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Lode Gold Engages Strategic Advisors to Advance Development of the Fremont Mine in Gold County- Mariposa, California

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Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: LODFF) (‘Lode Gold’ or the ‘Company’) is pleased to announce that it has engaged experienced capital markets and strategic advisors to support the advancement of its Fremont Mine in Mariposa, California. These advisors will assist in securing strategic investors and partners as the Company moves into the next phase of development.

As part of its current development strategy, Lode Gold is also engaging with mining contractors and progressing with engineering evaluations aimed at optimizing the mine plan and initiating permitting. The Company’s evaluation is focused on three key priorities:

  • High-grading during early production years to enhance initial project economics
  • Scaling production to over 100,000 ounces per year in later phases

‘Our objective is to take a disciplined and scalable approach to developing the Fremont Project,’ said Wendy T. Chan, CEO and Director at Lode Gold. ‘By securing the right strategic partnership, we will focus on various technical initiatives to optimize project economics, expedite permitting and get to production in near term. Being in a jurisdiction that is now increasingly aligned with domestic resource development, Fremont presents an interesting investment opportunity.’

The Fremont Mine is an advanced-stage exploration and development asset, on 100% private and patented land. It is located in Mariposa, an Opportunity Zone designated to attract investments with tax incentives provided by Trump’s Administration. The 2023 Preliminary Economic Assessment (PEA) outlined positive project economics at a gold price of USD $1,750, based on an annual production rate of approximately 130,000 ounces. More recently, an NI 43 -101 compliant mineral resource estimate (MRE 2025) was completed with a new geological model that separately evaluated vein and stockwork mineralization. Only 8% of the total mineral resource, filed at SEDAR+ (April 2025) has been extracted, mostly in the first 250 m. At a 1 g/t cut-off, the average true width is 53 m (at 3 g/t cut-off, the width is 16.8 m).

Upcoming Near Term 2025-2026 Catalysts:

  • Rehabilitation of 2 km underground workings
  • Expedite access to two adits, out of a total of 14
  • Channel sampling to upgrade resources to M&I
  • Metallurgy and Recovery Studies
  • Geotechnical work and rock mechanics assessments
  • Drilling 3,000 m to initiate Pre-Feasibility Study
  • Completion of Pre-Feasibility Study (underground bulk mining and other optimized methods will be evaluated)

About Lode Gold

Lode Gold (TSXV: LOD) is an exploration and development company with projects in highly prospective and safe mining jurisdictions in Canada and the United States.

In Canada, its assets in Yukon sit on the southern portion of the prolific Tombstone Belt. It covers 99.5 km2 across a 27 km strike.  Over 4,500 m have been drilled with confirmed gold endowment and economic drill intercepts over 50 m. There are four reduced-intrusive targets (RIRGS), in addition to sedimentary-hosted orogenic exploration gold.

In New Brunswick, Lode Gold, through its subsidiary 1475039 B.C. Ltd. (soon to be spun out into Gold Orogen), has created one of the largest land packages with its Acadian Gold Joint Venture, consisting of an area that spans 445 km2 with a 44 km strike. It has confirmed gold endowment with mineralized rhyolites.

In preparation for the spin-out, NI 43 101 technical reports have been prepared for all assets in Yukon and New Brunswick in 2024.

In the United States, the Company is focused on its advanced exploration and development asset, the Fremont Mine in Mariposa, California. According to the NI 43- 101 Compliant 2025 MRE, the asset contains 1.3 Moz at 4.4 g/t (3 g/t cut-off) with an average true width: 16.8 m.

Fremont was previously mined at 10.7 g/t. During gold mining prohibition in WWII, its mining license was suspended. Only 8% of the resource identified in the 2025 MRE has been extracted. This asset has exploration upside and is open at depth (three step-out holes at 1,300 m hit structure and were mineralized) and on strike. This is a brownfield project with over 43,000 m drilled, 23 km of underground workings and 14 adits. The project has excellent infrastructure and is close to electricity, water, roads, railhead and port.

Recently, the Company completed an internal scoping study, with a strategic pivot to 100% underground mining. Previously, in March 2023, the Company completed an NI 43-101 Preliminary Economic Assessment (‘PEA’) with an open pit and underground combination mine. The NI 43-101 technical reports are available on the Company’s profile on SEDAR+ (www.sedarplus.ca) and the Company’s website (www.lode-gold.com).

Qualified Person Statement

The scientific and technical information contained in this press release has been reviewed and approved by Jonathan Victor Hill, Director, BSc (Hons) (Economic Geology – UCT), FAusIMM, and who is a ‘qualified person’ as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’).

ON BEHALF OF THE COMPANY
Wendy T. Chan 
CEO & Director

Information Contact:

Winfield Ding 
CFO
info@lode-gold.com
+1-(604)-977-GOLD (4653)

Jenna Mosher 
Investor Relations
jenna@lode-gold.com
+1 (604) -977-GOLD (4653) 

Cautionary Note Related to this News Release and Figures

This news release contains information about adjacent properties on which the Company has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company’s properties.

Cautionary Statement Regarding Forward-Looking Information

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.

This news release includes ‘forward-looking statements’ and ‘forward-looking information’ within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the use of proceeds, advancement and completion of resource calculation, feasibility studies, and exploration plans and targets. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as ‘anticipate’, ‘believe’, ‘plan’, ‘estimate’, ‘expect’, ‘potential’, ‘target’, ‘budget’ and ‘intend’ and statements that an event or result ‘may’, ‘will’, ‘should’, ‘could’ or ‘might’ occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: the status of community relations and the security situation on site; general business and economic conditions; the availability of additional exploration and mineral project financing; the supply and demand for, inventories of, and the level and volatility of the prices of metals; relationships with strategic partners; the timing and receipt of governmental permits and approvals; the timing and receipt of community and landowner approvals; changes in regulations; political factors; the accuracy of the Company’s interpretation of drill results; the geology, grade and continuity of the Company’s mineral deposits; the availability of equipment, skilled labour and services needed for the exploration and development of mineral properties; currency fluctuations; and impact of the COVID-19 pandemic.

There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include a deterioration of security on site or actions by the local community that inhibits access and/or the ability to productively work on site, actual exploration results, interpretation of metallurgical characteristics of the mineralization, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, unknown impact related to potential business disruptions stemming from the COVID-19 outbreak, or another infectious illness, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators, including those described under the heading ‘Risks and Uncertainties’ in the Company’s most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/256755

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US airstrikes leave a mark on Iran’s nuclear sites, Maxar satellite images reveal

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Fresh satellite imagery released by Maxar Technologies shows significant damage at three of Iran’s key nuclear sites, Fordow, Natanz, and Isfahan, just days after U.S. B-2 stealth bombers conducted strikes ordered by President Donald Trump.

The new photos, released on June 24, provide the clearest post-strike visuals to date, showing the precision and depth of the U.S. assault on Iran’s nuclear infrastructure.

At the heavily fortified Fordow Fuel Enrichment Facility, located deep beneath a mountain near Qom, satellite views reveal multiple craters along the primary access roads and directly at the entrances to tunnel complexes. 

Several perimeter buildings were destroyed outright, and one crater can be seen blasted into the access road leading to the facility.

The Isfahan Nuclear Technology Center also shows signs of recent damage. An overview image highlights new destruction at the surface, while detailed shots capture tunnel entrances that appear to have been struck directly, echoing earlier reporting that the operation aimed to neutralize buried infrastructure previously unreachable by conventional air power.

Meanwhile, at Natanz, a site known for its history with the Stuxnet cyberattack and long a target of Israeli and American scrutiny, two craters believed to have been caused by U.S. ordnance now appear filled and covered with dirt. 

These strikes had reportedly targeted the underground centrifuge halls that are central to Iran’s uranium enrichment operations.

IAEA Director General Rafael Grossi confirmed that key buildings and underground systems at all three sites were hit. 

American officials say Iran’s nuclear program has been severely set back.

Trump has claimed a ‘very successful’ mission.

In addition to the nuclear sites hit by the U.S., Maxar’s images also documented separate airstrike damage in the capital city of Tehran. 

The images show widespread destruction believed to be linked to suspected nuclear program buildings near Tehran’s Shahid Rajaee University.

Fox News’ Greg Norman contributed to this report.

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Germany, Italy Face Pressure to Repatriate US$245 Billion in Gold as Trust in US Custody Wavers

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Germany and Italy are facing mounting domestic pressure to repatriate more than a third of their gold reserves — worth an estimated US$245 billion — currently held in New York by the US Federal Reserve.

Germany and Italy hold the world’s second and third largest gold reserves, trailing only the US. A substantial portion of this metal is stored overseas, primarily in Manhattan’s Federal Reserve Bank.

This longstanding arrangement, based largely on postwar financial realities and New York’s role as a major global gold-trading hub, is now being questioned by officials and commentators across Europe’s political spectrum.

Fabio De Masi, a former member of European Parliament now affiliated with Germany’s new left-wing populist BSW party, told the Financial Times there are “strong arguments” to bring more of Germany’s bullion back home.

Taxpayers Association of Europe (TAE) President Michael Jäger echoed the same sentiments last month: ‘Trump wants to control the Fed, which would also mean controlling the German gold reserves in the US,’ he told Reuters.

‘It’s our money, it should be brought back.’

Similar calls are being echoed in Italy, where economic commentator Enrico Grazzini recently warned that “leaving 43 per cent of Italy’s gold reserves in America under the unreliable Trump administration is very dangerous for the national interest.’ He was writing in Il Fatto Quotidiano ahead of Prime Minister Giorgia Meloni’s visit to Washington.

Fueling this renewed concern are statements made by US President Donald Trump, who earlier this month warned that he may have to “force something” if the US Federal Reserve does not lower interest rates.

Trump has also made direct appeals to the Department of Energy to stimulate oil production, signaling what critics interpret as increasing politicization of independent institutions like the Fed.

The TAE has urged both Germany and Italy to reconsider their reliance on the Fed. “We are very concerned about Trump tampering with the Federal Reserve Bank’s independence,” Jäger said. “Our recommendation is to bring the (German and Italian) gold home to ensure European central banks have unlimited control over it at any given point in time.”

Public skepticism over the safety of foreign gold holdings is not new.

In Germany, a grassroots movement that began in 2010 eventually prompted the Bundesbank to repatriate 674 metric tons of gold from New York and Paris between 2013 and 2017. The operation, which cost 7 million euros, resulted in half of Germany’s reserves being stored domestically by 2020. Nevertheless, 37 percent of its gold remains in the US.

Meloni’s Brothers of Italy party once echoed similar sentiments while in opposition, pledging in 2019 to bring Italy’s gold back home. But since assuming power in 2022, Meloni has largely gone silent on the issue.

Skepticism about US stewardship is not limited to political rhetoric.

According to the World Gold Council’s latest survey on central bank gold reserves, 43 percent of the central banks surveyed plan to increase their gold holdings in the coming year — a record high.

The overwhelming majority of respondents (95 percent) expect global central bank gold reserves to keep rising, citing gold’s performance during crises, its inflation-hedging capabilities and its role as a diversifier. Notably, 59 percent of central banks surveyed reported holding at least part of their gold reserves domestically, up from 41 percent in 2024.

Although the Bank of England remains the most popular vaulting location, the World Gold Council’s survey reveals growing caution over US custodianship: only 7 percent of respondents said they planned to increase domestic storage last year, but the figure jumped significantly in 2025.

New bill calls for US gold audit

Adding another layer of complexity is the push in Washington for greater transparency about America’s gold reserves. House Bill 3795, introduced by Representative Thomas Massie and backed by three co-sponsors, calls for the first comprehensive audit of US gold holdings in over six decades.

The bill would mandate a full inventory and assay of gold stored at Fort Knox, West Point and the Denver Mint, as well as a forensic accounting of all transactions involving US gold over the last 50 years.

“The question as to who actually owns the bars outright is really the most crucial question. And if it is shown that America does not actually own the gold, if the gold is there, but America does not own it, (or) if it has been pledged or leased or swapped or otherwise encumbered in any way … this would be a huge, huge detriment to the US and the global economy.”

Cortez emphasized that prior audits of US gold reserves have been insufficient.

“These aren’t audits that have been done on the metal itself, but rather the storage containers that the metal is supposedly stored in,’ he said. “Owners or operators of a depository who functioned like this would go to jail.”

He also pointed out that much of the gold held by the US government is impure by modern market standards, having been melted down from older coinage. That means even if the bars are there, refinement questions will remain.

While Trump has not explicitly endorsed HB 3795, he has expressed interest in the issue, stating, ‘We’re actually going to Fort Knox to see if the gold is there. Because maybe somebody stole the gold. Tons of gold.’

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

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Top 10 Copper-producing Companies

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Copper miners with productive assets have much to gain as supply and demand tighten.

In May 2024, the copper price hit a new all-time high of US$10,954 per metric ton (MT) on the London Metal Exchange and US$5.20 per pound on the COMEX on the back of increasing demand and growing supply concerns.

Copper is one of the most important resources for the energy transition. However, in recent years, demand for the red metal has outpaced mining supply. While construction and electrical grids have long been major markets for copper, today the rise in demand for electric vehicles, EV charging infrastructure and energy storage applications are emerging drivers of copper consumption.

Another trend driving future copper demand is the rapid urbanization in the Global South, as rural populations migrate to cities, putting pressure on electricity grids.

Due to the challenges associated with finding, developing, permitting and mining copper deposits, the higher demand is being met by slow growth of new supply. Mines that are in operation tend to be quite large and operate for decades as copper producers concentrate on mine expansions and brownfield projects aimed at extending mine lifetimes.

Given those factors, investors should keep an eye on the world’s top copper miners and their operations.

This list of the 10 largest copper-mining companies in the world is ranked by attributable copper production for 2024.

1. BHP (ASX:BHP,NYSE:BHP,LSE:BHP)

Copper production: 1.46 million metric tons

BHP is one of the world’s largest mining companies, and its global portfolio of assets includes significant copper mining operations in Chile, Australia and Peru.

According to the company’s quarterly operational review data, the mining giant reported consolidated copper production of 1.46 million metric tons across the calendar year 2024.

Its most significant copper asset is the Escondida mine, the world’s largest copper mine. BHP holds a 58 percent stake in the Chilean operation, which, according to MDO data, produced 2.04 billion pounds of copper in 2024. The company wholly owns the Pampa Norte operations in Chile, which produced 586 million pounds of copper in 2024.

BHP also owns the Olympic Dam polymetallic mine, the largest mine in Australia. The South Australian mine hosts one of the world’s largest copper deposits as well as the largest uranium deposit. In 2023, BHP expanded its portfolio in the state with its acquisition of OZ Minerals and its Prominent Hill and Carrapateena copper operations.

2. Codelco

Copper production: 1.44 million metric tons

The Chilean state-owned Codelco is the world’s third-largest producer with copper production of 1.44 million metric tons in 2024. According to its 2024 annual report, its copper output increased 1.2 percent from 1.42 million metric tons in 2023.

Its largest asset is the Chuquicamata mine located in Northern Chile, between 2017 and 2021 annual production was in the 700 million to 850 million pound range. However, lower grades in recent years have led to production falling below 600 million pounds. In 2024, Chuquicamata increased slightly to 637 million pounds.

The mine transitioned from an open pit to an underground mine beginning in 2019. In its report, the company stated that phase one of its continuity infrastructure project had reached 73 percent completion and that plans for the second phase were undergoing feasibility studies.

The company’s other significant Chilean mines include El Teniente, Quebrada Blanca and Andina.

3. Freeport-McMoRan (NYSE:FCX)

Copper production: 1.26 million metric tons

Freeport-McMoRan is consistently ranked among the world’s top copper producers, and its share of copper production from its mines totaled 1.26 million metric tons of copper in 2024. The company reported producing 4.21 billion pounds, or 1.9 million metric tons, of the red metal, calculated on a 100 percent basis for all operations except its Morenci joint venture.

The largest contributor to its output is the Grasberg copper-gold mine in Indonesia. The mine itself is a joint venture between Freeport and state-owned Indonesia Asahan Aluminum, with the entities holding interests of 48.76 percent and 51.24 percent respectively. According to MDO, copper output for the mine in 2024 totaled 1.8 billion pounds.

Grasberg has undergone a transition from an open pit to an underground block cave, and expansion work continues at the site. As of the close of 2024, the mine had 469 open drawbells.

Additionally, Freeport holds a 55 percent stake in the Cerro Verde copper-molybdenum complex in Peru. The mine routinely produces between 800 million and 1 billion pounds of copper and is expected to be in operation until 2052.

Its largest US based operation is its 72 percent owned Morenci mine in Arizona, which produced 700 million pounds in 2024. It also owns the Safford and Sierrita mines in the same state.

4. Glencore (LSE:GLEN,OTC Pink:GLCNF)

Copper production: 951,600 metric tons

Mining major Glencore’s copper production dipped by 6 percent in 2024 to 951,600 metric tons from the 1.01 million metric tons produced in 2023. The company’s 2024 annual report attributed the decline to lower planned production at its Antapaccay and Collahuasi mines due to factors including lower grades, water constraints and geotechnical challenges.

Located along Chile’s coast, Collahuasi is the company’s largest operation, a 44/44/12 joint operation between Glencore, Anglo American (LSE:AAL,OTCQX:NGLOD) and Japan’s Mitsui & Co. (OTC Pink:MITSF,TSE:8031). The mine produced 558,600 metric tons of copper in 2024.

The partners are working to build a large-scale desalination plant designed to help overcome water shortage issues. The plant reached 86 percent completion in 2024 and is expected to begin operating in 2026. Once open, it will provide 1,050 litres of desalinated water per second to the mine via a 194 kilometer pipeline.

Other significant copper-producing assets in the company’s portfolio include Antamina in Peru, Mount Isa in Australia and the Katanga Complex in the Democratic Republic of the Congo.

5. Southern Copper (NYSE:SCCO)

Copper production: 883,462 metric tons

A majority-owned, indirect subsidiary of Grupo Mexico (OTC Pink:GMBXF), Southern Copper recorded 883,462 metric tons of total copper production for 2024, a 6.9 percent increase over 2023. In the company’s 2024 results, the company attributed the increase to higher production across all operations, with a 10.7 percent increase from its Peruvian assets and a 4.3 percent increase from Mexican production.

The company operates major copper mines in Peru and Mexico and has exploration projects in Argentina, Chile, Ecuador, Mexico and Peru.

Its largest copper-producing asset is the Buenavista mine in Northern Mexico, which sits atop one of the world’s largest porphyry copper deposits. According to MDO, the site produces approximately 700 billion to 750 billion pounds of copper per year.

Its other copper operations include the Cuajone and Toquepala mines in Peru and the La Caridad mine in Mexico.

6. Anglo American (LSE:AAL,OTCQX:NGLOD)

Copper production: 772,700 metric tons

British miner Anglo American reported a 6.5 percent decrease in copper production to 772,700 metric tons from 826,200 metric tons in 2023.

The company attributed the decline to lower recovery and grades at the Collahuasi and Los Bronces operations in Chile, noting that the planned closure of the Los Bronces processing plant also impacted production. The company holds a 44 percent stake in Collahuasi and 50 percent in Los Bronces.

In addition to Collahuasi, the company also owns a 60 percent stake in the Quellaveco mine in Peru, with Mitsubishi owning the remaining 40 percent. The open pit mine started operating in 2022 and, according to MDO, produced 675 million pounds of copper in 2024.

It also owns a 50 percent stake in the El Soldado mine in Chile, which it operates in partnership with Mitsui, which holds a 30 percent stake, and Mitsubishi Materials (OTC Pink:MIMTF), which holds the remaining 20 percent. Data from MDO shows that the mine produced 48,200 metric tons of copper in 2024.

7. KGHM Polska Miedz (FWB:KGHA.F)

Copper production: 729,700 metric tons

Poland’s KGHM Polska Miedz Group has operations in Europe, North America and South America, and says that it controls over 40 million metric tons of copper ore resources worldwide. In 2024, KGHM produced 729,700 metric tons of copper, a slight increase from the 710,900 metric tons of copper produced in 2023.

According to MDO, KGHM’s largest operation is the Polkowice-Sieroszowice mine in Western Poland. The mine has been in operation since 1968 and produces approximately 430 million to 440 million pounds of copper annually.

The company’s Polish operations also include the Rudna mine, which produced 338 million pounds of copper last year, and the Lubin mine, which produced 156 million pounds.

Other options under the KGHM banner include the Robinson mine in Nevada, United States, and the 55 percent owned Sierra Gorda mine in Chile.

8. CMOC Group (OTC Pink:CMCLF,HKEX:3993)

Copper production: ~502,600 metric tons

CMOC Group is a new addition to the top 10 after its copper production jumped significantly in 2024, with its share of production from its joint venture copper-cobalt mines in the Democratic Republic of the Congo totaling approximately 502,600 metric tons. On a 100 percent basis, the company reported annual copper production of 650,161 metric tons.

The majority of CMOC’s copper production came from its Tenke Fungurume copper-cobalt mine, an 80/20 joint venture with the state-owned mining firm Gecamines. According to MDO data, the mine has experienced significant growth over the past few years, ramping up from 400 million pounds of copper in 2020 to 618 million pounds in 2023. In 2024, Tenke Fungurume’s copper production soared to 992 million pounds, or 450,138 metric tons.

Its other DRC mine is Kisanfu, a 71/24/5 joint venture with Chinese battery manufacturer Contemporary Amperex Technology (SZSE:300750) and the DRC government. The mine produced 200,013 metric tons of copper cathode in 2024, up substantially from 114,000 in 2023.

9. Antofagasta (LSE:ANTO)

Copper production: 448,800 metric tons

Antofagasta’s share of copper production from its four joint venture operations in Chile totaled 448,800 metric tons in 2024.

The company’s largest operation is its 60 percent owned Los Pelambres mine, a joint venture with Mitsubishi. According to MDO, Los Pelambres’ copper production totaled 320,000 metric tons in 2024, up from 300,000 the previous year.

Its Centinela mine is another significant producer, with 224,000 metric tons of copper mined in 2024. The company is constructing a second concentrator at Centinela that, once it comes online in 2027, should add 144,000 metric tons of copper production annually and extend Centinela’s mine life by 15 years to 2051.

The company’s other Chilean joint ventures are the Antucoya and Zaldivar mines.

10. Teck (TSX:TECK.A,TECK.B,NYSE:TECK)

Copper production: 358,910 metric tons

Rounding out the top 10 is Canada’s Teck, which increased consolidated copper production by 50 percent in 2024, reaching 446,000 metric tons. On an attributable basis, the copper company’s production totaled 358,910 metric tons in 2024.

Much of the gain came from the ramp-up of the Quebrada Blanca mine in Chile. The mine started production in 2023 and produced just 122 million pounds of copper that year. 2024 saw a significant advancement, with the mine producing 458 million pounds of the red metal.

Teck holds a 60 percent ownership stake in the mine, while Japan’s Sumitomo (OTC Pink:SSUMF,TSE:8053) controls a 30 percent stake and Chile’s state-run Codelco owns the final 10 percent.

Teck also owns the Highland Valley mine in British Columbia, Canada. The mine is one of the largest open pit mines in Canada and produced 226 million pounds of copper in 2024.

Other copper operations in the Teck portfolio include Antamina in Peru and Carmen de Andacollo in Chile.

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

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Rio Tinto and Hancock Pledge US$1.6 Billion to Advance Hope Downs 2 Iron Ore Project

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Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) and privately owned Hancock Prospecting said on Tuesday (June 24) that they will invest US$1.6 billion to develop the Hope Downs 2 iron ore project in Pilbara, Western Australia.

According to Rio Tinto, Hope Downs 2 has received all necessary approvals and is set to sustain production from the Hope Downs joint venture, in which Rio Tinto and Hancock are equal partners.

Each company will shell out US$0.8 billion for the project.

Hope Downs 2 holds the Hope Downs 2 and Bedded Hilltop deposits, which will have a combined total annual production capacity of 31 million tonnes.

“Approval of Hope Downs 2 is a key milestone for Rio Tinto, as we invest in the next generation of iron ore mines in the Pilbara,” said Rio Iron Ore Chief Executive Simon Trott in the company’s press release.

“These projects are part of our strategy to continue investing in Australian iron ore and to sustain Pilbara production for decades to come, supporting jobs, local businesses and the state and national economies.”

Pilbara is one of Australia’s key mining regions and has been critical to global steel supply for more than six decades.

The joint venture between Rio Tinto and Hancock was established in 2006. Production at Hope Downs 1 began in 2007.

In 2018, the joint venture opened Baby Hope, a new deposit at Hope Downs that was developed to help sustain existing capacity at the Hope 1 operation and support ongoing jobs at Hope Downs.

According to Rio Tinto, an average of 950 jobs will be created during construction of Hope Downs 2, and approximately 1,000 jobs will be sustained at Greater Hope Downs once operational.

The company expects to invest more than US$13 billion on new mines, plant and equipment from 2025 to 2027.

Rio Tinto and Hancock said ore from the new deposits will be processed at Hope Downs 1, with first ore expected and associated infrastructure planned to be operational by 2027.

Other Rio Tinto developments

Earlier this month, Rio Tinto opened the US$3.1 billion Western Range iron ore mine in Western Australia.

Western Range is a joint venture between Rio Tinto and China Baowu Group, a state-owned iron and steel Chinese company. The operation is projected to produce up to 25 million tonnes of iron ore annually.

Rio also recently announced a leadership shakeup after Chief Executive Jakob Stausholm stepped down.

Hancock to unite Roy Hill and Atlas Iron

In a separate development, Hancock said it is uniting its Roy Hill and Atlas Iron operations under a new banner called Hancock Iron Ore. The major operational realignment is set to take effect on July 1.

Executive Chair Gina Rinehart said that the world of iron ore is evolving, so Hancock follows.

“We are not just rebranding. We are building on the exceptional legacy and remarkable achievements of Roy Hill, Atlas Iron and Hancock,’ Australian Mining quotes her as saying.

Roy Hill is among Australia’s leading iron ore miners, delivering approximately 64 million tonnes annually to steelmaking markets in nearby Asia. Atlas Iron exports 10 million tonnes a year.

The latter was acquired by Hancock in 2018 and has since undergone ‘a successful operational turnaround.’

Hancock and Rinehart have a long history of investing in Australian iron ore and other commodities.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

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Canadian Investment Regulatory Organization Trade Resumption – AUMB

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Trading resumes in:

Company: 1911 Gold Corporation

TSX-Venture Symbol: AUMB

All Issues: Yes

Resumption (ET): 8:00 AM 6/25/2025

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

Cision View original content: http://www.newswire.ca/en/releases/archive/June2025/24/c0974.html

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Trump’s big achievement in bombing Iran, still slammed by critics – as he suggests ‘regime change’

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It’s a measure of President Trump’s success in bombing Iran’s key nuclear sites that even some of his harshest detractors are praising the risky endeavor.

The calculated deception – ‘I may do it, I may not do it’ – and dispatching of a decoy fleet of B-2 bombers were crucial to achieving the mission. 

Yes, the situation may look very different in six months, depending in part on the response of Russia and other allies of Iran, the world’s largest terror state. Just yesterday, Tehran launched ballistic missiles at the U.S. military base in Qatar, with no reported casualties. 

Still, Trump should avoid landing on any aircraft carriers with a ‘Mission Accomplished’ banner, a reminder of how George W. Bush’s premature celebration turned into the Iraq quagmire that cost more than 4,000 American lives.

Yes, a sizable chunk of the MAGA coalition was opposed to U.S. intervention after the original Israeli airstrikes on grounds that Trump had always vowed to keep this country out of faraway wars. Some of them are falling into line, as there’s a rally-round-the-president effect after military action – especially when it’s successful. 

Sure, Trump followed up by posting about the possibility of ‘regime change’ – this after JD Vance told ‘Meet the Press:’ ‘We’re not at war with Iran. We’re at war with Iran’s nuclear program.’

Maybe the Truth Social message was simply designed to boost pressure on Ayatollah Ali Khamenei – who could have been taken out – or maybe Trump is tempted by the W-era mentality of ‘we will be greeted as liberators.’ 

No one is quibbling with the deceptions, any more than Dwight Eisenhower was criticized for deploying dummy tanks and vehicles on D-Day to convince the Nazis that the 1944 attack would come at a different location rather than Normandy.

Bret Stephens, an anti-Trump conservative columnist at the New York Times, called the bombings ‘a courageous and correct decision that deserves respect, no matter how one feels about this president and the rest of his policies…Trump could have continued to outsource the dirty work of hitting Iran’s nuclear capabilities to Israel, hoping that it could at least buy the West some diplomatic leverage and breathing room.’

David Ignatius, not a fan of the president’s foreign policy, wrote in his Washington Post column that ‘Trump and his top advisers acted boldly to hit the prize targets in Iran’s nuclear program — at Fordow, Isfahan and Natanz — that remained after nine days of Israeli bombing. The operation was bigger and more comprehensive than even some Israelis had expected, and it showed that the U.S. military, even during the chaotic Trump presidency, still performs with unmatched power, precision and reach.’

But these are among the relatively few exceptions. By and large, liberals and Democrats denounced the president’s action, and conservatives and Republicans hailed it. 

And you know the reaction would have been reversed if Joe Biden was in office and had ordered the airstrikes. 

There’s a legitimate question about whether Trump should have sought approval from the Hill, but this Congress has largely ceded its role on foreign affairs (and on tariffs, for that matter). Besides, a floor debate would have been like sending up neon lights about the coming attack.

Sometimes a commander-in-chief has to attack unilaterally. When Barack Obama and Bill Clinton ordered military strikes without consulting Congress, almost nobody made a big issue of it.

The Times reports that Iran warned Qatar of the retaliatory attack, which was an obvious attempt to minimize casualties and render the half-dozen missiles largely symbolic (though not to the military personnel having to seek shelter). That amounted to a muted initial response by the Iranians, since any American deaths would clearly trigger a further escalation by the Trump military.

The United States is the only country with bunker-busting bombs, which enabled it to damage or destroy the underground uranium enrichment site buried under the Fordow site. The truth is that our experts don’t know how much damage was done far below the surface and may not for weeks.

But given that the U.S. completely controls Iranian airspace, thanks to the earlier Israeli strikes, Trump could order devastating new attacks at any time with virtually no fear of our planes being shot down. And the Iranians are acutely aware of that.

It was deception and misdirection that enabled the Pentagon to pull this off. When Trump said he would decide what to do in the next ‘two weeks’ – a stance echoed by Press Secretary Karoline Leavitt – he had already approved the military plan, subject to last-minute reservations. The attack began 30 hours later.  

When Trump dined with Steve Bannon, the most prominent opponent of the U.S. attacks, along with Tucker Carlson, some surmised he was changing his mind. The same was true when he went to a fundraising dinner at his Bedminster, N.J. golf club, and nothing seemed imminent.

When Fox’s Brian Kilmeade asked Leavitt yesterday about her boss’s regime change posting, she did not minimize it:

‘If the Iranian regime refuses to come to a peaceful diplomatic solution, which the president is still interested and engaging in, by the way, why shouldn’t the Iranian people take away the power of this incredibly violent regime that has been suppressing them for decades?’

Multiple media reports say Trump was angry with his director of national intelligence, Tulsi Gabbard, for testifying in March that the intelligence community believes that Iran is nowhere near building a nuclear weapon, and a video she made after visiting Hiroshima. She has tried to walk it back, but there is little question she has been partially sidelined.

The Washington Post yesterday reported having obtained the audio file of an Israeli intelligence operative’s June 13 call to a senior Iranian commander:

‘I can advise you now, you have 12 hours to escape with your wife and child. Otherwise, you’re on our list right now,’ the translation said. The operative suggested Israel could target the general and his family at any moment: ‘We’re closer to you than your own neck vein.’

There is no independent verification that the call was actually made.

I don’t use this word lightly, but Iran is an evil country. Anyone of a certain age recalls how the Iranians, in 1979 after the ouster of the Shah, held our embassy staffers hostage for 444 agonizing days.

The ruling theocracy also finances the terror groups Hezbollah and Hamas. In fact, if it had not been for Hamas’ spectacular miscalculation in mounting the barbaric massacre in Israel on Oct. 7 – which again included the seizing of civilian hostages – Gaza would not now be the wasteland it has become. Israel bears some responsibility for this, yet also knows that it would be the prime target if Iran succeeds in enriching weapons-grade uranium.

Finally, even if things go south, what happened on Sunday has in my view changed the way people look at Donald Trump. He rolled the dice in a high-stakes gamble. He’s not just a garden-variety isolationist. He doesn’t have to run again, but he managed to keep everything secret and pulled it off with the aid of our superb military. And that took guts.

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FBI launches probes into 3 children’s hospitals for alleged genital mutilation of minors

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The FBI has initiated criminal investigations of three children’s hospitals after commitments from Attorney General Pam Bondi that the Trump administration would enforce federal statutes outlawing female genital mutilation to protect children from often irreversible sex-change surgeries.

The investigations target providers who work at Boston Children’s Hospital, Children’s Hospital Colorado and Children’s Hospital Los Angeles, according to a source familiar with the investigation who spoke to Fox News Digital on the condition of anonymity. These hospitals have been among some of the foremost providers of sex change procedures for minors in America over the last several years, according to the source.

Just days after taking office, President Donald Trump issued an executive order directing all federal agencies to work toward terminating the ability for children under 18 to receive ‘irreversible medical interventions’ as a treatment for gender dysphoria. Part of that effort included Attorney General Bondi issuing a memorandum several weeks later, directing Justice Department personnel to enforce 18 U.S.C. § 116, which is a federal statute that makes female genital mutilation against the law. 

‘I am putting medical practitioners, hospitals and clinics on notice: In the United States, it is a felony to perform, attempt to perform or conspire to perform female genital mutilation (‘FGM’) on any person under the age of 18,’ Bondi’s memo said. ‘That crime carries a maximum prison sentence of 10 years per count. I am directing all U.S. Attorneys to investigate all suspected cases of FGM — under the banner of so-called ‘gender-affirming care’ or otherwise — and to prosecute all FGM offenses to the fullest extent possible.’

Bondi also said in the memo that the Justice Department would be launching a new Coalition Against Child Mutilation, which will partner with state attorneys general to build cases against hospitals and practitioners violating federal or state laws banning female genital mutilation. The memo added that the Justice Department’s Office of Legislative Affairs is drafting legislation establishing a private right of action for children and parents of children ‘whose healthy body parts have been damaged by medical professionals through chemical and surgical mutilation’ so they can hold hospitals and providers retroactively liable.

Amid the Trump administration’s focus on banning irreversible transgender medical treatments for minors, numerous hospitals have amended their policies for who can obtain gender transition treatments and surgeries.

 

Earlier this month, Children’s Hospital Los Angeles announced it would permanently close its Center for Transyouth Health and Development, effective July 22, 2025. The decision was attributed to ‘significant operational, legal and financial risks stemming from the shifting policy landscape at both the state and federal levels,’ according to CBS News.

Children’s Hospital Los Angeles did not respond to Fox News Digital’s repeated requests for comment. 

Children’s Hospital Colorado initially suspended its transgender medical treatments for patients under 19 in response to the president’s executive order directing hospitals to halt irreversible transgender treatments for minors. But after a judge’s ruling blocking Trump’s order, the hospital announced it would resume providing puberty blockers and hormone-based treatments to minors.

In a statement to Fox News Digital, a spokesperson for Children’s Hospital Colorado noted that it has ‘never’ provided transgender surgeries for those under 18, adding that, two years ago, the hospital stopped providing these surgeries for patients over 18. Instead, starting in 2023, the hospital decided to begin referring patients to outside providers for such services, according to Colorado Newsline. 

Boston Children’s Hospital continues to operate its Gender Multispecialty Service (GeMS) program, according to publicly available information. While the hospital only provides gender-change surgeries for patients over 18, its GeMS program does offer transgender hormone therapy, puberty blockers and social transitioning for patients under 18. It also provides referrals for gender-transition surgeries to minors as well.

In a statement to Fox News Digital, Boston Children’s said it had not yet received any notice from the FBI regarding alleged violations of federal law. The FBI said that, as a matter of policy, it ‘declines to confirm or comment on investigations.’

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