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Pakistan says it has struck military targets inside India in series of new attacks

Pakistan’s armed forces said they hit back at India, targeting military sites, after India fired missiles at three of its air bases in a frightening escalation between the two nuclear-armed neighbors.

India had earlier targeted the three air bases inside Pakistan with missiles, most of which were intercepted, on Saturday, Pakistani military officials said. 

The strike marks the latest escalation between the nuclear-armed rivals, a move triggered by a mass shooting that India blames Pakistan for.

In a televised address, Pakistani army spokesman, Lt. Gen. Ahmad Sharif, said the country’s air force assets were safe. 

He added that some of the Indian missiles also hit India’s eastern Punjab. There was no immediate comment from India.

‘This is a provocation of the highest order,’ Sharif said.

The missiles targeted Nur Khan air base in the garrison city of Rawalpindi, Murid air base in Chakwal city and Rafiqui air base in the Jhang district of eastern Punjab province, Sharif said. 

Some of the missiles landed in Afghanistan, he said. 

‘I want to give you the shocking news that India fired six ballistic missiles from its city of Adampur,’ said Sharif. One of the ballistic missiles hit Adampur, the remaining five missiles hit the Indian Punjab area of Amritsar.’

Earlier this week, Pakistan shot down more than two dozen drones.

The fraught relationship between the neighboring nations hit a low following an attack at a popular tourist area in India-controlled Kashmir, leaving 26 people dead. 

Most of those killed were Hindu tourists. India has blamed Pakistan, which denies any involvement.

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Mexico sues Google for changing ‘Gulf of Mexico’ to ‘Gulf of America’ after Trump’s order

Mexico has filed a lawsuit against Google after it changed the label for the Gulf of Mexico to the Gulf of America on its maps platform to match U.S. President Donald Trump’s executive order to amend the name of the body of water, Mexican President Claudia Sheinbaum announced Friday.

Sheinbaum said at a press briefing that the lawsuit had been filed against the tech giant, without providing additional details.

The lawsuit comes after Sheinbaum threatened in February to sue Google for the name change.

‘We are going to wait. We are already seeing, observing what this would mean from the perspective of legal advice, but we hope that they will make a revision,’ Sheinbaum said at the time.

Mexico’s Foreign Relations Ministry has also previously sent letters to Google urging it not to relabel the oceanic basin as the Gulf of America.

Trump signed an order on his first day back in the White House in January to rename the northern part of the gulf to the Gulf of America. The body of water has shared borders between the United States and Mexico, and Trump’s order only carries authority within the U.S.

Mexico has argued that the Gulf of America label should only apply to the part over the U.S. continental shelf. The U.S. has control over about 46% of the gulf, Mexico controls about 49% and Cuba controls about 5%, according to Sovereign Limits, a database of international boundaries.

‘What Google is doing here is changing the name of the continental shelf of Mexico and Cuba, which has nothing to do with Trump’s decree, which applied only to the U.S. continental shelf,’ Sheinbaum said in February.

The gulf appears in Google Maps as the Gulf of America within the U.S., as the Gulf of Mexico within Mexico and Gulf of Mexico (Gulf of America) everywhere else. It had been called the Gulf of Mexico for more than 400 years.

Google Maps began using Gulf of America for users in the U.S. shortly after Trump’s order, citing its ‘longstanding practice’ of following the U.S. government’s lead on these matters. In cases where official names vary between countries, Google’s policy says users will see their official local names.

In February, the Mexican president shared a response from Google’s vice president of government affairs and public policy, Cris Turner, who said the company would not change its policy after Trump’s order.

Sheinbaum’s announcement of the lawsuit comes after House Republicans passed the Gulf of America Act in a 211-206 vote, marking the first step in codifying Trump’s order. The legislation now heads to the Senate.

Fox News Digital has reached out to Google for comment. 

The Associated Press contributed to this report.

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Denmark PM says ‘you cannot spy against an ally’ following reports of US spying on Greenland

Denmark Prime Minister Mette Frederiksen said Friday that ‘you cannot spy against an ally’ in response to reports that the U.S. was gathering intelligence on Greenland, as U.S. President Donald Trump has continued to suggest purchasing the Arctic island.

‘Cooperation about defense and deterrence and security in the northern part of Europe is getting more and more important,’ Frederiksen told The Associated Press. ‘Of course, you cannot spy against an ally.’

Frederiksen made the comments as Denmark and Greenland push back on Trump’s desire to acquire the autonomous Danish territory, stressing that it is not for sale. Trump, however, has not ruled out taking it by military force despite Denmark being a NATO ally.

‘I don’t rule it out. I don’t say I’m going to do it, but I don’t rule out anything,’ Trump said earlier this week during an interview on NBC News’ ‘Meet the Press.’ 

‘We need Greenland very badly. Greenland is a very small amount of people, which we’ll take care of and we’ll cherish them and all of that, but we need that for international security,’ he added.

The Danish prime minister’s statement on Friday came the day after Denmark summoned the top American diplomat in the country for an explanation to a report from The Wall Street Journal about several high-ranking officials under the U.S. director of national intelligence, Tulsi Gabbard, directing intelligence agency heads to collect information on Greenland’s independence movement and views about U.S. resource extraction on the island.

Acting head of the U.S. Embassy in Copenhagen, Jennifer Hall Godfrey, met with Danish diplomat Jeppe Tranholm-Mikkelsen at the Danish Foreign Ministry, although details of the meeting were not disclosed.

Greenlandic Prime Minister Jens-Frederik Nielsen told Greenland newspaper Sermitsiaq that the reports of U.S. espionage are unacceptable and disrespectful. 

Nielsen said last month that Greenland ‘will never, ever be a piece of property that can be bought by just anyone’ and that ‘the talks from the United States have not been respectful.’

Gabbard’s office released a statement saying she had made three ‘criminal’ referrals to the U.S. Justice Department over intelligence community leaks in response to the report from The Wall Street Journal, which cited two sources familiar with the matter.

‘The Wall Street Journal should be ashamed of aiding deep state actors who seek to undermine the President by politicizing and leaking classified information,’ Gabbard said. ‘They are breaking the law and undermining our nation’s security and democracy. Those who leak classified information will be found and held accountable to the fullest extent of the law.’

The Associated Press contributed to this report.

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Trump inks trade deal with UK, previews China trade negotiations during 16th week in office

President Donald Trump and his administration inked a major trade deal with the U.K. Thursday, and closed the week gearing up for trade talks with China over the weekend. 

Details of the specific trade plan with the U.K. are sparse, but the deal keeps the existing 10% tariffs in place against U.K. goods while removing some import taxes on items like steel and cars. 

‘With this deal, the U.K. joins the United States in affirming that reciprocity and fairness is an essential and vital principle of international trade,’ Trump said Thursday. ‘The deal includes billions of dollars of increased market access for American exports, especially in agriculture, dramatically increasing access for American beef, ethanol and virtually all of the products produced by our great farmers.’ 

The deal is the first historic trade negotiation signed following Liberation Day, when Trump announced widespread tariffs for multiple countries April 2 at a range of rates. 

The administration later adjusted its initial proposal and announced April 9 it would immediately impose a 145% tariff on Chinese goods, while reducing reciprocal tariffs on other countries for 90 days to a baseline of 10%. China responded by raising tariffs on U.S. goods to 125%.

Trump also shed some insight into trade negotiations with China, given that Treasury Secretary Scott Bessent is scheduled to kick off trade negotiations with China in Switzerland Saturday. 

‘Scott’s going to be going to Switzerland, meeting with China,’ Trump told reporters Thursday at the White House. ‘And you know, they very much want to make a deal. We can all play games. Who made the first call, who didn’t make them? It doesn’t matter. Only matters what happens in that room. But I will tell you that China very much wants to make a deal. We’ll see how that works out.’

Here’s what also happened this week: 

Meeting with Canada’s prime minister 

Trump also doubled down on his interest in expanding the U.S. during a Tuesday visit with Canada’s prime minister, Mark Carney. 

Trump regularly has said he wants Canada to become a U.S. state, and has discussed acquiring Greenland and the Panama Canal for security purposes. However, the matter of Canada isn’t open to negotiation, Carney said. 

‘Having met with the owners of Canada over the course of the campaign the last several months, it’s not for sale,’ Carney said at the White House Tuesday. ‘Won’t be for sale ever, but the opportunity is in the partnership and what we can build together. We have done that in the past, and part of that, as the president just said, is with respect to our security, and my government is committed for a step change in our investment in Canadian security and our partnership.’

While Trump acknowledged that Canada was stepping up its investment in military security, he said, ‘Never say never’ in response to Canada becoming another state. 

‘I’ve had many, many things that were not doable, and they ended up being doable,’ Trump said.

 

Meeting with ballet dancer freed from Russian prison 

Trump also met with Russian-American ballet dancer, Ksenia Karelina, at the White House Monday. Karelina faced a sentence of 12 years in a Russian penal colony for treason in 2024, but the Trump administration negotiated her return to the U.S. during a U.S.-Russian prisoner swap in April. 

‘Mr. Trump, I’m so, so grateful for you to bring me home and for (the) American government. And I never felt more blessed to be American, and I’m so, so happy to get home,’ Karelina said in a video posted by Trump deputy assistant Sebastian Gorka on April 11 upon her return to the U.S.

Karelina, a resident of Los Angeles who was born in Russia, was arrested in 2024 during a trip to visit family in Yekaterinburg, Russia. Russia Federal Security Service arrested her after inspecting her phone and finding a donation to a U.S.-based charity that supports Ukraine. 

Fox News’ Emma Colton contributed to this report. 

This post appeared first on FOX NEWS

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Crypto Market Recap: Bitcoin Breaks US$100,000 as ETF Inflows Rise, Coinbase Makes US$2.9 Billion Power Play

Here’s a quick recap of the crypto landscape for Friday (May 9) 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$103,027 as markets opened, up 1.3 percent in 24 hours. After breaking through the US$100,000 threshold Thursday (May 8) the digital asset has found support. The day’s range has seen a low of US$102,871 and a high of US$103,672.

Bitcoin performance, May 9, 2025.

Chart via TradingView.

Bitcoin’s recent price surge is driven by the US government’s decision to legalize strategic Bitcoin reserves—boosting investor confidence and signaling institutional backing—alongside growing global adoption supported by favorable regulations and broader acceptance across sectors.

Ethereum (ETH) started the trading day at US$2,220 and quickly rallied. The cryptocurrency reached an intraday low of US$1,792.06 and saw a daily high of US$2,415.

Altcoin price update

  • Solana (SOL) opened at US$169.63 up 4.57 percent over 24 hours. SOL experienced a low of US$151.51 and a high of US$171.39.
  • XRP was trading at US$2.33, reflecting a 5 percent increase over 24 hours. The cryptocurrency reached a daily high of US$2.36 midday.
  • Sui (SUI) was priced at US$3.80, showing an increaseof 0.50 percent over the past 24 hours. It achieved a daily low of US$3.36 and a high of US$3.92.
  • Cardano (ADA) is trading at US$0.7866, up 7 percent over the past 24 hours. Its lowest price of the day was US$0.71, and it reached a high of US$0.79.

Today’s crypto news to know

Bitcoin surges past $100,000 amid trade optimism and institutional inflows

Bitcoin (BTC) has reclaimed the US$100,000 mark for the first time since February, driven by optimism surrounding a new US-UK trade deal and significant institutional investments. On May 8, US Bitcoin ETFs saw net inflows totaling US$117.4 million, with BlackRock’s IBIT and Fidelity’s FBTC leading the gains.

Additionally, the Federal Reserve’s decision to hold interest rates steady has bolstered investor confidence in crypto markets.

Coinbase acquires Deribit in landmark US$2.9 billion crypto derivatives deal

Coinbase has announced its acquisition of Deribit, a leading crypto derivatives exchange, for $2.9 billion—the largest deal in the crypto industry to date. This strategic move positions Coinbase to expand its offerings in the crypto options market, catering to the growing demand for advanced trading products.

The acquisition includes US$700 million in cash and 11 million shares of Coinbase Class A common stock. Deribit, which processed US$1.2 trillion in trading volume last year, controls approximately 85 percent of the global crypto options market.

This deal is expected to enhance Coinbase’s presence in the international derivatives market and diversify its revenue streams.

Analysts view the acquisition as a significant step for Coinbase to compete with other major exchanges like Binance and Kraken in the derivatives space. The transaction is subject to regulatory approvals and is anticipated to close later this year. Until then, Deribit will continue its operations as usual.

Celsius founder sentenced to 12 years for crypto fraud

Alex Mashinsky, founder and former CEO of Celsius Network, has been sentenced to 12 years in federal prison for defrauding customers and manipulating the price of the company’s CEL token.

Between 2018 and 2022, Mashinsky misled investors about the safety of their funds, using customer deposits to inflate CEL’s value and personally profiting over US$48 million. Celsius, which once managed over US$25 billion in assets, collapsed in 2022 amid a broader crypto market downturn, leaving thousands of users unable to access their funds.

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

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7 Copper ETFs and ETNs

There’s more than one way to invest in copper. In addition to buying shares of copper stocks, investors can gain exposure through copper exchange-traded funds (ETFs) or copper exchange-traded notes (ETNs).

For the uninitiated, ETFs are securities that trade like stocks on an exchange, but track an index, commodity, bonds or a basket of assets like an index fund. In the case of base metal copper, there are various options — an ETF can track specific groups of copper-focused companies, as well as copper futures contracts or even physical copper.

ETNs also track an underlying asset and trade like stocks on an exchange, but they differ from ETFs in some ways. Specifically, ETNs are more like bonds — they are unsecured debt notes issued by an institution, and can be held to maturity or bought and sold at will. The main disadvantage to be aware of is that investors risk total default if an ETN’s underwriter goes bankrupt.

The copper outlook is strong as demand rises and concerns about supply increase as the energy transition gains traction. This has caused many investors to wonder how to take advantage of the potential in the copper market.

1. Global X Copper Miners ETF (ARCA:COPX)

Assets under management: US$2.09 billion

The Global X Copper Miners ETF tracks the Solactive Global Copper Miners Index, which covers copper exploration companies, developers and producers. The fund has an expense ratio of 0.65 percent.

The fund currently has 39 holdings, with the top three companies being First Quantum Minerals (TSX:FM,OTC Pink:FQVLF), Freeport-McMoRan (NYSE:FCX) and Lundin Mining (TSX:LUN,OTC Pink:LUNMF).

2. United States Copper Index Fund (ARCA:CPER)

Assets under management: US$162.94 million

The United States Copper Index Fund aims to give investors exposure to a portfolio of copper futures without using a commodity futures account. It has an expense ratio of 1.04 percent.

The fund tracks the performance of the SummerHaven Copper Index Total Return (INDEXNYSEGIS:SCITR), which is calculated based on certain copper futures contracts selected on a monthly basis.

3. Sprott Physical Copper Trust (TSX:COP.U,OTCQX:SPHCF)

Assets under management: US$96.59 million

A relatively new ETF, the Sprott Physical Copper Trust was established in July 2024 and is one of the first funds to be based around physical copper. The fund has an expense ratio of 2.03 percent.

As of the start of May 2025, the fund held 10,157 metric tons of copper worth US$96.59 million.

4. iShares Copper and Metals Mining ETF (NASDAQ:ICOP)

Assets under management: US$50.63 million

The iShares Copper and Metals Mining ETF tracks the STOXX Global Copper and Metals Mining Index, which is composed of public companies primarily engaged in copper and metal mining. It has an expense ratio of 0.47 percent.

The fund represents a global portfolio of 41 copper companies. Its top three holdings are Grupo Mexico (OTC Pink:GMBXF,BMV:GMEXICOB), BHP (NYSE:BHP,ASX:BHP,LSE:BHP) and Freeport McMoRan.

5. Sprott Copper Miners ETF (NASDAQ:COPP)

Assets under management: US$23.65 million

Sprott Asset Management bills its Sprott Copper Miners ETF as ‘the only pure-play ETF focused on large-, mid- and small-cap copper mining companies that are providing a critical mineral necessary for the clean energy transition.’

It came to market in March 2024, and has an expense ratio of 0.65 percent.

The fund is made up of a portfolio of 49 companies and has a market cap of US$279 billion; it is rebalanced twice a year in June and December. The fund’s top three holdings are Freeport-McMoRan, Teck Resources (TSX:TECK.A,TECK.B,NYSE:TECK) and Ivanhoe Mines (TSX:IVN,OTCQX:IVPAF).

6. Sprott Junior Copper Miners ETF (NASDAQ:COPJ)

Assets under management: US$12.6 million

Launched in February 2023, the Sprott Junior Copper Miners is a pure-play ETF that, as its name suggests, is focused on small-cap copper miners. It has an expense ratio of 0.76 percent.

The fund consists of 40 companies, and its top three holdings are Northern Dynasty Minerals (TSX:NDM,NYSEAMERICAN:NAK), Solaris Resources (TSX:SLS,NYSEAMERICAN:SLSR) and Atalaya Mining (LSE:ATYM).

Like Sprott’s other copper fund on this list, COPJ is rebalanced twice a year in June and December.

7. iPath Series B Bloomberg Copper Subindex Total Return ETN (OTC Pink:JJCTF)

Assets under management: US$6.9 million

The iPath Series B Bloomberg Copper Subindex Total Return ETN provides exposure to the Bloomberg Copper Subindex Total Return. According to Barclays (LSE:BARC), the note ‘reflects the returns that are potentially available through an unleveraged investment in the futures contracts on copper.’ It is tied to the high-grade copper futures contract available on the Comex and carries an expense ratio of 0.75 percent.

Unlike an ETF, an ETN does not own the underlying asset. Instead, an ETN functions in the same way as an uninsured bond. Investopedia states that investors take their profits when they sell the note or it reaches maturity.

Securities Disclosure: I, Dean Belder, hold shares of Northern Dynasty Minerals.

This post appeared first on investingnews.com

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Triumph Gold Updates Shareholders on Operations, Engages Market Maker, and Grants Options

  • Reviews 2025 exploration strategy across Freegold Mountain and Andalusite Peak
  • Advances acquisition strategy targeting high-grade silver assets
  • Engages Independent Trading Group to improve trading liquidity

triumph gold Corp. (TSXV: TIG) (OTC Pink: TIGCF) (FSE: 8N61) is pleased to provide an operational update as it enters 2025 with a refined exploration focus, strategic growth objectives, and a commitment to responsible development. The Company also announced it has engaged a market maker and granted incentive stock options.

Leadership and Direction

triumph gold continues under the leadership of John Anderson, Chairman and Interim Chief Executive Officer. With over 25 years of experience in the capital markets and resource sectors, Anderson has guided the Company since its early days as Northern Freegold.

‘We’ve taken meaningful steps to streamline operations and position the Company for disciplined growth,’ said Anderson. ‘With strong core assets, a focused strategy, and improving market conditions for gold and copper, Triumph prepares to enter the second quarter of 2025 ready to pursue opportunities that create long-term value’.

Key Assets and Positioning

Freegold Mountain Project

Located in Yukon, the flagship Freegold Mountain Project hosts over 2 million gold equivalent ounces across three mineralized zones, as defined in a 2020 NI 43-101 resource estimate. These deposits provide exposure to high-grade gold, copper, molybdenum, and tungsten at a time of increasing demand for critical minerals.

Andalusite Peak Property

Triumph’s Andalusite Peak copper-gold project is located in British Columbia’s Golden Horseshoe region, in proximity to major porphyry systems such as Saddle North and Red Chris. The Company plans to advance exploration in 2025 through geochemical surveys and mapping.

Favourable Jurisdictions
All assets are situated in well-established, mining-friendly regions of Yukon and British Columbia, offering stable permitting frameworks and access to infrastructure.

2025 Growth Strategy

triumph gold’s 2025 strategy centers on project advancement, portfolio expansion, and disciplined exploration:

  • Strategic Acquisitions
    The Company is evaluating potential acquisitions of high-quality silver projects to complement and diversify its current asset base.

  • Advancing Andalusite Peak
    Located in British Columbia’s Golden Horseshoe near Newmont’s Saddle North and Red Chris projects, the Andalusite Peak property will focus on geochemical surveys and detailed geological mapping in 2025.

  • Expanding Freegold Mountain Exploration
    Triumph will review historical datasets and define new exploration targets outside current resource zones to support potential discoveries.

Commitment to Responsible Development

triumph gold is committed to responsible exploration and development. The Company maintains active engagement with First Nations and local communities, recognizes the traditional territories on which its projects are located, and prioritizes environmental stewardship and cultural respect in all exploration activities.

Triumph Engages Independent Trading Group (‘ITG‘) as Market Maker

triumph gold announces that subject to regulatory approval, it has engaged the services of Independent Trading Group (‘ITG’) to provide market-making services in accordance with TSX Venture Exchange TSXV, CSE, and Cboe Canada policies. ITG will trade shares of the Company on the CSE/ Cboe Canada/ TSXV and all other trading venues to maintain a reasonable market and improve the liquidity of the Company’s common shares.

Under the agreement, ITG will receive compensation of CAD$6,500 per month, payable monthly in advance. The agreement is for an initial term of one month and will renew for additional one-month terms unless terminated. The agreement may be terminated by either party with 30 days’ notice. No performance factors are contained in the agreement, and ITG will not receive shares or options as compensation. ITG and the Company are unrelated and unaffiliated entities. At the time of the agreement, neither ITG nor its principals have an interest, directly or indirectly, in the securities of the Company.

triumph gold Issues Stock Options

The Company has granted 4,750,000 incentive stock options to directors, officers, employees, and consultants. The options are exercisable at $0.27 per share for a period of five years, with immediate vesting.

The options were granted pursuant to triumph gold’s rolling stock option plan, which has been approved by shareholders and the TSX Venture Exchange. This issuance is intended to retain and motivate key contributors and align long-term interests with those of shareholders.

Looking Ahead

triumph gold is entering 2025 with momentum, a clear strategy, and a commitment to shareholder value. The Company thanks its shareholders for their continued support and looks forward to sharing further updates in the months ahead. For more information or investor inquiries, please email John Anderson, Chairman & Interim CEO, at janderson@triumphgoldcorp.com.

About triumph gold Corp.

triumph gold is a Canadian-based, growth-oriented exploration and development company with a district-scale land package in the mining-friendly Yukon. Led by an experienced management and technical team, The Company is focused on actively advancing its flagship Freegold Mountain Project using multidiscipline exploration and evaluation techniques.

The road-accessible Freegold Mountain Project, located in the Dawson Range Au-Cu Belt, is host to three NI 43-101 Mineral Deposits (Nucleus, Revenue, and Tinta Hill). The Project is 200 square kilometres and covers an extensive section of the Big Creek Fault Zone, a structure directly related to epithermal gold and silver mineralization and gold-rich porphyry copper mineralization.

The Company owns 100% of the Big Creek and Tad/Toro gold-silver-copper properties situated along the strike of the Freegold Mountain Project within the Dawson Range.

The Company also owns 100% of the Andalusite Peak copper-gold property, 36 km southeast of Dease Lake within the Stikine Range in British Columbia.

triumph gold acknowledges the traditional territories of the Little Salmon Carmacks First Nation and Selkirk First Nation, on which the Company’s Yukon mineral exploration projects are located. triumph gold has a longstanding, ongoing engagement with these First Nations through communication, environmental stewardship, and local employment.

For more information, please visit triumphgoldcorp.com.

For further information about triumph gold, please contact:

John Anderson, Executive Chairman
triumph gold Corp.
(604) 218-7400
janderson@triumphgoldcorp.com

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

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectations. Important factors – including the availability of funds, the results of financing efforts, the completion of due diligence and the results of exploration activities – that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on SEDAR (see www.sedarplus.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251572

News Provided by Newsfile via QuoteMedia

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Investing in Uranium ETFs: 9 Options for Uranium Exposure

Exchange-traded funds (ETFs) are one of the fastest-growing investment vehicles, and as uranium’s role in the energy transition grows, investors are becoming increasingly interested in uranium ETFs and related products.

After years of dormancy, the uranium spot price zoomed past the US$100 per pound level in early 2024 on supply risks and a strong outlook for long-term demand. Although it’s since pulled back, bulls believe it still has room to run.

Supporting factors include the lack of new uranium mines, Russia’s dominance in conversion and enrichment, rising demand for low-carbon energy sources and the continued development and deployment of small modular reactors.

There is also increasing demand for uranium from China and India as both of these countries grapple with air pollution in the face of growing electricity demand. China is working to expand its nuclear power capacity, and although it ranks among the top 10 uranium-producing countries, it relies heavily on uranium imports.

Compounded, these factors are creating a mounting supply deficit.

“This year, uranium mines will only supply 75 percent of demand, so 25 percent of demand is uncovered,” Amir Adnani, CEO and president of Uranium Energy (NYSEAMERICAN:UEC), said at a January 2025 event.

Although the fundamentals are promising, the U3O8 spot price has faced pressure in 2025, with prices below US$80 since the start of the year. As supply tightens, incentivizing new projects to come online is becoming imperative.

“Next year, uranium demand is going up because there are 65 reactors under construction, and we haven’t even started talking about small and advanced modular reactors,” Adnani said. “Small and advanced modular reactors are an additional source of demand that, maybe not next year, but within the next three to four years, can become a reality.”

As mentioned, that backdrop is helping uranium ETFs and related investment products gain steam. Today there are five uranium ETFs available, as well as four investment vehicles backed by physical uranium — and perhaps more to come.

Read on to learn about the uranium ETFs and related vehicles on offer. All data was current as of May 5, 2025.

Uranium ETFs tracking uranium stocks

1. Global X Uranium ETF (ARCA:URA)

Total asset value: US$2.7 billion

The Global X Uranium ETF tracks a basket of uranium miners, as well as nuclear component producers.

The fund has an expense ratio of 0.69 percent and a yearly return of negative 17.23 percent, a decline that coincides with the recent pullback in the uranium price.

Uranium companies account for a significant portion of its portfolio, and nearly half of those companies are Canadian. The ETF’s top two uranium company holdings are major uranium producer Cameco (TSX:CCO,NYSE:CCJ) at a weight of 22.31 percent and NexGen Energy (TSX:NXE) at 5.64 percent. Interestingly, one of its top three holdings is the Sprott Physical Uranium Trust (TSX:U.U) at a weight of 8.52 percent.

2. Sprott Uranium Miners ETF (ARCA:URNM)

Total asset value: US$1.32 billion

The Sprott Uranium Miners ETF includes both uranium producers and explorers for broader exposure. The fund has an expense ratio of 0.75 percent and a yearly return of negative 34.69 percent.

Uranium stocks with market caps under US$2 billion account for 48.7 percent of the ETF’s holdings. Its top three holdings are Cameco at 15.28 percent, the Sprott Physical Uranium Trust at 13.21 percent and Kazatomprom (LSE:59OT,OTC Pink:NATKY) at 12.99 percent.

3. VanEck Vectors Uranium + Nuclear Energy ETF (ARCA:NLR)

Total asset value: US$1.02 billion

The VanEck Vectors Uranium + Nuclear Energy ETF launched in 2007 and tracks a market-cap-weighted index of stocks in the uranium and nuclear energy industries. Its expense ratio is 0.61 percent and its yearly return is negative 0.12 percent.

This uranium ETF’s top three holdings are Constellation Energy Group (NASDAQ:CEG) at a weight of 8.49 percent, Public Service Enterprise Group (NYSE:PEG) at 7.38 percent and Endesa (OTC Pink:ELEZF,SSE:ELE) at 6.95 percent.

4. Sprott Junior Uranium Miners ETF (NASDAQ:URNJ)

Total asset value: US$232.29 million

The Sprott Junior Uranium Miners ETF launched in February 2023, making it one of the newest additions to the uranium ETF universe. The ETF has an expense ratio of 0.8 percent and a yearly return of negative 15.51 percent.

It tracks the NASDAQ Sprott Junior Uranium Miners Index (INDEXNASDAQ:NSURNJ), which follows small-cap uranium companies. The fund’s 33 holdings are all uranium mining, development or exploration companies. Its top three holdings are Paladin Energy (ASX:PDN,OTCQX:PALAF) at 12.46 percent, Uranium Energy (NYSEAMERICAN:UEC) at 10.32 percent and NexGen Energy at 10.25 percent.

5. Horizons Global Uranium Index ETF (TSX:HURA)

Total asset value: US$55.08 million

The Horizons Global Uranium Index ETF was Canada’s first pure-play uranium ETF and provides exposure to uranium industry growth. It has an expense ratio of 1.06 percent and a yearly return of negative 25.2 percent.

Created in 2019, the fund’s top holdings are Cameco with a weight of 20.68 percent, Kazatomprom at a weight of 17.12 percent and the Sprott Physical Uranium Trust at 15.25 percent.

Physical uranium investment vehicles

1. Sprott Physical Uranium Trust (TSX:U.U)

Total asset value: US$4.09 billion

Of all the uranium-focused funds, this one has created the most buzz. Launched in July 2021, the Sprott Physical Uranium Trust quickly made its mark on the sector, stoking investor interest and prices for the commodity.

The fund holds 66.22 million pounds of U3O8, has an expense ratio of 0.64 percent and has a yearly return of negative 34.57 percent.

2. Yellow Cake (LSE:YCA,OTCQB:YLLXF)

Total asset value: US$983.66 million

Founded in 2018, Yellow Cake is a uranium company that provides investment exposure to the uranium spot price through its physical holdings of uranium and uranium-related commercial activities.

Yellow Cake’s current holdings total 21.68 million pounds of U3O8. Its access to material volumes of uranium at prevailing market prices comes via its long-term partnership with Kazatomprom. Through this partnership, it has the option to purchase up to US$100 million of uranium annually through 2027.

3. Zuri-Invest Uranium AMC

Total asset value: US$1.65 billion

Launched in April 2023, Zuri-Invest’s product is directly linked to physical uranium, and is the first actively managed certificate (AMC) in the sector. According to Zuri-Invest, “an AMC is a security that can be managed on a discretionary basis enabling the active management of a chosen investment strategy.”

Qualified non-US institutional and professional investors can take part in this physical uranium AMC (Swiss ISIN code CH1214916533) through their bank. The custodian of the product is Cameco, which holds the physical uranium in a secure storage facility in Canada.

4. xU3O8

Total asset value: US$5.93 million

One of the newest ways to gain exposure to physical uranium is through the token xU3O8.

Using the power of the Tezos blockchain and real-world asset tokenization, the xU3O8 token from uranium.io gives investors the ability to directly own and trade physical uranium. Launched in 2024, xU3O8’s 38,464.62 kilograms of U3O8 are stored at a secure Cameco facility, with Archax acting as trustee.

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

This post appeared first on investingnews.com

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Buffett Hands Over Reins, What’s Next for Berkshire’s Capital Strategy?

Legendary investor Warren Buffett is stepping down as CEO of Berkshire Hathaway (NYSE:BRK.A,NYSE:BRK.B) after six decades at the helm — but he’s still not yet ready to retire.

In a media release on Monday (May 5), Berkshire said that its board of directors unanimously has voted to appoint Greg Abel, vice chairman, non-insurance operations, as president and CEO come January 2026.

Buffett will remain the chairman of the board of directors.

Buffett has held the position of CEO at Berkshire since 1970, with Abel confirmed as his successor in 2021.

What is Buffett’s strategy?

Buffett took control of Berkshire in 1965, back when the company was a struggling textile manufacturer.

In a 2010 letter to shareholders, he recounted his experience in those early days:

‘Berkshire was then only intextiles, where it had in the previous decade lost significant money. The dumbest thing I could have done was topursue ‘opportunities’ to improve and expand the existing textile operation – so for years that’s exactly what Idid. And then, in a final burst of brilliance, I went out and bought another textile company. Aaaaaaargh!Eventually I came to my senses, heading first into insurance and then into other industries.’

Many people have tried to explain Buffett’s success in recent years. One recent Financial Times article titled “How Buffet Did It” notes that his strategy is “more than great stock picks and insurance premiums.”

An older paper called ‘Buffett’s Alpha’ suggests that his exposure to low-risk, cheap and high-quality stocks is key.

“(He) has boosted his returns by using leverage, and that he has stuck to a good strategy for a very long time period, surviving rough periods where others might have been forced into a fire sale or a career shift,” states the paper, which was written by Andrea Frazzini, David Kabiller and Lasse Heje Pedersen.

‘We estimate that Buffett applies a leverage of about 1.7-to-1, boosting both his risk and excess return in that proportion. Thus, his many accomplishments include having the conviction, wherewithal, and skill to operate with leverage and significant risk over a number of decades,’ the authors also note.

Who is Buffett’s successor?

Abel has been with Berkshire since 2000, when Berkshire bought MidAmerican, an energy company he had been running. He joined the board as vice chairman, non-insurance operations, in 2018.

MidAmerican was renamed Berkshire Hathaway Energy (BHE), with Abel serving as its chief executive officer from 2008 to 2018. He remains the company’s chair as of writing. At both MidAmerican and Berkshire, Abel was mentored by David Sokol, who seemed a likely successor to Warren Buffett until he resigned from Berkshire in 2011.

Abel was named vice chairman in 2018 along with Ajit Jain. In a 2014 letter to shareholders, Buffett’s longtime right-hand man, Charlie Munger, who passed away in 2023, wrote about the two as potential successors.

‘Ajit Jain and Greg Abel are proven performers who would probably be under-described as ‘world-class.’ ‘World-leading’ would be the description I would choose,’ said Munger.

‘In some important ways, each is a better business executive than Buffett.’

Buffett has also spoken highly of Abel, saying in 2023, ‘Greg understands capital allocation as well as I do. That’s lucky for us. He will make those decisions, I think, very much in the same framework as I would make them. We have laid out that framework now for 30 years.’

Berkshire’s path forward under Abel

Buffett’s words indicate that he sees Berkshire and Abel following the framework he has laid out.

Of course, there may be some evolution. Morningstar analyst Gregg Warren notes that the ‘groundwork for a successful transition’ at Berkshire has been in place for decades.

He also notes that Buffett and Munger were skilled at acquiring businesses that were a good cultural fit.

“We expect this to continue, believing that Berkshire’s culture of management autonomy and entrepreneurship has become institutionalized,’ Warren explains in a recent article.

‘ However, the new managers will probably work with a slightly different opportunity set, and we believe they will evolve Berkshire from what has historically been a reinvestment machine into one that is more focused on returning capital to shareholders, which is what we would expect of a company of this size with limited investment opportunities.”

Warren also comments that Berkshire currently doesn’t pay a dividend. This principle is because of Buffett’s belief that retained earnings should yield greater value than cash payouts.

Warren said this may change after Abel takes over, underlining that issuing a dividend could help Berkshire retain shareholders who may consider selling once Buffett is no longer at the helm.

Berkshire’s recent activities include diversification of its portfolio via strategic acquisitions and investments.

In January 2025, Forest River Bus & Van, a Berkshire subsidiary, announced its acquisition of L.A. West Coaches to enhance its product portfolio in the luxury transportation market.

“This partnership represents a shared commitment to excellence and innovation,” said Douglas Wright, group general nanager of Forest River Bus & Van. “L.A. West Coaches’ proven expertise and dedication to quality align with our values, and we look forward to collaborating to expand our product range.”

BHE is also currently exploring the production of lithium carbonate and other minerals from its geothermal power plants in California’s Imperial Valley, aligning with the company’s interest in renewable energy and sustainability.

BHE Renewables publicized a joint venture with Occidental Petroleum (NYSE:OXY) in June 2024, saying that this will be useful for the demonstration and deployment of TerraLithium’s direct lithium extraction.

Occidental is the owner of TerraLithium, a company that provides a technology platform for extracting lithium from geothermal and other brines to produce ultra-pure battery-grade lithium hydroxide and lithium carbonate.

Once the demonstration is successful, BHE Renewables plans to build, own and operate commercial lithium production facilities in California’s Imperial Valley. The joint venture also plans to license the technology and develop commercial lithium production facilities outside the Imperial Valley.

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

This post appeared first on investingnews.com

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Business

Cargo thieves are attacking the U.S. supply chain at alarming rates

America’s supply chain is under attack.

From coast to coast, organized criminal groups are hitting trucks on the road, breaking into warehouses and pilfering expensive items from train cars, according to industry experts and law enforcement officials CNBC interviewed during a six-month investigation.

It’s all part of a record surge in cargo theft in which criminal networks in the U.S. and abroad exploit technology intended to improve supply chain efficiency and use it to steal truckloads of valuable products. Armed with doctored invoices, the fraudsters impersonate the staff of legitimate companies in order to divert cargo into the hands of criminals.

The widespread scheme is “low risk and a very high reward,” according to Keith Lewis, vice president of Verisk CargoNet, which tracks theft trends in the industry.

“The return on investment is almost 100%,” he said. “And if there’s no risk of getting caught, why not do it better and do it faster?”

In 2024, Verisk CargoNet recorded 3,798 incidents of cargo theft, representing a 26% increase over 2023.

Total reported losses topped nearly $455 million, according to Verisk CargoNet, but industry experts told CNBC that number is likely lower than the true toll because many cases go unreported. Numerous experts who spoke to CNBC estimate losses are close to $1 billion or more a year.

Train cargo thefts alone shot up about 40% in 2024, with more than 65,000 reported incidents, according to the Association of American Railroads.

Industry experts and law enforcement officials say a more sophisticated and insidious form of cargo theft called strategic theft is also on the rise.

The way the system is supposed to work is this: A shipper pays a broker, and the broker, after taking its fee, pays the carrier, the trucking company that moves the load.

In strategic theft, criminals use deceptive tactics to trick shippers, brokers or carriers into handing cargo or legitimate payments, sometimes both, over to them instead of the legitimate companies.

This post appeared first on NBC NEWS

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