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The need to ramp up US production of critical metals was a focal point during Oregon Group founder Anthony Milewski’s presentation at this year’s Vancouver Resource Investment Conference (VRIC).

At the event, he spent 15 minutes outlining how US President Donald Trump could reshape the mining industry.

Pointing to China’s dominance in markets like copper, nickel and rare earths, Milewski stressed the need for regulatory support and tax incentives. Additionally, he emphasized the national security importance of these minerals.

As an example of how this theme can translate into gains for investors, he highlighted the journey of Perpetua Resources (TSX:PPTA,NASDAQ:PPTA) an Idaho-focused company that has long been developing the Stibnite project.

“Within the last two months, they have received over a billion dollars from the US government, because it’s a gold mine with an antimony credit — the stock price has performed fabulously,” he told the audience.

“In terms of opportunity, I think what it means is that investors need to relook at these domestic based projects.”

Stibnite’s antimony credits have not only opened the door for Perpetua to get government funding, but are also helping the company expedite the permitting process. In a late January press release, Perpetua praised Idaho Governor Brad Little’s Executive Order, dubbed SPEED, the Strategic Permitting, Efficiency and Economic Development Act.

The order establishes a SPEED Council to improve coordination among state agencies, reduce permitting delays and drive forward projects that promote energy independence, national security, and economic growth.

The need for an efficient and expedited permitting process was also underscored by Milewski.

“It can no longer take 15 years to build a mine, or we are going to continue to see consolidation by China,” he said, suggesting that regulators find tax and other incentives to support new projects.

“This is no longer a matter of who’s going to build your electric vehicle — China is going to dominate that industry. This is now going to become a matter of strategic relevance to our sovereignty, to our military. To whether or not we have a copper industry, a nickel industry; do we have antimony, gallium, germanium, rare earths?’ Milewski continued.

‘So I think that this has really sparked an awareness in America.”

Trump and cross-border cooperation

Milewski also stressed the need for strong partnerships and supply chains between the US and Canada, noting that this extends beyond mine building to encompass refining and processing.

“It’s two parts. It’s the opportunity to build the project, but then it also is important that we see more refining capacity being built out, because you need both in order to make this interesting,” he said.

Switching to the topic of Trump’s proposed tariffs on Canada, Milewski called the threat “noise and bluster.”

However, he lent more credence to the president’s proposal to acquire Greenland. “I think they’re serious about Greenland. I think that that’s actually something that they intend to do, if they can,” he said.

He sees the desire to attain Greenland as being fueled by the US government’s increased focus on securing domestic supply chains for critical minerals amid rising geopolitical tensions. Greenland’s move toward self-determination, China’s firm stance on Taiwan and the ongoing war in Ukraine have underscored the strategic importance of resources like rare earths, antimony and cobalt, which are vital for the defense and technology sectors.

Milewski explained to listeners at VRIC that the US maintained large stockpiles of critical minerals during World War II and the Cold War, but later sold them off, leaving its supply chain vulnerable. Now, policymakers are reconsidering stockpiling and domestic mining, with potential projects in Alaska gaining attention.

If the US moves to rebuild its reserves of key commodities, there could be major price swings in minor metals, where even small market shifts create volatility. For investors, this presents significant opportunities, as mining equities offer leveraged exposure to these potential supply disruptions and policy changes, he added.

“I think the market is lining up to be incredibly bullish for most commodities,” he said.

Be ready for spiky silver to move

Attitudes were similar at VRIC’s silver outlook panel, which was moderated by Jesse Day of Commodity Culture, and featured Jeff Clark, Peter Spina, Peter Krauth and Glenn Jessome.

The panelists honed in on the metal’s strong performance in 2024, when prices rose as much as 46.62 percent by October and ended the year at US$29 per ounce, a 22 percent increase from US$23.68 at the start of the year.

Day pointed to the discrepancy between silver’s stellar streak and the performance of silver equities.

“We know from history that silver is very spiky,” said Jeff Clark, editor of Paydirt Prospector.

“There’s been 10 to 12 major spikes in silver since the 1970s, and the time in between is very boring … (but) then all of a sudden it takes off, and the move is, frankly, sometimes violent,’ he continued.

‘You have to be prepared. You have to be in before that happens, and that includes the equities.’

Clark went on to explain that silver has been in a bear market for over four years since being propelled higher during COVID-19 peak, but history suggests sentiment will eventually shift.

“As far as catalysts go, it could be anything. Roughly half of all the catalysts for gold and silver since the 1970s have been black swans, so you don’t have to try to predict what the catalyst is going to be. You just have to be invested at an appropriate, meaningful level before the next one kicks in,” said Clark.

Silver squeeze still to come?

Picking up on Clark’s points, Peter Spina, president and CEO of GoldSeek.com and SilverSeek.com, underscored the supply and demand fundamentals for the precious and industrial metal.

“We have huge structural supply deficits,” he told the VRIC audience.

“We have a lot of things going in favor of silver right now — the silver squeeze didn’t really materialize as many people had hoped, but we are closer to an actual silver squeeze now than we were years ago.”

According to a November report from Metals Focus, the silver market is poised to record its fourth consecutive deficit in 2024, driven by strong industrial demand and limited supply growth.

The market overview projects that global silver demand will rise 1 percent to 1.21 billion ounces, with industrial use — especially in solar panels and electric vehicle technology — surpassing 700 million ounces for the first time.

Although mine production in several regions is on the rise, building demand from green energy and electrification has tightened supply, leaving the market structurally undersupplied, the report explains.

These fundamentals have added tailwinds to the silver price, which currently above US$30.

“The silver price is starting to push into some really interesting territory where we could see another big move. These things happen very quickly. It is a very volatile metal, and you have to have an appropriate time perspective and stomach for this market at times,’ Spina explained during the panel.

“But if you take a mid to longer-term view of this market, I think the risk reward is quite appealing right now.’

Silver strong long term, patience needed

For Peter Krauth, editor of Silver Stock Investor, silver has strong long-term upside, but patience is key.

He explained that although the silver market is in deficit, secondary inventories have prevented the strong price breakout many investors are looking for. However, now this source of supply is being more and more depleted.

Krauth reiterated Clark and Spina’s points about being in the right place at the right time.

“You have to be in this space,’ he said. “You can’t benefit or profit from it if you’re not there.”

While juniors offer higher risk and reward, Krauth noted that silver investors don’t have to bet on juniors.

He explained that in previous cycles, larger players like Silver Wheaton — now Wheaton Precious Metals (TSX:WPM,NYSE:WPM) — and Pan American Silver (TSX:PAAS,NASDAQ:PAAS) saw massive gains.

Stay tuned for more event coverage, including video interviews with many of the experts who attended.

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

This post appeared first on investingnews.com

President Donald Trump is on the cusp of seeing his 14th Cabinet member confirmed in former Democratic Rep. Tulsi Gabbard. 

Gabbard is slated for a final Senate confirmation vote to be Trump’s director of national intelligence (DNI) on Wednesday morning, after the planned midnight vote was scrapped due to a snowstorm in Washington, D.C.

The 30 hours of post-cloture debate officially expires on her nomination just after midnight. 

Frequently, the debate between the cloture motion and the final vote is minimized in what’s referred to as a ‘time agreement’ between Republicans and Democrats. But with the controversial nature of Gabbard’s nomination and ongoing frustrations with the Department of Government Efficiency (DOGE) and its government audit, no such agreement is expected. 

Gabbard is expected to be confirmed and has already amassed support from hesitant Republicans who voted against Trump’s Defense Secretary Pete Hegseth, requiring Vice President JD Vance to break the tie in the upper chamber. 

Sens. Susan Collins, R-Maine, and Lisa Murkowski, R-Alaska, who are often considered the conference’s moderate members, have both already come out in support of Gabbard. Both lawmakers voted against confirming Hegseth. 

Collins is a member of the Senate Select Committee on Intelligence and voted in favor of the nomination, helping advance it to the full Senate floor. 

Gabbard also snagged the backing of key Sens. Bill Cassidy, R-La., and Todd Young, R-Ind., despite the latter being uncertain before the committee vote. 

Young is also on the Intel Committee and ultimately voted to advance her to the floor, but only after some prodding and discussions with Chairman Tom Cotton, R-Ark., and Vance, who operated rigorous operations to ensure the nomination got through. 

Some concerns that followed Gabbard through her confirmation hearing were her past meeting with former Syrian President Bashar al-Assad, her previous FISA Section 702 stance and her past support for NSA whistleblower Edward Snowden

But these worries were apparently quelled by her answers and the persuasive support of both Cotton and Vance.

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President Donald Trump is expected to sign an executive order Tuesday instructing the Department of Government Efficiency (DOGE) to coordinate with federal agencies and execute massive cuts in federal government staffing numbers.  

The order will instruct DOGE and federal agencies to work together to ‘significantly’ shrink the size of the federal government and limit hiring new employees, according to a White House fact sheet on the order. Specifically, agencies must not hire more than one employee for every four that leave their federal post. 

Agencies will also be instructed to ‘undertake plans for large-scale reductions in force’ and evaluate ways to eliminate or combine agency functions that aren’t legally required.

DOGE Chair Elon Musk, the CEO of SpaceX and Tesla, told reporters Tuesday in the Oval Office that the American people voted for ‘major’ government reform and that the Trump administration would deliver. 

Trump voiced similar sentiments about providing voters what they wanted – to tackle ‘all of this ‘horrible stuff going on’ – and told reporters that he hoped the court system would cooperate. 

‘I hope that the court system is going to allow us to do what we have to do,’ Trump said, who also said he would always abide by a court’s ruling but will be prepared to appeal.

The order builds on another directive Trump signed after his inauguration implementing a federal hiring freeze, as well as an initiative from the U.S. Office of Personnel Management offering more than 2 million federal civilian employees buyouts if they leave their jobs or return to work in person. A federal judge has temporarily blocked the administration’s plan from advancing amid challenges from union groups.

Trump’s executive order aligns with DOGE’s ‘workforce optimization initiative’ and would impose restrictions to hire only for ‘essential positions’ as agencies brace for significant cuts to their workforce, according to the White House fact sheet. 

The executive order will leave just a few areas of the federal government unscathed, including positions affiliated with law enforcement, national security and immigration enforcement. 

DOGE is focused on eliminating wasteful government spending and streamlining efficiency and operations, and it is expected to influence White House policy on budget matters. The group has been tasked with cutting $2 trillion from the federal government budget through efforts to slash spending, government programs and the federal workforce.

The White House said on Feb. 4 that it predicted a ‘spike’ in resignations close to the original Feb. 6 deadline for the buyout offer, which would allow employees to retain all pay and benefits and be exempt from in-person work until Sept. 30.

‘The number of deferred resignations is rapidly growing, and we’re expecting the largest spike 24 to 48 hours before the deadline,’ a White House official told Fox News Digital on Feb. 4.  

So far, approximately 65,000 federal employees have accepted the buyout offer, but a federal judge has issued a pause on the deadline for when employees must submit their resignations. 

U.S. District Judge George O’Toole indefinitely extended a temporary restraining order Monday, pausing the deadline as he evaluates a preliminary injunction request stemming from cases against the buyout program filed by union groups, including the American Federation of Government Employees.

When asked about the buyout, Trump said that there are empty office spaces and that his administration is attempting to reduce the size of government. 

‘We have too many people. We have office spaces occupied by 4% – nobody showing up to work because they were told not to,’ Trump said. 

DOGE has moved to slash other areas of the federal government as well. 

Other recent initiatives by DOGE have included launching an effort to shutter the U.S. Agency for International Development, a group that works to deliver aid to impoverished countries and development assistance. 

The group has come under scrutiny from DOGE amid concerns about wasteful government spending, poor leadership and questionable funding, including an Iraqi version of ‘Sesame Street’ and reportedly millions of dollars in funding to extremist groups tied to designated terrorist organizations and their allies. 

‘It’s been run by a bunch of radical lunatics, and we’re getting them out,’ Trump told reporters on Feb. 2.

Fox News’ Brooke Singman, Emma Colton and Louis Casiano contributed to this report.

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The Trump administration’s decision to slash overhead costs linked to federally funded research has sparked an immense backlash. But some doctors are praising the move, suggesting it will help ‘optimize’ how taxpayer dollars are used when it comes to scientific research.

A new rule from the Trump administration that went into effect Monday, capped facilities and administrative costs, also known as ‘indirect costs,’ at 15% for federally funded research grants provided by the National Institutes of Health (NIH). When a grant is awarded to a scientist by the NIH, an additional percentage, on top of the allocated research funding, goes to the facility housing their work to cover these ‘indirect costs.’

According to an announcement about the new funding cap from the Trump administration, that percentage has historically been around 27% to 28% for each grant. But in some cases, negotiated rates can be as high as 70 to 90%, according to doctors who spoke with Fox News Digital.

‘If that money is cut to 15%, what that means is there’s actually going to be more grants given out to do science. You get more money back to the NIH to give out more science,’ said Dr. Vinay Prasad, a hematologist-oncologist and professor in the Department of Epidemiology and Biostatistics at the University of California, San Francisco.

‘It’s about time,’ said Dr. Erika Schwartz, the founder of Evolved Science, which is a concierge medical practice in New York City with more than 1,500 active patients. 

‘While infrastructure support is necessary, there’s room for more efficient cost management. A reformed funding model could redirect more resources to direct research activities while maintaining essential support services. This could potentially increase the number of funded research projects and accelerate medical breakthroughs, ultimately benefiting patients more directly.’

Prasad posited that universities and research institutions have negotiated ‘sweetheart deals’ that allow them to rake in funds that sometimes aren’t even necessary to the research at hand. To demonstrate his point, he explained the numbers for a research institution that has negotiated a 57% rate for indirect costs:

‘Let’s say I get $100,000 [for a research project] and I need a laboratory… I get $100,000, and then they still get the $57,000 to the university that goes to the administrators, and presumably the fact that I have a lab bench, and the lights, etc. But now let’s say I do the same $100,000 project, but my project is we’re going to analyze genomic sequences from an online repository. So, I just have a laptop… but they still get the $57,000 even though there’s literally no space being given to this person. There’s no bench, there’s no desk, there’s nothing.’

Prasad added that another ‘fundamental problem’ with these negotiated rates is that the money is not formally budgeted, so ‘the American people don’t know where that money is going.’

‘A famous researcher once said to me, an NIH dollar is more valuable than any other dollar because they can use it for whatever purpose they want. Although, nominally, they’re supposed to use it to keep the lights on and, you know, make the buildings run, but that’s not always the case,’ he said.

David Whelan, a former healthcare writer for Forbes who has spent time working in hospitals and now works in the healthcare consulting space, echoed this concern in a post on X that claimed universities have used indirect research grant payments ‘to pocket money.’ 

‘Indirects are just ways for wealthy academic hospitals to pocket money that their investigators won and then create slush for those who are incapable of getting funded on their own,’ Whelan wrote. ‘It’s a huge grift and great place for cuts.’

The Trump administration’s cap on indirect funding associated with NIH research grants was immediately challenged in court with lawsuits from 22 Democratic state attorneys general and a cohort of universities, which argued the move will ‘devastate critical public health research at universities and research institutions in the United States.’

‘Once again, President Trump and Elon Musk are acting in direct violation of the law. In this case, they are causing irreparable damage to ongoing research to develop cures and treatments for cancer, Alzheimer’s disease and related dementias, ALS, Diabetes, Mental Health disorders, opioid abuse, genetic diseases, rare diseases, and other diseases and conditions affecting American families,’ said Rep. Rosa DeLauro, D-Conn., ranking member on the House Appropriations Committee. ‘The Trump Administration is attempting to steal critical funds promised to scientific research institutions funded by the NIH, despite an explicit legal prohibition against this action.’  

In response to the lawsuit from Democratic state attorneys general, a federal judge imposed a temporary restraining order prohibiting NIH agencies from taking any steps to implement, apply or enforce the new rule. 

The judge’s order also required Trump administration agencies that are impacted by the new rule to file reports within 24 hours to confirm the steps they are taking to comply with the ruling. Meanwhile, an in-person hearing date on the matter has been scheduled for Feb. 21.

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President Donald Trump has nominated a Virginia state official to lead the Drug Enforcement Administration (DEA) in his new administration.

In a Truth Social post on Tuesday, Trump wrote that he nominated Terry Cole to become the next administrator of the DEA. Cole is currently the secretary of public safety and homeland security for the Commonwealth of Virginia.

According to the Virginia government’s website, Cole was previously the chief of staff and executive officer at the DEA’s Department of Justice Special Operations Division, and also served as the DEA’s representative to the National Security Council. The website also notes that Cole worked for the DEA for 22 years, though Trump wrote that he was employed by the DEA for 21 years.

In a social media post, Trump said that he was ‘pleased’ to announce Cole, who will need to be confirmed by the U.S. Senate, as his nominee.

‘Terry is a DEA Veteran of 21 years, with tours in Colombia, Afghanistan, and Mexico City, who currently serves as Virginia’s Secretary of Public Safety and Homeland Security, leading 11 State Public Safety Agencies, with more than 19,000 employees,’ Trump’s post read.

Trump also added that Cole holds a degree from the Rochester Institute of Technology, as well as certificates from the University of Virginia and the University of Notre Dame.

‘Together, we will save lives, and MAKE AMERICA SAFE AGAIN. Congratulations Terry!’ the president’s post concluded.

Trump originally named Florida sheriff Chad Chronister as his first pick to lead the DEA, but Chronister, who serves as the sheriff of Hillsborough County, later withdrew his name from consideration in December.

‘To have been nominated by President-Elect @realDonaldTrump to serve as Administrator of the Drug Enforcement Administration is the honor of a lifetime,’ Chronister wrote in a post on X at the time.

‘Over the past several days, as the gravity of this very important responsibility set in, I’ve concluded that I must respectfully withdraw from consideration. There is more work to be done for the citizens of Hillsborough County and a lot of initiatives I am committed to fulfilling.’

The DEA is expected to work with the Department of Homeland Security and U.S. Immigration and Customs Enforcement to fulfill Trump’s campaign promises of restoring safety at the Southern border. At the end of January, federal agents conducted nationwide roundups of more than 1,200 illegal immigrants accused of committing crimes in the U.S.

Fox News Digital’s Stepheny Price contributed to this report.

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A federal judge on Tuesday ordered the Department of Health and Human Services (HHS), the Center for Disease Control (CDC) and the Food and Drug Administration (FDA) to restore web pages and datasets that were taken down in accordance with President Donald Trump’s executive order.

Under U.S. District Judge John Bates’ order, HHS, the CDC and the FDA are required to restore data sets and pages that were ‘removed or substantially modified’ last month ‘without adequate notice or reasoned explanation.’

Earlier this month, Doctors for America, represented by Public Citizen Litigation Group, filed a lawsuit against the Office of Personal Management (OPM), the CDC, the FDA and HHS for removing information that it says was used by doctors and researchers.

‘Removing critical clinical information and datasets from the websites of CDC, FDA, and HHS not only puts the health of our patients at risk, but also endangers research that improves the health and health care of the American public,’ Dr. Reshma Ramachandran, a member of the board of directors for Doctors for America, said in a statement on the organization’s website.  ‘Federal public health agencies must reinstate these resources in full to protect our patients.’

‘These federal agencies exist to serve the American people by protecting public health,’ Zach Shelley, an attorney at Public Citizen Litigation Group and lead counsel on the case, said in the same statement. ‘Removing this vital information flouts that mandate. Our lawsuit seeks to hold them to their responsibilities to the people of this country.’

Doctors for America alleged in its complaint that the removal of the web pages and data sets created a ‘dangerous gap in the scientific data available to monitor and respond to disease outbreaks.’

According to the complaint, the pages and data sets that were either taken down or modified included a report on an HIV medication, pages on ‘environmental justice,’ pages on HIV monitoring and testing and a CDC guide on contraceptives, among others. Doctors for America claim that these pages and reports were either removed or modified to ‘combat what the president described as ‘gender ideology.’’

The web pages in question were taken down in accordance with President Trump’s order on ‘Defending Women from Gender Ideology Extremism and Restoring Biological Truth to the Federal Government.’ In the order, President Trump outlines precise definitions of ‘woman,’ ‘man,’ ‘female,’ ‘male’ and other gendered words, establishing the recognition of two genders as official U.S. policy.

‘The erasure of sex in language and policy has a corrosive impact not just on women but on the validity of the entire American system. Basing federal policy on truth is critical to scientific inquiry, public safety, morale, and trust in government itself,’ the order reads.

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The House and Senate are headed for a collision course on federal budget talks as each chamber hopes to advance its own respective proposals by the end of Thursday.

Speaker Mike Johnson, R-La., told reporters Tuesday that the House Budget Committee would take up a resolution for a massive bill to advance President Donald Trump’s agenda later this week. The panel then scheduled its meeting on the matter for 10 a.m. ET on Thursday. 

Senate Republicans, meanwhile, resolved to push forward with their own legislation after the House GOP missed its self-imposed deadline to kick-start the process last week. 

And while the two chambers agree broadly on what they want to pass via reconciliation, they differ significantly on how to get those goals over the finish line. 

‘What’s the alternative, the Senate version?’ Rep. Ralph Norman, R-S.C., said when asked if House Republicans could come to an agreement. ‘When has the Senate ever given us anything conservative?’

House Budget Committee Chairman Jodey Arrington, R-Texas, caught some members of the Republican conference by surprise at their closed-door meeting on Tuesday morning when he announced to the room that his panel would be advancing a reconciliation resolution, two lawmakers told Fox News Digital.

House and Senate Republicans are aiming to use their congressional majorities to pass a massive conservative policy overhaul via the budget reconciliation process.

By reducing the Senate’s threshold for passage from two-thirds to a simple majority, where the House already operates, Republicans will be able to enact Trump’s plans while entirely skirting Democratic opposition, provided the items included relate to budgetary and other fiscal matters.

GOP lawmakers want to include a wide swath of Trump’s priorities, from more funding for border security to eliminating taxes on tipped and overtime wages.

House Republicans’ plans to advance the bill through committee last week were scuttled after fiscal hawks balked at initial proposals for baseline reductions in government spending – frustrating rank-and-file lawmakers.

‘This is a mechanism that needs to happen that some people are getting hung up on,’ one exasperated House GOP lawmaker said. ‘Some people are acting as if this – you know, I appreciate they’re taking this seriously, but this is just getting the clock started.’

More recent proposals traded by the House GOP would put that minimum total anywhere between roughly $1 trillion and $2.5 trillion.

Meanwhile, the Senate’s proposal is projected to be deficit-neutral, according to a press release. Senate Budget Committee Chairman Lindsey Graham, R-S.C., hopes to advance it by the end of Thursday.

Johnson told reporters Tuesday that bill would be dead on arrival in the House.

‘I’m afraid it’s a nonstarter over here. And, you know, I’ve expressed that to him. And there is no animus or daylight between us. We all are trying to get to the same achievable objectives. And there’s just, you know, different ideas on how to get there,’ the speaker said.

Tensions are growing, however, with Johnson’s critics beginning to blame his leadership for the lack of a definitive roadmap.

‘We’re totally getting jammed by the Senate. Leaders lead, and they don’t wait to get jammed,’ Rep. Max Miller, R-Ohio, told Fox News Digital. ‘If I had somebody who was arguing with me about a top-line number, and if I was speaker, they wouldn’t be in that position anymore.’

‘And I would figure out a way to be resourceful working with the conference and working lines of communication, as opposed to hiding everything and then being three weeks late on the top-line number.’

Johnson told reporters that details of a plan could be public as soon as Tuesday night.

The Senate’s plan differs from the House’s goal in that it would separate Trump’s priorities into two separate bills – including funding for border security and national defense in one bill, while leaving Trump’s desired tax cut extensions for a second portion.

House GOP leaders are concerned that leaving tax cuts for a second bill could leave Republicans with precious little time to reckon with them before the existing provisions expire at the end of this year.

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Learning about the aluminum production from countries around the world offers insight into the important industrial metal, which is used in a wide range of essential applications globally.

The reason aluminum is one of the most in-demand industrial metals is its versatility. The metal is non-toxic and lightweight; it also has a high thermal conductivity, is resistant to corrosion and can be easily cast, machined and formed. Aluminum is the second most malleable metal and sixth most ductile, and it is non-magnetic and non-sparking.

This wide array of benefits means aluminum is used in a huge variety of products, including cans, foils, kitchen utensils, window frames, beer kegs and airplane parts. It also has new applications that make it an important element in the green transition.

As aluminum is a good conductor of electricity and is less costly than copper and other more expensive metals, it is often used in electricity transmission lines. Aluminum is also used as an alloy in steel manufacturing, mixing with stronger, less malleable metals like copper, manganese, magnesium and silicon. This increases strength, but allows the material to remain relatively light. One last benefit of aluminum is its high recovery rate. Because the silvery metal can be recycled time and time again, it has as much as 95 percent energy savings compared to the energy used in primary production.

Where is aluminum found in the world?

While it is one of the Earth’s most abundant metals, aluminum is rarely found as a free metal. That means companies can’t actually mine for the metal itself — instead, they mine bauxite, which is a large source of the world’s aluminum production. The bauxite is processed to obtain alumina, which is then refined further through smelting to produce aluminum.

According to the US Geological Survey, ‘As a general rule, 4 tons of dried bauxite is required to produce 2 tons of alumina, which, in turn, can be used to produce 1 ton of aluminum.’ There are other sources of alumina, including clay and oil shale, but they are not economical at a commercial scale.

The US Geological Survey estimates global bauxite resources to be between 55 billion and 75 billion metric tons with deposits distributed largely in Africa, Oceania, South America, the Caribbean and Asia. Known bauxite reserves stood at 30 billion metric tons in 2023. The five nations with the highest bauxite reserves are Guinea, Vietnam, Australia, Brazil and Jamaica.

In terms of bauxite production, Australia was the world’s largest producer in 2023 at 98 million metric tons of bauxite, closely followed by Guinea at 97 million MT and China at 93 million MT. Brazil and India round out the top five with 31 million and 23 million metric tons of bauxite respectively.

The next step is processing bauxite ore into alumina. China is by far the world’s largest alumina producer, accounting for nearly 59 percent of the world’s production at 82 million metric tons. The next largest alumina producing country, Australia, accounts for more than 13 percent of global supply with 19 million MT. Brazil, India and Russia round out the top five.

Aluminum production by country

The US Geological Survey notes that world aluminum output increased slightly in 2023, coming in at 70 million metric tons (MT) compared to 68.4 million MT in 2022. Below is a look at the nations that make up the world’s top aluminum-producing countries.

1. China

Aluminum production: 41 million metric tons

First on this list of aluminum-producing countries is China, which produced 41 million metric tons of aluminum in 2023, more than half of total global production. China also consumes a considerable amount of aluminum.

Statista points out that China has experienced consistent growth in primary annual aluminum production over the past decade. In 2023, China’s aluminum production increased to a record high for a second year in a row. Production got a boost from ‘strong operations in some of China’s main producing regions, amid profitable conditions, and new projects, chiefly in the northern Inner Mongolia region, that came online,’ Reuters reported.

2. India

Aluminum production 4.1 million metric tons

The second largest aluminum producer is India, which produced 4.1 million metric tons of aluminum in 2023. India has also seen its output grow consistently in recent years. In 2021, its production totaled 3.97 million MT, overtaking Russia, and over the past two years, India has increased its aluminum production even further.

Hindalco Industries (NSE:HINDALCO), the world’s leading aluminum-rolling company, is located in Mumbai. Vedanta (NSE:VEDL), India’s largest aluminum-producing company, expects to invest US$1 billion in its aluminum operations in 2024.

Indian exports are not expected to be heavily impacted by European Union carbon taxes on direct emissions set to go into effect in 2026. The EU is the second largest aluminum consuming region in the world.

3. Russia

Aluminum production: 3.8 million metric tons

Last year, Russia produced 3.8 million metric tons of aluminum, up slightly from the 3.7 million MT it put out in 2022. Leading global aluminum producer RUSAL is headquartered in Moscow.

Russia’s aggressive war in Ukraine and the resulting sanctions were expected to curb the country’s ability to contribute aluminum supply to the global aluminum market; however, China is picking up much of the slack. Rusal has reported that its year-on-year revenues for aluminum exports to China almost doubled in 2023.

4. Canada

Aluminum production: 3 million metric tons

Canada’s aluminum production was 3 million metric tons in 2023, up from the previous year’s total of 2.77 million MT of aluminum. Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO), another leading global aluminum producer, has roughly 16 operations in the country.

The province of Québec is the main aluminum jurisdiction in Canada. There are 10 primary aluminum smelters in Canada, with nine of those being located in Québec, and the province is also home to an alumina refinery. The final smelter is located across the country in the province of British Columbia.

Canada was again the leading supplier of imported aluminum for the US in 2023, accounting for more than half of all imports.

5. United Arab Emirates

Aluminum production: 2.7 million metric tons

Fifth on this list of aluminum-producing countries is the United Arab Emirates (UAE), which produced 2.7 million metric tons. Aluminum production in the UAE has remained steady over the last few years, and came in at 2.65 million MT in 2022.

Emirates Global Aluminum is the largest aluminum producer in the Middle East and contributes nearly 4 percent of all global aluminum. The UAE was the source of 8 percent of US aluminum imports in 2023.

6. Bahrain

Aluminum production: 1.6 million metric tons

Bahrain’s aluminum production came in at 1.6 million metric tons in 2023, on par with the previous year, when it overtook Australia for the sixth spot. The aluminum sector is one of the largest sources of export revenue for Bahrain, taking in US$3 billion in 2023.

Formed in 1981, the Gulf Aluminium Rolling Mill in Bahrain was the first aluminum facility in the Middle East. The downstream has an annual production capacity of more than 165,000 metric tons of flat-rolled aluminum products.

7. Australia

Aluminum production: 1.5 million metric tons

Australia’s aluminum production was down marginally in 2023 at 1.5 million metric tons compared to 1.51 million MT the previous year. In addition to its work as a major aluminum producer in Canada, Rio Tinto also produces the industrial metal in Australia at two of the country’s four aluminum smelters. The mining major sees aluminum as a valuable resource in the new automotive industry.

However, Australia’s aluminum market has been struggling under the weight of the heavy energy costs associated with smelter operations for a number of years now. “Australia is one of the world’s most emissions-intensive aluminium producers,” as per the Institute for Energy Economics and Financial Analysis.

Pittsburgh-based Alcoa (NYSE:AA), another of the world’s largest aluminum producing companies, operates the Kwinana refinery in Western Australia. In January, the firm announced it plans to close up shop at Kwinana later in 2024 due to challenging economics.

8. Norway

Aluminum production: 1.3 million metric tons

Aluminum production in Norway declined in 2023 to 1.3 million metric tons, down from the 1.4 million MT produced in the previous year. Norway is the largest exporter of primary aluminum in the European Union.

Norsk Hydro (OTCQX:NHYKF,OSE:NHY), a Norwegian aluminum and renewable energy company, has a number of aluminum projects and plants in the country. At Sunndal, Norsk Hydro operates the largest primary aluminum plant in Europe.

In its bid to reach zero-carbon aluminum, Hydro announced in June 2024 that it is beginning a three-year industrial scale pilot that will test the use of green hydrogen to power aluminum recycling at the recycling unit in its Høyanger plant Norway.

9. Brazil

Aluminum production: 1.1 million metric tons

Brazil’s aluminum output in 2023 rose by more than 35 percent over the previous year to reach 1.1 million MT, and displace the United States from the ninth top spot for global production.

The country is home to the world’s third largest bauxite reserves, and was the fourth largest bauxite production and third largest alumina production levels by country in 2023. This makes the likelihood of Brazil gaining a further footprint in the global aluminum market very possible, especially given plans by the country’s industry leaders to invest R$30 billion in the domestic market by 2025.

The largest producer of primary aluminum in Brazil is Albras, which has annual production of about 460,000 metric tons of aluminum using renewable energy sources. Albras is a 51/49 joint venture between Norsk Hydro and Nippon Amazon Aluminum Co. (NAAC), a consortium of Japanese companies, trading companies, consumers and manufacturers of aluminum products. In August 2024, Mitsui & Co (TSE:8031) increased its stake in NAAC from 21 to 46 percent in order to increase its offtake of green aluminum.

10. Malaysia

Aluminum production: 980,000 metric tons

Malaysia rounds out the top 10 list of largest aluminum producing countries with 980,000 metric tons of output. The Southeast Asian nation’s output of the metal has boomed dramatically in the last decade; Malaysia’s aluminum production in 2012 was just 121,900 MT.

Aluminium Company of Malaysia, or Alcom, is both the largest producer of rolled aluminum products in the country and Malaysia’s largest aluminum producer. It is part of the holding company Alcom Group (KLSE:2674).

S&P Global reports that Chinese firms are keen on opening aluminum smelting operations in Malaysia. This includes the Bosai group, which is planning a 1 million MT per year operation in the country.

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

This post appeared first on investingnews.com

Amid the maelstrom of indignation around Donald Trump’s proposal to “take over” Gaza, French President Emmanuel Macron has called for “respect” for Palestinians and their Arab neighbors, batting away the US president’s idea of a mass displacement of Gazans from their homeland.

“The right answer is not a real estate operation, this is a political operation,” he said.

While France has been forthright in its support for Israel’s right to defend itself after Hamas’ October 7, 2023, massacre, Macron has not shied from publicly decrying Israel’s policies and conduct in its military operations in Gaza and Lebanon.

France suspended arms exports to the Israel Defense Forces (IDF) in October 2024, calling on other nations to follow suit.

“I always reiterated my disagreement with (Israeli) Prime Minister Netanyahu,” Macron said. “I don’t believe, once again, that such a massive operation targeting sometimes civilian people is the right answer.”

Macron said any “efficient” response to rebuilding Gaza “doesn’t mean automatically that you should lack respect to people or countries,” highlighting the wishes of Palestinians to remain on their homelands and the unwillingness of both Jordan and Egypt to accept large numbers of Gazan refugees.

The provocative proposal lofted by Trump outlined a plan to remove Palestinians from Gaza to neighboring Egypt and Jordan, with the US taking “long-term ownership” of the enclave.

Trump stirred up storms of criticism for bigging up Gaza’s real estate potential, suggesting he could redevelop it into a “Middle Eastern Riviera.”

It’s not the first time those in Trump’s orbit floated that idea. Last year, his son-in-law Jared Kushner, who served as a senior adviser to Trump in his first term, suggested “cleaning up” Gaza by booting out civilians to unlock the “very valuable” waterfront potential of the territory.

Israeli Prime Minister Benjamin Netanyahu backed Trump’s “remarkable idea” during a visit to the US last week. In recent months Israel has seen a wave of far-right settler groups planning and advocating for the redevelopment of Gaza, calling for Arab people to leave and to re-establish Jewish settlements.

Any such land grab from the Palestinians would be illegal under international law, and likely to spark further global condemnation.

Already, like France, the international community has come out vocally against Trump’s plans.

The United Nations was robust, its secretary-general warning Trump against “ethnic cleansing.” Spain’s foreign minister told radio station RNE that “Gazans’ land is Gaza.” In Western Europe, only Dutch far-right figurehead Geert Wilders broke ranks to endorse the plan. “Let Palestinians move to Jordan. Gaza-problem solved!” he wrote on X.

German President Walter Steinmeier said the suggestion was “unacceptable,” and the country’s foreign minister, Annalena Baerbock, said it would “lead to new suffering and new hatred.”

But some allies have tried to play both sides, keeping Trump happy while trying to uphold longheld norms over Palestinian rights. “On the issue of Gaza, Donald Trump is right,” UK Foreign Secretary David Lammy told reporters in Ukraine this week. “Looking at those scenes, Palestinians who have been horrendously displaced over so many months of war, it is clear that Gaza is lying in rubble.”

Lammy went on to add: “We have always been clear in our view that we must see two states and we must see Palestinians able to live and prosper in their homelands in Gaza.” His boss, UK Prime Minister Keir Starmer, also stressed that Palestinians must be allowed back to their homes in Gaza.

France has been full-throated in shooting down plans to displace Palestinians, with the government’s spokesperson describing such a move as a “destabilizing question in the Middle East.”

This post appeared first on cnn.com