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The Medicaid debate among Senate Republicans continues to rage on, but a new proposal geared toward sating concerns over the survivability of rural hospitals could help to close the lingering fissures within the conference.

Senate Republicans are sprinting to finish their work on President Donald Trump’s ‘big, beautiful bill,’ which is filled with key priorities like making his first-term tax cuts permanent, funding his immigration and border security agenda, and rooting out waste, fraud and abuse across a variety of programs.

But lawmakers are still at odds over changes made in the Senate’s version of the bill to the Medicaid provider tax rate and the effects that it could have on rural hospitals, threatening to derail the legislation near the finish line.

A proposal making the rounds from the Senate Finance Committee obtained by Fox News Digital would create a separate stabilization fund that would go toward aiding and upgrading rural healthcare.

The committee’s proposal would allocate $3 billion annually to states that apply to the program over the next five fiscal years.

But that amount is too low for some senators and far too much for others.

Sen. Susan Collins, R-Maine, has been working on a similar proposal but would prefer a much higher fund of $100 billion. That number is unlikely to pass muster with her colleagues and still isn’t high enough for her.

‘I don’t think that solves the entire problem,’ she said. ‘The Senate cuts in Medicaid are far deeper than the House cuts and I think that’s problematic as well.’

Collins would prefer a return to the House GOP’s proposed changes to the provider tax rate, rather than the Senate’s harsher crackdown.

The Senate changes to the provider tax rate hit close to home for Collins, whose state’s rural hospitals are already in jeopardy because the state of Maine failed to advance its budget in time, leaving roughly $400 million in Medicaid funding that would have gone to rural hospitals in limbo.

‘Obviously any money is helpful. But no, it is not adequate,’ she said.

Indeed, the changes to the Medicaid provider tax rate, which were a stark departure from the House GOP’s version of the bill, angered the Republicans who have warned not to make revisions to the health care program that could shut down rural hospitals and boot working Americans from their benefits.

The Senate Finance Committee went further than the House’s freeze of the provider tax rate, or the amount that state Medicaid programs pay to healthcare providers on behalf of Medicaid beneficiaries, for non-Affordable Care Act expansion states and included a provision that lowers the rate in expansion states annually until it hits 3.5%.

However, Centers for Medicare & Medicaid Services (CMS) Administrator Dr. Mehmet Oz and some Senate Republicans have argued that the provider tax rate is a scam rife with fraud that actually harms rural hospitals more than it helps.

Sen. Rick Scott, R-Fla., was in the same camp, and has argued that the rate should be nixed completely. He has similarly pushed for a separate fund but wasn’t keen on the cost of the current proposal.

‘I don’t know that we need $15 billion,’ he said. ‘But this needs to be run by CMS.’

And others wanted to see more money injected into a stabilization fund.

‘I think $5 billion a year would more than make them whole,’ Sen. Roger Marshall, R-Kan., said.

He contended that, as the only lawmaker who has run a rural hospital, there are only roughly 12 million people on Medicaid in rural America, and that lawmakers should ‘tighten things up’ when it comes to funding the health care program.

He said that being on Medicaid was ‘not the same as having healthcare,’ and added that ‘at best, two thirds of doctors accept Medicaid, and even many of the specialists, when they say they do, they won’t give you an appointment for six months or a year.’

‘Medicaid is not the solution,’ he said. ‘It’s the most broken federal system up here.’ 

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The House Oversight Committee says it will subpoena top Biden family aide, Anthony Bernal, after the committee said he refused to testify as part of their investigation into former President Biden’s mental acuity and his use of an automatic signature tool that allowed aides to sign pardons, memos and other important documents on Biden’s behalf. 

‘Jill Biden’s longtime aide Anthony Bernal is DEFYING Congress and REFUSING to testify tomorrow about Joe Biden’s cognitive decline after the White House waived his executive privilege,’ the committee posted on X Wednesday after Bernal was expected to testify on Thursday morning.

‘He’s running scared. The cover-up is collapsing. We will subpoena him immediately.’

By proxy, as the first lady’s top aide, Bernal became one of the most influential people in the White House, according to recent reports, and he was expected to face tough questions about what he knew and when he knew about Biden’s mental decline.

‘No one spent more time, whether it was in the motorcade, on the plane, in the private residence at the White House, Camp David, and at both houses in Delaware, nobody spent more personal time around them and their family and the Biden family than Anthony,’ Democratic strategist Michael LaRosa, who served as press secretary to former first lady Jill Biden, told Fox News Digital. 

LaRosa told Fox News Digital that Bernal, former special assistant to Biden and deputy director of Oval Office Operations, was an ‘indispensable’ part of the Biden team whose top priority was ‘protecting the Bidens,’ even if it was politically harmful due to a ‘personal and emotional attachment’ that became more of a familial relationship than a professional one. 

Fox News Digital previously reported on how the book ‘Original Sin,’ by CNN anchor Jake Tapper and Axios political correspondent Alex Thompson, described Bernal as one of the most influential people in the White House who wielded loyalty as a weapon to weed out the defectors.

During the pandemic, Biden traded the campaign trail for lockdown. Bernal and Annie Tomasini, who is expected to testify next month, found their way into Joe and Jill Biden’s pod, shifting the power dynamic of Biden’s so-called ‘Politiburo,’ the group of advisors who steered Biden’s political orbit, the book explained. 

‘The significance of Bernal and Tomasini is the degree to which their rise in the Biden White House signaled the success of people whose allegiance was to the Biden family – not to the presidency, not to the American people, not to the country, but to the Biden theology,’ the authors wrote. 

‘Their instincts, to hide the ball on often frivolous issues is what ultimately got them in trouble,’ LaRosa told Fox News Digital about the ‘bunker mentality’ from Bernal and other aides around Biden. 

‘Their reflexive need to hide and protect was a deficiency and a blind spot and I never understood it.’

A former White House staffer fired back against Tapper and Thompson’s allegations about Bernal in a statement to Fox News Digital earlier this year.

‘A lot of vignettes in this book are either false, exaggerated, or purposefully omit viewpoints that don’t fit the narrative they want to push. Anthony was a strong leader with high standards and a mentor to many. He’s the type of person you want on a team – he’s incredibly strategic, effective, and cares deeply about the people he manages,’ the former White House staffer said. 

Politico reported in 2021 that Bernal’s management style was viewed by some as ‘toxic’ and would sometimes lead to crying staffers. 

LaRosa told Fox News Digital that Bernal has a ‘big heart’ but acknowledged he was one of the more ‘challenging’ people he had to work with. 

Bernal’s appearance before the committee, if it happens, follows testimony from former Biden aide Neera Tanden, who said she was authorized to direct autopen signatures but was unaware of who in the president’s inner circle was giving her final clearance.

When Tanden was asked whether she ever discussed Biden’s health or his fitness to serve as president during her time as a top aide, including during the period of the former president’s widely criticized debate performance last summer, Tanden said she did not. Lawmakers laid out a list of names of officials she could have potentially discussed it with, and Tanden said ‘no’ to each name, according to a source familiar with her closed-door testimony. 

Fox News Digital’s Liz Elkind, Alec Schemmel and Deirdre Heavey contributed to this report.

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Mossad Director David Barnea thanked the men and women working for the agency after the success of Israel’s Operation Rising Lion. He also expressed his appreciation to the U.S. — particularly the C.I.A. — for their work in countering Iran’s nuclear program.

‘These are historic days for the people of Israel. The Iranian threat, which endangered our security for decades, has been significantly thwarted thanks to the extraordinary cooperation between the IDF, which led the campaign, and the Mossad, which operated alongside it, with the support of our ally, the United States,’ Barnea said.

The Mossad, Israel’s equivalent of the C.I.A., had personnel in Iran ready for the launch of Operation Rising Lion, something that was revealed in unprecedented fashion when the agency released video of its operatives at work.

Ahead of the U.S. strikes in the early hours of Sunday morning, Iran time, there was speculation whether Washington and Jerusalem were coordinating. President Donald Trump made it clear after the strikes that he and Israeli Prime Minister Benjamin Netanyahu had been working together behind the scenes.

‘I want to thank and congratulate Prime Minister Bibi Netanyahu. We worked as a team — like perhaps no team has ever worked before — and we’ve gone a long way to erasing this horrible threat to Israel,’ Trump said in his address to the nation following the strikes on Iran.

While Barnea expressed his gratitude to Israeli and American forces alike, he also said that ‘the mission is not yet complete.’

‘The Mossad will continue, with determination, to monitor, track, and act to thwart the threats against us—just as we always have—for the sake of the State of Israel and its people,’ Barnea said.

Iran’s nuclear chief, Mohammad Eslami, said on Tuesday that the country was assessing the damage and preparing to restore the facilities, according to Reuters. He added that Iran’s ‘plan is to prevent interruptions in the process of production and services.’

Both Trump and Netanyahu vowed to respond if Iran rebuilds its nuclear program.

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One of the sharpest copper supply crunches in recent memory is rattling global commodities markets, as inventories at the London Metal Exchange (LME) plummet and the spot price soars.

Bloomberg reported that as of Monday (June 23), copper for immediate delivery was trading at a premium of US$345 per metric ton over three month futures, the widest spread since a record squeeze in 2021.

That dramatic price divergence reflects the market’s acute concerns over access to physical copper, with readily available inventories on the LME falling by around 80 percent this year alone.

Available stockpiles now cover less than a single day of global demand, amplifying anxiety across the supply chain.

Historic backwardation signals market distress

Backwardation in metals markets typically suggests that buyers are scrambling to obtain physical supply. In copper’s case, a combination of logistical, geopolitical and structural forces is driving the surge.

LME stockpiles have been rapidly drawn down as traders and manufacturers shift metal to the US in anticipation of potential trade barriers, spurred by US President Donald Trump’s tariff moves.

That migration has created acute shortages in Europe and Asia. Chinese smelters, responding to the price premium and slackening domestic demand, have begun exporting surplus copper to global markets. Yet those flows have not kept pace with the drawdowns, and China’s own inventories have also dwindled.

The LME had hoped recent regulatory interventions would prevent another disorderly squeeze like the one that disrupted the nickel market in 2022. Last week, the exchange enacted new rules mandating that traders with large front-month positions offer to lend those holdings if they exceed available inventories.

The so-called “front-month lending rule” is meant to discourage hoarding and promote liquidity.

However, recent copper trading data suggest that no single trader is behind the current squeeze. On Monday, the Tom/next spread — a one day lending rate — spiked to US$69 per metric ton.

This would only occur if no one entity held enough copper to trigger lending obligations under the new rules, indicating the tightness is likely the result of broad-based market dynamics rather than manipulation.

LME tightens oversight

As mentioned, the LME has begun cracking down on oversized positions across its metals complex.

In a June 20 statement, the exchange introduced a temporary, market-wide rule to manage large front-month exposures. Under the updated rules, traders holding positions in the front-month contract for a metal that exceed the total available exchange inventories — excluding any stock they already own — must offer to lend those positions at “level,” meaning they are required to roll them over to the next month at the same price.

The rule aims to rein in aggressive moves by commodities trading houses that have made deep inroads into metals markets over the past year. The LME emphasized in its release that recent market interventions are targeted, adding that the newly introduced rule offers a standardized approach.

Still, the unprecedented depth of copper’s backwardation — now extending years into the future — suggests that broader supply/demand dynamics are at play, beyond what position limits alone can control.

For manufacturers and industrial users, the squeeze presents a serious cost and planning risk. Many rely on the LME as a pricing and hedging mechanism. But when exchange inventories drop this low, even large players can face trouble sourcing metal to meet contract obligations. With exchange-based supply nearly exhausted, companies may increasingly turn to off-market deals or bilateral supply agreements — often at higher prices.

This shift weakens the LME’s role as a central clearinghouse for global copper, and raises questions about its ability to handle future shocks, especially as energy transition policies boost long-term demand for the metal.

Market watchers will also be looking to the next moves from Chinese exporters, US trade policy under Trump and the LME’s enforcement of its new regulations.

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

This post appeared first on investingnews.com

Cobalt prices are surging after the Democratic Republic of Congo (DRC), the world’s largest producer, extended its export ban by three months in a bid to address global oversupply and stabilize plunging prices.

According to the Financial Times, cobalt prices on China’s Wuxi Stainless Steel Exchange rose nearly 10 percent after the DRC government announced the news over the weekend.

The ban — originally set to expire on Monday (June 23) — will now remain in effect until at least September.

The DRC’s Strategic Mineral Substances Market Regulation and Control Authority (ARECOMS) said the extension was necessary “due to the continued high level of stock on the market.”

The ban, first imposed in February of this year, was initially slated to last four months.

It came after a prolonged slump in cobalt prices, which have plummeted approximately 60 percent over the past three years, reaching a nine year low of US$10 per pound earlier this year.

The DRC produced 72 percent of the global cobalt mine supply in 2024, as per market intelligence firm Project Blue.

The export halt has already begun to ripple through international markets. In China, where most of the world’s cobalt is refined, prices for the metal and related company stocks spiked.

‘We are likely to see an initial price spike, but real pressure will be later in the year as intermediate stocks begin to dry up,’ Thomas Matthews, a battery materials analyst at CRU Group, told Bloomberg. ‘In short, strap yourselves in.’

The government of the DRC is attempting to tackle a persistent supply glut that has undermined the cobalt market since 2022. By curbing exports, Kinshasa is aiming to drive up prices, thereby increasing revenues from royalties and taxes on mining companies, while also incentivizing further investment in its domestic mining infrastructure.

ARECOMS said that a follow-up decision will be made before the new deadline in September, signaling that the ban could be modified, extended or lifted depending on market developments.

Reuters reported last week that Congolese officials are also exploring a quota-based system for cobalt exports, which would allow selected volumes to leave the country while still exerting downward pressure on global supply.

The proposal has garnered support from major industry players.

Glencore (LSE:GLEN,OTC Pink:GLCNF), the world’s second largest cobalt producer and a key stakeholder in Congolese mining operations, is backing the potential quota system. The Swiss trader declared force majeure on some of its cobalt supply contracts earlier this year due to the export restrictions, citing exceptional circumstances. Nevertheless, Glencore has managed to fulfill its obligations so far, thanks to pre-existing cobalt stockpiles located outside the DRC.

By contrast, CMOC Group (OTC Pink:CMCLF,HKEX:3993,SHA:603993), the China-based firm that overtook Glencore as the world’s top cobalt producer in 2024, has been lobbying for the ban’s complete removal.

CMOC, which processes a significant share of Congolese cobalt in China, argues that prolonged supply constraints could jeopardize downstream industries and global battery production.

A race against the clock

Despite initial cushioning from global stockpiles, experts warn that refined cobalt supply may soon run thin.

Transporting cobalt from the landlocked DRC to China’s processing hubs typically takes about 90 days. This means that if shipments do not recommence soon, shortages could begin to materialize in late Q3 or early Q4.

‘Stockpiles of cobalt outside the DR Congo will reach very low levels by the September 21 deadline if nothing else changes,’ Jack Bedder, founder of Project Blue, told the Financial Times.

Cobalt plays a vital role in lithium-ion batteries used in electric vehicles, consumer electronics and renewable energy storage. While many battery makers have begun shifting toward lower-cobalt or cobalt-free chemistries, demand for the metal remains strong — especially for high-performance applications.

Complicating the supply/demand dynamics is the fact that cobalt is often a by-product of copper mining.

With copper prices rebounding sharply — trading around US$9,600 per metric ton this week on the London Metal Exchange — producers have little incentive to curb overall output.

The move to extend the cobalt ban also coincides with the DRC’s recent efforts to assert greater control over its vast mineral wealth. The Central African nation is currently in discussions with the US over a potential minerals partnership aimed at strengthening supply chain security for clean energy technologies.

The export suspension is just the latest in a series of efforts by resource-rich countries to assert more control over key commodities. Similar moves have been seen in Indonesia, which banned nickel ore exports in 2020 to spur domestic processing, and in Chile, where the government is pushing for greater state participation in the lithium sector.

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

This post appeared first on investingnews.com

Melbourne, Australia (ABN Newswire) – Lithium Universe Limited (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF) is pleased to announce that further to its announcement dated 18 June 2025 (Announcement), it has now settled the first tranche of its placement to sophisticated and professional investors (Tranche 1).

Highlights

– Successful settlement of Tranche 1 of the share placement to sophisticated and professional investors, raising $0.60 million

– Tranche 2 of the placement (subject to shareholder approval) is anticipated to be completed on or around 29 July 2025, raising $1.10 million

Tranche 1 comprised of 150,000,000 fully paid ordinary shares in the capital of the Company (Shares), which have been issued today under the Company’s existing capacity under ASX Listing Rule 7.1 (15% capacity). The Shares under Tranche 1 were issued at a price of A$0.004 per Share, raising A$600,000. In addition, subject to shareholder approval, the Tranche 1 investors will be entitled to one new option for every two Shares subscribed for and issued, expiring 36 months from the date of issue of the options, and an exercise price of $0.008 (Options).

Tranche 2 Placement

As detailed within the Announcement, the placement comprises a second tranche of 275,000,000 Shares at an issue price of A$0.004 per Share, subject to shareholder approval (Tranche 2). Investors under the Tranche 2 placement will also receive a free attaching Option on a 1 for 2 basis, subject to shareholder approval.

The Company will seek shareholder approval at an upcoming general meeting, which is scheduled to be held on or around Wednesday, 23 July 2025.

Cleansing for secondary trading

The Company advises that the Shares issued under Tranche 1 have been issued without disclosure under Part 6D.2 of the Act in reliance on sections 708(8) and 708(11) of the Corporations Act 2001 (Cth) (Corporations Act).

In accordance with Section 708A(11) of the Corporations Act 2001, the Company confirms:

– the Shares under Tranche 1 are in a class of securities that are quoted securities;

– the Company lodged a prospectus with the Australian Securities and Investments Commission on 20 June 2025 (Prospectus);

– the Prospectus includes an offer of securities by the Company in the same class as the Shares issued under Tranche 1; and

– the offer under the Prospectus is and was open at the time of issue of the Shares under Tranche 1.

Accordingly, the T1 Placement Shares are eligible for immediate trading without on-sale restrictions.

About Lithium Universe Ltd:  

Lithium Universe Ltd (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF), headed by industry trail blazer, Iggy Tan, and the Lithium Universe team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.

Instead of exploring for the sake of exploration, Lithium Universe’s mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects.

Source:
Lithium Universe Ltd

Contact:
Iggy Tan
Executive Chairman
Lithium Universe Limited
Email: info@lithiumuniverse.com

News Provided by ABN Newswire via QuoteMedia

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Anthony Bernal, the former advisor to former first lady Jill Biden, is refusing to appear before the House Oversight Committee to be questioned about the alleged cover-up of former President Joe Biden’s mental decline.

Chair James Comer, R-Ky., said in a press release Tuesday that Bernal was refusing to appear on June 26 for a transcribed interview, as part of the committee’s investigation into the Biden cover-up, and also the potentially unauthorized use of autopen for executive actions and pardons.

‘Now that the White House has waived executive privilege, it’s abundantly clear that Anthony Bernal – Jill Biden’s so-called ‘work husband’ – never intended to be transparent about Joe Biden’s cognitive decline and the ensuing cover-up,’ Comer said. ‘With no privilege left to hide behind, Mr. Bernal is now running scared, desperate to bury the truth. The American people deserve answers and accountability, and the Oversight Committee will not tolerate this obstruction.’

The chairman added that if Bernal does not wish to come on his own, he will issue a subpoena to compel Bernal to provide testimony before the committee.

Letters obtained by Fox News Digital from a source familiar with the matter show the Trump administration will not allow the people of interest in Comer’s probe to use their past White House work as a legal shield.

Deputy Counsel to the President Gary Lawkowski sent the letters to former Biden Chief of Staff Ron Klain, former senior advisors Anita Dunn, Steve Ricchetti, Mike Donilon, Annie Tomasini, Bruce Reed, Ashley Williams and Bernal.

‘In light of the unique and extraordinary nature of the matters under investigation, President Trump has determined that an assertion of executive privilege is not in the national interest, and therefore is not justified, with respect to particular subjects within the purview of the House Oversight Committee,’ the letters said. ‘Those subjects include your assessment of former President Biden’s fitness for the office of the President and your knowledge of who exercised executive powers during his administration.’

Congressional Republicans and the White House are investigating whether the senior Biden aides in question played any role in keeping concerns about the former president’s mental acuity shielded from the public eye and even from lower-level White House staffers.

‘Just yesterday, we heard from our first witness, Neera Tanden, the former Staff Secretary who controlled the Biden autopen,’ Comer said Wednesday. ‘Ms. Tanden testified that she had minimal interaction with President Biden, despite wielding tremendous authority. She explained that to obtain approval for autopen signatures, she would send decision memos to members of the President’s inner circle and had no visibility of what occurred between sending the memo and receiving it back with approval.

‘Her testimony raises serious questions about who was really calling the shots in the Biden White House amid the President’s obvious decline,’ Comer continued. ‘We will continue to pursue the truth for the American people.’

Bernal’s team previously confirmed he would appear for a transcribed interview on June 26, 2025, according to Comer’s office. But yesterday, the White House counsel’s office notified Bernal that it was waiving executive privilege regarding the Oversight Committee’s investigation.

Bernal’s legal team then told the committee he would no longer appear for the interview.

Comer’s team said in the press release that during the last Congress, the chairman subpoenaed three key White House aides, including Bernal, who allegedly ran interference for Biden to cover up his decline.

Despite the subpoenas, the White House under Biden allegedly obstructed the committee’s investigation by refusing to make the aides available for interviews or depositions.

Fox News Digital’s Elizabeth Elkind contributed to this report.

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Randy Smallwood, president and CEO of Wheaton Precious Metals (TSX:WPM,NYSE:WPM), shares his updated thoughts on the gold and silver markets.

He also discusses Wheaton’s project pipeline and the company’s hunt for more assets.

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

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