Latest news with #criticalminerals
Yahoo
3 hours ago
- Business
- Yahoo
Jim Cramer Says TMC Is a 'Heavily Speculative Stock'
TMC the metals company Inc. (NASDAQ:TMC) is one of the 14 stocks Jim Cramer recently shared insights on. A caller asked for Cramer's opinion of the company. Here's what he had to say in response: 'Okay, heavily speculative stock, and as I said a couple of months ago, I've changed my view on this. If I think that a stock can go up on a headline, I'm no longer going to prevent people from doing, you can be what, you can be that, you can keep that speculative stock. I'm fine.' A tunneling machine underground, deep in the mine to extract the polymetallic nodules. TMC the metals company (NASDAQ:TMC) explores, collects, and processes polymetallic nodules from the seafloor, targeting resources such as nickel, cobalt, copper, and manganese. It holds rights to two contract areas for nodule extraction in the Clarion Clipperton Zone. On June 25, Wedbush upgraded TMC from Neutral to Outperform and raised its price target from $6 to $11. The firm cited 'significantly increased confidence' in the company's long-term growth following an executive order signed by President Trump in late April. The upgrade also reflected recent industry checks focused on expanding domestic critical mineral supply through deep-sea mining. While we acknowledge the potential of TMC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
10 hours ago
- Business
- Forbes
U.S. - China Rare Earths Minerals Deal Can Be Upscaled Via G20
Samples of rare metals displayed in Sillamae, Estonia, where a company is building a new plant to ... More try and challenge China's grip on rare earth magnets, a vital component of electric vehicles. Photographer: Peter Kollanyi/Bloomberg The announcement of a deal between the United States and China on rare earth magnets for a range of technologies is a welcome reprieve for many technology companies and for the defense sector as well. Yet, this deal remains fragile in the context of capricious tariffs and a dysfunctional dispute resolution system within the World Trade Organization. What is now needed is to capitalize on the deal and use it as a confidence-building measure to establish a longer-term international agreement for managing critical minerals supply. In a recent paper, myself and a coalition of scholars from across a range of mineral producing and consuming countries have argued for a 'minerals trust' for the green transition. We also prepared an accompanying policy brief under the auspices of the United Nations University to provide specific policy recommendations ahead of the G7 meeting in Canada earlier this month. The G7 issued a communique on critical minerals on June 17th which was fairly broad in scope but most noteworthy was the fact that China was not singled out for constraining mineral supply. Furthermore, the communique explicitly mentioned the role of the more multilateral G20 organization in furthering aspirations for investment, particularly through the G20 Compact for Africa. China as well as Russia are of course members of the G20 along with other key mineral producers such as Indonesia, Saudi Arabia, Türkiye, Brazil and South Africa. It would be opportune to now move the conversations on minerals diplomacy to the G20 which will incidentally be chaired by the United States of America in 2026. A key intermediary step will be the planned critical minerals conference this September in Chicago which has been announced already at the G7 meetings. At this conference, there needs to be consensus reached on what are realistic targets for 'near-shoring' and diversification based on thigh quality ore bodies and economically feasible technologies. Mineral extraction sites are geologically determined and any policies that set targets for domestic production need to be predicated in geoscience. The challenge at present is that there are more than 400 national policies on critical minerals in various forms worldwide according to the International Energy Agency's policy tracking tool. Most of these policies are not aligned with geoscience or economics of extraction. Furthermore, they often neglect the prospects for a circular economy as well for minerals. The rare earths deal between the United States and China should be expanded to have a systems level approach towards building a minerals trust, particularly for those metals needed for the Green Transition. The trust would also provide opportunities to have stockpiles and source metals from recycled sources. Currently, less than 5% of rare earth magnets are recycled but this may soon change based on recent technologies that have been developed by Swiss Federal Institute of Technology in Zurich (ETH). Yet much of the infrastructure from which these magnets would be recycled is also in China. Ultimately, even with diversification efforts, China's role in sourcing rare earths from both primary and secondary source cannot be discounted and pursuing a cooperative approach is both ecologically and economically prudent.
Associated Press
15 hours ago
- Business
- Associated Press
Welsbach Technology Metals Acquisition Corp. ('WTMA') Announces Successful Approval for its Business Combination with Evolution Metals LLC ('EM') from the Extraordinary General Meeting of Stockholders on June 26, 2025
Chicago, IL and St. Louis, MO, June 27, 2025 (GLOBE NEWSWIRE) -- Welsbach Technology Metals Acquisition Corp. (OTC: WTMA), a publicly traded special purpose acquisition company, today announced the successful approval from its extraordinary general meeting ('Business Combination EGM') of stockholders for its Business Combination with Evolution Metals LLC ('EM'), dedicated to bringing to the US capital markets a secure, reliable global supply chain for critical minerals and materials ('CMM') that is independent of China. Through the Business Combination, WTMA and EM expect to acquire, scale and integrate five operating companies: (1) bonded magnet manufacturing; (2) sintered magnet manufacturing; (3) magnet metals and alloy production; (4) Li-ion battery recycling; and (5) smart machine design and automation. Upon closing, the combined company will be renamed Evolution Metals & Technologies Corp. ('EM&T') and expects to trade on Nasdaq under the symbol EMAT. EM&T's business is to leverage advanced technologies such as robotics and artificial intelligence (AI) to provide integrated midstream and downstream CMM recycling and processing of oxides, metals, magnet alloys, battery materials, and rare earth magnets for key industries including, but not limited to, the automotive, aerospace, defense, healthcare, high tech, consumer electronics and appliances, and renewable energy industries, while driving a sustainable future. 'Today's stockholder approval marks a transformative milestone in our journey to identify a vertically integrated and geopolitically independent supply chain for critical minerals and materials.' said Daniel Mamadou, CEO of WTMA. 'Our merger with Evolution Metals represents not only a strategic alignment of values and vision, but also a decisive step toward delivering long-term value for our stakeholders. We are proud to join forces with Evolution Metals, who shares our commitment to sustainability, innovation, and industrial resilience in an increasingly complex global environment.' David Wilcox, Managing Member of Evolution Metals LLC, added: 'This is an exciting moment for Evolution Metals and our partners. Upon the completion of our merger with WTMA, we we intend to accelerate our mission to create a secure, U.S.-centered supply chain for critical materials vital to clean energy, advanced manufacturing, and national defense. By vertically integrating a supply chain of critical materials production, we bring together complementary strengths and operational capabilities that position us to lead in an era where independence and supply chain security are more important than ever. Our plans are to replicate the Korean operations we expect to acquire into Missouri, creating a major industrial campus. We expect to fully process batteries and e-waste into salts, magnets and related materials – a dominant U.S. Champion in the mid-stream.' In addition, WTMA today announced that WTMA is extending the deadline for its stockholders to withdraw and reverse any previously delivered demand for redemption made in connection with the Business Combination EGM until WTMA determines not to accept reversals of redemption instructions. If a stockholder has previously submitted a request to redeem its shares in connection with the Business Combination EGM and would like to reverse such request, such stockholder may contact WTMA's transfer agent, Continental Stock Transfer & Trust Company, at [email protected]. You can find further information regarding the Business Combination and related matters in WTMA's filings with the US Securities Exchange Commission ('SEC'), including the Registration Statement on Form S-4. These filings are available on the SEC website: About Welsbach Technology Metals Acquisition Corp. Welsbach Technology Metals Acquisition Corp. (OTC: WTMA) is a blank check company focused on identifying high-impact technology metals businesses aligned with global sustainability and security trends. About Evolution Metals LLC Evolution Metals LLC is committed to establishing a secure, robust and reliable supply chain for critical minerals & materials (CMM) that is 100% independent of China for sourcing or supplying feedstocks. EM's strategy is to acquire and develop manufacturing, recycling and processing facilities to produce essential products (including magnets, battery feedstocks and related materials) for industrial uses such as, but not limited to, electric vehicles, electronics, environmental technologies and aerospace and defense applications. EM aims to support the creation of jobs, industry and manufacturing to promote a greener future by providing bespoke solutions to support its clients globally. Cautionary Statement Regarding Forward Looking-Statements Certain statements made in this press release are 'forward looking statements' within the meaning of the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words 'anticipate,' 'believe,' 'can,' 'contemplate,' 'continue,' 'could,' 'estimate,' 'expect,' 'forecast,' 'intend,' 'may,' 'might,' 'outlook,' 'plan,' 'possible,' 'potential,' 'predict,' 'project,' 'seek,' 'should,' 'strive,' 'target,' 'will,' 'would' and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements are based on the current expectations and beliefs of the management of WTMA and EM, as applicable, and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made with the U.S. Securities and Exchange Commission ('SEC') by WTMA and the following: WTMA's ability to complete the proposed Business Combination or, if WTMA does not consummate such proposed Business Combination, any other initial business combination; the risk that the consummation of the proposed Business Combination is significantly delayed; the ability to recognize the anticipated benefits of the proposed Business Combination; the risk that the announcement and consummation of the proposed Business Combination disrupts EM's current plans; following the closing of the proposed Business Combination, WTMA's (which intends to change its name to Evolution Metals & Technologies Corp. (such post-closing entity is referred to as 'New EM')) ability to successfully integrate the business and operations of the target companies (the 'Target Companies') into its ongoing business operations and realize the intended benefits of New EM's acquisition of the Target Companies; New EM's ability to secure sufficient funding to successfully rebuild Critical Mineral Recovery, Inc.'s recycling facility with significant expansion on management's expected timeline and budget, or at all; unexpected costs related to the proposed Business Combination; expectations regarding New EM's strategies and future financial performance, including future business plans, expansion and acquisition plans or objectives, prospective performance and opportunities and competitors, revenues, products and services, pricing, operating expenses, product and service acceptance, market trends, liquidity, cash flows and uses of cash, capital expenditures, and New EM's ability to invest in growth initiatives; satisfaction or waiver (if applicable) of the conditions to the proposed Business Combination, including, among other things: (i) approval of the proposed Business Combination and related agreements and transactions by the WTMA stockholders, the holder of the EM member units and the holders of the equity interests of the other Target Companies, (ii) receipt of approval for listing on Nasdaq Stock Market LLC ('Nasdaq') the shares of WTMA common stock to be issued in connection with the Business Combination, and (iii) the absence of any injunctions; that the amount of cash available in the trust account and from certain other investments is at least equal to the minimum available cash condition amount, after giving effect to redemptions by WTMA stockholders and certain transaction expenses; the occurrence of any other event, change or other circumstances that could give rise to the termination of the Merger Agreement; the implementation, market acceptance and success of New EM's business model and growth strategy; the ability to obtain or maintain the listing of New EM's common stock on Nasdaq following the proposed Business Combination; limited liquidity and trading of WTMA's public securities; the amount of any redemptions by existing holders of WTMA common stock being greater than expected; WTMA's ability to raise financing in the future; WTMA's success in retaining or recruiting, or changes required in, New EM's officers, key employees or directors following the completion of the proposed Business Combination; WTMA officers and directors allocating their time to other businesses and potentially having conflicts of interest with WTMA's business or in approving the proposed Business Combination; the use of proceeds not held in the trust account or available to WTMA from interest income on the trust account balance; the impact of the regulatory environment and complexities with compliance related to such environment, including New EM's ability to meet, and continue to meet, applicable regulatory requirements; New EM's ability to execute its business plan, including with respect to its technical development and commercialization of products, and its growth and go-to-market strategies; New EM's ability to achieve sustained, long-term profitability and commercial success; operational risks, including with respect to New EM's use of agents or resellers in certain jurisdictions, New EM's ability to scale up its manufacturing quantities of its products, New EM's outsourcing of manufacturing and such manufacturers' ability to satisfy New EM's manufacturing needs on a timely basis, the availability of components or raw materials used to manufacture New EM's products and New EM's ability to process customer order backlog; New EM's revenue deriving from a limited number of customers; geopolitical risk and changes in applicable laws or regulations, including with respect to New EM's planned operations outside of the U.S. and Korea; New EM's ability to attract and retain talented personnel; New EM's ability to compete with companies that have significantly more resources; New EM's ability to meet certain certification and compliance standards; New EM's ability to protect its intellectual property rights and ability to protect itself against potential intellectual property infringement claims; the outcome of any known and unknown litigation and regulatory proceedings, including any proceedings that may be instituted against WTMA or EM following announcement of the proposed Business Combination; the potential characterization of New EM as an investment company subject to the Investment Company Act of 1940, as amended; and other factors detailed under the section entitled 'Risk Factors' in the Registration Statement. Should one or more of these risks or uncertainties materialize or should any of the assumptions made by the management of WTMA, EM and the other Target Companies prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Except to the extent required by applicable law or regulation, WTMA, EM and the other Target Companies undertake no obligation to update these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events. Investor & Media Contacts Judith McGarry Evolution Metals LLC Tel: +1 (415) 971-2900 Email: [email protected] Daniel Mamadou Chief Executive Officer Welsbach Technology Metals Acquisition Corp. Tel: +1 (251) 280-1980 Email: [email protected]
CBC
16 hours ago
- Politics
- CBC
Congo, Rwanda sign peace deal to end fighting — and help U.S. access critical minerals
Social Sharing Congo and Rwanda on Friday signed a peace deal facilitated by the U.S. to help end the decades-long deadly fighting in eastern Congo while helping the U.S. government and American companies gain access to critical minerals in the region. U.S. Secretary of State Marco Rubio called it "an important moment after 30 years of war." Earlier, U.S. President Donald Trump said at a news conference that he was able to broker a deal for "one of the worst wars anyone's ever seen." "I was able to get them together and sell it," Trump said. "And not only that, we're getting for the United States a lot of the mineral rights from the Congo." The agreement has been touted as an important step toward peace in the Central African nation of Congo, where conflict with more than 100 armed groups, the most potent backed by Rwanda, has killed millions since the 1990s. It's also at the heart of Trump's push to gain access to critical minerals needed for much of the world's technology at a time when the U.S. and China are actively competing for influence in Africa. Analysts see the deal as a major turning point but don't believe it will quickly end the fighting. The agreement involves provisions on territorial integrity and a prohibition on hostilities, as well as the disengagement, disarmament and conditional integration of non-state armed groups. Peace deal not likely to quickly end the conflict The Rwanda-backed M23 rebel group is the most prominent armed group in the conflict, and its major advance early this year left bodies on the streets. With seven million people displaced in Congo, the United Nations has called it "one of the most protracted, complex, serious humanitarian crises on Earth." Congo hopes the U.S. will provide it with the security support needed to fight the rebels and possibly get them to withdraw from the key cities of Goma and Bukavu, as well as from the entire region, where Rwanda is estimated to have up to 4,000 troops. Rwanda has said that it's defending its territorial interests and not supporting M23. M23 rebels have suggested that the agreement won't be binding on them. The rebel group hasn't been directly involved in the planned peace deal, although it has been part of other ongoing peace talks. Corneille Nangaa, leader of the Congo River Alliance — known by its French acronym AFC — which includes M23, told The Associated Press in March that direct peace talks with Congo can only be held if the country acknowledges their grievances and that "anything regarding us which are done without us, it's against us." An M23 spokesperson, Oscar Balinda, also echoed those thoughts in an interview with the AP this week, saying the U.S.-facilitated deal doesn't concern the rebels. Rwanda has also been accused of exploiting eastern Congo's minerals, a trend analysts say might make it difficult for Rwanda not to be involved in any way in the region. Critical minerals are used in smartphones, advanced fighter jets and much more. A team of UN experts alleged in a December report that "fraudulent extraction, trade and export to Rwanda of [Congo] minerals benefited both AFC/M23 and the Rwandan economy." Rwanda has denied any involvement in Congo's minerals. The deal is also at the heart of the U.S. government's push to counter China in Africa. Chinese companies have been for many years one of the key players in Congo's minerals sector. Chinese cobalt refineries, which account for a majority of the global supply, rely heavily on Congo. WATCH | Is Trump coming after Canada's critical minerals?: Is Trump really coming after Canada for its critical minerals? 1 month ago Duration 25:43 Why is Donald Trump set on coming after Canada's critical minerals? Then, despite cooling inflation, a falling interest rate and steady employment numbers, more Canadians are missing payments on their loans and mortgages. Andrew Chang explains why. 'Trigger-happy proposition' Analysts say the U.S. commitment might depend on how much access it has to the minerals being discussed under separate negotiations between the American and Congolese governments. The mostly untapped minerals are estimated to be worth as much as $24 trillion US by the U.S. Department of Commerce. Christian Moleka, a political scientist at the Congolese think-tank Dypol, called the deal a "major turning point" in the decades-long conflict but said the signing could "in no way eliminate all the issues of the conflict." "The current draft agreement ignores war crimes and justice for victims by imposing a partnership between the victim and the aggressor," he said. "This seems like a trigger-happy proposition and cannot establish lasting peace without justice and reparation." In Congo's North Kivu province, the hardest hit by the fighting, some believe that the peace deal will help resolve the violence but warn that justice must still be served for an enduring peace to take hold. "I don't think the Americans should be trusted 100 per cent," said Hope Muhinuka, an activist from the province. "It is up to us to capitalize on all we have now as an opportunity." The conflict can be traced to the aftermath of the 1994 genocide in Rwanda, where Hutu militias killed between 500,000 and one million ethnic Tutsi, as well as moderate Hutus and Twa, Indigenous people. When Tutsi-led forces fought back, nearly two million Hutus crossed into Congo, fearing reprisals. Rwandan authorities have accused the Hutus who fled of participating in the genocide and alleged that elements of the Congolese army protected them. They have argued that the militias formed by a small fraction of the Hutus are a threat to Rwanda's Tutsi population. WATCH | People in Congo are running out of food and water: People in Goma, Congo, running out of food, water, WFP says 5 months ago Duration 0:28 The World Food Program is warning of shortages of food, clean water and medical supplies in Goma, in eastern Congo, where waves of fighting have displaced thousands of people and disrupted supply chains.
Forbes
a day ago
- Business
- Forbes
Time To Reinvent U.S. Critical Minerals Strategy
While the Trump administration has prioritized critical minerals, several obstacles stand in the way ... More of engaging partners to build a supply chain independent from China. For the Trump administration, critical minerals are a global policy priority. President Donald J. Trump is trying to get China to relax bans on rare earth minerals desperately needed for American industries, including defense and tech. From Greenland to Ukraine, the U.S. is signaling interest and engagement, be it intent to acquire or a comprehensive energy and minerals agreement. In Africa, the U.S. brokered a peace agreement between the Democratic Republic of the Congo and Rwanda, amid conflict over critical minerals on the border of the two countries. This presents opportunities for American investment, driven by a global security strategy by from a president who has notably scaled back from U.S. engagement abroad. This is because critical minerals are key inputs into advanced technologies, healthcare, defense, energy, and other sectors, and have become a cornerstone of U.S. foreign policy (what oil used to be in the 20th century). President Trump has made the development of a critical mineral supply chain to decrease dependence on China for these materials a priority, taking significant steps toward this goal through a March executive order. While mineral agreements have become a key tool of American diplomacy in the modern era, unclear and inconsistently enforced legislation has limited their effectiveness. The Inflation Reduction Act's Limits to Mineral Investment These self-limiting policies predate the current administration and are a bipartisan policy failure. The Inflation Reduction Act, which aimed to build a clean energy supply chain through 'friendshoring' associated materials by offering tax credits for clean energy products manufactured with components sourced from countries with a free trade agreement with the U.S. This excludes several key producers of critical minerals, like the Democratic Republic of the Congo, Indonesia, Kazakhstan, South Africa, Vietnam, and the that do not have FTAs. Although several waivers have been signed to make exceptions to this provision, this is insufficient to create a reliable investment landscape in these countries. Unsurprisingly, investors are hesitant about investing in a place that requires yearly congressional action. IRA tax credits prioritize 'friendshoring' components for green technologies, only allowing these ... More credits to be viable if inputs like critical minerals are sourced from countries with which the U.S. has a free trade agreement. Another aspect of the IRA that limits opportunities for critical mineral investment is its overly broad definition of 'Foreign Entities of Concern', which includes organizations considered 'an entity owned by, controlled by, or subject to the jurisdiction or direction of a foreign government' or 'an entity that is engaged in conduct detrimental to U.S. national security or foreign policy.' While these definitions may seem reasonable at first glance, they can preclude companies with even a tiny stake of Chinese ownership, or doing business in Russia, from receiving American investment. Considering the history and location of Central Asia, clearly that may affect many U.S. partners there. This prevents companies looking to diversify and receive American investment from doing so, pushing them further into the orbit of competitors. It also enables China to weaponize our own laws against us by strategically investing in locales or companies Beijing has no interest in but wants to keep Western counterparts out. Opportunities for Critical Mineral Partnerships Despite these investment-stifling measures, there are several willing partners prepared to build a lucrative relationship in the minerals sphere. One partner that has displayed significant interest is Kazakhstan, which holds reserves of several critical minerals and is already pursuing several avenues of cooperation. In a recent meeting with U.S. Secretary of State Marco Rubio, Kazakh Deputy Prime Minister and Foreign Minister Murat Nurtleu emphasized critical minerals as a key avenue of cooperation between the two countries. American educational institutions are also growing their presence in the country, with the Colorado School of the Mines partnering with a local university to train a skilled workforce for Western mining companies. Secretary of State Marco Rubio met with Kazakh Foreign Minister Murat Nurtleu this June, discussing ... More opportunities for partnership in the critical minerals sector. This demonstrates a new dimension of cooperation with the U.S., fostering relations while producing tangible results and expanding the workforce eligible to work in the specialized mining industry. Such a model can also be applied outside of Kazakhstan, both in Central Asia and beyond. The Risks of Opaque Legislation While these steps are promising, they do not offset the skepticism towards American investment prompted by regulations that exclude too many countries from productive engagement in the mining and refining of the rare earth elements. For example, secondary sanctions against companies or economies dealing with Russia, while not imposed on Kazakh mineral producers, remain a looming threat, having been levied against other entities in Central Asia, a region that was a part of the USSR and now has close ties with its former colonial master. In addition, Astana has been subject to scrutiny by Washington before, having been investigated under Section 232 of the Trade Expansion Act regarding the national security implications of its uranium exports to the U.S. The first Trump Administration ruled that no quotas or other trade measures were to be placed on Kazakhstan as a result of the investigation, yet it sent signals to investors that they may incur political risk by investing in Kazakhstan. Now, a global Section 232 investigation is ongoing, despite the dire need for the U.S. to secure sources of uranium imports. Kazakhstan is the number one exporter of uranium in the world. The United States has made clear its appetite for partnerships in the critical minerals sector and is keen to compete with China and create a supply chain that Beijing does not control. Washington's actions stretching back through multiple administrations, however, create a difficult environment for mineral-rich countries that seek investment but are not amongst the partners of the U.S. with a free trade agreement. Even as the country pursues a secure mineral supply chain, establishing trust and clarity with potential partners must be a top priority. The current state of affairs, where the United States keeps a close circle of trade partners, keeps many potential partners out, and issues random exemptions for others, is untenable. The U.S. cannot afford legislative and policy uncertainties, delays, and confusion when America's national security is on the line.
