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Best Buy launches third-party marketplace as it looks for sales drivers

Business 4 Mins Read

Best Buy is launching a third-party marketplace, as it tries to bulk up the variety of merchandise it offers and reverse slower sales.

Starting on Tuesday, shoppers who go to Best Buy’s website and app will see products and brands that weren’t available there before, including more tech-related accessories like custom video game controllers and some nontech items including seasonal decor and sports collectibles.

The company’s online marketplace riffs off those of other retailers, such as Amazon and Walmart, by relying on third-party sellers to stock, sell and ship inventory and taking a cut of their sales in the form of a commission.

“Everything we do is really centered around the customer and their technology needs, and we do see customers actually doing a lot of consumer electronics transactions through marketplaces,” Chief Customer, Product and Fulfillment Officer Jason Bonfig said. “And as a result of that, we need to make adjustments to be where the customer’s at.”

He said Best Buy noticed gaps in its assortment that the new platform will help it fill. For instance, Bonfig said the company didn’t carry batteries for some older cameras or cases for older smartphones. And it didn’t offer some items that complement Best Buy purchases, such as furniture that goes around a big-screen TV or cookware to use with a new kitchen appliance.

Along with adding those items, the marketplace makes it possible for smaller vendors with innovative products to sell on Best Buy’s website when they’re not yet big enough to make or distribute the volume needed for its stores, he added.

Best Buy’s marketplace launches at a time when its business could use a boost. Its annual sales have declined over the past three years as the company contends with a sluggish housing market, selective consumer spending and a decline in device replacements after a spike in tech purchases during the Covid pandemic.

The company cut its sales outlook in May and said it expects full-year revenue to range from $41.1 billion to $41.9 billion. That would be similar to Best Buy’s annual revenue of $41.5 billion in the most recent fiscal year, but below the numbers it posted in the years leading up to and during the pandemic.

Best Buy will share its most recent earnings results and sales forecast on Aug. 28.

Tariffs have complicated the backdrop for Best Buy, too, since the higher duties have added costs for consumer electronics vendors and distracted them from other priorities like research and development that leads to new and innovative products, said Jonathan Matuszewski, a retail analyst at Jefferies. He said Best Buy tends to win sales instead of big-box or online competitors when there’s a leap forward in technology.

With the platform’s launch, Best Buy joins other retailers that have jumped on the trend of introducing or expanding third-party marketplaces. Lowe’s and Nordstrom started marketplaces last year. Ulta Beauty plans to launch its own later this year. And Target said it will expand its existing marketplace, Target Plus.

On Best Buy’s earnings call in May, CEO Corie Barry described the third-party marketplace as one of the company’s strategic priorities for the year. She said that new profit stream “is even more important in this environment” and will provide greater flexibility with the range of items and price points.

Plus, she said the marketplace supports the company’s growing advertising business. Sellers can buy ads for their products, including by paying for better placement in search results.

Marketplaces and the advertising opportunities that come with them tend drive higher profits for retailers, said Justin MacFarlane, a managing director for the global retail group of AlixPartners. Sellers buy, stock and ship products instead of the retailer, and take on both the expense of buying inventory and the risk that they may have to mark down unwanted items, he said.

Yet the business model comes with risks, too, he said. For instance, sellers may not have the same standards as a retailer and it could anger a retailer’s customers if they send products in torn boxes, with missing pieces or days later than expected. And he said retailers can flood their websites with so many different categories, brands and products that they overwhelm customers with choices that seem irrelevant to their company’s identity.

“You get addicted to the growth and more is more until it’s not,” he said.

At launch, Best Buy’s marketplace will have about 500 sellers, Bonfig said. He said the company vetted applicants and whittled them down to the ones who can provide a high-quality customer experience. The sellers must match Best Buy’s return policy, he added.

Customers can return purchases either directly to the seller or to Best Buy stores, he said.

This post appeared first on NBC NEWS

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Apple just landed a key win for the global encryption fight

Business 2 Mins Read

Apple clinched a major win Monday after the U.S. government announced that the U.K. had agreed to drop its demand for the company to provide a “back door” granting officials access to users’ encrypted data.

The iPhone maker won’t be alone to rejoice in the outcome.

The development came after extensive talks between Britain and the U.S., which had raised national security concerns over the request.

At the root of the row was end-to-end encryption, a technology which secures communications between two devices in a way that means not even the company providing a chat service can view any messages.

The story of Apple’s U.K. privacy battle started earlier this year, when it was reported that the British government had demanded access to the company’s encrypted cloud service via a technical “back door.”

Such a back door has long been contested by Apple. In 2016, the Federal Bureau of Investigation tried to get Apple to create software that would enable it to unlock an iPhone it recovered from one of the shooters involved in the 2015 terror attack in San Bernardino, California.

Other companies have also had to fend off government attempts to undermine end-to-end encryption. For example, when Meta announced plans to encrypt all messages on its Facebook Messenger app, the move drew condemnation from the U.K. Home Office. Meta had already offered encryption on WhatsApp.

The Monday news could have broader implications for the debate around end-to-end encryption globally.

Governments and law enforcement agencies have long pushed for methods to break such encryption systems to assist with criminal investigations into terrorism and child sexual abuse.

However, tech companies have said that building an encryption back door would not only undermine user privacy, but also expose them to possible cyberattacks. Cybersecurity experts say that any back door built for a government would eventually be found and exploited by hackers.

U.S. national intelligence officials were also worried by the ramifications of Apple offering such a back door.

For Apple, the U.K.‘s concession over encryption could mean that the company can bring back its most secure service for users’ cloud data, Advanced Data Protection (ADP), which the company stopped offering to Brits in February.

It is not yet clear if Apple will reintroduce its ADP service to the U.K. market.

CNBC has reached out to Apple and the U.K. government for comment.

This post appeared first on NBC NEWS

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Top 10 Iron Ore-producing Countries

Investing 10 Mins Read

Iron ore prices have displayed volatility in the past half decade as the world has dealt with the economic uncertainty surrounding COVID-19 lockdowns, the Russia-Ukraine war, ongoing conflicts in the Middle East and rising trade tensions.

Prices for the base metal reached a record high of over US$220 per metric ton (MT) in May 2021, but that level wouldn’t hold for long as lower demand from China alongside rising supply levels caused prices to dropped drastically in late 2021.

Iron ore prices rebounded to trade in the US$120 to US$130 range in 2023, spurred on by supply issues in Australia and Brazil, as well as the Russia-Ukraine war; higher export duties in India and renewed demand from China have also contributed to the commodity’s higher prices.

However, that positive sentiment in the iron ore market evaporated in 2024 as the global economic outlook weakened on higher interest rates, lower demand and challenges in China’s property sector. After starting the year at a high of US$144 per MT, iron ore prices slid to finish out the year at about US$95.

A cyclical rebound in Chinese steel production in Q1 2025 did manage to push prices for the metal back above US$100 again to briefly touch US$107 per MT in February. However, in Q2 2025, China’s economic woes, a growing surplus in iron mine supply and steel and aluminum tariffs were responsible for pressuring iron ore prices back down below US$95 as of late June.

‘Geopolitical tensions have spurred some countries to explore alternative sources of iron ore, raising the profile of new geographic markets,” reports Fastmarket in its June 2025 iron ore market outlook. “The emergence of resource nationalism, where governments exert greater control over mineral resources, is further complicating trade. Policy changes in iron ore-consuming regions, driven by trade tensions and domestic priorities, have led to adjustments in global supply chains.”

To better understand the dynamics of the iron ore market, it’s helpful to know which countries are major producers. With that in mind, these are the top 10 for iron ore production by country in 2024, using the latest data provided by the US Geological Survey. Production data for public companies is sourced from the mining database MDO.

1. Australia

Usable iron ore: 930 million metric tons
Iron content: 580 million metric tons

Australia is the largest iron producing country by far, with usable iron ore production of 930 million metric tons in 2024. Australia’s leading iron ore producer is BHP Group (ASX:BHP,LSE:BHP,NYSE:BHP), and Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) and Fortescue (ASX:FMG,OTCQX:FSUMF) are also large iron producers.

The Pilbara region is the most notable iron ore jurisdiction in Australia, if not the world. In fact, Rio Tinto calls its Pilbara Blend ‘the world’s most recognised brand of iron ore.’ One of the company’s iron producing operations in the region is Hope Downs iron ore complex, a 50/50 joint venture with Gina Rinehart’s Hancock Prospecting. The complex hosts four open-pit mines with an annual production capacity of 47 million metric tons.

In June 2025, the partners announced a combined investment of US$1.6 billion to develop the Hope Downs 2 iron ore project, a part of the main JV. The project hosts the Hope Downs 2 and Bedded Hilltop deposits, which together will have a total annual production capacity of 31 million metric tons.

As for BHP, the major iron miner’s Western Australia Iron Operations joint venture comprise five mining hubs and four processing hubs. One such hub is Area C, which hosts eight open-cut mining areas alone. The company also has an operating 85 percent interest in the Newman iron operations.

2. Brazil

Usable iron ore: 440 million metric tons
Iron content: 280 million metric tons

In Brazil, iron production totaled 440 million metric tons of usable iron ore in 2024.

The largest iron ore districts in the country are the states of Pará and Minas Gerais, which together account for 98 percent of Brazil’s annual iron ore output. Pará is home to the largest iron ore mine in the world, Vale’s (NYSE:VALE) Carajas mine. Headquartered in Rio de Janeiro, Vale is the world’s biggest producer of iron ore pellets.

Vale announced plans in February 2025 to make significant investments in increasing its production at Carajas by 13 percent through 2030.

3. China

Usable iron ore: 270 million metric tons
Iron content: 170 million metric tons

China’s iron production amounted to 270 million metric tons of usable iron ore in 2024. The Asian nation is the world’s largest consumer of iron ore, despite being the third largest iron-producing country.

China’s top producing iron ore mine is the Dataigou iron mine in Laioning province, with production of 9.07 million metric tons in 2023. The underground mine is owned by Glory Harvest Group Holdings.

With China being the world’s largest producer of stainless steel, its domestic supply is not enough to meet demand. The country imports over 75 percent of global seaborne iron ore as of mid-2025.

3. India

Usable iron ore: 270 million metric tons
Iron content: 170 million metric tons

India’s iron production for 2024 totaled 270 million metric tons of usable iron ore, tying for third place with China.

India’s largest iron ore miner, NMDC (NSE:NMDC), operates the Bailadila mining complexes in Chhattisgarh state and the Donimalai and Kumaraswamy mines in Karnataka state. NMDC hit a production milestone in 2021 of 40 million metric tons per year, the first such company to do so in the country. NMDC is targeting an annual production rate of 100 million metric tons by 2030.

5. Russia

Usable iron ore: 91 million metric tons
Iron content: 53 million metric tons

Russia’s iron ore production came in at 91 million metric tons in 2024, making it the fifth largest iron-producing country in the world.

The region of Belgorod Oblast is home to two of the country’s biggest iron ore producing mines: Metalloinvest’s Lebedinsky GOK, which in 2023 produced an estimated 22.05 million metric tons of iron ore; and Novolipetsk Steel’s Stoilensky GOK, which that same year produced an estimated 19.56 million metric tons of iron ore.

In response to serious economic sanctions on the country over its aggressive war against Ukraine, Russia’s iron ore exports fell dramatically in 2022 to 84.2 million metric tons from 96 million metric tons in the previous year. Together, these two countries previously accounted for 36 percent of global iron or non-alloy steel exports. The European Union has restricted imports of Russian iron ore.

Last year, imports of iron ore from Russia to the EU seemingly fell off a cliff, dropping from 332,300 tons to 9,360 tons.

6. Iran

Usable iron ore: 90 million metric tons
Iron content: 59 million metric tons

Iran surpassed 90 million metric tons in iron production in the form of usable iron ore in 2024. The country’s iron output has been on the rise in recent years — now in sixth place, it was the eighth highest iron producer in 2022 and the 10th in 2021.

One of Iran’s most important iron ore mines is Gol-e-Gohar in Kerman province, which is also the country’s top producer. During the March 2024 to January 2025 period, the country’s major mining companies’ combined iron pellet production reportedly increased by 7 percent year-over-year.

The country’s iron mines are supplying its steel industry, which produced 31 million MT of steel in 2024. In its 20 year roadmap released in 2005, the Iranian government set an annual steel production target of 55 million MT by 2025. To better meet the requirements of domestic steel producers, Iran began levying a 25 percent duty on iron ore exports in September 2019. The exact rate has changed multiple times since, and in February 2024 the country cut duties on these products significantly.

7. South Africa

Usable iron ore: 66 million metric tons
Iron content: 42 million metric tons

South Africa’s iron production was 66 million metric tons of usable iron ore in 2024. The country’s output has declined significantly in the past few years, down from 73.1 million MT three years earlier. South Africa’s mining industry is grappling with transport and logistics issues, most notably due to railway maintenance challenges.

Kumba Iron Ore is Africa’s largest iron ore producer. The company has three main iron ore production assets in the country, including its flagship mine, Sishen, which accounts for a large majority of Kumba’s total iron ore output. Anglo American (LSE:AAL,OTC Pink:AAUKF) owns a 69.7 percent share of the company.

8. Canada

Usable iron ore: 54 million metric tons
Iron content: 32 million metric tons

Canada’s iron production totaled 54 million metric tons of usable iron ore in 2024. In June of that year, the Canadian government updated the nation’s Critical Minerals List ‘to include high-purity iron, citing the necessity of that mineral’s role in decarbonization throughout the steel supply chain,’ according to the USGS.

Champion Iron (TSX:CIA) is one company producing iron ore in Canada. It owns and operates the Bloom Lake complex in Québec. Champion Iron ships iron concentrate from the Bloom Lake open pit by rail, initially on the Bloom Lake Railway, to a ship loading port in Sept-Îles, Québec. A Phase 2 expansion, which entered commercial production in December 2022, increased annual capacity from 7.4 million metric tons to 15 million metric tons of 66.2 percent iron ore concentrate.

As of 2025, Champion is investing in upgrading half of its Bloom Lake mine capacity to a direct reduction quality pellet feed iron ore with up to 69 percent iron.

9. Ukraine

Usable iron ore: 42 million metric tons
Iron content: 26 million metric tons

Ukraine’s iron production for 2024 was 42 million metric tons of usable iron ore. The metal represents a key segment of the country’s economy. Metinvest and ArcelorMittal (NYSE:MT) are the leading producers of iron ore in the nation.

Despite the ongoing war, Ukraine’s iron ore mining industry has proved as resilient as the people, even though there have been temporary shutdowns. However, 2025 looks to be turning into a particularly hard year. In the January through April period, iron ore exports decreased by 20.9 percent in value terms and by 10.2 percent in physical volumes year-over-year. GMK Center predicted in May that by the end of this year, ‘Ukraine’s iron ore exports will decline by about 20% y/y to 27 million tons from 33.6 million tons in 2024.’

10. Kazakhstan

Usable iron ore: 30 million metric tons
Iron content: 9.2 million metric tons

Kazakhstan’s iron production came in at 30 million metric tons of usable iron ore in 2024.

Kazakhstan has several iron ore mines in operation, with four of the top five owned by Eurasian Resources Group. The largest of these iron ore mines is the Sokolovsky surface and underground mine located in Kostanay. In 2023, it produced an estimated 7.52 million tonnes per annum of iron ore.

The Sokolov-Sarybai Mining Production Association (SMPA) in Northern Kazakhstan was the main supplier of iron ore to Russia’s Magnitogorsk Iron and Steelworks prior to the country’s invasion of Ukraine. Since then, the SMPA has halted iron ore shipments to Magnitogorsk.

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

This post appeared first on investingnews.com

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Questcorp Mining Completes 25 Percent of Maiden Drilling Program at the La Union Gold & Silver Project in Mexico

Investing 8 Mins Read

Questcorp Mining Inc. (CSE: QQQ,OTC:QQCMF) (OTCQB: QQCMF) (FSE: D910) (the ‘Company’ or ‘Questcorp’) is pleased to announce they have completed 25% of the planned drilling program on its La Union Project in northwest Sonora, Mexico. This work is being carried out by property vendor and operator Riverside Resources Inc. (TSXV: RRI).

Highlights

  • The Company has completed 300 metres of the planned drill program of 1200 to 1500m.
  • Drilling to test the carbonate-hosted replacement deposit (CRD) style of mineralization, with gold associated with mantos, chimneys, and along structural zones.
  • Angled drill holes are aimed at cutting perpendicular to stratigraphic targets and some structural targets which is typical in CRD systems
  • Structural features may have served as mineralizing conduits and are key targets in the current drill program.

Questcorp is capitalizing on the recent exploration work over the past three months by Riverside that improved the understanding of the structural geology and stratigraphy that is guiding current exploration efforts at La Union. The exploration target focus is for a large potential gold discovery that expands from previous smaller scale mine operations on the property. The drill program will begin to test the new concepts and expand past previous mining.

Saf Dhillon, President & CEO states, ‘Questcorp is pleased with the progress being made at this first ever drill program at La Union. The Riverside team has been able to work throughout these hot summers months to enable the successful completion of this Maiden drill.

Earlier this year, Questcorp entered into a definitive option agreement with Riverside’s wholly owned subsidiary, RRM Exploracion, S.A.P.I. DE C.V. to acquire a 100% interest in the La Union Project. As part of the agreement, Questcorp issued shares to Riverside, making Riverside a shareholder and aligning both parties’ interests in the Project’s success. With funding provided by Questcorp, an initial C$1,000,000 exploration program is now underway. This marks the first phase of a larger, C$5,500,000 work commitment, contingent on exploration results and Questcorp’s continued participation.

The Drill Program Targets include more than four different areas, beginning with this early-stage stratigraphic and orientation phase of drilling exploration aimed at evaluating the scale of alteration and indications of a mineralized system. This will be the first drilling ever conducted on most of the targets, despite past mining having occurred in the majority of these areas. The initial program will consist of one to three holes per area, primarily for orientation purposes. Follow-up drilling is planned and can be expanded based on initial results, which will help verify the stratigraphy, lithologies, and structural features allowing for improved modeling and next-stage discovery targeting. The four areas are listed below:

  • Union Main Mine Area – The program will use angled drill holes to test limestone and other carbonate stratigraphic hosts within the Clemente Formation, with the potential to reach the underlying Caborca Formation. These units are considered the primary hosts for replacement-style mineralization.
  • North Union Mine Area – The initial focus of the program will be on testing structural interpretations. Additional drilling is anticipated following this first phase, as results will help guide future drill testing of areas with past mining activity and various structural orientations.
  • Cobre Mine Area – The Clemente Formation is the primary host unit, and structural features combined with areas of past mining provide multiple target zones. Drilling will begin with an initial stratigraphic test hole to help orient around the thickness of the host unit and extend into the lower Caborca Formation, which is also a favorable host for CRD-style mineralization.
  • Central Union Area – Structural targets, as possible mineralization feeder zones, are a key focus in this past mining manto area. There are extensive additional target zones in the area, and this initial orientation drilling will provide vectoring for the next stage of drilling and further study of the Clemente Formation, and possibly into the Caborca Formation as currently interpreted.

General Overview of La Union Project

The Project is summarized in a recently published NI 43-101 Technical Report available under Questcorp’s SEDAR+ profile (www.sedarplus.ca). Riverside initially acquired the Project and subsequently consolidated additional inlier mineral claims, building a strong land position. Riverside then advanced the Project through surface access agreements and drill permitting, making it a turn-key exploration opportunity for Questcorp.

The Project was originally identified through Riverside’s exploration work in the western Sonora Gold Belt, conducted in collaboration with AngloGold Ashanti Limited, Centerra Gold Inc., and Hochschild Mining Plc. Earlier research by Riverside Founder John-Mark Staude also contributed to recognizing the district’s potential. Initial work by members of the Riverside team, drawing on more than two decades of geological compilation and analysis, further confirmed the region as highly prospective.

At the Project, historical mining by the Penoles Mining Company targeted chimney and manto-style replacement bodies within the upper oxide zones. As a result, the underlying sulfide zones represent immediate and compelling drill targets for further exploration.

At the La Union Project, immediate drill targets offer the potential for significant-scale discoveries. La Union is well positioned for near-term exploration success, with targets that include both oxide and deeper sulfide mineralization.

The La Union Project

The La Union Project is a carbonate replacement deposit (‘CRD’) project hosted by Neoproterozoic sedimentary rocks (limestones, dolomites, and siliciclastic sediments) overlying crystalline Paleoproterozoic rocks of the Caborca Terrane. The structural setting features high-angle normal faults and low-to-medium-angle thrust faults that sometimes served as mineralization conduits. Mineralization occurs as polymetallic veins, replacement zones (mantos, chimneys), and shear zones with high-grade metal content, as shown in highlight grades of 59.4 grams per metric tonne (g/t) gold, 833 g/t silver, 11% zinc, 5.5% lead, 2.2% copper, along with significant hematite and manganese oxides, consistent with a CRD model (see the technical report entitled ‘NI 43-101 Technical Report on the Union Project, State of Sonora, Mexico’ dated effective May 6, 2025 available under Questcorp’s SEDAR+ profile). These targets also demonstrate intriguing potential for large gold discoveries potentially above an even larger porphyry Cu district potential as the Company’s target concept at this time.

Questcorp cautions investors that grab samples are selective by nature and not necessarily indicative of similar mineralization on the property.

The technical and scientific information in this news release has been reviewed and approved by R. Tim Henneberry, P. Geo (BC), a director of the Company and a ‘qualified person’ under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Questcorp Mining Inc.

Questcorp Mining Inc. is engaged in the business of the acquisition and exploration of mineral properties in North America, with the objective of locating and developing economic precious and base metals properties of merit. The Company holds an option to acquire an undivided 100% interest in and to mineral claims totaling 1,168.09 hectares comprising the North Island Copper Property, on Vancouver Island, British Columbia, subject to a royalty obligation. The Company also holds an option to acquire an undivided 100% interest in and to mineral claims totaling 2,520.2 hectares comprising the La Union Project located in Sonora, Mexico, subject to a royalty obligation.

Contact Information

Questcorp Mining Corp.

Saf Dhillon, President & CEO

Email: saf@questcorpmining.ca
Telephone: (604) 484-3031

This news release includes certain ‘forward-looking statements’ under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to Riverside’s arrangements with geophysical contractors to undertake orientation surveys and follow up detailed survey to confirm and enhance the drill targets. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include but are not limited to: the ability of Riverside to secure geophysical contractors to undertake orientation surveys and follow up detailed survey to confirm and enhance the drill targets as contemplated or at all, general business, economic, competitive, political and social uncertainties, uncertain capital markets; and delay or failure to receive board or regulatory approvals. There can be no assurance that the geophysical surveys will be completed as contemplated or at all and that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/262984

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

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Graphite Market Update: H1 2025 in Review

Investing 7 Mins Read

Oversupply and trade concerns were the most impactful factors in the graphite market through the first half of 2025.

China’s control of much of the market also came into focus as the US launched an investigation into the security of numerous supply chains including anodes which are key end use for graphite.

Heading into 2025, the graphite market was expected to see continued divergence between China and ex-China regions. The split was further hampered by a glut in the market.

As such prices for graphite fell by 10-20 percent in 2024, as noted in an International Energy Agency report.

Analysts anticipated domestic Chinese prices to remain low, while US and European benchmarks were forecasted to climb as supply shifts away from China create tighter markets.

While excess inventory and high supply levels were forecasted to keep prices under pressure in the first half of 2025, analysts aren’t ruling out a moderate recovery in the second half as inventories normalize, though competition from synthetic graphite could limit gains.

Graphite prices hit multi-year lows

Caught in the cross hairs of tariff troubles between US and China, graphite prices fell to their lowest levels since 2018, according to Fastmarkets.

In January, The US Department of Commerce officially launched anti-dumping (AD) and countervailing duty (CVD) investigations into imports of active anode material from China, following petitions filed by the American Active Anode Material Producers (AAMP) in mid-December 2024.

These probes stem from concerns that Chinese producers are unfairly undercutting domestic manufacturers through subsidized or dumped pricing.

“The new antidumping and countervailing duty investigation on active anode imports from China demonstrates that the anode production is the most challenging part of the battery supply chain for the US to compete with China,” wrote Fastmarkets Georgi Georgiev in a February report.

He added: “The existing 25 percent tariff has had limited impact on anode imports from China, demonstrating that currently Chinese anode makers remain the cornerstone of global anode supply chains.”

In May, the Department of Commerce issued an affirmative preliminary finding in its countervailing duty probe, identifying subsidy rates as high as 721 percent for some producers, while others faced rates near 6.55 percent.

In the related anti-dumping investigation, a July 17 preliminary determination confirmed dumping, and a provisional 93.5 percent duty was imposed.

If both Commerce and the US International Trade Commission deliver final affirmative decisions, steep duties could be imposed as soon as fall 2025 and remain in place for at least five years.

Supply and demand woes intensify

Despite natural graphite mined supply growing year over year from 2020’s 966,000 metric tons to 1,600,000 metric tons in 2024, concerns abound about future supply.

“Rare earth elements appear to be sufficiently supplied in 2035 based on the project pipeline. However, supply concentration for rare earths and graphite remains a key vulnerability,” a recent IEA report read.

The energy oversight agency expects graphite demand to double between now and 2040, driven by an uptick in eclectic vehicle demand.

To ensure ample supply is available, the IEA recommends broad growth outside of China up and down the supply chain.

“Diversification is the watchword for energy security, but the critical minerals world has moved in the opposite direction in recent years, particularly in refining and processing. Between 2020 and 2024, growth in refined material production was heavily concentrated among the leading suppliers,” it read.

Refining capacity for critical minerals has become increasingly concentrated, with graphite among the most affected. By 2024, the top three refining nations controlled an average of 86 percent of global output for key energy minerals, up from about 82 percent in 2020.

In graphite’s case, China dominates the sector, accounting for nearly all recent supply growth, a trend mirrored by Indonesia in nickel and China again in cobalt and rare earths.Despite China’s stronghold of the market, the IEA sees that weakening over the next decade.

“There is some diversification emerging in the mining of lithium, graphite and rare earth elements. The share of mined lithium supply from the top three producers is set to fall below 70 percent by 2035, down from over 75 percent in 2024,” the IEA states. “ Graphite and rare earth elements also see some improvement as new mining suppliers emerge over the next decade – Madagascar and Mozambique for graphite and Australia for rare earths.”

While mine supply diversification is a positive first step, growth in refinement and processing capacity is unlikely to see the same ex-China growth trends.

The IEA expects refining capacity for critical minerals to remain heavily concentrated well into the next decade, with graphite among the most tightly controlled.

Although some diversification is emerging for lithium and select minerals, China’s dominance shows little sign of waning. By 2035, the country is projected to supply roughly 80 percent of the world’s battery-grade graphite, alongside similar market shares in rare earths, and more than 60 percent of refined lithium and cobalt.

Tariff battle shakes anode supply chain

To counter China’s control the US is moving aggressively to curb reliance on Chinese graphite anodes, which account for more than 95 percent of global anode output.

Since June 2024, tariffs on Chinese synthetic graphite anodes have risen from zero to 160 percent — including the existing 25 percent Section 301 tariff and additional levies. North American producers have petitioned for duties as high as 920 percent.

Chinese producers initially absorbed much of the cost of early tariffs, but analysts expect they will pass more of the recent increases on to buyers.

US automakers and battery makers are bracing for higher costs, with trade data showing that all US graphite anode imports for the EV sector came from China in 2024.

China has responded with its own 84 percent import tariff on US petroleum coke and needle coke. While China has reduced reliance on US supply, it still sources about 30 percent of each from American producers, meaning higher costs for Chinese synthetic graphite and downstream anode products.

“US electric vehicle and battery producers have battled in recent years to keep US imports of graphite anodes from China tariff-free, but their efforts have proved futile over the past nine months and the trade status of graphite anodes has shifted dramatically,” Amy Bennett, principal consultant of metals and mining at Fastmarkets wrote in a May market report.

Fragility of supply

Global demand for battery-grade graphite is projected to surge by 600 percent over the next decade as the energy transition and electric vehicle (EV) adoption accelerate.

Yet, at today’s depressed prices, developing new supply outside China remains economically unviable — a challenge that’s fueling a looming supply crunch.

The US, which mines no natural graphite, was entirely dependent on imports to meet domestic demand in 2024, according to the US Geological Survey, leaving it and other non-China markets in a vulnerable position.

History offers a cautionary precedent: in 2010, rare earth prices spiked tenfold after China restricted exports.

Should a similar disruption hit lithium, nickel or graphite, prices could surge five to ten times, pushing average global battery pack costs up by 20 to 50 percent, the IEA warns.

Such a jump would erode EV affordability, slow adoption and threaten the pace of the clean energy transition.

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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Kobo Resources: Unlocking West Africa’s Untapped Gold Potential

Investing 2 Mins Read

Focused on unlocking West Africa’s untapped mineral potential, Kobo Resources (TSXV:KRI) is advancing its flagship Kossou Gold Project in Côte d’Ivoire. Strategically located next to Perseus Mining’s (TSX:PRU) producing Yaouré Gold Mine, Kossou benefits from access to infrastructure, skilled local labor, and strong logistical advantages.

Kobo’s value proposition rests on a seasoned leadership team and backing from strategic partner Luso Global Mining, part of engineering giant Mota-Engil. Beyond capital, this partnership provides access to world-class mining expertise. With a phased exploration strategy, Kobo is advancing near-term catalysts—including updated technical reports, metallurgical studies, and a 2025 drill campaign aimed at delivering a maiden resource in 2026.

Aerial view of the Kossou gold project in proximity to nearby infrastructure and operators

The Kossou Gold Project (KGP) is Kobo Resources’ flagship asset in Côte d’Ivoire, located 40 km from Yamoussoukro and adjacent to Perseus Mining’s producing Yaouré Gold Mine. Covering 110 sq. km within the prolific Birimian greenstone belt, Kossou benefits from excellent infrastructure, logistical advantages, and strong exploration potential in one of West Africa’s fastest-growing mining jurisdictions.

Company Highlights

  • Mining-friendly and Underexplored Location – Côte d’Ivoire’s gold production has grown significantly but still trails neighboring countries.
  • Prime Location with Infrastructure Advantage – The Kossou Gold Project (KGP) is 40 km from Yamoussoukro and 9.5 km from a major operating gold mine.
  • Proven Gold Discoveries with Strike Continuity – 24,471 m drilled at KGP with multiple mineralized zones that remain open along strike and depth.
  • Promising Secondary Project – Kotobi gold project offers early-stage exploration upside in a highly prospective greenstone belt.
  • Aggressive Growth and Near-term Milestones – +/- 20,000 m 2025 drill program targeting priority zones and advancing toward a potential MRE in 2026 with a strong project pipeline.
  • Strong Team and Strategic Backing – Decades of exploration success combined with a strategic partnership with Luso Global Mining (Mota-Engil).

This Kobo Resources profile is part of a paid investor education campaign.*

Click here to connect with Kobo Resources (TSXV:KRI) to receive an Investor Presentation

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Politics

Trump moves to broker Putin-Zelenskyy meeting following DC peace talks

Politics 3 Mins Read

President Donald Trump said he spoke with Russian President Vladimir Putin Monday, after meeting with Ukrainian President Volodymyr Zelenskyy and European leaders at the White House, to begin coordinating next steps in the peace process aimed at ending the war in Ukraine. 

The president posted on his Truth Social platform Monday evening saying that he had called Putin at the conclusion of a day of meetings to begin ‘the arrangements for a meeting’ between the Russian president and his Ukrainian counterpart. Trump’s call to Putin mirrored his decision to call Zelenskyy following Friday’s Alaska summit with Putin. 

‘At the conclusion of the meetings, I called President Putin, and began the arrangements for a meeting, at a location to be determined, between President Putin and President Zelenskyy,’ Trump confirmed, following media reports hinting at the call.

The president added that after the meeting between the two warring presidents, there would be a trilateral meeting with the United States as well. 

‘After that meeting takes place, we will have a Trilat, which would be the two Presidents, plus myself,’ the president continued. ‘Again, this was a very good, early step for a War that has been going on for almost four years.’

Yury Ushakov, a top aide to Russian President Vladimir Putin, said Trump and Putin were on the phone for about 40 minutes and held a ‘candid and very constructive’ dialogue, according to CNN.

Putin ‘expressed support for direct negotiations between the delegations of Russia and Ukraine,’ Ushakov reportedly added.

Officials familiar with Monday’s talks also reportedly said Trump’s call to Putin came in-between talks with the European leaders present at the White House. Meanwhile, one of those leaders, German Chancellor Friedrich Merz, reportedly said Putin agreed in the call with Trump to meet Zelenskyy in two weeks. 

Earlier in the day, Trump was caught in a hot-mic moment telling French President Emmanuel Macron that Putin wants to find a resolution to bring the war in Ukraine to an end for him.

‘I think [Putin] wants to make a deal,’ Trump whispered to Macron in the East Room as they were preparing for Monday’s talks. ‘I think he wants to make a deal for me, you understand that? As crazy as it sounds.’

Following Monday’s talks, Zelenskyy thanked Trump and all the other leaders present in D.C. for their work in trying to bring peace to his country, noting that the talks were ‘long and detailed.’  

‘Today, important negotiations took place in Washington. We discussed many issues with President Trump. It was a long and detailed conversation, including discussions about the situation on the battlefield and our steps to bring peace closer,’ Zelenskyy said in a post on X Monday night.

‘We appreciate the important signal from the United States regarding its readiness to support and be part of these guarantees. A lot of attention today was given to the return of our children, to the release of prisoners of war and civilians held by Russia. We agreed to work on this,’ Zelenskyy continued. ‘The U.S. President also supported a meeting at the level of leaders. Such a meeting is necessary to resolve sensitive issues.’ 

Fox News Digital reached out to the White House for comment on this but did not receive a response.

This post appeared first on FOX NEWS

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Politics

5 key moments inside Trump’s ‘big day’ with Zelenskyy, European leaders

Politics 7 Mins Read

After meeting with Russian President Vladimir Putin in Alaska last week, President Donald Trump touted that he had a ‘very good meeting’ with Ukrainian President Volodymyr Zelenskyy and other European leaders at the White House on Monday.

Trump, who has voiced he would like to put an end to mass bloodshed in Eastern Europe, called the multilateral meetings on Monday ‘a very good, early step for a War that has been going on for almost four years.’

In a Truth Social post after the discussions, Trump wrote, ‘I had a very good meeting with distinguished guests,’ and that ‘everyone is very happy about the possibility of PEACE for Russia/Ukraine.’

Here are the top five takeaways from the president’s ‘big day’ with European leaders.

1. Smiles all around

Monday’s summit marked a dramatic and noticeable shift from Trump and Vice President JD Vance’s now-infamous Oval Office meeting with Zelenskyy in February.

During that meeting, the leaders were caught on camera getting into a heated argument over several topics, including Zelenskyy allegedly not being sufficiently grateful for U.S. support.

On Monday, all the tension seemed to have disappeared. Both Trump and Zelenskyy were all smiles throughout the day, and the Ukrainian leader received a warm welcome from Trump’s Cabinet, including Vance, Secretary of State Marco Rubio and Defense Secretary Pete Hegseth.

Both Zelenskyy and European leaders appeared more at ease with Trump throughout the day and took an optimistic tone. After the meetings, European Union President Ursula von der Leyen posted on X, ‘We are here, as allies and friends, for peace in Ukraine and in Europe. This is an important moment, as we continue to work on strong security guarantees for Ukraine and a lasting and durable peace.’

2. Wardrobe upgrade

Another marked shift from February was Zelenskyy breaking from his trademark jumpsuit attire to wear a suit, something he even joked with the press about while sitting in the Oval Office with Trump.

Zelenskyy, who has been criticized for wearing casual attire to meetings with world leaders, wore all-black attire, including a button-down shirt and jacket. 

‘First of all… President Zelenskyy, you look fabulous in that suit,’ a reporter told Zelenskyy after he sat down with Trump in the Oval Office. 

‘You look good,’ the reporter said before Trump added, ‘I said the same thing.’ 

At another point during the Zelenskyy-Trump bilateral press meeting, the Ukrainian president ribbed a reporter for wearing the same suit he had in February.

‘You’re in the same suit. You see, I changed, you’re not,’ Zelenskyy quipped as both he and Trump burst into laughter.

3. Ceasefire not needed

On a more substantive note, Trump doubled down on his position that a ceasefire is ‘not needed’ to broker a permanent peace between Ukraine and Russia. He cited his recent successes in negotiating peace agreements between other countries across the globe.

‘I don’t think you need ceasefire. You know, if you look at the six deals that I settled this year, they were all at war,’ Trump said during his press conference with Zelenskyy.

‘I didn’t do any ceasefires,’ he went on, adding, ‘And I know that it might be good to have, but I can also understand strategically why, you know, one country or the other wouldn’t want it.’ 

In a rare tense moment during the day, Trump clashed with German Chancellor Friedrich Merz over the need for a ceasefire.

Speaking with Trump and other leaders gathered around a large conference table in the White House, Merz said, ‘To be honest, we all would like to see a ceasefire at the latest from the next meeting on,’ adding, ‘I can’t imagine that the next meeting would take place without a ceasefire. So, let’s work on that.’

He urged the leaders, ‘Let’s try to put pressure on Russia, because the credibility of this effort, these efforts we are undertaking today are depending on, at least, a ceasefire from the beginning of the serious negotiations from the next step on. So, I would like to emphasize this aspect and would like to see a ceasefire from the next meeting, which should be a trilateral meeting wherever it takes place.’

In response, Trump shot back that he is determined ‘to go directly to a peace agreement’ without a ceasefire, saying, ‘Well, we’re going to let the president [Zelenskyy] go over and talk to the president [Putin], and we’ll see how that works out.’

4. United European front

In addition to Zelenskyy, seven major European leaders were present at the White House on Monday, a rare occurrence signaling a united European front and something Trump called an ‘honor’ for the U.S.

This follows Zelenskyy doubling down on Sunday that Ukraine will not agree to cede Crimea or any of its territory to Russia as part of a peace deal.  

‘Since the territorial issue is so important, it should be discussed only by the leaders of Ukraine and Russia at the trilateral [talks with] Ukraine, United States, Russia,’ Zelenskyy said.

Trump said that though the U.S. would be involved with providing Ukraine with security guarantees after the war’s end, he said going forward, Europe must take much of that ‘burden.’

‘I think that the European nations are going to take a lot of the burden,’ Trump said. ‘We’re going to help them, and we’re going to make it very secure. We also need to discuss the possible exchanges of territory, taking into consideration the current line of contact. That means the war zone, the war line center. Pretty obvious. Very sad, actually, to look at them and negotiating positions.’

Meanwhile, French President Emmanuel Macron said Europe is aware that it will shoulder much of the weight of responsibility tied to various security guarantees — and acknowledged it is necessary in order to preserve each respective country’s safety. 

‘In order to have such a long-standing peace for Ukraine and for the whole continent, we do need the security guarantees,’ Macron said. ‘And the first one is clearly a credible Ukrainian army. For the years and decades to come. And the second one is our own commitments. All of us… You can be sure that the Europeans are very lucid about the fact that they have their fair share in the security guarantees for Ukraine, but their own security is clearly at stake in this situation.’

5. Putin on the line

Trump shared that he called Putin after the meetings and that there is already movement on the next step, that is, scheduling a meeting between Zelenskyy and the Russian president. After that meeting, Trump said there would then be a trilateral meeting between Zelenskyy, Putin and himself.

‘At the conclusion of the meetings, I called President Putin, and began the arrangements for a meeting, at a location to be determined, between President Putin and President Zelenskyy. After that meeting takes place, we will have a Trilat, which would be the two Presidents, plus myself,’ wrote Trump.

In another post, Trump called the summit ‘a big day at the White House.’

‘We have never had so many European Leaders here at one time. A great honor for America!!!’ he wrote. ‘Lets see what the results will be???’ 

Fox News Digital’s Diana Stancy, Emma Colton and Amanda Macias contributed to this report.

This post appeared first on FOX NEWS

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Trump calls White House talks ‘very good, early step’ toward Russia-Ukraine peace: Here’s what’s next

Politics 4 Mins Read

President Donald Trump described his White House negotiations with Ukrainian President Volodymyr Zelenskyy and European leaders as ‘a very good, early step’ toward ending the nearly four-year-old Russia-Ukraine war, announcing that he has already spoken with Russian President Vladimir Putin about arranging a direct meeting with Zelenskyy.

Trump said the group of world leaders held discussions on security guarantees for Ukraine, with commitments coming primarily from European nations ‘in coordination with the United States’ in a statement on Truth Social after the meetings.

‘Everyone is very happy about the possibility of PEACE for Russia/Ukraine,’ Trump said, adding that Vice President JD Vance, Secretary of State Marco Rubio, and special envoy Steve Witkoff are now leading follow-up talks with Moscow and Kyiv.

Zelenskyy signaled he too was ready to meet directly with Putin. 

A Kremlin readout of the Trump-Putin call confirmed the pair ‘discussed the idea of raising the level of direct Russian-Ukrainian negotiations,’ but did not say whether Putin had agreed. 

Trump outlines next steps

Trump revealed that following the Oval Office meetings he phoned Putin to begin making ‘arrangements for a meeting, at a location to be determined, between President Putin and President Zelenskyy.’ If that takes place, he said, the next stage would be a ‘Trilat’ — a trilateral meeting involving himself, Putin, and Zelenskyy.

Zelenskyy said he would be open to a meeting with Trump and Putin or a meeting with just Putin next. 

‘We confirmed that we are ready for a trilateral meeting,’ the Ukrainian president told reporters after the meeting. ‘And if Russia proposed to the President of the United States bilateral, and then we will see the result of the bilateral, then it can be trilateral. So I said, always, Ukraine will never stop on the way to peace, and we are ready for any kind of format but on the level of leaders.’

While Trump has previously cast himself as a mediator rather than a dealmaker, the suggestion that Putin is open to meeting face-to-face with Zelenskyy marked the biggest breakthrough in peace negotiations yet. ‘Again, this was a very good, early step for a war that has been going on for almost four years,’ he said.

Security guarantees under discussion

The idea of ‘security guarantees’ has long been central to Ukraine’s demands. According to Trump, these would be provided primarily by European states, coordinated with Washington. Ahead of the meetings, Trump had not ruled out U.S. military involvement in the guarantees, but he has since stressed that Europe will bear the primary burden of defending Ukraine.

Trump also reiterated his view that U.S. support should come through arms sales rather than aid packages. ‘We’re not giving anything. We’re selling weapons,’ he said earlier this week. Ukraine has reportedly floated a proposal to buy as much as $100 billion in U.S.-made weapons with European financing, according to the Financial Times. 

Land swaps may be on the table 

During the meeting, Trump and Zelenskyy were pictured viewing a map outlining the front lines of the war and the Ukrainian territory currently occupied by Russia, about 20% of the country. Trump may have used the map to discuss with Zelenskyy which regions he could realistically part with in order to obtain peace. 

According to a source familiar with Zelenskyy’s visit planning, clarity on U.S. and European security guarantees could help the Ukrainian leader make the case domestically for any territorial concessions — a likely core element of talks with Russia. The question of which areas Ukraine could ‘let go’ and which it must retain remains deeply sensitive in Kyiv, where public opinion has hardened after years of fighting and heavy civilian losses.

Russia’s categorical rejection

Moscow strongly opposed the concept of NATO-style guarantees. The Russian foreign ministry released a statement during the White House talks warning that any arrangement involving NATO countries could trigger ‘uncontrolled escalation’ with ‘unpredictable consequences,’ according to state media outlet RIA. That categorical rejection underscores the difficulty of bridging the gap between Ukraine’s security needs and Russia’s demands.

European leaders weigh in

German Chancellor Merz stressed that no meaningful talks could occur without at least a temporary ceasefire.

‘I can’t imagine that the next meeting would take place without a ceasefire,’ Merz said. ‘So let’s work on that and put pressure on Russia, because the credibility of these efforts depends on at least a ceasefire.’

Fox News’ Jacqui Heinrich contributed to this report. 

This post appeared first on FOX NEWS

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