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Medicaid reform in President Donald Trump’s ‘big, beautiful bill’ has drawn a partisan line through Congress. 

Democrats have railed against potential Medicaid cuts since Trump was elected, while Republicans have celebrated Medicaid reform through the reconciliation process as an efficient way to eliminate waste, fraud and abuse in the welfare program. 

Fox News Digital asked lawmakers from both ends of the political spectrum to react to the One Big Beautiful Bill Act’s Medicaid reform. The results were as expectedly divided. 

‘This is all B.S., what the Democrats are doing,’ Sen. Tommy Tuberville, R-Ala., told Fox News Digital. ‘They’re pushing the agenda that we’re cutting 10 million people off Medicaid. It’s people that actually shouldn’t be on it, illegals that shouldn’t be on it. We’re reforming it.’

The Congressional Budget Office (CBO), a nonpartisan federal agency that has been ridiculed by Republicans, estimated this week that Trump’s ‘big, beautiful bill’ would leave 10.9 million people without health insurance, including 1.4 million who are in the country without legal status in state-funded programs.

But Republicans are holding firm in their defense of Medicaid reform, which Republicans say only cuts benefits to illegal immigrants, those ineligible to receive benefits who are currently receiving benefits, duplicate enrollees in one or more states and those who are able but choosing not to work. 

The people who would not continue to get Medicaid benefits under this bill were not qualified to get them in the first place,’ Sen. John Kennedy, R-La., told Fox News Digital. 

Democrats continue to sound off on the healthcare threat of eliminating 10 million people from Medicaid. Not a single House Democrat voted to pass Trump’s championed legislation, which includes fulfilling key campaign promises like cutting taxes, immigration reform and American energy production. 

‘These burdensome regulatory requirements for proving that somebody has obtained or sought work are going to mean millions of people will go without healthcare, and the restrictions on food assistance are equally an obstacle to people meeting their everyday needs,’ Sen. Richard Blumenthal, D-Conn., said. 

Blumenthal added he is ‘very, very concerned about these seemingly cruel and unproductive ways of raising money simply to finance tax cuts’ for ‘wealthy billionaires.’

New Jersey Democratic Sen. Andy Kim said he is happy to have an ‘honest conversation’ about government efficiency and saving taxpayer dollars, but that’s not the reality of this bill. 

‘People are struggling, and I feel like, in the richest, most powerful country in the world, we should be able to make sure that people can have the basic needs they need to be able to survive,’ Kim said of Medicaid and Supplemental Nutrition Assistance Program (SNAP) benefits. 

Sen. Jeff Merkley, D-Ore., told Fox News Digital there is ‘nothing beautiful’ about Trump’s ‘big, beautiful bill.’

‘This is horrific, and it adds massive amounts to our debt, compromising our ability to [fund] the fundamentals in the future, foundations for families to thrive — health care, housing, education, good-paying jobs. That’s what we should be doing here, not doing massive tax cuts for billionaires and paying for them by tearing down programs for ordinary families,’ Merkley said. 

The national debt stands at more than $36.2 trillion as of June 5, according to the Fox Business, based on data from the Treasury Department.

The CBO’s report this week also estimated Trump’s bill will cut taxes by $3.7 trillion while raising deficits by $2.4 trillion over a decade. 

Fox News’ Anders Hagstrom and Eric Revell contributed to this report. 

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The fallout between Elon Musk and President Donald Trump is an evolving situation marked by a public blowup on Thursday, but their relationship ties back to Trump’s first term and even earlier.

A November 2016 CNBC interview with the Tesla CEO, who’s now the richest man in the world, took a critical tone of the now president just days before he was elected president in an upset that signified the strength of the populist movement. 

‘Honestly, I think Hillary’s economic policies and her environmental policies particularly are the right ones, you know, but yeah. Also, I don’t think this is the finest moment in our democracy at all,’ Musk said.

‘Well, I feel a bit stronger that probably he’s not the right guy. He just doesn’t seem to have the sort of character that reflects well on the United States,’ he later added in the interview.  

During Trump’s first term, Musk was part of some of his economic advisory councils, which often includes CEOs, but ultimately left his post because he disagreed with the president’s move to exit the Paris Climate Accords.

‘Am departing presidential councils. Climate change is real. Leaving Paris is not good for America or the world,’ Musk posted at the time.

The two continued to have an on-and-off relationship, but there were some positive signs in May 2020.

‘Elon Musk, congratulations.  Congratulations, Elon. Thanks, Elon. For Elon and 8,000 SpaceX employees, today is the fulfillment of a dream almost two decades in the making,’ Trump said at the Kennedy Space Center in May 2020.

And at the SpaceX Demo-2 launch, Trump said he and Musk communicate regularly.

‘Well, I won’t get into it.  But, yeah — but I speak to him all the time.  Great guy.  He’s one of our great brains.  We like great brains.  And Elon has done a fantastic job,’ he said.

Fast forward to 2022, when Musk purchased Twitter and renamed it X, and brought back Trump’s account that November, after it was suspended after the events of Jan. 6, 2021. In 2022, Musk also announced that he would vote Republican, but indicated he would back Florida Gov. Ron DeSantis if he opted to seek the nomination.

DeSantis launched his campaign on X in a ‘space,’ a virtual public event forum, with Musk, who also reportedly significantly financially backed the Florida governor, according to The Wall Street Journal.

However, a major turning point was in July 2024, after the assassination attempt of Trump at a rally in Butler, Penn.

‘I fully endorse President Trump and hope for his rapid recovery,’ Musk posted.

Musk then campaigned for the president, including a famous moment when he was jumping on stage at his comeback rally in Butler.

‘I want to say what an honor it is to be here and, you know, the true test of someone’s character is how they behave under fire, right?’ Musk said at the rally. ‘And we had one president who couldn’t climb a flight of stairs and another who was fist pumping after getting shot.’

‘This is no ordinary election,’ the tech CEO continued. ‘The other side wants to take away your freedom of speech.’

‘Just be a pest to everyone,’ he added. ‘You know, people on the street everywhere: Vote, vote, vote!’

The tech billionaire spent roughly $300 million through America PAC to boost swing state voter efforts, including Pennsylvania. 

By the time the presidential election rolled around, Trump and Musk appeared to be close friends as the Tesla CEO was with Trump in Mar-a-Lago on election night. Over the next few days, Musk remained in Florida and was reportedly advising Trump on appointments and policy as the transition to a new administration kicked off. 

A week later, shortly before Musk and the new president appeared at a SpaceX launch together in Texas, Trump announced that Musk and tech entrepreneur Vivek Ramaswamy would be heading up the Department of Government Efficiency in an effort to rid the government of waste, fraud, and abuse. 

Trump described the pair as ‘two wonderful Americans’ and although Ramaswamy left that post in January and is now running for governor in Ohio, Musk stayed on and quickly became the face of an agency that made him the main target of attacks from Democrats pushing back on spending cuts that they argued were too drastic.

Protests erupted nationwide against Musk and DOGE including violent outbursts at his Tesla dealerships that tanked the company’s stock and were labeled as acts of ‘domestic terrorism’ by the Justice Department. 

During the first few months of the year, Musk and Trump were spotted together at several viral events including a UFC fight, an Oval Office meeting where Musk’s son ‘Little X’ stole the show, and a cabinet meeting in late February where Musk was the main focus. 

In March, Trump hosted Elon at a Tesla showcase in front of the White House amid a dip in Tesla stock where the president told reporters he was purchasing a Tesla while touting the company.

As Musk’s time at DOGE began to wind down, his employee classification allowed him to serve for 130 days, the newly formed agency had become the poster child of anti-Trump sentiment from Democrats who consistently attacked the $175 billion in spending cuts that DOGE estimated it delivered.

Signs of fracture in the relationship began showing in late May when Musk took a public shot at Trump’s ‘big beautiful bill’ as it made its way through Congress. 

‘I was disappointed to see the massive spending bill, frankly, which increases the budget deficit, not just decreases it, and undermines the work that the DOGE team is doing,’ Musk said.

Two days later, Musk announced his official departure from DOGE.

‘As my scheduled time as a Special Government Employee comes to an end, I would like to thank President @realDonaldTrump for the opportunity to reduce wasteful spending,’ Musk said, adding that the effects of DOGE ‘will only strengthen over time as it becomes a way of life throughout the government.’

DOGE, which fell short of Musk’s initial goal of slashing $1 trillion in spending which Musk said he still remains optimistic will happen in the future, will continue its work without Musk, who said, ‘I look forward to continuing to be a friend and adviser to the president.’

That optimistic tone shifted drastically on June 3 when Musk took to X, the platform he owns, and blasted the budget reconciliation bill calling it ‘a disgusting abomination’ and criticizing the Republicans who voted for it. 

‘KILL THE BILL,’ Musk said the next day.

A day after that, on Thursday, the feud hit a fever pitch.

While speaking with reporters in the Oval Office, Trump said that he was ‘very disappointed’ by Musk’s vocal criticisms of the bill. The president claimed that Musk knew what was in the bill and ‘had no problem’ with it until the EV incentives had to be cut.

On X, Musk called that assessment ‘false.’

Trump turned to social media to criticize Musk, who he appointed to find ways to cut $2 trillion after forming the Department of Government Efficiency (DOGE).

‘Elon was ‘wearing thin,’ I asked him to leave, I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!’ Trump said in one post.

In another post, Trump said, ‘I don’t mind Elon turning against me, but he should have done so months ago. This is one of the Greatest Bills ever presented to Congress. It’s a Record Cut in Expenses, $1.6 Trillion Dollars, and the Biggest Tax Cut ever given.’

‘If this Bill doesn’t pass, there will be a 68% tax increase, and things far worse than that. I didn’t create this mess, I’m just here to FIX IT. This puts our Country on a Path of Greatness. MAKE AMERICA GREAT AGAIN!’

At one point, Musk referenced late pedophile Jeffrey Epstein in relation to Trump as part of the larger tirade in a comment that several Republicans told Fox News Digital went ‘too far.’

Other posts from Musk included a claim that Trump would not have won the election without his help while accusing Trump of ‘ingratitude.’ In another post, Musk suggested that Trump should be impeached and replaced by Vice President Vance. 

It is unclear if a resolution to the feud is coming in the next few days. Fox News Digital reported on Friday morning that Musk wants to speak to Trump and that White House aides could possibly broker a meeting.

Trump told Fox News on Friday that he isn’t interested in talking to Musk, adding that ‘Elon’s totally lost it.’

Trump also said to Fox News’ Bret Baier that he isn’t worried about Musk’s suggestion to form a new political party, citing favorable polls and strong support from Republicans on Capitol Hill.

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The massive Ukrainian drone strike on Russia has strong implications for the future of all warfare. The sophisticated operation taught us that the use of low-cost, highly scalable, lethal drone technology is here to stay. Our leaders must pay attention, because the Ukraine-Russia war is a blueprint for not only how we will fight future wars but how we will have to defend ourselves from a more sophisticated and capable enemy than ever before.   

America’s defense leaders need to start reflecting on the realities of modern warfare and fully understand that, as a country, we are not ready. Some people still want to try and deny these very small, handheld first-person view (FPV) drones that cost only a few hundred dollars are not the future of warfare.  

They need to wake up. That’s the wrong mentality, and it makes the U.S. less prepared. In the case of the Ukraine operation, they utilized a few good sources, some cheap trucks, and low-cost drones with munitions that managed to destroy over 40 strategic bombers worth billions. Not millions, billions.  

The U.S. government, on the other hand, will spend $10 billion dollars on an aircraft carrier that takes a decade to build and likely now could be destroyed by a modern-day swarm of unmanned surface vehicles, the same ones that have pushed the entire Russian Black Sea Fleet out of the Black Sea.   

Our defense procurement priorities are misguided. The Russians, Ukrainians, Iranians and even the Chinese are starting to treat drones not like we typically do as surveillance. They treat them like they do artillery rounds. This is ammunition and ammunition needs to be produced in massive quantities. They collectively have their manufacturers producing millions per year, yet our government gets excited when a U.S. manufacturer can produce 100 drones a month.   

 

The Ukraine operation should also highlight just how vulnerable we are as a country to similar attacks from our enemy.  Sadly, history has shown that the U.S. government will likely only change its archaic laws after we have a catastrophic attack on U.S. soil. Currently, we don’t allow for the needed widespread use of counter-drone and electronic warfare systems. We should be asking our leaders, why do we have to wait for fellow Americans to get hurt before doing something?

The truth is, we are not prepared defensively for what the state of drone technology currently is globally. People now easily have access to lethal capabilities at low costs that were before only allotted to first-world countries with massive budgets. The technology is proliferating at an alarming rate.   

Thankfully, we have a few companies up to the task. Andy Yakulis, CEO of the defense startup Vector Defense, focused on preparing our soldiers for the next generation of drone warfare, told me recently that: ‘We don’t have a drone technology problem, we have a contracting problem. We have a federal government and defense department procurement problem. Our defense industrial base is broken, and the big prime contractors just don’t get it and aren’t incentivized to adapt to this modern way of warfare because the money keeps rolling out to the same large defense contractors in from our government. We need to streamline the process for defense innovators, companies who understand the threats.’  

He’s right, the technology and expertise in America exists today to stop future attacks and to protect Americans. We will never fight another war without drone technology and AI playing some of the most critical roles. We just aren’t moving federal government budgets quickly enough to fix it, and we need to before it’s too late.  

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President Donald Trump and SpaceX and Tesla CEO Elon Musk engaged in a public feud Thursday, less than a week after the White House held a farewell press conference for Musk highlighting his contributions spearheading the Department of Government Efficiency (DOGE).

Musk departed his tenure as a special government employee with DOGE May 30, but swiftly launched into criticisms of Trump’s massive tax and spending package dubbed the ‘big, beautiful, bill.’ Tuesday, Musk labeled the measure a ‘disgusting abomination’ because of reports it ramps up the federal deficit.

On Thursday, Trump told reporters in the Oval Office that Musk opposed the bill because it eliminates an electric vehicle tax credit that benefits companies like Tesla. But Trump said that provision has always been part of the measure. 

‘I’m very disappointed, because Elon knew the inner workings of this bill better than almost anybody sitting here, better than you people,’ Trump said in the Oval Office in a meeting with German Chancellor Friedrich Merz. ‘He knew everything about it. He had no problem with it. All of a sudden he had a problem, and he only developed the problem when he found out that we’re going to have to cut the EV mandate, because that’s billions and billions of dollars, and it really is unfair.’

Musk immediately responded on X to Trump’s statements, urging a removal of the ‘disgusting pork’ included in the measure. He also said it was ‘false’ that he had been shown the measure ‘even once.’

The two continued to publicly spar against one another, with Musk asserting that Trump wouldn’t have won the 2024 election if it weren’t for his own backing. Meanwhile, Trump accused Musk of going ‘CRAZY’ over cuts to the EV credits, and said that Musk had been ‘wearing thin.’ 

Additionally, Trump told Fox News on Friday that ‘Elon’s totally lost it’ and was not interested in speaking over the phone with Musk, despite media reports suggesting that the two would talk. 

Here’s what also happened this week: 

Visit with the chancellor of Germany

Chancellor of Germany Friedrich Merz met with Trump at the White House Thursday, where the two discussed the war in Ukraine. 

While Merz asserted that the U.S. was in a powerful spot to bring a meaningful end to the conflict between Ukraine and Russia, Trump offered that the world might need to ‘let them fight for a little while.’

‘America is again in a very strong position to do something on this war and ending this war,’ Merz said. 

Merz said that Germany was willing to help however it could, and wanted to discuss options to partner with the U.S. to bring peace. Likewise, Merz suggested that European allies exert additional pressure on Russia to end the conflict. 

But Trump said that he told Putin in a recent call that perhaps both countries would need to feel the consequences of fighting more acutely, claiming he had told Putin ‘maybe you’re going to have to keep fighting and suffering a lot.’

‘Sometimes you see two young children fighting like crazy – they hate each other, and they’re fighting in a park, and you try and pull them apart, they don’t want to be pulled,’ Trump said.  ‘Sometimes you’re better off letting them fight for a while and then pulling them apart.’

Call with Xi

Trump spoke with Chinese President Xi Jinping Thursday to discuss trade negotiations between Washington and Beijing. 

‘I just concluded a very good phone call with President Xi, of China, discussing some of the intricacies of our recently made, and agreed to, Trade Deal,’ Trump said Thursday in a Truth Social post. ‘The call lasted approximately one and a half hours, and resulted in a very positive conclusion for both Countries.’

Trump said the conversation had focused ‘almost entirely’ on trade, and that Xi had invited the U.S. president and first lady Melania Trump to visit China. Likewise, Trump reciprocated and invited Xi and his wife, Peng Liyuan, to visit the U.S. 

The call comes nearly a week after Trump condemned China on May 30 for violating an initial trade agreement that the U.S. and China had hashed out in May. And on Wednesday, Trump said Xi was ‘extremely hard to make a deal with’ in a Truth Social post. 

The negotiations from May prompted both countries to agree that the U.S. would lower its tariffs against Chinese imports from 145% to 30%, and China would reduce its tariffs against U.S. imports from 125% to 10%.

Fox News’ Caitlin McFall contributed to this report. 

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Some of the White House’s conservative House allies say they’re interpreting the upcoming vote on President Donald Trump’s $9.4 billion spending cut proposal as a ‘test’ of what Congress can achieve in terms of rolling back federal funding.

Rep. Chip Roy, R-Texas, said he would not speak for members of the Trump administration but added, ‘I do think it is a test.’

‘And I think this is going to demonstrate whether Congress has the fortitude to do what they always say they’ll do,’ Roy said. ‘Cut the minimal amount of spending – $9 billion, NPR, PBS, things you complain about for a long time, or are they going to go back into their parochial politics?’

House GOP leaders unveiled legislation seeking to codify Trump’s spending cut request, known as a rescissions package, on Friday. It’s expected to get a House-wide vote sometime next week.

‘The rescissions request sent to Congress by the Trump Administration takes the federal government in a new direction where we actually cut waste, fraud, and abuse and hold agencies accountable to the American people,’ House Majority Leader Steve Scalise, R-La., said in a statement introducing the bill.

The legislation would claw back funding that Congress already appropriated to PBS, NPR, and the U.S. Agency for International Development (USAID) – cuts outlined by Elon Musk’s Department of Government Efficiency (DOGE) earlier this year.

And while several Republican leaders and officials have already said they expect to see more rescissions requests down the line, some people who spoke with Fox News Digital believe the White House is watching how Congress handles this first package before deciding on next steps.

‘You’re dead right,’ Rep. Ralph Norman, R-S.C., told Fox News Digital when asked if the rescissions package was a test. ‘I think that it’s a test case – if we can’t get that…then we’re not serious about cutting the budget.’

A rescissions package only needs simple majorities in the House and Senate to pass. But Republicans in both chambers have perilously slim majorities that afford them few defections.

Republicans are also racing the clock – a rescissions package has 45 days to be considered otherwise it is considered rejected and the funding reinstated.

Rep. Lance Gooden, R-Texas, did not directly say whether he viewed the spending cuts as a test but dismissed any potential concerns.

‘This is very low-hanging fruit, and I don’t anticipate any problems,’ Gooden told Fox News Digital.

‘I’ve heard a few comments in the media, but I don’t think they’re serious comments. If someone on the Republican side can make a case for PBS, but they won’t take a tough vote against illegal immigration, then we’ve got a lot of problems.’

Paul Winfree, president and CEO of the Economic Policy Innovation Center (EPIC), told Fox News Digital last week, ‘This first rescissions package from President Trump is a test as to whether Congress has the ability to deliver on his mandate by canceling wasteful spending through a filibuster-proof process.’

‘If they can’t then it’s a signal for the president to turn up the dial with other tools at his disposal,’ Winfree, who served as Director of Budget Policy in the first Trump administration, said.

Both Roy and Norman suggested a process known as ‘pocket rescissions’ could be at least one backup plan – and one that Office of Management and Budget Director Russell Vought has floated himself.

‘Pocket rescissions’ essentially would mean the White House introduces its spending cut proposal less than 45 days before the end of the fiscal year on Sept. 30. In theory, it would run out the clock on those funds and allow them to expire whether Congress acted or not.

Vought told reporters after meeting with Speaker Mike Johnson, R-La., on Monday that he wanted to ‘see if it passes’ but was ‘open’ to further rescissions packages.

‘We want to send up general rescissions bills, to use the process if it’s appropriate, to get them through the House and the Senate,’ Vought said. ‘We also have pocket rescissions, which you’ve begun to hear me talk a lot about, to be able to use the end of the fiscal year to send up a similar rescissions, and have the funds expire. So there’s a lot of things that we’re looking at.’

Still, some moderate Republicans may chafe at the conservative spending cuts.

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Rep. Don Bacon, R-Neb., refused to comment on whether he’d support the legislation before seeing the details but alluded to some concerns.

‘Certainly I’m giving you a non-answer right now until I read the details,’ Bacon said.

‘It does bother me because I have a great rapport with Nebraska Public Radio and TV. I think they’ve been great to work with, and so that would be one I hope they don’t put in.’

He also raised concerns about some specific USAID programs, including critical investments to fight Ebola and HIV in Africa.

The legislation is expected to come before the House Rules Committee, the final gatekeeper before most legislation sees a House-wide vote, on Tuesday afternoon.

It’s separate from Trump’s ‘one big, beautiful bill,’ a broad piece of legislation advancing the president’s tax, energy, and immigration agenda through the budget reconciliation process.

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Hempalta Corp. (TSXV: HEMP) (‘Hempalta’ or the ‘Company’), a Canadian-based provider of nature-based carbon credit solutions, today issued a corporate update outlining recent developments in its strategic transition.

Equipment Sale Update

On May 22, 2025, Hempalta announced its wholly owned subsidiary, Hempalta Processing Inc. (‘HPI’), had entered into a US$1.15 million agreement to sell its hemp processing and biochar equipment (the ‘Transaction’). Despite follow up discussions and repeated assurances, the purchase price has not been paid to HPI; accordingly, HPI has retained ownership of all equipment and associated intellectual property and has reinitiated the asset sale process. Interested parties may contact the Company for additional details.

FCC Forbearance Agreement

In connection with the termination of the Transaction, HPI, has entered into a forbearance agreement with Farm Credit Canada (‘FCC’) dated effective June 2, 2025. This agreement extends protection through June 30, 2025, providing HPI time to complete a revised monetization plan for its processing assets while maintaining transparency and compliance with its senior lender.

Carbon Credit Market Momentum Continues

The Company’s 2024 carbon credits now total 29,448 tonnes of CO₂ removal across 12,669 acres under the Hemp Carbon Standard. These credits are available for purchase via the Company’s Cloverly storefront (hempcarbonstandard.cloverly.app), and discussions with corporate buyers are ongoing.

CEO to Speak at Canadian Climate Investor Conference

Hempalta President and CEO Darren Bondar will be speaking at the 2025 Canadian Climate Investor Conference hosted by the Toronto Stock Exchange (TSX and TSXV) on June 11, 2025, at the Arcadian Court in Toronto. Mr. Bondar will outline Hempalta’s strategic pivot to nature-based carbon credit markets and showcase the scalable growth opportunity through its Hemp Carbon Standard platform.

About Hempalta Corp.

Hempalta Corp. (TSXV: HEMP) is a Canadian clean-tech company focused on high-integrity carbon removal credits derived from industrial hemp. Through its wholly owned subsidiary, Hemp Carbon Standard Inc., the Company supports regenerative agriculture, biochar deployment, and AI-powered MRV to deliver transparent, verifiable carbon credits aligned with global climate goals.

Learn more at www.hempalta.com or contact Investor Relations at invest@hempalta.com.

For more information, please contact:

Investor Relations
Hempalta Corp.
Email: info@hempalta.com
Website: www.hempalta.com
Hempalta Corp.
Web: https://www.hempalta.com/
Email:info@hempalta.com

 

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 press release.

Forward-Looking Information

This news release contains statements and information that, to the extent they are not historical fact, may constitute ‘forward-looking information’ within the meaning of applicable securities legislation. Forward-looking information is typically, but not always, identified by the use of words such as ‘expects,’ ‘plans,’ ‘continues,’ ‘intends,’ ‘anticipates,’ ‘potential,’ ‘aims,’ ‘will,’ and similar expressions, including negatives thereof.

Forward-looking information in this news release includes, but is not limited to, statements regarding: the Company’s ability to complete the sale of its hemp processing and biochar equipment; the resolution of the outstanding forbearance with Farm Credit Canada (FCC); negative cash flow from operations and the Company’s ability to operate as a going concern; the anticipated proceeds and timing of any asset sales; the scaling of the Hemp Carbon Standard platform; the sale of verified carbon credits; the development of new corporate offtake agreements; and the Company’s broader growth initiatives under Hempalta carbon credit platform.

Such forward-looking information is based on assumptions and expectations, including but not limited to: the Company’s ability to remarket and sell the equipment; continued support from major shareholders and new investors; demand for nature-based carbon removal credits; successful onboarding of additional farmers; favorable regulatory conditions; and Hempalta’s ability to execute its strategic plan and secure necessary financing on reasonable terms.

Although the Company believes the assumptions and expectations reflected in the forward-looking information are reasonable, undue reliance should not be placed on them, as actual results may differ materially due to known and unknown risks. These risks include, but are not limited to: economic conditions and capital market volatility; failure to close the asset sale or private placement; changes in carbon credit market demand or pricing; regulatory changes; inability to retain key personnel; weather-related challenges impacting hemp cultivation; and those risks set forth in the Company’s public disclosure documents available on SEDAR+ at www.sedarplus.ca.

Forward-looking information in this news release is provided as of the date hereof, and the Company does not undertake to update such information except as required by applicable securities laws.

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. NEWSWIRES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/254819

News Provided by Newsfile via QuoteMedia

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In a move that has ignited a storm of opposition from Indigenous communities and environmental groups, Ontario’s Progressive Conservative government passed Bill 5 on Wednesday (June 4).

Formally titled the Protecting Ontario by Unleashing our Economy Act, the legislation grants the province unprecedented authority to override provincial and municipal laws in favor of economic development.

Specifically, Bill 5 allows the government to establish ‘special economic zones’ where environmental protections, labor regulations and other statutes can be suspended for projects led by ‘trusted proponents.’

Premier Doug Ford’s government argues that the bill is critical for expediting development in the mineral-rich Ring of Fire region and countering global economic threats, including US tariffs.

But the bill’s passage, by a vote of 71 to 44, has drawn fierce backlash from First Nations leaders who say they were not consulted, in violation of treaty rights enshrined in the Canadian constitution.

Speaking to reporters, Grand Chief Alvin Fiddler of the Nishnawbe Aski Nation, which represents 49 First Nations in Northern Ontario, warned that protests and blockades — reminiscent of the Idle No More movement — are likely.

‘I think after today we need to look at every option that is at our disposal, including legal, political, economic, everything – including taking direct action,’ he said, adding, ‘Everything is on the table.’

Ford was not present in the legislature for the vote, drawing condemnation from Indigenous leaders and opposition politicians. He reportedly missed the vote due to an overrun in an online meeting with a US congressman.

Ontario NDP Leader Marit Stiles stood alongside First Nations representatives to denounce the premier’s absence and vowed to continue resisting the legislation, which she predicted will end up in court.

Public gallery benches erupted during the vote with shouts of ‘Shame on you!’ and ‘Where’s the premier?’ Security escorted several individuals out, including one man who yelled, ‘Our land is not for sale!’

Opposition parties attempted to stall the bill with thousands of proposed amendments, but the Progressive Conservative majority pushed it through after using time allocation to cut short debate.

Legal experts warn that Bill 5 could significantly alter the legal and environmental landscape in Ontario. The legislation includes Henry VIII-style provisions — named after the 16th-century monarch notorious for consolidating executive power — which allow the provincial cabinet to override laws without legislative scrutiny.

Laura Bowman, a lawyer with Ecojustice, said, ‘This is not just undemocratic; it’s anti-democratic.’

Environmental advocates have also raised alarm about Bill 5’s implications for conservation. It rewrites Ontario’s endangered species law by giving the cabinet, not scientists, final authority on which species merit protection.

Additionally, it eases rules on preserving Indigenous archaeological sites.

The government has floated the possibility of Indigenous-led economic zones as part of the regulations it must still draft, but details remain scarce, and First Nations groups say the damage has already been done.

Ontario Regional Chief Abram Benedict, who previously met with Ford in a tense private session, said the discussions were necessary, but insufficient. “Our Chiefs have made it clear that they fully reject Bill 5, and the Chiefs of Ontario stand by and defend the position of the Chiefs,” Benedict maintained in a statement. “First Nations rights holders must be at the table, and the Government must fulfill its constitutional and treaty obligations.”

The Ring of Fire region, located in the James Bay lowlands, is at the center of the controversy.

While some First Nations near the area support road construction projects, others oppose the rush to mine in the region without thorough consultation and environmental safeguards. The Ford government has touted the area’s reserves of critical minerals — such as nickel and lithium — as essential for Ontario’s economic future.

While some industry stakeholders have cautiously welcomed provisions in Bill 5 that streamline mining approvals under a “one project, one process” regime, critics and civil liberties advocates say its rhetoric risks escalating tensions.

Among them is the Canadian Civil Liberties Association, which has condemned Bill 5 as a dangerous overreach that could hollow out legal safeguards without meaningful public oversight.

Legal scholars say the government’s interpretation of its duty to consult remains contested. While a 2018 Supreme Court ruling (Mikisew Cree) found that governments are not constitutionally required to consult Indigenous groups during the drafting of legislation, it emphasizes that such consultation is often politically and morally necessary.

Moreover, many Indigenous leaders say consultation is no longer enough. Invoking the United Nations Declaration on the Rights of Indigenous Peoples, they are calling for ‘free, prior and informed consent’ as the new standard.

In the coming weeks, the Ford government must draft the regulations that will define how Bill 5 is implemented. These rules, it insists, will be subject to consultation. But with Indigenous leaders threatening direct action and legal battles on the horizon, Ontario may be on the brink of a new phase in its fraught relationship with First Nations.

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

This post appeared first on investingnews.com

Here’s a quick recap of the crypto landscape for Friday (June 6) 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$104,245 as markets closed for the week, up 2 percent in 24 hours. The day’s range for the cryptocurrency brought a low of US$104,006 and a high of US$105,201.

Bitcoin price performance, June 6, 2025.

Chart via TradingView.

After dipping below US$101,000 during the dispute between US President Donald Trump and Elon Musk, Bitcoin recovered to around US$105,000 early in the trading day, influenced by a strong US labor report.

Despite the rebound, analysts are wary due to technical indicators like a weakening relative strength index, suggesting potential downside. A possible rate cut from the US Federal Reserve on June 18 could push Bitcoin to US$112,000, but the outlook is uncertain. Order book data indicates a liquidity trap, and limited short interest points to a fragile recovery.

Additional selling pressure and investor distrust are contributing to shaky market sentiment.

Ethereum (ETH) finished the trading day at US$2,490.63, a 2 percent decrease over the past 24 hours. The cryptocurrency reached an intraday low of US$2,482.52 and saw a daily high of US$2,519.25.

Altcoin price update

  • Solana (SOL) closed at US$149.26, trading flat over 24 hours. SOL experienced a low of US$148.86 and reached a high of US$151.79 on Friday.
  • XRP is trading at US$2.17, reflecting a 1.6 percent increase over 24 hours. The cryptocurrency reached a daily low of US$2.16 and a high of US$2.18.
  • Sui (SUI) peaked at US$3.18, showing an increaseof 5.7 percent over the past 24 hours. Its lowest valuation on Friday was US$3.16, and its highest was US$3.19.
  • Cardano (ADA) is trading at US$0.663, up 2.8 percent over the past 24 hours. Its lowest price of the day was US$0.6604, and it reached a high of US$0.6693.

Today’s crypto news to know

Uber considers stablecoins for cost reduction

On stage at the San Francisco-based Bloomberg Tech Summit on Thursday (June 5), Uber Technologies (NYSE:UBER) CEO Dara Khosrowshahi said the company is “definitely going to take a look” at using stablecoins to help reduce the cost of moving money around the world.

“We’re still in the study phase, I’d say, but stablecoin is one of the, for me, more interesting instantiations of crypto that has a practical benefit other than crypto as a store of value,” he said. “Obviously, you can have your opinions on Bitcoin, but it’s a proven commodity, and you know, people have different opinions on where it’s going,” he added.

UK set to lift ban on retail access to crypto ETNs

The UK’s Financial Conduct Authority (FCA) has announced plans to lift its ban on retail investors buying crypto exchange-traded notes (ETNs), a major shift from its earlier risk-averse stance.

Initially barred due to concerns over volatility and investor protection, the FCA now says consumers should have the right to choose whether these high-risk assets fit their portfolios. David Geale, the FCA’s digital assets chief, said the move is part of a broader push to ‘rebalance’ the regulator’s approach to financial risk. The proposal, which would allow ETNs to be sold on FCA-registered investment exchanges, will now enter a public consultation phase.

This regulatory pivot follows the UK’s introduction of draft laws in April aimed at integrating crypto into the formal financial system. The FCA emphasized that its separate ban on crypto derivatives for retail traders will remain in place.

Switzerland adopts crypto information exchange bill

The government of Switzerland has adopted a bill to enable the automatic exchange of information (AEOI) on crypto with 74 partner countries, including the UK, all EU member states and most G20 countries.

The measure excludes the US, Saudi Arabia and China. The bill is currently under discussion in parliament and, if approved, the AEOI framework for crypto assets will take effect on Jan. 1, 2026.

Switzerland will only engage in AEOI with partner states that also desire information exchange with Switzerland.

Strategy to raise nearly US$1 billion to buy more Bitcoin

Strategy (NASDAQ:MSTR), the company known for its aggressive Bitcoin acquisition strategy, is launching a nearly US$1 billion capital raise through its new 10 percent Series A STRD preferred stock. The offering includes over 11 million shares and promises a high fixed yield, making it attractive to yield-hungry investors in a low-rate environment.

Unlike other Strategy offerings like STRK (convertible) and STRF (senior status), STRD offers the highest payout at 10 percent, but comes with more risk due to its non-cumulative dividend and junior status. Dividends are only issued when declared, and the shares cannot be called under normal market conditions.

Proceeds will go toward “general corporate purposes,” which notably include expanding its Bitcoin holdings.

Metaplanet plans US$5.3 billion warrant offering to scale Bitcoin treasury

Tokyo-based Metaplanet (OTCQX:MTPLF,TSE:3350) is taking its Bitcoin commitment to the next level with a massive US$5.3 billion stock warrant issuance, the largest of its kind in Japan.

The company is offering 555 million shares through stock acquisition rights, using a novel moving-strike pricing model that adjusts with market value — a first in the Japanese market.

This 555 Million Plan follows an earlier US$600 million raise and is part of Metaplanet’s goal to hold over 210,000 BTC by 2027, approximately 1 percent of total Bitcoin supply.

The vast majority of the proceeds — around 96 percent — will go toward direct Bitcoin purchases, while a small fraction will support debt management and derivative strategies like selling puts.

Maple Finance expands syrupUSD to Solana

Lending platform Maple Finance announced on Thursday that it has expanded user access by deploying its syrupUSD yield-bearing stablecoin to Solana-based platforms Kamino and Orca.

Previously, it had only been available on the Ethereum blockchain.

According to the announcement, Solana integration is launching with US$30 million in liquidity, which will establish “a deep and stable foundation for lending, trading, and collateral provisioning.’

This new system was made possible by using Chainlink’s Cross-Chain Interoperability Protocol (CCIP), which started operating on the Solana main network on May 19. CCIP lets different blockchain systems, specifically those using Ethereum Virtual Machine and Solana Virtual Machine technology, share information.

The ability to transfer data between these distinct blockchain environments is expected to significantly boost efficient and affordable growth within the digital ecosystem.

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.

This post appeared first on investingnews.com

Statistics Canada released its May Labour Force Survey on Friday (June 6). The data showed that nearly 9,000 new jobs were added to the workforce during the month. The news surprised analysts who were expecting losses of 12,500 as the effects of US trade tariffs began to be felt in the Canadian economy.

The biggest contributors to the gains were 43,000 new workers added in wholesale and retail trade; 19,000 new jobs in the information, culture and recreation category; and 12,000 new employees within the real estate and finance sector.

While these additions were significant, they were offset by the loss of 32,000 jobs in the public administration sector, as well as a decline of 16,000 workers in both the accommodation and food services sector and the transportation and warehousing sector. Additionally, 15,000 jobs were lost in the business, building and support services sector.

Despite the net job gains, unemployment registered a 0.1 percent gain to 7 percent, while the employment rate was stable at 60.8 percent.

Also this week, StatsCan released the Annual Mineral Production Survey for 2023 on Wednesday (June 4). The report showed that total revenues for metal ore mining and non-metallic mineral mining and quarrying industry groups in 2023 decreased by 9.3 percent to C$59.7 billion year-over-year. Meanwhile, expenses rose by 8.6 percent to C$43.2 billion during the same period.

South of the border, the US Bureau of Labor Statistics released May’s Employment Situation Summary on Friday. The report showed that the US labor market remained stable for the month, adding 139,000 nonfarm workers. The report also indicated that unemployment remained unchanged at 4.2 percent, while the participation rate decreased by 0.2 percent to 62.4 percent.

The largest gains were felt in the healthcare sector, which accounted for roughly half of the new jobs at 62,000, while the hospitality sector came in second with 48,000 new jobs. However, the economy was impacted by the loss of an additional 22,000 federal government employees, bringing the total number of federal job losses for the year to 59,000.

Human resources company ADP (NASDAQ:ADP) reported that US private sector employers added 37,000 new jobs in May, the lowest level since March 2023. This growth was wholly concentrated in mid-sized companies, with small and large establishments losing jobs. The natural resources and mining industry lost 5,000 jobs over the period.

Additionally, platinum prices have been on the rise over the last two weeks, highlighted by a nearly 10 percent surge during the past five days to US$1,160.79 per ounce on Friday. The gains may be related to the cancellation of EV tax credits proposed in the US tax bill working its way through Congress, as well as infighting between Tesla (NASDAQ:TSLA) CEO Elon Musk and US President Donald Trump following Musk’s departure from the Trump administration.

The threat has sent ripples through the automotive sector and may cause increased demand on an already stressed platinum market.

Markets and commodities react

In Canada, major indexes were mixed at the end of the week.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) climbed 0.93 percent during the week to close at 26,429.13 on Friday. The S&P/TSX Venture Composite Index (INDEXTSI:JX) had a larger gain of 3.06 percent to 721.60 and the CSE Composite Index (CSE:CSECOMP) rose 1.7 percent to 117.55.

US equities were in positive territory this week, with the S&P 500 (INDEXSP:INX) gaining 1.76 percent to close at 6,000.37, the Nasdaq-100 (INDEXNASDAQ:NDX) rising 2.31 percent to 21,761.79 and the Dow Jones Industrial Average (INDEXDJX:.DJI) adding 1.33 percent to 42,762.88.

The gold price was up this week, gaining 1.02 percent, to close Friday at US$3,322.73. The silver price saw more significant gains, surging 8.92 percent during the period to US$35.91, their highest since 2012.

In base metals, the COMEX copper price rose 4.78 percent over the week to US$4.86 per pound. Meanwhile, the S&P GSCI (INDEXSP:SPGSCI) posted a gain of 3.87 percent to close at 545.00.

Top Canadian mining stocks this week

How did mining stocks perform against this backdrop?

Take a look at this week’s five best-performing Canadian mining stocks below.

Stock data for this article was retrieved at 4 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered.

1. Africa Energy (TSXV:AFE)

Weekly gain: 275 percent
Market cap: C$71.87
Share price: C$0.15

Africa Energy is a South Africa-focused oil and gas exploration and development company.

Its flagship asset is Block 11B/12B located approximately 175 kilometers off the south coast of South Africa. The block covers an area of 18,734 square kilometers and depths between 200 meters and 1,800 meters.

Africa Energy previously held a 4.9 percent stake in the project through its 49/51 joint venture with Arostyle Investments named Main Street 1549, which owned 10 percent of the asset. The remaining partners were project operator TotalEnergies (NYSE:TTE) at 45 percent, Qatar Petroleum at 25 percent and CNR International (TSX:CNQ,NYSE:CNQ) at 20 percent.

Main Street 1549’s three partners announced plans to withdraw from the Block 11B/12B joint venture in July 2024, and discussions on restructuring the ownership had been underway since.

Shares in Africa Energy began surging May 29 after Africa Energy announced a definitive agreement for the new ownership structure of the Block 11B/12B asset.

Under the terms of the definitive agreement between Africa Energy and Arostyle Investments, Africa Energy will increase its ownership of Main Street from a 49 percent to 100 percent stake. Additionally, the withdrawing parties assigned 65 percent of their participating interest in Block 11B/12B to Main Street and 25 percent to Arostyle.

The result will see Africa Energy increase its stake in the asset from 4.9 percent to 75 percent.

2. Allegiant Gold (TSXV:AUAU)

Weekly gain: 95 percent
Market cap: C$17.24
Share price: C$0.39

Allegiant Gold is a gold exploration company working to advance several projects in Nevada, United States.

Its flagship project is Eastside, located in Esmeralda County, consists of 973 unpatented lode mining claims covering 8,289 hectares. Nearly 70,000 meters of drilling has been carried out at the property since 2011.

A July 2021 mineral resource estimate showed inferred quantities at the site of 1.09 million ounces of gold with an average grade of 0.55 g/t and 8.7 million ounces of silver with an average grade of 4.4 g/t from 61.73 million tons of ore.

The most recent news from the company was announced on May 29, when it stated that its previously announced one-for-two share consolidation would take effect on Monday, June 2.

3. LaFleur Minerals (CSE:LFLR)

Weekly gain: 89.66 percent
Market cap: C$37.46
Share price: C$0.275

LaFleur Minerals is an exploration and development company working to advance a pair of projects in Quebec, Canada.

Its Swanson Gold project consists of a 15,290 hectare land package in the southern portion of Quebec’s Abitibi gold belt. Historic drilling at the site has uncovered 958 holes, revealing broad mineralization with widths of up to 40 meters. Additionally, the site has also had underground workings to a vertical depth of 80 meters to carry out bulk sampling.

A September 2024 mineral resource estimate suggested total indicated resources of 123,400 ounces of gold from 2.11 million metric tons of ore with an average grade of 1.8 grams per metric ton (g/t) along with additional inferred quantities of 64,500 g/t from 872,000 metric tons with an average grade of 2.3 g/t.

The company’s other property, the Beacon Mill and Mine, is a past-producing mine, also located in the Abitibi gold belt. LaFleur acquired the mine in September 2024 as part of a receivership sale. Monarch Mining previously owned the mine, which has been on care and maintenance since 2022.

Most recently, the mine underwent a C$20 million refurbishment in 2022 and is capable of processing 750 metric tons of ore per day.

Shares in LaFleur gained this week after it announced updates for both properties on Wednesday.

At Swanson, it stated that it was planning a 5,000-meter drilling program, set to begin in June, with more than 50 targets having been identified. Additionally, the company announced that it is targeting early 2026 for the restart.

4. Eastern Platinum (TSX:ELR)

Weekly gain: 84.85 percent
Market cap: C$37.46
Share price: C$0.305

Eastern Platinum, also known as Eastplats, is a platinum group metal (PGM) and chrome mining, development and exploration company working to advance assets in South Africa.

Its most advanced asset is the Crocodile River mine, located northwest of Johannesburg. The mine began operating in 1987, but production was suspended in the early 1990s due to falling PGM prices. Since then, the mine saw some limited production in the early 2000s before once again being suspended.

After significant rehabilitation, chrome and PGM production from site tailings was restarted at the site in 2018 and 2020 respectively, and underground operations at the Zandfontein mine restarted in October 2023. In October of last year, Eastplats began commissioning a PGM processing plant that will process ore from Zandfontein.

A technical report from May 2022 demonstrated a proven and probable resource of 1.72 million ounces of platinum, palladium, rhodium and gold, with an average grade of 3.68 g/t from 14.58 million metric tons of ore.

Although the company did not release news this week, shares in Eastplats gained alongside a surging platinum price.

5. TNR Gold (TSXV:TNR)

Weekly gain: 58.33 percent
Market cap: C$15.06
Share price: C$0.095

TNR Gold is an exploration and royalty company with a focus on the acquisition of green energy and gold assets.

The company owns the Shotgun Gold project in Alaska’s Kuskokwim Gold Belt. The property consists of 108 claims covering an area of 6,993 hectares. A 2013 technical report showed inferred quantities of 705,960 ounces of gold from 20.73 million metric tons of gold with an average grade of 1.06 g/t with a cutoff of 0.5 g/t.

Its royalty investments include a 1.5 percent net smelter royalty from Ganfeng Lithium’s (OTC Pink:GNENF) Marina Lithium project in Argentina. It also holds a 0.4 percent net smelter royalty in McEwen Mining’s (NYSE:MUX,TSX:MUX) Los Azules Copper, Gold and Silver Project, also in Argentina.

The latest news from TNR came on May 14 when it released a corporate update. In the release the company highlighted its success from the royalty portion of its business, and provided updates from its key investments.

It also said it was looking to attract a partnership with a major gold mining company to help advance its Alaskan Shotgun project.

FAQs for Canadian mining stocks

What is the difference between the TSX and TSXV?

The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

How many mining companies are listed on the TSX and TSXV?

As of February 2025, there were 1,572 companies listed on the TSXV, 905 of which were mining companies. Comparatively, the TSX was home to 1,859 companies, with 181 of those being mining companies.

Together the TSX and TSXV host around 40 percent of the world’s public mining companies.

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

Article by Dean Belder; FAQs by Lauren Kelly.

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

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

This post appeared first on investingnews.com

Here’s a quick recap of some of the most impactful resource sector news items for the week.

The period saw the Ontario government back the Marathon copper-palladium project, while Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) opened up a US$2 billion iron ore mine. Elsewhere, Indonesia suspended nickel mining in a protected region, and Chile debuted a solar-powered model to cut water-pumping energy use in mining.

Marathon project gets shovel-ready nod from Ontario

Ontario has designated Generation Mining’s (TSX:GENM,OTCQB:GENMF) Marathon project as a shovel-ready strategic minerals project, urging the federal government to invest in its development.

The project, located in Northwestern Ontario, is fully permitted for construction and is expected to produce significant quantities of copper, palladium, platinum, gold and silver over its anticipated 13 year mine life.

The announcement comes after the release of an open letter to Tim Hodgson, Canada’s minister of energy and natural resources. It identifies priority projects for Ontario and was penned by provincial ministers Stephen Lecce, Mike Harris and Greg Rickford, as well as associate ministers Kevin Holland and Sam Oosterhoff.

“Building on the investments in the Ring of Fire and the critical minerals supply chain we urge the federal government to invest in shovel-ready strategic mineral projects that are critical to building a secure, domestic supply chain including…Generation Mining’s Marathon project,” the Thursday (June 5) letter reads.

The Ontario government is facing mounting backlash over the recent passage of Bill 5, the Protect Ontario by Unleashing our Economy Act. It grants the province authority to bypass certain provincial and municipal laws for projects deemed economically significant, aiming to expedite developments like mining operations.

However, Indigenous leaders and environmental groups have criticized the bill, arguing that it undermines treaty rights and environmental protections.

Rio Tinto and Baowu open US$2 billion iron ore mine

Rio Tinto and China Baowu Steel Group have opened the Western Range iron ore mine in Western Australia’s Pilbara region, marking a significant milestone in both resource development and Indigenous collaboration.

The US$2 billion joint venture, owned 54 percent by Rio Tinto and 46 percent by Baowu, is projected to produce up to 25 million metric tons of iron ore annually, sustaining the Paraburdoo mining hub for approximately 20 years.

Western Range is the first Rio Tinto project to implement a co-designed social, cultural and heritage management plan (SCHMP) with the Yinhawangka Traditional Owners.

Established in 2022, the SCHMP aims to protect significant cultural and heritage values in the area.

Robyn Hayden, Yinhawangka Aboriginal Corporation board chairwoman, emphasized the importance of this collaboration. “The opening of the Western Range mine represents a shift in how our heritage is being recognised and respected,” she is quoted as saying in Rio Tinto’s Friday (June 6) press release.

Alongside the Western Range opening, Rio Tinto announced that development is moving forward at its Oyu Tolgoi copper-gold mine in Mongolia under an alternative mine plan.

While ramp up remains on track, with output from Panel 0 and Panel 2 expected in 2025 and 2026, the company has paused development in the Entrée Resources (TSX:ETG,OTCQB:ERLFF) joint venture area.

The pause will remain in place until the Mongolian government completes a necessary license transfer. Rio Tinto is instead accelerating work in Panel 2 South, which lies outside the Entrée joint venture zone. Copper guidance for 2025 remains unchanged at 780,000 to 850,000 metric tons.

Indonesia reviews nickel mining in biodiversity hotspot

Indonesia’s government has initiated a review of nickel-mining activities in the Raja Ampat archipelago, a region renowned for its rich biodiversity and often referred to as the ‘last paradise.’

The decision follows public outcry and Greenpeace Indonesia’s release of videos highlighting environmental degradation caused by nickel-mining operations on the islands of Gag, Kawe and Manuran

Greenpeace’s analysis indicates that over 500 hectares of forest and native vegetation have been cleared for nickel mining in these areas, leading to soil runoff and sedimentation that threaten coral reefs and marine ecosystems. These islands are classified as small islands under Indonesian law, which prohibits mining activities in such regions.

Hanif Faisol Nurofiq, Indonesia’s environment minister, announced plans to visit the affected areas and stated that the government will take legal action against mining firms operating there after conducting thorough studies.

The energy ministry also suspended operations at Gag Nikel’s operations in Raja Ampat pending an inspection.

The nation is the world’s top producer of nickel, outputting 2.2 million metric tons in 2024. Indonesia’s nickel sector has undergone major shifts in 2025, with the government slashing mining quotas in response to falling prices and pledging to implement stricter ESG standards across its resource industries.

Nickel prices have been turbulent this year, opening the 12 month period at US$15,010 per metric ton and rising to a year-to-date high of US$16,440 in mid-March. Supply saturation weighed on the market through to April, when values sank to a year-to-date low of US$13,805. Prices have since rebounded and are sitting at the US$15,285 level.

Chile unveils model to reduce energy footprint for seawater use in mining

According to a recently published study, Chilean researchers at the Department of Electrical Engineering at the University of Concepción have developed a real-time energy management model that uses predictive economic control to optimize power use in large-scale water-pumping stations.

The model was tested on a system supplying a reverse osmosis plant in Northern Chile, and integrates solar photovoltaic energy and battery storage to reduce costs and improve efficiency.

The site features seven 1,343 kilowatt pumps that transport water 120 kilometers uphill over a 1,000 meter elevation gain. Simulations compared conventional operation with hybrid setups using solar and Tesla (NASDAQ:TSLA) Megapack batteries, showing the potential for more sustainable and cost-effective water transport.

‘The study was motivated by the sustained increase in electricity consumption associated with pumping seawater for mineral concentration processes, an increasingly common practice in areas with water scarcity,” said Daniel Sbarbaro, a researcher at SERC Chile and author of the paper.

This development is significant for lithium miners in Chile’s Atacama Desert, where freshwater resources are scarce and the mining industry increasingly relies on seawater desalination for operations.

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

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