 

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From drone swarms to gene-edited soldiers, the United States and China are racing to integrate artificial intelligence into nearly every facet of their war machines — and a potential conflict over Taiwan may be the world’s first real test of who holds the technological edge.

For millennia, victory in war was determined by manpower, firepower and the grit of battlefield commanders. However, in this ongoing technological revolution, algorithms and autonomy may matter more than conventional arms. 

‘War will come down to who has the best AI,’ said Arnie Bellini, a tech entrepreneur and defense investor, in an interview with Fox News Digital. 

U.S. planners now consider Taiwan the likely locus of a 21st-century great power conflict. Though America doesn’t formally ally with Taiwan, it has steadily armed the island and shifted its forces to focus on the Indo-Pacific. 

The Pentagon is responding with urgency, and nowhere is that transformation more visible than in the U.S. Army’s sweeping AI overhaul. 

The Army goes all-in: $36 billion AI investment

Under Defense Secretary Pete Hegseth’s leadership, the Army has launched a $36 billion modernization initiative aimed directly at countering China in the Indo-Pacific.

By 2026, each of its 10 active combat divisions will be equipped with roughly 1,000 drones, dramatically shifting the battlefield from crewed helicopters to autonomous systems.

Army leaders highlight that legacy weapons and bureaucratic lag are incompatible with future warfare. The new push includes AI-assisted command-and-control, real-world testing under challenging conditions in places like the Philippines and a rapid feedback model to keep doctrine updated.

Stopping wars before they start: Cyber + AI fusion

Beyond hardware, AI may prove most powerful in prevention. Bellini believes U.S. cyber espionage, combined with AI, could strike preemptively. ‘The United States is the very best at cyber espionage and cyber warfare… once you combine [that] with AI, you can stop a war before it even happens.’

This could involve infiltrating Chinese naval systems via cyber-AI tools and neutralizing threats before ships ever set sail.

Biotech on the battlefield: From medics to gene editing

AI isn’t just about machines — it’s changing biology too. The U.S. military is exploring AI-driven trauma care, synthetic blood and regenerative medicine to save lives.

However, China may be pushing the envelope further. ‘China has been one of the more forward-leaning countries in using biotech within its military,’ defense strategist Jack Burnham said. ‘In military hospitals, there is significant research on gene editing … some of this might be dual-use.’

Reports from intelligence chiefs and former DNI John Ratcliffe suggest China may be experimenting with gene-edited soldiers, raising alarms about the ethical gray zone of AI-biotech integration.

Will robots fight battles?

‘The future of warfare is not going to be with people,’ Bellini predicted. ‘It’s going to be robots. It’s going to be drones. And it’s the synchronization.’

Tesla is developing its ‘Optimus’ robot, he noted, complete with an AI-optimized ‘brain’ to complete chores that are ‘dangerous, repetitive and boring’ in warehouses, homes and even hazardous facilities like nuclear plants.

CEO Elon Musk has spoken out against using Optimus as a ‘killer robot,’ but still, foreign adversaries worry about the potential for dual use. 

China has imposed export restrictions on the rare-earth magnets needed for Optimus actuators, specifically requesting assurances that the units won’t be used for military purposes.

War-gaming for tomorrow’s conflict

U.S. forces are already simulating this future in AI-enhanced war games. Through these exercises, commanders learn to operate at AI pace — modeling logistics, battlefield flows, and adversaries at an unprecedented scale.

‘AI is really good at modeling logistics… visualizing and integrating vast quantities of data… [creating] a more immersive experience at a much larger scale,’ Burnham said.

‘These AI opponents are like intelligent enemies you’re playing against in a war game,’ explained Dr. Randall Hill, executive director of the University of Southern California’s Institute for Creative Technologies. ‘It’s important to train not just with AI but also about AI — so soldiers understand where to trust it and where its limits are.’

Hill’s team is developing tools like PAL3, a personalized AI teaching assistant for military trainees that adapts to individual learning speeds. ‘It’s about helping both humans and machines understand each other’s strengths and weaknesses,’ he said.

Ethical concerns: Who keeps a human in the loop?

The U.S. insists on a ‘human-in-the-loop’ for lethal AI decisions — but China may not, experts warn.

‘Here in the U.S., we are focused on ethical and legal decisions on the battlefield… our adversaries… might not be as worried about keeping a human in the loop,’ said RJ Blake, a former defense official.

Hill echoed this concern, emphasizing the need for AI systems to be interpretable and stress-tested rigorously.

‘We need protocols aligned with American values,’ he said. ‘The AI must be explainable and capable of justifying its conclusions — and humans must recognize when those systems are outside their trained boundaries.’

A new era of warfare

As AI redefines warfare — from cyber and command systems to autonomous weapons and biotech — it’s not just a war machine being built. It’s a system of systems, blending digital, physical and biological domains.

Should Beijing move against Taiwan, the battlefield may no longer be measured in tanks or missiles — but in algorithms, networks and gene sequences.

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Orange juice prices could rise by 20% to 25%, according to Johanna Foods, a small U.S. business suing the White House over tariffs threatened against Brazil.

President Donald Trump said in a July 9 letter to President Luiz Inacio Lula da Silva that he would apply a 50% tariff to all imports from Brazil starting Aug. 1.

Trump said the high tariff rate was necessary because of ‘the way Brazil has treated former President Bolsonaro.’

Prosecutors in Brazil have alleged that Bolsonaro was part of a scheme that included a plan to assassinate the country’s current president, who defeated him in the last election, and Supreme Federal Court Justice Alexandre de Moraes. Bolsonaro has denied any wrongdoing.

Trump also said Brazil was censoring U.S.-based social media platforms and was running “unsustainable Trade Deficits” with the United States.

However, the United States has a goods trade surplus with Brazil — more than $7 billion last year, according to data from the Office of the U.S. Trade Representative.

Johanna Foods, which says it supplies nearly 75% of all private label “not from concentrate” orange juice to customers in the U.S., says those arguments do not constitute an economic emergency and therefore the president does not have the power to levy this tariff.

“The Brazil Letter does not refer to any legal or statutory authority under which the Brazil Tariff can be imposed by the President,” the company’s attorney Marc Kaplin writes in a filing.

“The Brazil Letter does not constitute a proper executive action, is not an Executive Order, does not reference or incorporate any Executive Orders or modify or amend any existing Executive Order,” the attorney continued.

The company said some of its customers include Walmart, Aldi, Wegman’s, Safeway and Albertsons.

Johanna Foods CEO Robert Facchina said the duty would result in an estimated $68 million hit, exceeding any single year of profits since the company was created in 1995.

“The Brazil Tariff will result in a significant, and perhaps prohibitive, price increase in a staple American breakfast food,” the lawsuit reads.

“The not from concentrate orange juice ingredients imported from Brazil are not reasonably available from any supplier in the United States in sufficient quantity or quality to meet the Plaintiffs’ production needs.”

Orange juice prices have already been rising across the country. Over the last year, the average price of a 16-ounce container rose 23 cents, or more than 5%, to $4.49, according to the Bureau of Labor Statistics.

Orange juice futures, the global benchmark that tracks the commodity, have also jumped recently. During the last month, they are up nearly 40%, with most of that increase coming on the heels of Trump’s threat.

Brazil’s Supreme Court ruled last month that social media companies can be held accountable for the content posted on their platforms. Elon Musk’s social media site, X, was also briefly banned last year in Brazil after Musk refused to comply with a court request to ban some accounts.

Facchina says layoffs of union manufacturing employees, administrative staff and a reduced production capacity at the company’s Flemington, New Jersey, and Spokane, Washington, facilities are near-certain should these tariffs go into effect. Johanna Foods employs almost 700 people across Washington state and New Jersey.

Brazil was the 18th-largest source of U.S. goods imports last year, with more than $42 billion worth of imports entering the country, according to U.S. International Trade Commission data.

In its legal filing, the company asks the Court of International Trade to declare that the International Emergency Economic Powers Act does not grant Trump the statutory authority to impose the tariffs against Brazil, and that the president has not identified a national emergency or “unusual and extraordinary threat” as required by the IEEPA law to impose the tariffs.

In response to the lawsuit, a White House spokesperson said the administration is ‘legally and fairly using tariff powers that have been granted to the executive branch by the Constitution and Congress to level the playing field for American workers and safeguard our national security.”

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Here’s a quick recap of the crypto landscape for Monday (July 21) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$116,854, down by 1.2 percent over the last 24 hours and its lowest valuation of the day. The highest valuation today was US$119,100.

Bitcoin price performance, July 21, 2025.

Chart via TradingView.

The signing of the GENIUS Act, which will regulate stablecoins with one-to-one reserves, sparked renewed investor confidence in stablecoins, while Bitcoin pulled back slightly.

Last week’s spot-Bitcoin exchange-traded fund (ETF) inflows reached roughly US$2.2 billion, supporting market momentum. Analysts note institutional interest remains strong but still has room to grow.

Ethereum (ETH) was priced at US$3,733.95, down by 0.7 percent over the past 24 hours. Its lowest valuation as of Monday was US$3,731.27, and its highest was US$3,848.92.

Altcoin price update

  • Solana (SOL) was priced at US$193.61, up by 6.3 percent over 24 hours. Its lowest valuation on Monday was US$191.12 as the markets opened for the day, and its highest was US$198.29.
  • XRP was trading for US$3.54, up 0.2 percent in the past 24 hours. The cryptocurrency’s lowest valuation was US$3.53 as the markets opened, and its highest was US$3.64.
  • Sui (SUI) is trading at US$3.95, up by 0.1 percent over the past 24 hours. Its lowest valuation of the day was US$3.96 and its highest was US$4.09.
  • Cardano (ADA) was trading at US$0.8794, up by 0.6 percent over 24 hours, and its lowest violation of the day. Its highest was US$0.9295.

Today’s crypto news to know

Crypto funds record all-time high weekly inflows

Digital asset investment products posted an impressive US$4.39 billion in inflows last week, marking the highest weekly total on record, according to data from CoinShares.

This eclipses the previous high of US$4.27 billion set in late 2024, highlighting a fresh wave of institutional demand.

Ethereum products accounted for US$2.12 billion — their strongest weekly showing ever — nearly matching the US$2.2 billion inflow into Bitcoin funds. Analysts have attributed the spike to increasing confidence in the cryptocurrency, bolstered by improving US regulatory clarity and ongoing ETF demand.

Altcoins like Solana and Avalanche also saw gains, but ETH led the market by volume and momentum. The current 14 week streak of inflows has now pushed 2025’s year-to-date total beyond 2024’s full-year inflows.

CoinShares notes that Ethereum’s US$6.2 billion year-to-date figure now represents 23 percent of total ETH assets under management, underscoring a shift in portfolio allocation trends.

Ether Machine set to raise over US$1.6 Billion in Nasdaq debut

The Ether Reserve, a new institutional vehicle holding Ethereum, is going public via a merger with energy investment firm Dynamix (NASDAQ:DYNX). The deal, which will list the combined entity under the name ‘The Ether Machine” on the Nasdaq, is expected to raise more than US$1.6 billion and launch with 400,000 ETH on its balance sheet.

This would make it the largest publicly traded Ethereum-holding entity to date.

Shares of Dynamix surged over 100 percent in premarket trading following the announcement.

Investors backing the deal include major industry names such as Blockchain.com, Kraken, and Pantera Capital, who have committed over US$800 million through an upsized common stock offering.

Ether has climbed steadily amid regulatory clarity around stablecoins and new institutional inflows.

Andrew Keys, formerly of ConsenSys, will chair the board. Once finalized, the company will trade under the ticker “ETHM,” with deal closure expected by Q4 2025.

BitGo submits IPO filing

Digital asset custodian BitGo announced that it has confidentially submitted a draft registration statement on Form S-1 to the Securities and Exchange Commission (SEC) for a proposed IPO of its Class A common stock.

The filing adds the company to a growing list of crypto companies seeking public exposure. Bullish, a crypto exchange, recently filed for an IPO with the SEC, with plans to list on the New York Stock Exchange, and crypto asset manager Grayscale also submitted a filing to the SEC earlier this month.

GameSquare expands digital asset treasury

Building on its previously outlined ETH strategy, GameSquare Holdings (NASDAQ:GAME), a next-generation media and technology company, has expanded its digital asset treasury, with its board of directors approving an increase in the program’s authorization from US$100 million to US$250 million.

In an press release, the company explained that this expanded framework now includes a new NFT yield strategy, allocating an initial US$10 million. The company aims to deploy capital into high-quality Ethereum-based assets to generate sustainable stablecoin yields, targeting a 6- to 10 percent return.

CEO Justin Kenna emphasized that this initiative, developed over months of planning, represents “the future of capital strategy for modern media companies,” focused on generating “real on-chain yield that funds innovation.”

‘We are excited to be among the first public companies to include NFTs as part of a diversified digital asset strategy, Kenna added. “This reflects the innovative approach to our treasury management initiatives. With deep experience building in-game and real-world creative environments, GameSquare is uniquely positioned to understand the cultural and economic value of these digital assets.”

Aave to launch centralized services

Major crypto lending platform Aave will soon launch a centralized version of its services on Kraken’s Ink blockchain.

An Aave request for comment for the deployment of a whitelabel version of Aave v3 for the Ink Foundation, the organization behind the Ink blockchain, was approved with 99.8 percent of the votes cast in favor. An Aave Improvement Proposal (AIP) will be drafted next, followed by an on-chain vote. This partnership aims to expand Aave’s reach into institutional lending, generating new revenue for the Aave community.

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.

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The second quarter of 2025 brought more downward pressure for lithium prices, as values for lithium carbonate continued to contract, slipping to their lowest level since January 2021.

After starting the year at US$10,484.37 per metric ton, battery-grade lithium carbonate rose to a year-to-date high of US$10,853.85 on January 27. Prices sank through Q1 and most of Q2, bottoming at US$8,329.08 on June 24.

Lithium hydroxide followed a similar trajectory, with Fastmarkets analysts noting an 89 percent drop in prices for battery-grade lithium hydroxide monohydrate between 2022 and 2025.

“The lithium industry is definitely navigating a period of complexity,” said Paul Lusty, head of battery raw materials at Fastmarkets, at Fastmarkets’ Lithium Supply & Battery Raw Materials conference in June.

“We’re facing headwinds, no doubt, and we’re also seeing quite a lot of negative or bearish sentiment widespread in the market, and I think at times, it’s amplified by voices that really overlooked the phenomenal levels of demand that we’re seeing in many aspects of the market.”

However, Lusty explained that despite facing a multi-quarter price slump, lithium’s long-term drivers remain robust, and are primarily driven by what he described as “mega trends.”

“The fundamentals are really still very strong, and these are anchored in some very powerful, mega trends that we see developing within the global economy; the urgent drive for climate change mitigation, the once in a generational shift in the global energy system, and also the rise of energy intensive technologies such as artificial intelligence,” he said.

Chinese expansions behind lithium oversupply

Although the long-term outlook for lithium remains positive, oversupply and market saturation have added headwinds during the first half of 2025. Demand, particularly from the electric vehicle (EV) sector, remains strong, but global lithium mine supply has outpaced it, rising by an estimated 22 percent in 2024 alone.

“We’re forecasting similar year on year increases for both 2025 and 2026 equivalent to around 260,000 tons of additional (lithium carbonate) alone just this year,” explained Fastmarkets’ Lusty.

“Chinese producers have been particularly aggressive in terms of expanding capacity.” Australia, Argentina and Chile are also driving growth alongside emerging producers like Brazil, and several African nations.

According to data from the US Geological Survey, mined supply from China increased 14.85 percent from 35,700 metric tons in 2023 to 41,000 in 2024, however an asterisk notes that the tallies are estimates, and exact numbers may be “withheld to avoid disclosing company proprietary data.”

For Fastmarkets, the total is likely higher.

“China has rapidly expanded its mining footprint, boosting domestic lithium output by 55 percent since 2023 and is on track to surpass Australia as the world’s top producer by 2026,’ said Lusty. “One of the most notable developments has been the rise of African supply that we started to see over the last two years,” said Lusty.

Africa’s emerging role in the lithium sector

The importance of African supply to the future lithium market was also the topic at Claudia Cook’s presentation, ‘The Lithium Market Shift: China’s and Africa’s Role in Redefining Supply.’

During the 20 minute overview Cook explained that China is increasingly looking to African hard-rock lithium supply to provide feedstock for the country’s growing chemical segment.

So much so that by 2030 18 percent of global hard-rock lithium supply will originate from the continent.

Additionally, the continent will see a 170 percent uptick in hard-rock lithium supply output between 2025 and 2035, according to Cook, who attributes the massive expansion to China’s need to diversify its lithium sources due to domestic supply constraints. To facilitate this demand, China has invested heavily in African production.

“In 2025, 79 percent of African output will be China owned,” she said. “That percentage reduces down to 65 percent in 2035 however, with the increase in tonnage, even though there’s a reduction in percentage, there’ll be an almost doubling in terms of how much that’s actually being put out.”

Regionally, Cook pointed to Zimbabwe and Mali as the country’s poised to see the most growth.

In 2025, Zimbabwe alone is expected to account for 70 percent of African lithium supply, though its share is projected to fall to 43 percent by 2035 as new countries come online.

Despite that shift, African output overall is set to rise significantly, with nations like the DRC, Ethiopia, and Namibia expected to begin production by 2035, said Cook.

Lithium demand surges, but prices lag

The rapid increase in supply has pushed prices to multi year lows, levels that are unsustainable and fail to incentivize new production. Despite this demand remains strong and is expected to grow.

According to the US Geological Survey, global consumption of lithium in 2024 was estimated to be 220,000 tons, a 29 percent increase from revised consumption of 170,000 tons in 2023.

Much of the demand story is attributed to soaring global EV sales, which were up 35 percent in Q1. Lithium consumption in this segment is projected to grow 12 percent annually through 2030.

“Globally, electric car sales this year are forecast to surpass about 20 million units in 2025 representing more than a quarter of all cars sold,” said Lusty.

Future lithium demand remains underpinned by deep structural shifts in global energy consumption.

“We’re witnessing extraordinary battery demand tied to the electrification of the global economy and the rise of renewable energy,” said Lustyt, pointing to surging electricity needs and the increasing role of storage solutions.

In 2024, global electricity demand rose by over 4 percent, adding 1,100 terawatt-hours to the grid, more than Japan’s total annual consumption. This marks the largest year-on-year increase outside post-recession rebounds and reflects broad trends such as greater electricity access, the proliferation of energy-intensive appliances, the expansion of artificial intelligence and data centers, and the shift to electric-powered heavy manufacturing.

Notably, 95 percent of future demand growth is expected to be met by renewables like solar and wind, further boosting the need for battery energy storage systems (BESS) to manage intermittency and stabilize grids.

“Batteries are now essential — not just for EVs, but to balance power systems across sectors,” Lusty added.

Data centers, in particular, are becoming a key growth driver. Since 2017, their electricity use has grown 12 percent annually, according to Fastmarkets, with the US seeing half its centers concentrated in five regional hubs.

By 2030, BESS demand from data centers alone could represent a third of the market, with a projected compound annual growth rate of 35 percent over the next five years.

Overall, lithium demand is forecast to grow 12 percent annually through 2030, underpinned by EV adoption, renewable integration, and digitalization. While China currently accounts for 60 percent of global demand, that dominance is expected to wane as other regions scale up.

“The long-term fundamentals remain intact,” he said, “and it’s hard to envision a future where lithium isn’t central to the global economy.”

What’s next for lithium in 2025?

After June saw prices slip to year-to-date lows, lithium saw a brief uptick in early July amid speculation about supply cuts from Australian miners Mineral Resources (ASX:MN,OTC Pink:MALRF) and Liontown Resources (ASX:LTR,OTC Pink:LINRF). However, gains were reversed after the rumors were denied.

In the US, policy uncertainty continues to weigh on sentiment. A rollback of EV tax credits under the Trump administration could spark a short-term sales bump, but longer-term support appears fragile.

New fair competition rules in China, aimed at curbing downstream dumping, have fueled speculation about broader impacts. While upstream effects are unclear, the policy contributed to July’s brief price rise.

“The nascency of the lithium market means that it is prone to be led by sentiment,” wrote Cook in a monthly update.

‘We have especially seen this at play this month as prices ticked up momentarily mainly from rumors of supply cuts, highlighting how twitchy and reactive the market currently is,’ she continued.

‘These rumors have since been denied … However, with healthy inventory levels and continued ramp-up of production, the reported supply cuts, even if they proved true, may not be enough to dip the market into a deficit.”

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

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John Feneck, portfolio manager and consultant at Feneck Consulting, outlines his latest thoughts on the gold, silver, platinum and copper markets.

With prices on the rise, he encouraged investors to get involved if they aren’t already.

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

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