Latest news with #ex-U.S.
Business Insider
21 hours ago
- Business
- Business Insider
U.S. firm with ex-military ties plots entry into Africa's top copper-producing nation
A consortium of American investors backed by ex-U.S. military veterans is in advanced talks to acquire Chemaf Resources Ltd., a major copper and cobalt producer based in the Democratic Republic of Congo. A consortium of American investors and former US military personnel is negotiating to acquire a major mineral producer in the DRC Orion Resource Partners and Virtus Minerals are key players in the deal, with Virtus proposing to manage operations and Orion providing financial backing. This acquisition aligns with a broader US strategy to reduce China's dominance in the global critical minerals market, particularly within Africa. The negotiations, involving Orion Resource Partners and Virtus Minerals, reflect a broader push by the United States under President Donald Trump to counter China's dominant position in the critical minerals market, especially in Africa. The US-owned firms have deep ties to the US military and intelligence community, with expertise in critical mineral supply chains. Orion, based in New York, manages around $8 billion in mining-related assets, while Virtus operates a Congolese subsidiary, ROK Metals. Virtus President Gregory Roberts previously served with the CIA and the House Intelligence Committee, and Managing Director Phil Braun is a Green Beret with two decades of military experience. Under the proposed deal, Orion would finance the acquisition and Virtus would oversee operations. Financial details remain undisclosed. However, Bloomberg reports that a source familiar with the negotiations says the parties have not yet entered into an exclusivity agreement, as several aspects of the deal remain unresolved. US's deep interest in Congo's minerals As the world's second-largest producer of copper and the leading source of cobalt, the central African nation has become a strategic focus in Washington's push to counter China's dominance over global critical mineral supply chains. The talks are unfolding amid efforts by President Donald Trump's administration to strengthen American involvement in the Democratic Republic of Congo's mining sector. They are also seen as part of a broader strategy to ease the long-standing tensions between the DRC and Rwanda, disputes that have been deeply rooted in the struggle over control of the region's vast mineral wealth. Chemaf, which operates significant mining assets across the DRC, is one of Congo's most prominent producers of cobalt, an essential metal for batteries and electric vehicles as well as copper, which structures everything from power grids to electronics. With Congo being the world's largest cobalt supplier and second-largest copper producer, control over Chemaf offers enormous geopolitical and economic leverage.
Yahoo
7 days ago
- Business
- Yahoo
Copper set to face demand and price headwinds in H2, says Citi
-- Copper prices are likely to come under pressure in the second half of 2025 due to a combination of tariff-related inventory unwinds and fading Chinese demand, according to Citi analysts. In a new note, Citi said copper is facing '2H'25 demand and price headwinds from Section 232 and China solar frontloading payback.' The bank forecasts prices falling to $8,800 per tonne over the next three months, citing the expected unwind of excess U.S. imports and a slowdown in China's renewable energy-linked copper usage. May data from Citi's Global Copper End-Use Tracker (GCET) is said to have shown a sharp 16% year-over-year spike in copper consumption, driven by record solar installations in China ahead of a June regulatory change. However, Citi cautioned this was 'anomalous' and expects the solar boost to 'disappear from June data onwards.' 'President Trump's announcement of a planned 50% Section 232 tariff from 1st August should disincentivize incremental shipments of copper to the U.S.,' Citi said. The bank estimates that around 500kt of excess copper imports will have arrived by the end of July, which 'will be sufficient to negate U.S. copper import demand for the rest of 2025.' Citi also warned that broader global manufacturing activity remains sluggish and that tariff headwinds should 'weigh on moderately elevated copper positioning, along with ex-U.S. prices and spreads.' Despite the near-term bearish view, Citi remains constructive over the medium term. 'We remain medium-term copper bulls,' the note said, citing expectations for '$10k/t average in 2026 and $11k/t in 2027,' supported by energy transition demand and a more constructive global growth outlook. Related articles Copper set to face demand and price headwinds in H2, says Citi Victoria's Secret Exposed: The Warning Sign Behind the Stock's 52% Collapse Risks Rising? Smart Money Dodged 46%+ Drawdowns on These High-Flying Names Sign in to access your portfolio
Business Upturn
15-07-2025
- Business
- Business Upturn
Aquestive Therapeutics Provides International Expansion Update for Anaphylm™ (epinephrine) Sublingual Film
New Drug Submission meeting scheduled with Health Canada for the third quarter of 2025 Initial briefing book submitted for review to the European Medicines Agency WARREN, N.J., July 15, 2025 (GLOBE NEWSWIRE) — Aquestive Therapeutics, Inc. (NASDAQ: AQST) ('Aquestive' or the 'Company'), a pharmaceutical company advancing medicines to bring meaningful improvement to patients' lives through innovative science and delivery technologies, announced today that Health Canada has granted the Company a meeting to discuss Aquestive's planned New Drug Submission (NDS) for Anaphylm™ (epinephrine) Sublingual Film in Canada. In addition, the Company has submitted an initial briefing book to the European Medicines Agency (EMA). The Company plans to submit a Marketing Authorization Application (MAA) to the EMA as soon as possible. 'These regulatory activities mark the pivotal first steps in Aquestive's comprehensive ex-U.S. regulatory strategy,' said Dan Barber, President and Chief Executive Officer of Aquestive. 'With our U.S. FDA New Drug Application recently accepted and a PDUFA target action date of January 31, 2026 established, we're now positioned to pursue parallel regulatory pathways with the potential to bring needle-free, device-free Anaphylm to patients underserved by current treatment options. Our proven ability to successfully bring innovative therapies to market globally, combined with our oral epinephrine approach, positions us to fundamentally change how patients and caregivers manage severe allergic reactions, including anaphylaxis.' Aquestive brings significant regulatory and commercialization experience to this expansion effort, with six FDA-approved drugs in its portfolio and products currently available across six continents. This established global footprint and regulatory track record positions the Company to efficiently navigate international approval processes. Unlike traditional epinephrine auto-injectors that require needles, Anaphylm™ is administered orally, addressing critical barriers to treatment, including needle phobia, device malfunction concerns, and portability challenges that affect patient compliance and emergency response. The Company's ex-U.S. regulatory strategy prioritizes markets with significant unmet medical needs and regulatory frameworks conducive to innovative therapies. EMA and Canada represent ideal initial international markets given their collaborative regulatory environment and substantial population of patients requiring reliable anaphylaxis treatment options. Aquestive will continue to provide updates on its global regulatory approval progress as it works to establish Anaphylm as the new standard of care for the treatment of severe allergic reactions and anaphylaxis worldwide. About Anaphylm™ (epinephrine) Sublingual Film Anaphylm™ (epinephrine) Sublingual Film is a polymer matrix-based epinephrine prodrug product candidate. Anaphylm is similar in size to a postage stamp, weighs less than an ounce, and begins to dissolve on contact. No water or swallowing is required for administration. The packaging for Anaphylm is thinner and smaller than an average credit card, can be carried in a pocket, and is designed to withstand weather excursions such as exposure to rain and/or sunlight. The Anaphylm trade name for AQST-109 has been conditionally approved by the U.S. Food and Drug Administration (FDA). Final approval of the Anaphylm proprietary name is conditioned on FDA approval of the product candidate. About Aquestive Therapeutics Aquestive is a pharmaceutical company advancing medicines to bring meaningful improvement to patients' lives through innovative science and delivery technologies. We are developing orally administered products to deliver complex molecules, providing novel alternatives to invasive and inconvenient standard of care therapies. Aquestive has four commercialized products marketed by its licensees in the U.S. and around the world, and is the exclusive manufacturer of these licensed products. The Company also collaborates with pharmaceutical companies to bring new molecules to market using proprietary, best-in-class technologies, like PharmFilm®, and has proven drug development and commercialization capabilities. Aquestive is advancing a late-stage proprietary product candidate for the treatment of severe allergic reactions, including anaphylaxis, and an earlier stage epinephrine prodrug topical gel product candidate for possible various dermatology conditions, including alopecia areata. For more information, visit and follow us on LinkedIn. Forward-Looking Statement Certain statements in this press release include 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as 'believe,' 'anticipate,' 'plan,' 'expect,' 'estimate,' 'intend,' 'may,' 'will,' or the negative of those terms, and similar expressions, are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the advancement and related timing of our product candidate Anaphylm™ (epinephrine) Sublingual Film through clinical development and approval by the FDA, Health Canada and EMA; the expected plans for regulatory approval and commercialization of Anaphylm in markets outside of the United States, if approved by the applicable regulatory authorities, including in Canada and the European Union; the advancement of the Company's product candidate AQST-108 through clinical development and approval by the FDA for possible various dermatology conditions including alopecia areata; the potential benefits our products and product candidates could bring to patients; and business strategies, market opportunities, and other statements that are not historical facts. These forward-looking statements are based on our current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such risks and uncertainties include, but are not limited to, risks associated with our development work, including any delays or changes to the timing, cost and success of our product development activities and clinical trials and plans, including those relating to Anaphylm and AQST-108; risk of delays in advancement of the regulatory approval process through the FDA of our product candidates, including with respect to the approval of our filed NDA for Anaphylm, or the failure to receive FDA approval at all for any of our product candidates, including Anaphylm and AQST-108; risk of the Company's ability to generate sufficient clinical data for approval of our product candidates, including with respect to our pharmacokinetic and pharmacodynamic comparability submission for FDA approval of Anaphylm; risk of the Company's ability to address the FDA's comments on the Company's clinical trials and other concerns identified in the FDA's Type C meeting minutes and filing review letter for Anaphylm, including the risk that the FDA may require additional clinical studies for approval of Anaphylm; risk that the FDA may require that an Advisory Committee be required for the approval of Anaphylm and that the Company is able to address any concerns raised by such Advisory Committee or the FDA after review of the advice from the Advisory Committee; risk of delays in advancement of the regulatory approval process outside the U.S. of our product candidates, including Anaphylm in Canada and the European Union; risk of the success of any competing products, including generics; risks and uncertainties inherent in commercializing a new product (including technology risks, financial risks, market risks and implementation risks and regulatory limitations); risk of sufficient capital and cash resources, including sufficient access to available debt and equity financing, including under our ATM facility, and revenues from operations, to satisfy all of our short-term and longer-term liquidity and cash requirements and other cash needs, at the times and in the amounts needed, including to fund commercialization activities relating to fund future clinical development and commercial activities for our product candidates, including Anaphylm and AQST-108, should these product candidates be approved by the FDA, Health Canada and EMA; risk of eroding market share for Suboxone® and risk as a sunsetting product, which accounts for the substantial part of our current operating revenue; risk of default of our debt instruments; risks related to the outsourcing of certain sales, marketing and other operational and staff functions to third parties; risk of the rate and degree of market acceptance in and outside of the U.S. of Anaphylm and our other product candidates, should these product candidates be approved by the FDA, Health Canada and EMA, and for our licensed products in the U.S. and abroad; risk of the size and growth of our product markets; risk of compliance with all FDA and other governmental and customer requirements for our manufacturing facilities; risks associated with intellectual property rights and infringement claims relating to our products; risk that our patent applications for our product candidates, including for Anaphylm, will not be timely issued, or issued at all, by the U.S. Patent and Trademark Office (USPTO); risk of unexpected patent developments; risk of legislation and regulatory actions and changes in laws or regulations affecting our business including relating to our products and products candidates and product pricing, reimbursement or access therefor; risk of loss of significant customers; risks related to claims and legal proceedings against Aquestive including patent infringement, securities, business torts, investigative, product safety or efficacy and antitrust litigation matters; risk of product recalls and withdrawals; risks related to any disruptions in our information technology networks and systems, including the impact of cybersecurity attacks; risk of increased cybersecurity attacks and data accessibility disruptions due to remote working arrangements; risk of adverse developments affecting the financial services industry; risks related to inflation and rising interest rates; risks related to the impact of the COVID-19 global pandemic and other pandemic diseases on our business; risks and uncertainties related to general economic, political (including the Ukraine and Israel wars and other acts of war and terrorism), business, industry, regulatory, financial and market conditions; risks related to uncertainties about U.S. government initiatives and their impact on our business, including imposition of tariffs and other trade restrictions; and other unusual items; and other uncertainties affecting us including those described in the 'Risk Factors' section and in other sections included in the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the U.S. Securities and Exchange Commission. Given those uncertainties, you should not place undue reliance on these forward-looking statements, which speak only as of the date made. All subsequent forward-looking statements attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by this cautionary statement. The Company assumes no obligation to update forward-looking statements or outlook or guidance after the date of this press release whether as a result of new information, future events or otherwise, except as may be required by applicable law. PharmFilm® and the Aquestive logo are registered trademarks of Aquestive Therapeutics, Inc. All other registered trademarks referenced herein are the property of their respective owners. Investor Contact:Brian Korbastr partners [email protected]
Mint
09-07-2025
- Business
- Mint
US copper widens premium against global benchmark after Trumps 50% tariff plan
Premium on US copper against ex-U.S. benchmark widens to 26% Remains below planned 50% tariff as market awaits clarity Goldman Sachs says high initial tariff could be negotiating tool LME cash contract premium falls (Updates prices and adds Yangshan copper premium) LONDON, July 9 (Reuters) - U.S. copper futures widened their premium to the London benchmark on Wednesday, reflecting U.S. President Donald Trump's plan to impose a 50% import tariff on the metal. "I believe the tariff on copper, we're going to make 50%," Trump told reporters at a White House cabinet meeting on Tuesday, with U.S. Commerce Secretary Howard Lutnick later saying the tariff is likely to be in place by August 1 or even earlier. The most active COMEX copper futures contract's premium to the London Metal Exchange three-month contract that serves as the global benchmark jumped to 26% on Wednesday, up from 13% before Trump's announcement. "This is a watershed moment for the copper market in 2025 as the imminent flagged tariff implementation should abruptly close the window for further significant U.S.-bound copper shipments," Citi analysts said in a note. LME copper fell 1.6% to $9,635.50 a metric ton by 1636 GMT after touching $9,553.5 for its lowest since June 13. COMEX copper hit a record high on Tuesday but was last down 3.5% at $5.487 per pound. The COMEX-LME arbitrage remained below the planned 50% rate as the market awaited more clarity on what copper products and suppliers the import tariff would affect. "As with previous tariffs, this higher initial tariff rate could be used as a negotiating anchor, followed by concessions or exemptions," Goldman Sachs said. The biggest copper suppliers to the U.S. - including Chile and Canada - could eventually secure a lower 25% rate, Citi said. Massive copper inflows to the U.S. since Washington started its investigation into potential tariffs in mid-February have also limited the immediate effect of the tariff plan for U.S. copper consumers that include the construction, electronics and transportation sectors. Traders have shipped copper from warehouses around the world to the U.S. over the past five months, raising COMEX inventories to a seven-year high. "The U.S. market is awash with copper, which will now need to find a buyer again," said Julius Baer analyst Carsten Menke. These expectations and daily LME data showing an inflow of 4,625 tons to copper stocks in LME-registered warehouses eased the accumulated tightness in the LME system. The premium between the LME's cash copper contract over three-month copper fell to $22 from $51 on Tuesday. It hit $320 - the highest since November 2021 - less than two weeks ago. In top metals consumer China, the Yangshan copper premium jumped 38% to $40 a metric ton, indicating robust demand. In other metals, LME aluminium rose 0.6% to $2,599.50 a ton, zinc gained 0.9% to $2,743, lead was up 0.1% at $2,057.50 and tin slipped 0.3% to $33,245 while nickel shed 0.3% to $14,990. (Reporting by Polina Devitt Editing by Barbara Lewis and David Goodman)
Business Recorder
09-07-2025
- Business
- Business Recorder
Trump copper tariffs set to spark final scramble to get metal across the border
Copper shipments into the United States are expected to accelerate in the coming weeks in a final scramble to get metal across the border before U.S. President Donald Trump's higher-than-expected 50% tariff on imported copper goes into effect. Trump announced the tariff on copper on Tuesday, sending U.S. Comex copper futures up more than 12% to a record high. U.S. Commerce Secretary Howard Lutnick said the levy would likely be in place by the end of July or August 1. The deadline slaps an expiry date on a months-old playbook whereby traders have pulled metal out of warehouses around the world and shipped it to the U.S. to cash in on a premium that was hovering around $2,600 per metric ton early on Wednesday. With roughly three weeks left, analysts and traders said only cargoes already on the water or coming from Latin America were likely to make it in time. 'Shipments already on route to the U.S. will likely try to get there still, meaning the ex-U.S. markets shouldn't face excess cargoes immediately. But it will be more challenging to ship any extra cargoes in a three-week window,' analysts at Morgan Stanley said in a note. US copper widens premium against global benchmark after Trump's 50% tariff plan Chilean producers with Chinese contracts are likely to step up a practice of redirecting Comex-eligible stock to the U.S. and sending other brands to China instead, according to a Chinese copper trader, who spoke on condition of anonymity. The final rush could mean continued tightness outside the U.S. during a sprint to the tariff deadline, said analysts and traders, after which the gravitational pull of the U.S. will ease, freeing up supplies elsewhere. The U.S. has imported nearly a year's worth of copper in the past six months, according to analysts at J.P. Morgan, who say imports will fall for months after the tariffs go into effect as users work through stockpiles. Copper prices on the London Metal Exchange and the Shanghai Futures Exchange both dipped just over 1% in the hours after Trump's announcement. Citi forecasts copper prices outside the U.S. will pull back to $8,800 per ton over the next three months. Benchmark copper on the LME was trading at $9,603 a metric ton by 0941 GMT. However, any decline is likely to be constrained by tightness across the global copper market, where demand continues to outstrip supply. 'Copper prices on the SHFE are currently under pressure, but they will likely rebound after U.S. copper tariffs are finalised as fundamentals remain tight in the short-term,' according to Zhao Yongcheng, an analyst at benchmark mineral intelligence.
