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

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

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

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

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

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

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

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

Copper production: 1.46 million metric tons

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

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

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

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

2. Codelco

Copper production: 1.44 million metric tons

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

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

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

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

3. Freeport-McMoRan (NYSE:FCX)

Copper production: 1.26 million metric tons

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

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

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

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

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

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

Copper production: 951,600 metric tons

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

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

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

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

5. Southern Copper (NYSE:SCCO)

Copper production: 883,462 metric tons

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

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

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

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

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

Copper production: 772,700 metric tons

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

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

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

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

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

Copper production: 729,700 metric tons

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

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

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

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

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

Copper production: ~502,600 metric tons

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

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

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

9. Antofagasta (LSE:ANTO)

Copper production: 448,800 metric tons

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

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

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

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

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

Copper production: 358,910 metric tons

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

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

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

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

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

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

This post appeared first on investingnews.com

(TheNewswire)

TORONTO, ON TheNewswire – June 25, 2025 –Silver Crown Royalties Inc. (‘Silver Crown’, ‘SCRi’, the ‘Corporation’, or the ‘Company’) (Cboe:SCRI; OTCQX:SLCRF; FRA:QS0) reports that all resolutions proposed to shareholders at the annual general meeting of shareholders (held on June 24, 2025) were approved, including the election of all of the director nominees listed in the management information circular for the meeting. Please refer to the report of voting results filed under SCRi’s profile at www.sedarplus.ca for further details.

Voting as to each of the director nominees was as follows:

DIRECTORS

VOTES FOR

VOTES WITHHELD

Peter Bures

201,149

100%

0

0%

Peter Schloo

201,149

100%

0

0%

Peter Simeon

201,149

100%

0

0%

Philip van den Berg

201,149

100%

0

0%

ABOUT Silver Crown Royalties INC.

Founded by industry veterans, Silver Crown Royalties ( Cboe: SCRI | OTCQX: SLCRF | BF: QS0 ) is a publicly traded, silver royalty company. Silver Crown (SCRi) currently has four silver royalties of which three are revenue-generating. Its business model presents investors with precious metals exposure that allows for a natural hedge against currency devaluation while minimizing the negative impact of cost inflation associated with production. SCRi endeavors to minimize the economic impact on mining projects while maximizing returns for shareholders. For further information, please contact:

Silver Crown Royalties Inc.

Peter Bures, Chairman and CEO

Telephone: (416) 481-1744

Email: pbures@silvercrownroyalties.com

FORWARD-LOOKING STATEMENTS

This release contains certain ‘forward looking statements’ and certain ‘forward-looking information’ as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as ‘may’, ‘will’, ‘should’, ‘expect’, ‘intend’, ‘estimate’, ‘anticipate’, ‘believe’, ‘continue’, ‘plans’ or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which SCRi will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; SCRi’s ability to enter into definitive agreements and close proposed royalty transactions; the inherent uncertainties related to the valuations ascribed by SCRi to its royalty interests; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects SCRi; stock market volatility; regulatory restrictions; liability, competition, the potential impact of epidemics, pandemics or other public health crises on SCRi’s business, operations and financial condition, loss of key employees. SCRi has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance 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 are advised not to place undue reliance on forward-looking statements or information. SCRi undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available.

This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

CBOE CANADA DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Copyright (c) 2025 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

This post appeared first on FOX NEWS

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

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

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

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

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

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

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

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

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

Trump has claimed a ‘very successful’ mission.

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

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

Fox News’ Greg Norman contributed to this report.

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Emil Bove will appear Wednesday before the Senate, where he is expected to face tough questions during a hearing about his controversial entrance into Justice Department leadership and former role as President Donald Trump’s personal lawyer.

Trump nominated Bove, who fiercely defended the president during his criminal prosecutions, to serve in a lifetime role as a judge on the Pennsylvania-based Third Circuit Court of Appeals.

Trump said Bove would ‘restore the Rule of Law,’ a remark that came as sitting judges have drawn Trump’s ire for handing down dozens of orders blocking parts of his agenda.

Deputy Attorney General Todd Blanche, who has worked closely with Bove for years, told Fox News Digital in a phone interview ahead of the Senate Judiciary Committee hearing that Bove was a ‘freaking brilliant lawyer’ and that his nomination to the appellate court was a ‘no-brainer.’

Blanche described his colleague as the ‘most gentle, empathetic, great person that anybody could ever work with,’ a characterization sharply at odds with some who have been in Bove’s crosshairs.

In his early years, Bove was a high-achieving student, a division one athlete on his college lacrosse team and a Georgetown University law school graduate.

He went on to clerk for two federal judges and worked for about a decade as federal prosecutor in the Southern District of New York, where he led high-profile terrorism and drug trafficking cases through 2019.

Blanche brought Bove into his private practice, where they tag-teamed Trump’s prosecutions, including by appearing by the president’s side during his six-week hush money trial in Manhattan last year. At the end of it, Trump was convicted by a jury of 34 counts of falsifying business records, marking the lone case out of Trump’s four to lead to a conviction.

Blanche said that behind the scenes, Bove was critical to their defense work and wrote the vast majority of their legal briefs.

In letters to the Senate, a group of Republican state attorneys general said Bove was courageous for representing Trump ‘when few other attorneys would step up.’ Attorney Gene Schaerr called Bove’s brief writing ‘superb.’ One of Bove’s past law firms said he was ’eminently qualified.’

Nearly three dozen retired law enforcement officials praised Bove as a ‘trusted and respected partner,’ saying he had a profound understanding of the Drug Enforcement Administration and was responsible for breaking apart transnational criminal networks.

‘His efforts have directly contributed to high-impact cases that have saved lives and protected vulnerable populations,’ the retired officials wrote. Others heaped similar praise.

The rosy picture that Blanche and Bove’s supporters paint is drastically different from the one presented by a handful of DOJ officials who left the department because of Bove and defense lawyers who observed him in action during his time as a New York prosecutor.

While Bove was serving as acting deputy attorney general ahead of Blanche’s confirmation in March, two top lawyers in the Manhattan U.S. attorney’s office and five officials in the DOJ’s Public Integrity Section chose to abruptly leave their jobs instead of complying with Bove’s order to drop New York Mayor Eric Adams’s federal corruption charges.

During the debacle, a judge dismissed the Democratic mayor’s charges with prejudice, instead of without prejudice as Bove had requested, meaning the Trump administration could not bring the case again.

The judge’s decision came after the ousted lawyers blasted Bove for engaging in a dishonest quid pro quo with the mayor. The chain of events left some conservative legal analysts harshly questioning the wisdom of Bove’s actions, saying it undermined the DOJ’s work.

Trump’s mass deportation plan involved the unprecedented move of invoking a wartime law called the Alien Enemies Act. Bove indicated during an internal meeting in March that he anticipated judges would attempt to shut down the operation, according to attorney Erez Reuveni.

Reuveni, a 15-year DOJ veteran who was fired after struggling to defend one of the Trump administration’s deportation during a Maryland court hearing, said in a whistleblower complaint published Tuesday that Bove shocked meeting attendees by telling them they would ‘need to consider telling the courts ‘f*** you’ and ignore any such court order.’

Reuveni said Bove’s remarks were far afield of anything he had heard at DOJ during his tenure there and that court defiance and misleading judges were a hallmark of the department during some of the most controversial immigration cases that arose in March.

DOJ attorneys have been admonished by judges for appearing to flout court orders, but they have, thus far, avoided being held in contempt of court and other sanctions.

Bove was known by some of his peers as a zealous prosecutor during his SDNY days, but defense lawyers were alarmed by his ruthlessness. Some viewed him as vicious, rude and power-hungry, according to interviews with attorneys and media reports.

One longtime defense lawyer who crossed paths with Bove in New York told Fox News Digital the nominee was an arrogant ‘bully’ and browbeat people.

In 2018, a band of defense lawyers said in emails reported by the Associated Press that Bove needed ‘adult supervision’ and could not ‘be bothered to treat lesser mortals with respect or empathy.’

A retired New York City FBI agent told the Associated Press that Bove’s perceived turnabout on Jan. 6 riot cases was ‘almost like Dr. Jekyll and Mr. Hyde.’ Bove showed no outward concerns while in New York when he helped with prosecuting the cases, the retired agent said.

When Bove stepped into his role at Trump’s DOJ, he warned the FBI in a formidable memo that leadership would take ‘personnel action’ against FBI agents who participated in Jan. 6 cases, which Trump ‘appropriately described as a ‘grave national injustice’ that has been perpetrated upon the American people,’ Bove wrote. The notion that thousands of employees who interacted in some way with a Jan. 6 case would see their jobs at risk prompted Bove to issue a follow-up note clarifying that employees who merely followed orders had no reason to worry.

An online petition launched by retired New York federal prosecutor Laurie Korenbaum has dozens of signatures as of this publishing and calls Bove’s nomination a ‘travesty.’

Senate Judiciary Committee Democrats have demanded more information on Bove’s time at SDNY, signaling they plan to grill Bove over it during the hearing.

Blanche told Fox News Digital the viewpoints surfacing in the media about Bove were ‘distorted.’

‘The misconception about him is completely driven by kind of a fear that if he takes the bench, he’s going to do something crazy, which he will not,’ Blanche said.

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Former Russian President Dmitry Medvedev said that Moscow is not planning to supply Iran with nuclear warheads, after President Donald Trump mocked him for suggesting that other countries would step in and provide Iran with nuclear weapons after the U.S. strikes against Iranian nuclear facilities. 

Medvedev, now the deputy chairman of the Security Council of Russia, originally said Sunday that Iran would continue to advance its nuclear program and would receive assistance from other nations to do so.

Although Medvedev did not specify any countries, he clarified later Monday that he was not talking about Russia. 

‘I condemn the U.S. strike on Iran — it failed to achieve its objectives,’ Medvedev said in a Monday post on X. ‘However, Russia has no intention of supplying nuclear weapons to Iran because, unlike Israel, we are parties to the Nuclear Non-Proliferation Treaty.’

‘I know quite well what this would entail, having overseen our nuclear forces as president,’ Medvedev said. ‘But other countries might — and that’s what was said.’ 

Medvedev’s statement came after Trump called him out by name in a post on Truth Social following the Russian leader’s original Sunday remarks. 

‘Did I hear Former President Medvedev, from Russia, casually throwing around the ‘N word’ (Nuclear!), and saying that he and other Countries would supply Nuclear Warheads to Iran? Did he really say that or, is it just a figment of my imagination? If he did say that, and, if confirmed, please let me know, IMMEDIATELY. The ‘N word’ should not be treated so casually. I guess that’s why Putin’s ‘THE BOSS,’’ Trump said in a Monday Truth Social Post. 

Andrea Sticker, the deputy director of the Foundation for Defense of Democracies’ nonproliferation and biodefense program, chalked up Medvedev’s initial statement as an attempt to brag and said it was unrealistic for any country to provide such assistance to Iran. 

‘Medvedev’s original claim was likely bluster about Russia or another country supplying Iran with nuclear weapons,’ Stricker said in a Monday email to Fox News Digital. ‘No country, including Pakistan or North Korea, would supply atomic devices to Tehran because they would be held accountable by the United States if Iran used the weapons. Moscow and Pyongyang, at least from available open-source information, appear to be standing mostly idle as their ally Iran takes a major beating.’

The U.S. launched strikes late Saturday targeting key Iranian nuclear facilities, which involved more than 125 U.S. aircraft, Chairman of the Joint Chiefs of Staff Gen. Dan Caine told reporters Sunday. 

Trump announced early Tuesday that a ceasefire had gone into effect between Israel and Iran but scolded both countries hours later following accusations from both sides that the other had violated the agreement. 

Trump told reporters both Israel and Iran failed to follow the terms of the agreement, which he said is still in effect. 

‘I’m not happy with them. I’m not happy with Iran either but I’m really unhappy with Israel going out this morning,’ Trump said at the White House Tuesday morning. 

‘We basically have two countries that have been fighting so long and so hard that they don’t know what the f— they’re doing,’ he said. 

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President Donald Trump thanked former Florida Gov. Jeb Bush after he praised the president’s decision to order strikes against the Islamic Republic of Iran.

‘Thank you to Jeb Bush — Very much appreciated!’ Trump declared in a Tuesday Truth Social post.

Bush, the chairman of the organization United Against Nuclear Iran, issued a statement with several others from the group hailing the president’s move.

‘We applaud President Trump and the United States for this decision—one of the most important of the 21st century,’ the statement declared, calling it ‘an act of courage, clarity, and historical necessity.’

‘President Trump’s decision to neutralize Iran’s regime’s nuclear program is a watershed moment—one that reasserts American strength, restores deterrence, and sends an unmistakable message to rogue regimes: the era of impunity is over. Where others delayed and wavered, President Trump acted,’ the statement asserted, in part.

Bush is the son of the late President George H.W. Bush, and the brother of former President George W. Bush.

The former Sunshine State governor was one of the Republicans who pursued the GOP presidential nomination during the 2016 election cycle, but he dropped out after failing to perform well in early GOP nominating contests.

Former U.S. Ambassador to the UN Nikki Haley and former Vice President Mike Pence are also among those who have expressed support for Trump’s move.

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Sports merchandising giant Fanatics is aiming to build a training camp for athletes to prepare them for life off the field.

More than two dozen NBA, NFL and NHL players participated in the company’s Athlete Immersion Program this past weekend as part of Fanatics Fest in New York City. The program included three days of workshops on business, entrepreneurship, tech and more.

“This definitely opened my eyes,” said Cole Anthony, a guard for the NBA’s Memphis Grizzlies. “I’m already trying to do things on the business side with my partners, my family. It just motivates me more.”

The “coaches” for the business boot camp included Fanatics founder Michael Rubin, Goldman Sachs CEO David Solomon, Apollo Global cofounder and Philadelphia 76ers managing partner Josh Harris, Raising Cane’s founder Todd Graves, ESPN Chairman Jimmy Pitaro and Boardroom cofounder and CEO Rich Kleiman.

Aaron Donald, who retired from the NFL’s Los Angeles Rams in 2024 after winning the Super Bowl, has already begun a new career in business, including an ownership stake in sports nutrition company Ready. But Donald, likely a future Hall of Famer, said he was blown away by the all-star team of business leaders.

“I think it’s one of hell of an opportunity,” said Donald. “I’m in a room with guys running companies worth billions of dollars. How many opportunities are you going to get to do that? You have to take advantage of all of those opportunities and knowledge.”

Fanatics launched the Athlete Immersion Program in 2023 and this year is partnering with Boardroom, a media and advisory company cofounded by Kleiman and NBA superstar Kevin Durant.

“I think it’s great to be able to give them a bit of a blueprint,” said Kleiman. “Being able to put them in the room with people that have the answers, that have done it, that lead industries. I think you get so much power and opportunity just from the information you get from watching, from learning and from being in these rooms and understanding how to move.”

Kleiman pointed to former NBA player Junior Bridgeman, who made less than $3 million during his 12-year career in the league, but built a net worth of more than $1 billion after retirement primarily through investments in Wendy’s, Pizza Hut and Chili’s franchises and then later through Coca-Cola distribution.

“What he did, he’s exceptional,” said Kleiman of Bridgeman, who died in March. “He wasn’t just a name. He actually built an operational team, built them up, oversaw them, and he was a tycoon of a business mind.”

Fanatics Chief People Officer Toretha McGuire said the program is focused on helping athletes use their playing days, what they describe as their “1.0 career” to fuel their “2.0 career.”

It’s an experience similar to a business school with lectures, case studies and projects, in which each athlete creates their own limited-edition clothing line with vintage sports apparel company Mitchell & Ness, a subsidiary of Fanatics.

“They go through a base business case, we teach them business fundamentals, we take them through the Fanatics business case where we bring them to 2021 where Michael [Rubin] did a final capital raise and we basically say, ‘What would you have done?’” McGuire said.

Most professional athletes retire from playing when they’re still young, she added.

“The opportunities they have in their 1.0 careers in terms of access and expanding their networks are going to be very critical,” she said.

Graves, who founded the popular fried chicken chain Raising Cane’s, spoke on a panel about the realities and challenges of entrepreneurship

“If you absolutely want to start a business, imagine how hard it is, multiply that by infinity to be able to make it work,” he said. “You have to be passionate, you have to be in the details 100%. And you have to know what you don’t know, right? So that is bringing in great people to try and grow it.”

The Athlete Immersion Program is meant to be a continuous learning opportunity through which players receive support, education and networking opportunities from Fanatics and Boardroom before and after they begin their business journey.

The next session will be held in December for WNBA, NWSL and MLB athletes in the offseason.

For Anthony, who was recently traded to the Grizzlies from the Orlando Magic, it’s also shown him the real parallels between competing in sports and competing in business.

“The common thing with everyone who has spoken to us and I’ve been able to talk to one-on-one is that every person I met here has been a grinder,” he said. “They make whatever it is they are passionate about, or what they are working on their priority. I think that’s just dope to hear from other people I can relate to in that sense.”

A decade ago, reports suggested 16% of NFL players ultimately filed for bankruptcy — a sign of the type of financial strain many professional athletes face and a cautionary tale of life after the game.

But today, many of the people participating in the Fanatics curriculum believe opportunities like the Athlete Immersion Program can change the narrative — and their financial future.

For Donald, who will be remembered as one of the greatest defenders in NFL history, the focus now is finding the greatest opportunities for the next chapter of his life.

“It would be silly for me to stop the hard work, discipline, the structure that got me to a certain point,” he said. “I’m trying to build generational wealth for my kids.”

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Some Sector Reshuffling, But No New Entries/Exits

Despite a backdrop of significant geopolitical events over the weekend, the market’s reaction appears muted — at least, in European trading. As we assess the RRG best five sectors model based on last Friday’s close, we’re seeing some interesting shifts within the top performers, even as the composition of the top five remains unchanged.

The jump in Technology’s ranking is particularly noteworthy, especially when compared to Consumer Discretionary’s drop to the bottom of the list (position #11). These two sectors often move in tandem, so this divergence is worth keeping an eye on.

  1. (1) Industrials – (XLI)
  2. (5) Technology – (XLK)*
  3. (3) Communication Services – (XLC)
  4. (2) Utilities – (XLU)*
  5. (4) Consumer Staples – (XLP)*
  6. (7) Real-Estate – (XLRE)*
  7. (6) Financials – (XLF)*
  8. (8) Materials – (XLB)
  9. (11) Energy – (XLE)*
  10. (10) Healthcare – (XLV)
  11. (9) Consumer Discretionary – (XLY)*

Weekly RRG Analysis

On the weekly Relative Rotation Graph, the Technology sector is showing impressive strength. Its tail is well-positioned in the improving quadrant, nearly entering the leading quadrant with a strong RRG heading. This movement explains Technology’s climb back into the top ranks.

Industrials remains the only top-five sector still inside the leading quadrant on the weekly RRG. It continues to gain relative strength, moving higher on the JdK RS-Ratio axis while slightly losing relative momentum. All in all, this tail is still in good shape.

Utilities, Communication Services, and Consumer Staples are all currently in the weakening quadrant. Utilities and Staples show negative headings but maintain high RS-Ratio readings, giving them room to potentially curl back up. Communication Services is starting to curl back up toward the leading quadrant.

Daily RRG

Switching to the daily RRG, we get a more nuanced picture:

  • Industrials: In the lagging quadrant with stable relative momentum, this sector needs an improvement in relative strength soon to remain in the top position.
  • Technology: Almost static at a high RS-Ratio reading, indicating a stable relative uptrend.
  • Communication Services: Back in the leading quadrant and still moving higher.
  • Utilities and Consumer Staples: Low readings but curling back up, with Utilities already re-entering the improving quadrant.

This daily view suggests that Utilities and Consumer Staples might maintain their positions in the top five, while raising some concerns about Industrials’ short-term performance.

Industrials: Resistance Roadblock

The industrial sector is grappling with overhead resistance between 142.5 and 145. This struggle is impacting the raw relative strength line, which has rolled over, causing the RS-Momentum line to curl as well.

The RS-Ratio remains elevated and moving higher, but the resistance level is a key area to watch.

Technology: Strong Despite Struggles

XLK is facing overhead resistance in the 240 area for the third consecutive week. From a relative perspective, however, the sector looks robust. The raw RS line broke from its falling channel and is clearly moving higher, dragging both RRG lines upward and pushing XLK into the leading quadrant on the weekly RRG.

Communication Services: Balancing Act

XLC is battling resistance around 105, with its raw RS line remaining inside its channel but slowly curling up against rising support. To maintain its position, we’ll need to see either higher prices for XLC or lower prices for SPY in the coming weeks.

Utilities & Consumer Staples: Range-Bound Challenges

Both of these sectors are stuck within their respective trading ranges, causing their RRG lines to roll over. With SPY moving higher, their relative strength is under pressure, positioning both tails in the weakening quadrant on negative RRG headings.

Portfolio Performance Update

From a portfolio perspective, we’re seeing a slight improvement, but the underperformance still persists. We’re continuing to track movements and position the portfolio according to the mechanical model that is the foundation of this best five sectors series.

Looking Ahead

With no changes to the top five sector positions, we’ll be closely monitoring how this selection holds up in the coming week. The divergence between Technology and Consumer Discretionary is particularly intriguing, and the struggles with overhead resistance across several sectors could prove pivotal.

Imho, the limited market reaction to the weekend’s geopolitical events (so far) suggests a certain resilience, but we’ll need to stay alert for any delayed impacts or shifts in sentiment.

#StayAlert and have a great week ahead. –Julius