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The House of Representatives passed a roughly $80 billion spending package Wednesday evening, taking a significant step toward averting a government shutdown at the end of this month.

The package combines two of Congress’ 12 annual appropriations bills in what’s called a ‘minibus.’ It covers funding for the State Department and related national security, as well as federal financial services and general government operations.

The bill passed with overwhelming bipartisan support in a 341-79 vote.

Glaring questions still remain, however, over funding for the Department of Homeland Security (DHS) as progressives threaten to withhold support from any such bill unless it’s paired with significant reforms to Immigration and Customs Enforcement (ICE).

The push comes from the left in response to an ICE agent shooting 37-year-old Renee Nicole Good, a U.S. citizen who was driving her car when it made physical contact with a law enforcement official who then fatally shot her.

Partisan divisions have erupted over the narrative, with GOP officials like DHS Secretary Kristi Noem saying the agent acted in self-defense, while Democrats on Capitol Hill have called for criminal investigations.

DHS funding was initially expected to be part of this minibus, but House Appropriations Committee Chairman Tom Cole, R-Okla., told reporters earlier this week he would like to see the bill as part of the final package that’s also expected to include funding for the Department of War, Department of Transportation, Department of Labor, the Education Department and Health and Human Services, among others.

But the top Democrat on the panel, Rep. Rosa DeLauro, D-Conn., told reporters Tuesday she wanted to see DHS funding as a separate bill.

‘It’s got to be by itself,’ DeLauro said. ‘It’s got to be separate.’

Meanwhile, the Congressional Progressive Caucus is formally threatening to oppose any DHS funding that does not change immigration enforcement policy, Rep. Ilhan Omar, D-Minn., announced.

‘Our caucus members will oppose all funding for immigration enforcement in any appropriation bills until meaningful reforms are enacted to end militarized policing practices. We cannot, and we should not continue to fund agencies that operate with impunity,’ she told reporters.

But the bill that passed Wednesday did so with wide bipartisan support, as expected.

All federal spending bills after last year’s government shutdown are a product of bipartisan discussions between the House and Senate.

The recent package totals just over $76 billion in federal funds and is now headed to the Senate for its approval before reaching President Donald Trump’s desk.

The State Department and national security bill includes $850 million for an ‘America First Opportunity Fund,’ aimed at giving the secretary of state funding to respond to potential unforeseen circumstances.

Both Republicans and Democrats touted different victories in the legislation, with a summary by House Appropriations Committee Republicans stating the bill supports ‘President Trump’s America First foreign policy by eliminating wasteful spending on DEI or woke programming, climate change mandates, and divisive gender ideologies.’

Democrats said the bill ‘supports women globally’ by ‘protecting funding for bilateral family planning and the United Nations Population Fund (UNFPA)’ and pointed to $6.8 billion for a new account ‘that supports the activities previously funded under Development Assistance.’ 

The bill also provides millions in security assistance for Israel and Taiwan, among other global partners across the world.

The latter bill provides just over $13 billion for the U.S. Treasury for the remainder of fiscal year 2026, while also including a provision that stops the IRS ‘from targeting individuals or groups for exercising their First Amendment rights or ideological beliefs,’ according to Republicans.

It also provides $872 million for the Executive Office of the President and $9.69 billion in discretionary funding for the Federal Judiciary.

Across the Capitol, the Senate is expected to vote on and pass the previous three-bill funding package on Thursday before leaving Washington, D.C., for a weeklong recess.

Neither side appears willing to thrust the government into another shutdown, with Senate Democrats in particular viewing the package as an opportunity to fund several of their priorities. But there is a growing consensus that a short-term funding patch will be needed to allow lawmakers to finish work on the thornier DHS bill.

‘Homeland is obviously the hardest one, and it’s possible that, if we can’t get agreement, that there could be some sort of CR that funds some of these bills into next year,’ Senate Majority Leader John Thune, R-S.D., said.

Still, bipartisan funding talks are still happening, a stark departure from the last government funding deadline in October. But lawmakers in the upper chamber won’t be able to tackle the two-bill package until they return toward the end of the month.

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Japanese Prime Minister Sanae Takaichi plans to dissolve Parliament’s powerful lower house as early as this month, setting up a snap election aimed at securing voter backing for her agenda while her approval ratings remain high, a senior party official said.

The Associated Press reported that the move would allow Takaichi to seek fresh support for her economic and security priorities at a time when her scandal-tainted party and a new coalition partner hold only a slim majority in Japan’s legislature.

Takaichi made history in October when she was elected as Japan’s first female prime minister.

Described by some Japanese and international media as an ultraconservative, hard-line figure, Takaichi has backed strengthening Japan’s defense posture, emerged as a vocal China hawk and supported constitutional revisions to expand the role of the Self-Defense Forces.

Calling a snap election could allow Takaichi to capitalize on approval ratings of about 70% and help her Liberal Democratic Party gain additional seats in Parliament.

Shunichi Suzuki, secretary general of the ruling Liberal Democratic Party, told reporters that Takaichi informed him and other senior officials of her intention to dissolve the lower house ‘soon’ after it convenes Jan. 23.

Suzuki said no date has been set for dissolving the chamber or holding a snap election, adding that Takaichi plans to outline her strategy at a news conference Monday.

Takaichi’s scandal-tainted LDP and its coalition hold only a narrow majority in the lower house, Parliament’s more powerful chamber, after losses in the 2024 election.

By calling an early vote, Takaichi appears to be aiming to expand her party’s share of seats and strengthen its position alongside a new junior coalition partner.

Opposition lawmakers criticized the plan as self-serving, saying it would delay urgent parliamentary debate over the national budget, which must be approved quickly.

Echoing Suzuki’s comments, media reports have said Takaichi plans to dissolve the lower house on Jan. 23, the opening day of this year’s ordinary parliamentary session, potentially setting the stage for a snap election as early as Feb. 8.

Takaichi is seeking voter backing for her agenda, including ‘proactive’ fiscal spending and an accelerated military buildup under a new coalition with the Japan Innovation Party, Suzuki said.

The conservative Japan Innovation Party joined the ruling bloc after the centrist Komeito party withdrew, citing disagreements over Takaichi’s ideological positions and her approach to anti-corruption reforms.

Takaichi met Wednesday with Suzuki and other coalition leaders after holding talks in Nara with South Korean President Lee Jae Myung at a summit aimed at strengthening bilateral ties. The meetings came as she faces rising trade and political tensions with China following remarks on Taiwan that angered Beijing days after she took office.

Winning a snap election would also make it easier for Takaichi and her governing bloc to pass a budget and advance other legislation.

Her Cabinet approved a record 122.3 trillion yen ($770 billion) budget in late December that must clear Parliament before the fiscal year begins in April. The plan includes measures to fight inflation, support low-income households and boost economic growth.

Known for her hawkish and nationalistic views and her ultra-conservative positions on social issues, including gender and sexual diversity, Takaichi is seeking to reclaim conservative voters drawn to emerging populist parties in recent elections.

The Associated Press contributed to this report.

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Iranian Foreign Minister Abbas Araghchi rejected claims of mass casualties amid a recent surge in protests within the Islamic country and blamed any killings that have taken place on an ‘Israeli plot’ intended to create a large number of casualties. 

The claim came during a wide-ranging interview on Fox News’ ‘Special Report with Brett Baier’ Wednesday evening, during which Araghchi was told estimates have indicated the death toll in his country could be anywhere between 2,500 to more than 12,000 protesters. But, according to the top Iranian official, the number is in the hundreds. 

‘When terrorist elements led from outside, entered this, you know, protests and started to shoot, you know, police forces, police officers and security forces. And there were terrorist cells. They came in, they used Daesh-style terrorist operations. They got police officers, burned them alive, they beheaded them, and they started shooting at police officers and also to the people. So as a result, for three days, we had, in fact, fighting against terrorists, and not with the protesters,’ Araghchi said. ‘It was completely a different story.’

According to Araghchi, these rogue, terrorist-like actors he spoke of started shooting at civilians for ‘one reason,’ which he said was to draw the United States into the conflict. 

‘They wanted to increase the number of deaths. Why? Because President Trump has said that if there are killings, he would intervene. And they wanted to drag him into this conflict,’ the Iranian Foreign Minister continued. ‘And that was exactly an Israeli plot. They started to increase the number of deaths by killing ordinary people, by killing police officers, by starting a kind of, you know, fighting inside the different cities.’

Iran has seen widespread unrest since the last week of December, as the country faces a massive economic crash that spurred many in Iran to take to the streets in protest.

 

Contrary to Araghchi’s claims are eyewitness reports that describe government forces in Iran firing upon unarmed protesters. Some even spoke of snipers taking aim at innocent Iranians, according to testimony shared with the New York Times.

During Baier’s interview with Iran’s Foreign Minister, Araghchi also insisted that there are no imminent plans to hang, or otherwise execute, protesters. The top Iranian official tried to downplay the unrest erupting in his country as well, arguing there is now ‘a calm.’    

‘We are in full control,’ Araghchi added. ‘And let’s, you know, hope that wisdom would prevail. And we don’t go for a high level of tension, which could be disastrous for everybody.’

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Several federal prosecutors in Minnesota were formally fired on Wednesday after they gave notice that they had resigned in the wake of internal disagreements over the Justice Department’s handling of a shooting investigation involving Immigration and Customs Enforcement.

The DOJ, at the direction of Attorney General Pam Bondi and Deputy Attorney General Todd Blanche, terminated the employment of five prosecutors in the U.S. attorney’s office in Minnesota, including Joseph Thompson, the No. 2 official there,according to two sources familiar with the matter.

Their resignations and the internal disputes about the shooting probe first surfaced in the New York Times. The prosecutors were positioned to receive paid leave for months prior to their firings on Wednesday,according to the sources.

Thompson was spearheading a massive, high-profile investigation into welfare fraud in the state before he submitted his resignation. His exit came after he clashed with officials in Washington, D.C., over the investigation into the ICE shooting, which left 37-year-old Renee Good dead. Fox News Digital reached out to the U.S. Attorney’s Office in Minnesota in an effort to reach Thompson for comment.

Thompson had expressed during a call with DOJ and FBI officials last week that he was on board with investigating the ICE shooting as an assault on or obstruction of a law enforcement officer, a source familiar with the call told Fox News Digital.

Another one of the fired prosecutors, Melinda Williams, who was also involved in the fraud work, was on the call as well, the source said.

Thompson also indicated that he believed the shooting was justified, two sources said. Prior to the shooting, he had already been discussing the possibility of resigning, the sources said.

Videos of the shooting showed an ICE agent opening fire on Good at close range after she was seen accelerating toward the agent in her vehicle while he was standing in front of it. Critics have argued that the agent improperly used deadly force against Good and that she had turned the wheels of her vehicle away from the agent before accelerating.

The FBI is investigating the incident and has excluded Minnesota prosecutors from the probe, which the Trump administration has said is justified because the incident involved a federal officer. Minnesota leaders have denounced that decision and launched their own parallel investigation.

While supportive of conducting the investigation as an offensive against law enforcement — rather than a civil rights matter against the agent — Thompson had reservations during last week’s call about the DOJ’s plan to also investigate Good’s widow and other possible co-conspirators, the source familiar with the call said.

The FBI had developed evidence that suggested Good and her spouse had at some point been following ICE officers on the day of the shooting, the source said.

That revelation echoes Homeland Security Secretary Kristi Noem’s allegations during a recent press conference that Good had been ‘stalking and impeding’ ICE throughout the day of the shooting. Noem said Good ‘weaponized’ her vehicle and that the ICE agent who fired shots feared for his life.

In a statement to Minnesota Public Radio, Good’s spouse, Becca, said that on Jan. 7, the day of the shooting, she and Renee ‘stopped to support [their] neighbors.’

‘We had whistles. They had guns,’ Becca Good said.

Minneapolis Mayor Jacob Frey and other Democrats have lauded the prosecutors who resigned, framing their departures as a valiant boycott against DOJ.

‘These prosecutors are heroes, and the people pushing to prosecute Renee’s widow are monsters,’ Frey wrote on X.

At this stage, there is no sign that the DOJ is planning to bring charges against Becca Good, despite the DOJ and FBI pursuing an investigation into her as part of a broader probe into any conspiracies to hinder federal law enforcement operations.

Fox News Digital reached out to the DOJ for comment.

David Spunt contributed to this report.

This post appeared first on FOX NEWS

Andy Schectman, president of Miles Franklin, breaks down recent silver market dynamics, including the massive rise in entities standing for delivery of physical metal, increased CME Group (NASDAQ:CME) margin requirements and China’s silver export controls.

‘We’re beginning to see at the highest level a change of mentality, a change of perception of what these metals truly are,’ he said in the interview.

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

This post appeared first on investingnews.com

VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / January 14, 2026 / CoTec Holdings Corp. (TSX-V:CTH)(OTCQB:CTHCF) (‘CoTec’ or the ‘Company’) is pleased to announce that the Company’s CEO, Julian Treger, will host an investor update on Friday, January 16, 2026, at 8:00 a.m. PST / 11:00 a.m. EST.

The update will highlight recent platform and strategic developments across the CoTec portfolio. Management will provide a high-level update on progress at MagIron, a CoTec investment advancing a U.S.-based iron ore and metallics strategy, as well as HyProMag USA, and discuss other key initiatives currently being advanced by the Company. The presentation will also include management’s outlook for 2026, outlining priorities, upcoming milestones, and areas of focus for the year ahead. A Q&A session will follow the presentation.

Investors who wish to attend the presentation may do so by clicking here to register.

Should the above link not work, please copy and paste the following link to your web browser: https://us06web.zoom.us/webinar/register/WN_0NBXb4IIRXOVP0d2l7j5Vg#/registration

About CoTec

CoTec Holdings Corp. (TSX-V:CTH)(OTCQB:CTHCF) is redefining the future of resource extraction and recycling. Focused on rare earth magnets and strategic materials, CoTec integrates breakthrough technologies with strategic assets to unlock secure, sustainable, and low-cost supply chains for the United States and its allies.

CoTec’s mission is clear: accelerate the energy transition while strengthening U.S. economic and national security. By investing in and deploying disruptive technologies, the Company delivers capital-efficient, scalable solutions that transform marginal assets, tailings, waste streams, and recycled products into high-value critical minerals.

From its HyProMag USA magnet recycling joint venture in Texas, to iron tailings reprocessing in Québec, to next-generation copper and iron solutions backed by global majors, CoTec is building a diversified portfolio with long-term growth, rapid cash flow potential, and high barriers to entry. The result is a differentiated platform at the intersection of technology, sustainability, and strategic materials.

For more information, please visit www.cotec.ca

For further information, please contact:
Eugene Hercun, VP Finance, +1 604 537 2413

Forward-Looking Information Cautionary Statement

Statements in this press release regarding the Company and its investments which are not historical facts are ‘forward-looking statements’ that involve risks and uncertainties, including statements relating to management’s expectations with respect to its current and potential future investments and the benefits to the Company which may be implied from such statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. For further details regarding risks and uncertainties facing the Company, please refer to ‘Risk Factors’ in the Company’s filing statement dated April 6, 2022, a copy of which may be found under the Company’s SEDAR+ profile at www.sedarplus.ca

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

SOURCE: CoTec Holdings Corp.

View the original press release on ACCESS Newswire

News Provided by ACCESS Newswire via QuoteMedia

This post appeared first on investingnews.com

The cobalt market entered 2025 under pressure from a prolonged supply glut, but the balance shifted sharply as the year unfolded, due almost entirely to intervention from the Democratic Republic of Congo (DRC).

After starting the year near nine year lows of US$24,343.40 per metric ton, cobalt metal prices had risen to US$53,005 by the end of December, pushed upward by supply concerns stemming from export limits in the DRC.

“The cobalt market in 2025 was characterised by a significant price recovery following the DRC banning the export of all cobalt from its borders in February,” said Aubry. “By the end of 2025, sulphate prices increased 266 percent, hydroxide increased by 328 percent and metal prices by 130 percent year-to-date.”

Q1: Cobalt moves from glut to supply shock

As mentioned, cobalt metal prices hit their weakest level since 2016 in January. Global mine output had more than doubled over five years, far outpacing demand growth from electric vehicles and other end uses.

That dynamic changed abruptly in late February, when the DRC — which supplies roughly three-quarters of the world’s cobalt — imposed a four month suspension on cobalt hydroxide exports.

The news lifted cobalt from US$24,495 at the start of the year to above US$34,000 by the end of March, with intra-month highs nearing US$36,300. The move marked the sector’s first meaningful rebound in nearly two years.

As the DRC exhibited control over cobalt supply, the market began to look to the world’s second largest cobalt-producing nation: Indonesia. Indonesia’s cobalt output is largely a by-product of its laterite nickel industry, produced through high-pressure acid leaching (HPAL) plants that process nickel-rich ores.

These facilities generate mixed hydroxide precipitate (MHP), an intermediate containing both nickel and cobalt that can be further refined into battery-grade materials. The model has enabled Indonesia to rapidly scale its cobalt supply, leveraging its dominant nickel position and integrated processing infrastructure.

Indonesia produced about 31,000 metric tons of cobalt in 2024 — roughly 10 percent of global supply — cementing its position as the world’s second largest producer behind the DRC.

Output growth is being driven by HPAL projects targeting up to 500,000 tons per annum (tpa) of mixed hydroxide precipitate, potentially yielding 50,000 tpa of cobalt, though scaling up may prove challenging.

Indonesian MHP, a lower-cost intermediate that is rich in nickel and cobalt, is increasingly viewed by Chinese refiners as a substitute for DRC-sourced cobalt hydroxide.

Q2 and Q3: A fragile equilibrium forms

The DRC’s export ban continued to underpin prices through the second quarter.

Standard-grade cobalt metal was trading near US$15 to US$16 per pound at the time, while cobalt sulfate posted even sharper gains. Despite the rally, sentiment remained cautious. Chinese refiners drew on existing inventories, and trade data showed cobalt units still flowing into China, particularly from Indonesia.

By June, prices had begun to ease as uncertainty mounted over how long the DRC would maintain controls.

Although China imported significant volumes earlier in the year, analysts warned Indonesian supply would be insufficient to fully offset reduced DRC cobalt shipments. Later that month, the DRC extended its export restrictions through September, reinforcing expectations that the market would move toward balance.

By mid-year, Chinese import data confirmed the impact — cobalt hydroxide inflows had fallen sharply, with analysts projecting constrained refinery feed into late 2025 or early 2026.

Prices stabilized in a broad US$33,000 to US$37,000 range through Q3, supported by tightening supply and diminishing inventories. Market participants increasingly viewed the DRC’s actions as a structural shift rather than a temporary correction, signaling the end of the cobalt surplus that had defined the previous two years.

By late 2025, the cobalt market had transformed from one of chronic oversupply to one approaching equilibrium — a reset driven not by demand growth, but by decisive supply-side intervention.

Q4: Cobalt quotas replace DRC ban, prices climb

After months of supply disruption, the DRC lifted its full cobalt export ban in mid-October, replacing it with a rigid quota system that will shape the market through 2026.

Under the new framework, annual DRC exports are capped at about 96,600 metric tons, roughly half of 2024 levels, with just 18,125 metric tons scheduled for shipment in Q4 2025.

This structural tightening helped sustain elevated prices that surged above US$47,000 by late October, levels not seen since early 2023, amid persistent feedstock shortages and constrained exports.

DRC quotas have provided a degree of market clarity, with major producers like CMOC Group (OTCPL:CMCLF) receiving significant allocations that underpin production plans. Despite robust output guidance, inventories outside the DRC remain tight, and market participants see continued upward price pressure as the quota system curtails supply.

“The DRC’s quota system is set to squeeze supply in the next two years — unless the country revises quotas higher,” wrote Fastmarkets’ Oliver Masson in a December market update.

“Prices are already considerably higher than they were at the beginning of the year, and they are likely to remain elevated for as long as current quota levels remain in force,’ he said. ‘Cobalt is mostly used in batteries, and the longer prices remain elevated, the more likely it is that EV manufacturers will seek to move to low-cobalt or cobalt-free chemistries where feasible. This could slow demand in the medium term.”

Cobalt price forecast for 2026

Looking ahead to 2026, analysts see the cobalt market shifting into a deficit as export caps bite and global feedstock availability shrinks. Fastmarkets projects a structural shortfall of about 10,700 metric tons against demand near 292,300 metric tons, driven by DRC quota limits and ongoing drawdowns of stocks.

Industry forecasters also anticipate that reduced shipments, combined with a stubbornly tight pipeline, will support stronger average prices next year. Some forecasts suggest cobalt could average near US$55,000 in 2026 as export quotas supplant the 2025 ban. Indonesian supply is emerging as a secondary source, with production climbing, but most analysts agree it will be insufficient to offset DRC constraints in the near term.

After a year of dramatic swings driven by supply policy in the DRC, 2026 is shaping up as the first sustained deficit environment in the cobalt market, with prices expected to remain elevated amid structural tightening.

“Prices have substantially recovered over 2025 and are expected to remain elevated in 2026 as the DRC limits exports,” said Aubry. “There is a significant potential upside risk as dwindling ex-DRC stocks present the risk of demand destruction towards the end of the year.”

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

This post appeared first on investingnews.com

Sankamap Metals Inc. (CSE: SCU) (‘Sankamap’ or the ‘Company’) the Company and its auditor continue to work diligently toward the completion and filing of the Company’s annual audited financial statements and management’s discussion and analysis for the fiscal year ended June 30, 2025 (the ‘Required Filings’). The Company has obtained approval from the Alberta Securities Commission to extend the Management Cease Trade Order (‘MCTO’) under National Policy 12-203 Management Cease Trade Orders (‘NP 12-203’) until January 31, 2026. Sankamap confirms that it has received the crucial confirmations from the Solomon Islands government, and that the majority of the audit work has now been completed, with only a limited number of minor confirmations and outstanding items remaining. The Company is actively working to provide the remaining items and is contacting any parties from whom confirmations are still outstanding. Subject to the completion of these remaining items, the audit file is expected to enter the final stages of review and be nearing completion.

The Required Filings were due to be filed by October 28, 2025. In connection with the anticipated delays in making the Required Filings, the Company made an application for a MCTO under NP 12-203 to the Alberta Securities Commission, as principal regulator for the Company, and the MCTO was issued on October 29, 2025. The MCTO restricts all trading by the Company’s CEO and CFO in securities of the Company, whether direct or indirect. The MCTO does not affect the ability of persons who are not directors, officers or insiders of the Company to trade their securities. The MCTO will remain in effect until the Required Filings are filed or until it is revoked or varied.

The Company expects to proceed with the filing of its interim first-quarter financial statements shortly after the Required Filings have been completed and submitted.

The Company confirms that it intends to satisfy the provisions of the alternative information guidelines described in NP 12-203 by issuing bi-weekly default status reports in the form of a news release until it meets the Required Filings requirement. The Company has not taken any steps towards any insolvency proceeding and the Company has no material information relating to its affairs that has not been generally disclosed.

For further information with respect to the MCTO, please refer to the Company’s news releases dated October 21, 2025, November 4, 2025, November 18, 2025, December 3, 2025, December 17, 2025 and December 30, 2025, available for viewing on the Company’s SEDAR+ profile at www.sedarplus.ca.

About Sankamap Metals Inc.

Sankamap Metals Inc. (CSE: SCU) is a Canadian mineral exploration company dedicated to the discovery and development of high-grade copper and gold deposits through its flagship Oceania Project, located in the South Pacific. The Company’s fully permitted assets are strategically positioned in the Solomon Islands, along a prolific geological trend that hosts major copper-gold deposits; including Newcrest’s Lihir Mine, with a resource of 71.9 million ounces of gold¹ (310 Mt containing 23 Moz Au at 2.3 g/t P+P, 520 Mt containing 39 Moz Au at 2.3 g/t indicated, 81 Mt containing 5 Moz Au at 1.9 g/t measured, 61 Mt containing 4.9 Moz Au at 2.3 g/t Inferred).

Exploration is actively advancing at both the Kuma and Fauro properties, part of Sankamap’s Oceania Project in the Solomon Islands. Historical work has already highlighted the mineral potential of both sites, which lie along a highly prospective copper and gold-bearing trend, suggesting the possibility of further, yet-to-be-discovered deposits.

At Kuma, the property is believed to host an underexplored and largely untested porphyry copper-gold (Cu-Au) system. Historical rock chip sampling has returned consistently elevated gold values above 0.5 g/t Au, including a standout sample assaying 11.7% Cu and 13.5 g/t Au2; underscoring the area’s significant potential.

At Fauro, particularly at the Meriguna Target, historical trenching has returned highly encouraging results, including 8.0 meters at 27.95 g/t Au and 14.0 meters at 8.94 g/t Au3. Complementing these results are exceptional grab sample assays, including historical values of up to 173 g/t Au3, along with recent sampling by Sankamap at the Kiovakase Target, which returned numerous high-grade copper values, reaching up to 4.09% Cu. In addition, limited historical shallow drilling intersected 35.0 meters at 2.08 g/t Au3, further underscoring the property’s strong mineral potential and the merit for continued exploration. With a commitment to systematic exploration and a team of experienced professionals, Sankamap aims to unlock the untapped potential of underexplored regions and create substantial value for its shareholders. For more information, please refer to SEDAR+ (www.sedarplus.ca), under Sankamap’s profile.

1.Newcrest Technical Report, 2020 (Lihir: 310 Mt containing 23 Moz Au at 2.3 g/t P+P, 520 Mt containing 39 Moz Au at 2.3 g/t indicated, 81 Mt containing 5 Moz Au at 1.9 g/t measured, 61 Mt containing 4.9 Moz Au at 2.3 g/t Inferred)

2. Historical grab, soil and BLEG samples from SolGold Kuma Review June 2015, and SolGold plc Annual Report 2013/2012

3. September 2010-June 2012 press releases from Solomon Gold Ltd. and SolGold Fauro Island Summary Technical Info 2012

QP Disclosure

The technical content for the Oceania Project in this news release has been reviewed and approved by John Florek, M.Sc., P.Geol., a Qualified Person in accordance with CIM guidelines. Mr. John Florek is in good standing with the Professional Geoscientists of Ontario (Member ID:1228) and a director and officer of the Company.

ON BEHALF OF THE BOARD OF DIRECTORS

s/ ‘John Florek’
John Florek, M.Sc., P.Geol
Chief Executive Officer
Sankamap Metals Inc.

Contact:
John Florek, CEO
T: (807) 228-3531
E: johnf@sankamap.com

The Canadian Securities Exchange has not approved nor disapproved this press release.

Forward-Looking Statements

Certain statements made and information contained herein may constitute ‘forward-looking information’ and ‘forward-looking statements’ within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to Sankamap and there is no assurance that the actual results will meet management’s expectations. Forward-looking statements and information may be identified by such terms as ‘anticipates,’ ‘believes,’ ‘targets,’ ‘estimates,’ ‘plans,’ ‘expects,’ ‘may,’ ‘will,’ ‘could’ or ‘would.’

This press release contains forward-looking statements, including, but not limited to, statements regarding management’s expectations about obtaining the MCTO and completing the Required Filings within the anticipated timeline. Forward-looking statements are subject to various risks, uncertainties, and other factors that could cause actual results or events to differ materially from those expressed or implied by such statements. Sankamap does not undertake any obligation to update forward-looking statements or information, except as required by applicable securities laws. For more information on the Company, investors should review the Company’s continuous disclosure filings that are available at www.sedarplus.ca .

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/280320

News Provided by Newsfile via QuoteMedia

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Iron ore prices have strengthened since bottoming out in September 2024, but the base metal faced headwinds in 2025 as tariff threats and investor uncertainty weighed on the market.

Usage in steel makes iron ore one of the most widely used and essential materials in the world, and as a result its fortune is highly dependent on the strength of the construction and manufacturing sectors.

Iron ore has also seen increased demand from electric vehicle (EV) batteries over the last several years.

Among all countries, China leads the world in steel production, but lacks domestic supply to meet demand; it is also the world’s largest importer of base metals. As one of the biggest manufacturing bases and a significant source of demand for construction and EV production, China exerts considerable influence on iron ore prices.

Additionally, as 2026 begins, the definitive period for the EU’s Carbon Border Adjustment Mechanism (CBAM) is starting — it will apply levies to high-carbon imports such as steel.

How did iron ore prices perform in 2025?

Iron ore started 2025 at US$99.44 per metric ton (MT) on January 6, then hit US$107.26 on February 12.

The start of March saw a steep decline for prices as they retreated toward the US$100 mark, then climbed back to US$104.25 on April 2; a rout in the base metals market saw prices fall to US$99.05 on April 9.

While other metals recovered, iron ore continued to track lower, reaching US$97.41 on May 5 and ultimately sinking to a yearly low of US$93.41 on July 1. During the third quarter, iron ore prices gained momentum, rising above the US$100 mark in August and reaching a quarterly high of US$106.08 on September 8.

Prices were largely rangebound in Q4, dropping below US$104 only once on November 7, then recovering to post a yearly high of US$107.88 on December 4. Prices had retreated to US$106.13 by December 5.

Key iron ore price drivers in 2025

All in all, prices for iron ore didn’t fare too badly in 2025.

The biggest factor affecting growth was a significant fall-off during the first half of the year as pressures mounted from a continuing slump in the Chinese property sector and the threat of US tariffs.

The Chinese real estate sector has been in steep decline since 2021, when two of the nation’s top developers — Country Garden and Evergrande — declared bankruptcy after incurring hundreds of billions of dollars in debt. Since then, the government has introduced various stimulus measures, but has failed to turn the sector around.

As mentioned, because of the sheer size of the property market in China, it is a significant demand driver for steel products and has an outsized influence on the global iron ore market.

Another noteworthy headwind for iron ore price levels this past year was the threat of US tariffs. In early April, US President Donald Trump announced his “Liberation Day” tariffs, which applied a 10 percent levy across the board, and threatened retaliatory tariffs to close trade deficits with most countries.

The move sparked fears of a global recession and triggered a rout in equities and commodities markets, sending prices plunging. However, most markets rebounded quickly as plans were dialed back after a squeeze in the bond market that sent 10 year treasury yields up by more than half a percentage point.

Further iron ore price pressures came later in the year, when the massive Simandou mine in Guinea shipped its first iron ore, destined for smelters in China, on December 2.

Two consortia of companies own the mine. Blocks three and four have a 45/40/15 ownership split between Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO), Chinalco and the Guinea government, and blocks one and two have a 45/35/20 split between Winning International, China Hongquiao Group (HKEX:1378,OTCPL:CHHQF) and United Mining Supply.

The mine will ramp up production over the next 30 months, and is expected to produce 15 million to 20 million MT in 2026 and 40 million to 50 million MT in 2027.

What trends will move the iron ore market in 2026?

“Construction accounts for about 50 percent of steel consumption in terms of end users. The weakness of the property market has, of course, weighed on steel demand and therefore pig iron production. However, the driver for China’s steel production has been industrialisation and urbanisation during the past two decades,” he said.

Sardain went on to state that despite a shift in focus from fixed assets to manufacturing, services and technology, overall steel demand is set to move lower. Although the decline won’t last forever and the property market will stabilize, the effect of even a mild rebound on steel production will be limited:

“However, steel production and iron ore demand have been supported by strong exports in markets such as Southeast Asia, East Asia, the Middle East, Latin America and Africa, mitigating the impact of a lower domestic steel demand. Whether steel exports can increase from their current level is debatable, and we forecast a lower steel production in China over time.’

On the tariff front, US levies aren’t likely to have much impact. Sardain pointed out that while US steel demand exceeds its production capacity, Chinese imports remain a minimal factor.

Meanwhile, the US is primarily producing steel in lower-carbon electric arc furnaces from ferrous scrap.

Although steel tariffs from Canada and Brazil are set at 25 and 50 percent, respectively, both countries have exemptions for iron ore pellets, and Canadian ferrous scrap is covered under CUSMA provisions.

But with the trade pact set to be renegotiated in 2026, it’s uncertain what it means for steel and, by extension, iron products, in the midterm. The best-case scenario is that Canadian steel will receive an exemption.

Still, the risk remains that current CUSMA blanket exemptions will be removed, allowing the US to apply additional tariffs on Canadian goods crossing the border. Likewise, in Europe, the CBAM came into effect on January 1, 2026.

While the impact may take some time to work through the market, it will still have downstream effects for producers that want to avoid tariffs on imported products. This may be one reason Chinese steel producers are switching from higher-carbon blast furnaces to electric arc furnaces in the smelting process.

“Currently, electric arc furnaces account for about 12 percent of China’s steel production, set to increase to 18 percent by the first part of the next decade,” Sardain said, noting that China is looking to cap its emissions by 2030.

The main challenge for iron ore is waning demand, as the primary input for electric arc furnaces is scrap steel, not raw iron. “Countries which will see their steel production increasing (primarily India, but to some extent Russia, Brazil or Iran) are not iron ore importers because they are self-sufficient. Steel production in the EU is flat to lower with more production coming from electric arc furnaces as part of the decarbonisation process,” Sardain said.

Soft demand growth, however, is expected to meet increasing mine supply, further dragging on prices in 2026.

Sardain suggested that all major iron ore miners will increase their production in 2026, with the largest boost coming from Guinea’s Simandou, which could shake up supply chains.

“The blocks one and two are owned by a Chinese-Singaporean consortium. It will provide China with the opportunity to diversify its supply from the major Australian producers (something that the country tried to do for the past 15 years unsuccessfully) and it will shift the supply-demand momentum in favour of China,” he said.

Additionally, the mine is important because of its 65 percent iron content.

Iron ore price forecast for 2026

Sardain expects iron ore prices to remain muted in 2026.

“We believe that price should drop below the US$100 per MT mark, although it could stay above this level in H1 due to seasonality … so, overall, prices staying between US$100 to US$105 per MT in H1, then declining below US$100 per MT in H2, with the ramp-up of the Simandou mine being a determining factor,” he said.

This is largely in line with estimates from other firms. BMI is predicting a 2026 price of US$95, while RBC Capital Markets sees iron ore averaging US$98; the overall consensus stands at US$94.

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

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The interim government in Venezuela has released at least four U.S. citizens who were imprisoned under President Nicolás Maduro’s regime, Fox News confirmed.

The release marks the first known release of Americans in the South American country since the U.S. military completed an operation to capture authoritarian Venezuelan President Nicolás Maduro, who is now facing federal drug trafficking charges in New York.

‘We welcome the release of detained Americans in Venezuela,’ a State Department official said Tuesday. ‘This is an important step in the right direction by the interim authorities.’

The release of American citizens was first reported by Bloomberg.

President Donald Trump said Saturday that Venezuela had begun releasing political prisoners.

‘Venezuela has started the process, in a BIG WAY, of releasing their political prisoners,’ Trump wrote on Truth Social. ‘Thank you! I hope those prisoners will remember how lucky they got that the USA came along and did what had to be done.’

Venezuela’s interim government has reported that 116 prisoners have been released, although only about 70 have been verified by the non-governmental organization Justicia, Encuentro y Perdón, according to Bloomberg.

National Assembly President Jorge Rodríguez said prisoner releases would continue, according to the outlet.

The U.S. government issued a new security alert Saturday urging Americans in Venezuela to leave the country immediately, citing security concerns and limited ability to provide emergency assistance, the U.S. Embassy in Caracas said.

‘U.S. citizens in Venezuela should leave the country immediately,’ the embassy said in the alert.

The warning pointed to reports of armed groups operating on Venezuelan roads.

Following the military operation, Trump suggested that the U.S. would ‘run’ Venezuela for an extended period.

‘We’re going to run the country until such time as we can do a safe, proper and judicious transition,’ he said.

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