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Allied Critical Metals Expands Santa Helena Breccia in Borralha with Long Tungsten Intercepts and Confirms High-Grade Trend

Highlights:

  • The latest drill results build on Bo_RC_14/25 drill hole (previously released as 12.0 metres @ 4.27% WO₃ from 252.0 metres, incl. 6.0 metres @ 8.39% WO₃ from 252.0 metres) and collectively suggests a larger and higher-grade Breccia complex than previously modeled.
  • Bo_RC_17/25 results included 100.0 metres @ 0.21% WO₃ from 52.0 metres, including
    • 32.0 metres @ 0.33% WO₃ (MF 10.6 m%) from 92.0 metres, including 
    • 14.0 metres @ 0.52% WO₃ (MF 5.2 m%) from 106.0 metres, including 
    • 6.0 metres @ 0.74% WO₃ (MF 4.4 m%) from 110.0 metres
      South infill drill hole confirms bulk-mineable medium-grade core with well-defined high-grade corridors.
  • Bo_RC_15/25 results included 2.0 metres @ 0.97% WO₃ from 164.0 metres
    South-west deep step-out drill hole with a high-grade intersection consistent with previously reported Bo_RC_14/25 drill hole.
  • Bo_RC_22/25 results included 64.0 metres @ 0.12% WO₃ from 284.0 metres, including 
    • 16.0 metres @ 0.21% WO₃ from 316.0 metres
      New northern deep lode opens a new northern vector for resource growth.

Allied Critical Metals Inc. (CSE: ACM,OTC:ACMIF) (OTCQB: ACMIF) (FSE: 0VJ0) (‘Allied’ or the ‘Company’), which is focused on its 100% owned past producing Borralha and Vila Verde tungsten projects in northern Portugal, is pleased to announce additional significant assay results from its ongoing 4,200 metres reverse circulation (RC) drilling campaign at its Borralha Tungsten Project. The latest results from drill holes Bo_RC_1525, Bo_RC_1725, and Bo_RC_2225 extend mineralization both west and north of the previously announced Bo_RC_1425 high-grade intercept, reinforcing that the Santa Helena Breccia within the Borralha Project is emerging as a larger and higher-grade orebody than previously modeled. The Company will commence an additional fully funded 1,528 metre drilling in the fourth quarter of 2025 to build off the drilling success in July.

The results are especially timely as tungsten price has now reached a new high of U.S.$550/MTU, which is an increase of more than 40% over the past four months as demand for the critical mineral increases in the face of further supply chain restrictions from non-Western countries [Source: FastMarkets].

Roy Bonnell, CEO & Director of Allied, commented: ‘These thick, continuous intervals in the central-south and the new northern deep lode materially expand the working envelope at the Santa Helena Breccia in Borralha. Together with the previously reported ultra-high-grade intercept in Bo_RC_14/25, we see clear evidence of a system that is both bigger and better than we initially assumed. This is exactly the kind of data we want feeding into the upcoming Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA). Moreover, the results demonstrate the potential of Borralha as a key strategic, safe, and secure source of tungsten for Portugal, the EU and NATO.’

João Barros, President & COO of Allied, stated: ‘Tungsten is recognized by the European Union as both a critical and strategic raw material under the CRMA. With Europe producing less than 3% of its annual needs and facing increasing Chinese export restrictions, the Borralha Project represents a vital opportunity to strengthen secure, Western-aligned supply chains. Our work directly supports the EU target of sourcing at least 10% of its critical raw materials domestically by 2030, while reinforcing Portugal’s role as a key contributor to Europe’s strategic independence. ‘

General (Ret.) James A. ‘Spider’ Marks, Director of the Company’s U.S. subsidiary, stated: ‘Expanding the mineral resource at the Borralha Project is an essential next step in path to fulfilling the immense need in Portugal, the EU, NATO and the United States for tungsten powders, concentrates and other byproducts. The U.S. and NATO defense military complexes are dependent on tungsten. Without domestic supply of tungsten, the Borralha Project becomes a very important piece to the critical mineral supply chains for the United States and NATO.’

These latest drilling results are highly significant because they combine both scale and grade. The long intercepts at 0.21-0.33% WO₃ in Bo_RC_17/25 are particularly meaningful in wolframite systems. In addition, the drilling program is clearly growing the footprint of the Breccia complex. The Bo_RC_22/25 delineates a northern deep lode, while Bo_RC_15/25 ties the west-deep high-grade corridor back to the main body-both lines of evidence supporting a larger Santa Helena Breccia, the principal mineralized body at Borralha Project.

Table 1 – Drill Hole Collar Locations

Drill Hole ID Coordinates (WGS84) Az.(º) Dip.(º) PFD (m) DEPTH (m)
Bo_RC_14/25 585445 4611405 109 80 250 264.00
Bo_RC_15/25 585347 4611368 109 70 300 255.00
Bo_RC_16/25 585406 4611329 105 60 240 251.00
Bo_RC_17/25 585426 4611295 109 75 250 255.00
Bo_RC_18/25 585461 4611431 109 75 300 241.00
Bo_RC_19/25 585470 4611493 109 82 350 247.00
Bo_RC_21/25 585484 4611552 109 85 400 370.00
Bo_RC_22/25 585484 4611552 109 70 360 375.00
Bo_RC_26/25 585586 4611449 289 60 400 287.00

 

Table 2 – Drill Hole Interval Highlights

Drill Hole ID From (m) To (m) DH length (m) [1] True factor [1] True Width (m) [1] WO3 (%)
Bo_RC_14/25 52.0 64.0 12.0 tbd [2] – [2] 4.27
incl. 52.0 58.0 6.0 tbd [2] – [2] 8.39
Bo_RC_15/25 164.0 166.0 2.0 0.88 1.8 0.97
Bo_RC_17/25 52.0 152.0 100.0 0.90 89.9 0.21
incl. 92.0 124.0 32.0 0.90 28.8 0.33
incl. 106.0 120.0 14.0 0.90 12.6 0.52
incl. 110.0 116.0 6.0 0.90 5.4 0.74
Bo_RC_22/25 284.0 348.0 64.0 tbd [2] – [2] 0.12
incl. 316.0 332.0 16.0 tbd [2] – [2] 0.21

 

Notes: [1] Reported intervals are downhole lengths. Estimated true widths were calculated from hole orientation and the interpreted geometry of the mineralized corridors. Estimates may vary locally where geometry changes. Where intervals fall outside the resource block-model domains, true widths are not estimated and only downhole lengths are reported. [2] True widths are unknown.

Figure 1 – Drill collar plan showing planned holes for the ongoing 5,728 m RC campaign at the Borralha Project. The red outline delineates the main mineralized breccia zone.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11632/265932_59740f4fd42498c1_001full.jpg

Figure 2 – Geological Cross-Section for hole Bo_RC_17/25.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11632/265932_59740f4fd42498c1_002full.jpg

Geologic Interpretation

The geologic interpretation indicates that the Santa Helena Breccia is expanding: the combination of broad medium-grade intervals and discrete high-grade intercepts points to a larger, better-connected breccia body than previously modeled. Priority vectors for follow-up include the west-dip high-grade trend (Bo_RC_14/25 and Bo_RC_15/25) and the northern wider deep lode (Bo_RC_22/25), which will guide near-term drilling and feed the Q4 2025 MRE and subsequent PEA workstreams.

Next steps

Ongoing drilling continues to target west-deep and northern extensions while tightening spacing across the MRE backbone. Additional assays from completed holes will be released as received and validated. The program remains aligned with the timeline toward an updated MRE (Q4 2025) and PEA thereafter.

Technical Information and Quality Assurance/Quality Control (QA/QC)

Drilling was completed using reverse-circulation (RC). All sample bags were pre-labelled with a unique internal sequence number used consistently for the assay sample and corresponding reject. Sampling was conducted on 2.0 m intervals for analytics. For each 2.0 m interval, two 1.0 m reject samples were also collected as representative splits. Splitting was performed at the rig via a rotary splitter integral to the RC cyclone.

Sampling followed pre-prepared sample lists that recorded downhole metreage, sequence, and the placement of Certified Reference Materials (CRMs) and field duplicates. CRMs were inserted at a rate of 1 in 20 samples (5%) and field duplicates at 1 in 20 samples (5%), arranged so that every 10th sample alternated between a CRM and a duplicate.

Analytical and reject samples were boxed at the drill site and transported by company personnel to the project core/logging facility. Analytical samples were stored on labelled pallets pending direct shipment to ALS’s preparation laboratory in Seville, Spain. Pulps and rejects were subsequently stored securely in the project logging room.

At ALS Seville, samples were crushed to 70% passing 2 mm, riffle-split to ~250 g, and pulverized using hardened steel to 85% passing 75 μm. Pulps were shipped to ALS Loughrea (Ireland) for analysis. The primary analytical method was ME-MS81 (lithium borate fusion with ICP-MS finish). Base metals were also reported using ME-4ACD81 (four-acid digestion with ICP-MS finish). Over-limit tungsten results were re-assayed using W-XRF15b (lithium borate fusion with XRF). Analytical results were delivered directly by ALS to the Company via secure electronic transfer.

To the best of the Company’s knowledge, no drilling, sampling, recovery, or other factors have been identified that would materially affect the accuracy or reliability of the data referenced herein.

Where reported, metal factor (m·%WO₃) is the product of interval length and grade and is provided as supplemental context only. Primary disclosure remains the reported grade and interval length (and true width where known).

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by Mr. Vítor Arezes, BSc, MIMMM (QMR) (Membership Nº. 703197, Vice-President Exploration of Allied Critical Metals, who is a Qualified Person for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Arezes is not independent of Allied Critical Metals Inc. as he is an officer of the Company.

Understanding Tungsten

To understand tungsten, it is critical to understand the difference between wolframite tungsten mineralization and scheelite tungsten mineralization. Scheelite often reports higher grades (0.3%-1.0% WO₃) but is more costly and complex to process, requiring flotation methods with higher capital and operating expenditures and lower recoveries.i In contrast, wolframite, which is the focus of Allied, can be processed more efficiently using gravity and magnetic separation, resulting in lower costs and higher recoveries, making lower grades (~0.15%-0.25% WO₃) economically viable in wolframite deposits. For example, a wolframite deposit with 0.4% WO₃ over 3 metres can be more profitable than a scheelite deposit with 0.7% WO₃ over the same interval due to lower processing costs and higher recovery rates.ii

In Western exploration drilling, tungsten grades typically range from 0.3% to 1.0% WO₃.iii The cut-off grade for economic viability is generally around 0.1% WO₃, with highly efficient operations able to mine at grades as low as 0.08% WO₃. Skarn deposits, a common deposit type, typically range from 0.34% to 1.4% WO₃, with intercepts of 0.4% WO₃ over 1-5 metres considered very good and 0.7% WO₃ over 1-3 metres considered very high-grade.iv Intercept lengths can range from 0.6 metres to over 100 metres, with longer intercepts at strong grades generally preferred for economic mining.

Published exploration results in Western jurisdictions demonstrate the standards for wolframite, with reported intercepts such as ~9-15 m @ 0.6-0.8% WO₃, ~18 m @ 1.0% WO₃, and typical intervals of 1-5 m @ 0.25-0.5% WO₃. A result like 0.5% WO₃ over 3 metres is generally considered strong within Western tungsten exploration benchmarks, especially for wolframite tungsten mineralization.v

It is also important to recognize that China, Russia, and North Korea control approximately 87% of the world’s tungsten supply, using cheap labor and minimal environmental standards in authoritarian regimes. vi As a result, production costs and grades in these countries are not comparable to Western projects, which operate under higher labor, ESG, and energy cost structures. Evaluating projects outside these regions provides a realistic benchmark for what grades and intercepts are economically viable while supporting secure, NATO-aligned supply chains.

For Allied, this context is significant. Wolframite tungsten grades, ranging from 0.2% to 1.0% WO₃ are strong global wolframite benchmark values. The Company’s focus on wolframite ensures lower processing costs and higher recoveries, supporting project economics even at lower grades. Allied’s operations in secure jurisdictions align with Western critical mineral needs, avoiding geopolitical risks associated with China and Russia while positioning the Company to benefit from growing tungsten demand across defense, aerospace, and electrification sectors. Allied’s strong grades, low-cost processing advantages, and secure location position it as a strategic and responsible tungsten exploration company, well placed to support robust project economics in a rising-demand market. vii

*The results and intercepts referenced are drawn from publicly available disclosures of third-party mineral projects and are presented for industry benchmarking and comparison purposes only. Allied has no interests in those projects or entities.

ON BEHALF OF THE BOARD OF DIRECTORS,

‘Roy Bonnell’

Roy Bonnell, CEO and Director

For further information or investor relations inquiries, please contact:

Dave Burwell
Vice President, Corporate Development
Email: daveb@alliedcritical.com
Tel: 403-410-7907
Toll Free: 1-888-221-0915

ABOUT Allied Critical Metals

Allied Critical Metals Inc. (CSE: ACM,OTC:ACMIF) (OTCQB: ACMIF) (FSE: 0VJ0) is a Canadian-based mining company focused on the expansion and revitalization of its 100% owned past producing Borralha Tungsten Project and the Vila Verde Tungsten Project in northern Portugal with advantageous wolframite tungsten mineralization. Tungsten has been designated a critical metal by the United States and other western countries, as they are aggressively seeking friendly sources of this unique metal. Currently, China, Russia and North Korea represent approximately 86% of the total global supply and reserves. Tungsten is used in a variety of industries such as defense, automotive, manufacturing, electronics, and energy.

Please also visit our website at www.alliedcritical.com.

Also visit us at:

LinkedIn: https://www.linkedin.com/company/allied-critical-metals-inc
X: https://x.com/@alliedcritical/
Instagram: https://www.instagram.com/alliedcriticalmetals/

The Canadian Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

This news release contains ‘forward-looking statements’, including with respect to the use of proceeds. Wherever possible, words such as ‘may’, ‘would’, ‘could’, ‘should’, ‘will’, ‘anticipate’, ‘believe’, ‘plan’, ‘expect’, ‘intend’, ‘estimate’, ‘potential for’ and similar expressions have been used to identify these forward-looking statements. These forward-looking statements reflect the current expectations of the Company’s management for future growth, results of operations, performance and business prospects and opportunities and involve significant known and unknown risks, uncertainties and assumptions, including, without limitation, those listed in the Company’s Listing Statement and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed under the Company’s profile at www.sedarplus.ca ). Examples of forward-looking statements in this news release include, but are not limited to, statements regarding the proposed timeline and use of proceeds for exploration and development of the Company’s mineral projects as described in the Company’s Listing Statement, news releases, and corporate presentations. Should one or more of these risks or uncertainties materialize or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements and reference should also be made to the Company’s Listing Statement dated April 23, 2025 and news release dated May 16, 2025, and the documents incorporated by reference therein, filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors. The Company disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise, except as required by law.

i International Tungsten Industry Association (ITIA). (2023). Tungsten: Global industry, markets & outlook. Retrieved from https://www.itia.info

ii International Tungsten Industry Association (ITIA). (2023). Tungsten: Global industry, markets & outlook. Retrieved from https://www.itia.info

iii US Geological Survey (USGS). (2024). Mineral commodity summaries: Tungsten. Retrieved from https://pubs.usgs.gov/periodicals/mcs2024/mcs2024-tungsten.pdf

iv British Geological Survey (BGS). (2023). Tungsten fact sheet. Retrieved from https://www.bgs.ac.uk/downloads/start.cfm?id=1408

International Tungsten Industry Association (ITIA). (2023). Tungsten: Global industry, markets & outlook. Retrieved from https://www.itia.info

v Argus Media Group. (2025). Argus Tungsten Monthly Outlook. Issue 26-6, 11 June 2025. https://argusmedia.com

vi International Tungsten Industry Association (ITIA). (2023). Tungsten: Global industry, markets & outlook. Retrieved from https://www.itia.info

US Geological Survey (USGS). (2024). Mineral commodity summaries: Tungsten. Retrieved from https://pubs.usgs.gov/periodicals/mcs2024/mcs2024-tungsten.pdf

vii International Tungsten Industry Association (ITIA). (2023). Tungsten: Global industry, markets & outlook. Retrieved from https://www.itia.info

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/265932

News Provided by Newsfile via QuoteMedia

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Newmont to Exit Toronto Stock Exchange as Cost Cuts Deepen

Newmont (TSX:NGT,NYSE:NEM,ASX:NEM) is preparing to withdraw from the Toronto Stock Exchange later this month, the latest in a string of moves to streamline operations and rein in costs following its US$15 billion takeover of Newcrest Mining in 2023.

The Denver-based miner said Wednesday it has applied for a voluntary delisting of its common shares from the TSX, effective at the close of trading on September 24.

The company cited “low trading volumes” on the Canadian exchange and said the decision is expected to “improve administrative efficiency and reduce costs for the benefit of Newmont’s shareholders.”

Newmont’s shares will continue to trade on the New York Stock Exchange, where it maintains its primary listing, as well as on the Australian Securities Exchange and the Papua New Guinea Stock Exchange under the ticker symbol NEM.

Rising costs and restructuring plans

Newmont’s all-in sustaining costs reached record levels earlier this year, eroding profits even as bullion prices hit all-time highs above US$3,500 an ounce in April and remained above US$3,300 through most of the summer.

The company has acknowledged that its cost base has outpaced peers. In the second quarter, Newmont’s costs were nearly 25 percent higher than those of Agnico Eagle Mines, a Canadian rival considered one of the industry’s leanest producers.

Costs have also risen more than 50 percent over the past five years, driven by higher energy, labor, and material prices, as well as integration expenses tied to Newcrest’s operations.

Chief Executive Officer Tom Palmer told investors in July that Newmont was pursuing additional measures to lower its expenses.

Behind the scenes, Newmont has been preparing for more aggressive measures.

People familiar with the matter told Bloomberg News that management has set an internal target to lower costs by as much as US$300 per ounce, or roughly 20 percent.

Meeting that benchmark could require thousands of layoffs across the company’s global workforce of about 22,000, excluding contractors.

While Newmont has not disclosed the scope of planned reductions, some employees have already been informed of redundancies, according to the report. Managers have also been briefed on potential curbs to long-term incentive programs as part of a broader restructuring.

A company spokesperson confirmed earlier this year that Newmont launched a cost and productivity improvement program in February.

Alongside cost cutting, Newmont has moved swiftly to divest non-core assets acquired in the Newcrest deal.

Since late 2024, the company has sold multiple Canadian operations: the Eleonore mine for about US$795 million, the Musselwhite mine in Ontario for $850 million, and its stake in the Porcupine operations for US$425 million.

The asset sales are intended not only to cut debt but also to sharpen focus on higher-margin operations, particularly in North America and Australia.

Despite higher costs, Newmont shares have surged 95 percent this year, followed by also announcing a US$3 billion share repurchase program in July.

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

This post appeared first on investingnews.com

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Crypto Market Update: Klarna Raises US$1.37 Billion in IPO, SEC Shares Crypto Blueprint

Here’s a quick recap of the crypto landscape for Wednesday (September 10) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$113,543, a 1.9 percent increase in 24 hours. Its highest valuation of the day was US$114,246, and its lowest was US$112,205.

Bitcoin price performance, September 10, 2025.

Chart via TradingView.

Bitcoin broke through US$114,000 on Wednesday after US producer price index numbers for August came in lower than expected, thanks to a decline in the cost of services.

Crypto trader Rekt Capital has identified US$113,000 as a potential resistance zone.

“Each rejection from $113k (red) has yielded shallower and shallower pullbacks,” he commented. ‘It has taken some time but it is increasingly looking like $113k is weakening as a point of rejection.’

“It’s unlikely Bitcoin has already peaked in its Bull Market because that would effectively mean that this cycle was one of the shortest of all time,” he said in another post, suggesting Bitcoin could have more room to run.

Ether (ETH) was priced at US$4,324.50, an increase of 0.7 percent over the past 24 hours. Its highest valuation on Wednesday was US$4,437.72, and its lowest was US$4,305.60.

Altcoin price update

  • Solana (SOL) was priced at US$221.78, an increase of 2.4 percent over the last 24 hours. Its highest valuation on Wednesday was US$224.95, and its lowest level was US$219.27.
  • XRP was trading for US$2.98, up by 0.4 percent in the past 24 hours. Its highest valuation of the day was US$3.02, and its lowest valuation was US$2.96.
  • SUI (Sui) was valued at US$3.55, up by 2.3 percent in the past 24 hours. Its highest price on Wednesday was US$3.62 and its lowest was US$.351.
  • Cardano (ADA) was priced at US$0.8757, up by 1.5 percent over 24 hours. Its highest valuation on Wednesday was US$0.8933, and its lowest was US$0.8726.

Today’s crypto news to know

Klarna secures US$1.37 billion in New York IPO

Klarna (NYSE:KLAR) raised US$1.37 billion in its US initial public offering (IPO) this week, marking one of the largest fintech listings of the year and a potential catalyst for other high-growth firms eyeing Wall Street.

The Swedish buy-now-pay-later company sold 34.3 million shares at US$40 each, topping its expected price range and valuing the firm at roughly US$15 billion. Investor appetite was strong, with the deal oversubscribed 25 times. The figure, however, is still far below the US$45 billion valuation it commanded at the peak of its pandemic surge.

Klarna, backed by Sequoia Capital, has been unprofitable since expanding aggressively in the US, where costs have climbed faster than revenues. The company’s losses widened to US$52 million in the second quarter, but overall sales still grew nearly 21 percent year-on-year.

SEC unveils ‘bold blueprint’ for crypto regulation

At an Organization for Economic Cooperation and Development roundtable in Paris, France, on Wednesday, US Securities and Exchange Commission (SEC) Chair Paul Atkins outlined a “bold blueprint” to accommodate blockchain-based financial markets with modern securities regulations under the Project Crypto initiative.

“It is a new day at the SEC,” Atkins said. “Policy will no longer be set by ad hoc enforcement actions. We will provide clear, predictable rules of the road so that innovators can thrive in the United States.

Under the SEC’s new regulatory approach, most crypto tokens will not be classified as securities. The initiative also aims to modernize securities rules to enable crypto platforms to operate as so-called super apps that offer trading, lending and staking services under one unified regulatory framework. Additionally, the SEC is preparing for the expanding role of artificial intelligence (AI) in finance by creating an AI task force and encouraging innovation in agentic finance.

Paxos teams up with PayPal and Venmo for USDH stablecoin

Stablecoin issuer Paxos has updated its proposal to issue USDH, the planned stablecoin of decentralized exchange Hyperliquid, adding support from PayPal Holdings (NASDAQ:PYPL) and Venmo.

According to the announcement, PayPal will support both the HYPE token and USDH at its checkout, as well as provide US$20 million in incentives committed to the HYPE ecosystem.

The company will also integrate USDH into its payment app, Venmo and its money remittance service, Xoom.

Paxos indicated that USDH could achieve global circulation due to its regulatory status within the EU. “Paxos is the only issuer in the world today that can ensure that USDH can scale globally in a fully compliant manner,” it said.

The company reiterated that its commitment to Hyperliquid is structured so that “Paxos only wins if Hyperliquid wins,” meaning its revenue share from the USDH stablecoin only begins after reaching significant growth milestones, and all revenue from USDH will be reinvested into growing Hyperliquid and its ecosystem until it reaches a TVL of US$1 billion. Beyond a TVL of US$5 billion, Paxos will cap its revenue share at 5 percent.

Cboe to launch long-term BTC and ETH futures

Cboe Global Markets announced on Wednesday that it plans to launch 10 year continuous futures contracts for Bitcoin and Ether from November 10, 2025, pending regulatory approval.

Traditional futures contracts have short durations and expire regularly, requiring traders to roll their positions into new contracts, which can be complex and costly. Cboe’s proposed product means investors will be able to hold a position in Bitcoin or Ether futures for up to 10 years, offering a new way for investors to gain or manage long-term exposure.

These contracts are cash settled and priced in alignment with the real-time spot prices of Bitcoin and Ethereum, and will use a daily funding rate adjustment to keep the futures price closely tied to the underlying crypto price, functioning similarly to popular perpetual futures in decentralized finance markets.

This launch marks Cboe’s expansion into offering perpetual-style crypto futures under US regulation.

India leans away from sweeping crypto regulation

India is signaling it will avoid a full-scale regulatory framework for cryptocurrencies, according to a government paper reviewed by Reuters. The document reiterates the Reserve Bank of India’s view that regulating digital assets could unintentionally confer legitimacy and increase risks to the broader financial system.

Instead, officials are leaning toward limited oversight, wary of speculative trading and systemic contagion.

This stance comes as other major economies, including Japan and Australia, advance regulatory regimes while China keeps its outright ban in place. US developments, including federal recognition of stablecoins, have added pressure on India to clarify its position, but policymakers remain cautious. Attempts to ban private cryptocurrencies in 2021 stalled, and a planned 2024 discussion paper was shelved pending international consensus.

For now, India is prioritizing containment over expansion, even as Bitcoin prices and global adoption hit record highs.

Rapyd launches stablecoin payment suite

Fintech platform Rapyd has introduced its Stablecoin Payment Solutions, giving businesses the ability to accept, settle and pay out using stablecoins through one integrated system. The offering is pitched as an answer to fragmented global money movement, consolidating what has often required multiple providers into a single platform.

Rapyd aims to tap over US$27 trillion in stablecoin transaction volume recorded across blockchains this year.

The platform enables real-time payouts, treasury management and currency conversion, potentially easing reliance on traditional rails like SWIFT. Executives at the company say the new service is aimed at industries ranging from gaming to global e-commerce, where speed and liquidity are critical.

As both US and European regulators formalize rules under the GENIUS Act and MiCA, Rapyd is betting that its unified approach can help enterprises cut costs and streamline cross-border operations.

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

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

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Rio Silver arranges $1.3M private placement

Vancouver, British Columbia September 11, 2025 Rio Silver Inc. (‘Rio Silver’ or the ‘Company’) (TSX.V: RYO,OTC:RYOOD) (OTC: RYOOF) announces private placement of units. Rio Silver Inc. has arranged a non-brokered private placement financing of up to 13 million units at $0.10 per unit for gross proceeds of up to $1.3-million.

Each unit consists of one common share and one transferable warrant. Each whole warrant is exercisable into one common share at 15 cents per share for three years from closing. If, following the final closing date of the private placement, the company’s common shares close at or above 25 cents on the TSX Venture Exchange (or such other exchange on which the shares may trade) for 15 consecutive trading days, the company may accelerate the warrant expiry date by issuing a news release. The warrants would then expire 30 days from the date of that notice.

The private placements may be closed in one or more tranches subject to conditional approval from the TSX-V.

Subject to compliance with applicable laws and TSX-V approval, the company may pay a finder’s fee or commission of up to 8 per cent and issue 8% brokers warrants to persons who assist in the introduction of investors to the company, which without limiting the foregoing may include cash, common shares and warrants, or a combination thereof.

The gross proceeds from the issue and sale of the units, excluding warrant proceeds, will be used for exploration and development of the company’s projects in Peru and for general working capital purposes.

About Rio Silver

Rio Silver is a resource development company that has been selectively identifying and acquiring precious metal assets that are anticipated to produce near term cashflow to best assist the Company’s exploration / development plans, in a non-dilutive, shareholder-friendly way. We remain ever impressed and optimistic by the resilience and ingenuity of our host country as Peru continues to endorse supportive mining policies and continued growth, as evident by the continuing investment being witnessed throughout Peru.

ON BEHALF OF THE BOARD OF DIRECTORS OF Rio Silver INC.

Chris Verrico

Director, President and Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

For further information,

Christopher Verrico, President, CEO

Tel: (604) 762-4448

Email: chris.verrico@riosilverinc.com

Website: www.riosilverinc.com

This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required by applicable laws.

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Locksley Resources Adds 249 Additional Claims to Landholding of More than 40 sq km of Highly Prospective Critical Minerals Ground in California’s Mojave Region

Brings Company’s Total Claims to 491 in Area Housing the Only Rare Earths Producing Mine in U.S.

Move Expands Locksley’s Exploration Pipeline Across Antimony, Rare Earths Elements and Polymetallic Prospects

Locksley Resources Limited (ASX: LKY,OTC:LKYRF; OTCQB: LKYRF), announced it has significantly expanded its strategic footprint within the Mojave Critical Minerals Corridor in California through the staking of an additional 249 claims. This brings the company’s total landholding to 491 claims.

The new claims are adjacent to Locksley’s existing tenement position and adjoin MP Materials landholding, which includes the Mountain Pass Rare Earth Mine. The new claims also secure additional acreage for Locksley in that they abut the recently identified antimony, rare earths elements (REEs) and polymetallic mineralization reported by the company.

‘These additional claims significantly strengthen Locksley’s competitive positioning within one of the most prospective critical minerals regions in the U.S.,’ said Nathan Lude , Head of Strategy, Capital Markets and Commercialization for the company. ‘With demand for antimony and REEs underpinned by U.S. supply chain security initiatives, the expanded landholding provides Locksley with a broader platform to advance multiple exploration and development opportunities,’ he noted.

The south-east claims encompass the favorable gneissic geology, which hosts the Mountain Pass mine and carbonatites. ‘Significantly there are substantial regional north to north-west striking structures evident in the magnetic geophysics datasets,’ said Julian Woodcock , Locksley’s technical director. ‘These transgress across the areas staked, which conceptually have the potential to host pathways for REE bearing carbonatites and be related to other styles of mineralization,’ he said.

Woodcock added that the Northern claims are 3km directly along strike from Dateline Resources Colosseum Gold Project. ‘In addition, the USGS geochemical database indicates polymetallic and precious metals occurrences in the area immediately adjoining the new northern claims. As such there are multiple commodity opportunities evident within this claim area.’

Lude added, ‘Importantly, several of the new claims directly adjoin the Mountain Pass larger claim package, underlining the strategic significance of Locksley’s footprint within the corridor. This positioning enhances potential for both exploration discovery and long-term commercialization pathways, including downstream processing partnerships in line with U.S. government priorities for supply chain resilience.’

More information on this can be found at https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02992119-6A1283295&v=c2533a54e2514fb77a8f93f84db686e1125273e9 .

Locksley Resources is an Australian-based explorer focused on critical minerals and base metals, with assets in both the U.S. and Australia . The company is actively advancing its U.S. asset, the Mojave Project, in California , targeting rare earth elements (REEs) and antimony. The company has also announced a strategic collaboration with Rice University to develop DeepSolv, for domestic processing of North American antimony. The agreement is the first step in the initiation of Locksley’s U.S. Critical Minerals and Energy Resilience Strategy to accelerate ‘mine-to-market’ deployment of antimony in the U.S.

Contact: Beverly Jedynak , Beverly.jedynak@viriathus.com , 312-943-1123; 773-350-5793 (cell)

View original content: https://www.prnewswire.com/news-releases/locksley-resources-adds-249-additional-claims-to-landholding-of-more-than-40-sq-km-of-highly-prospective-critical-minerals-ground-in-californias-mojave-region-302553290.html

SOURCE Locksley Resources

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WPIC: Platinum to Hit Third Annual Deficit as Supply Fails to Meet Demand

Platinum is heading for a third consecutive annual deficit in 2025, with the World Platinum Investment Council (WPIC) projecting an 850,000 ounce shortfall as demand continues to outpace weak mine supply.

In its latest Platinum Quarterly, the WPIC states that despite a 22 percent year-on-year decline in demand, a lack of metal is expected to create a supply shortfall that’s only 13 percent lower than 2024’s 968,000 ounce shortfall.

Its call comes amid a price breakout for platinum, which pushed past US$1,450 per ounce in July.

Why is the platinum market in deficit?

The biggest challenge for platinum has been weak refined production, which slipped to 1.45 million ounces during the quarter from 1.54 million ounces produced during the same time last year.

This has led the WPIC to predict a 6 percent decrease in primary supply to 5.43 million ounces, down from the 5.76 million ounces produced in 2024. Output declines in top producer South Africa have had outsized effects on supply, as Q1 output came in at just 713,000 ounces, as heavy rainfalls negatively impacted production.

Although output grew to 1.05 million ounces in the second quarter, it was still 8 percent lower than in Q2 2024.

Additional decreases to output are also expected in Zimbabwe and North America, slipping 4 percent and 26 percent, respectively. However, Russia is set to see a 1 percent rise in output, increasing to 686,000 ounces from 677,000 in 2024.

On a more positive note, recycling supply saw an increase to 423,000 ounces during Q2 from 379,000 reported in 2024. This has led the WPIC to predict a 6 percent annual increase to 1.6 million ounces from 1.52 million last year.

The majority of this increase comes from growth in automotive recycling, aided by higher platinum group basket prices. However, the WPIC notes that despite the growth, recycling will remain depressed compared to historic levels.

The WPIC predicts an overall supply decrease of 3 percent in 2025 to 7.03 million ounces, from 7.28 million ounces in 2024. With three years of deficits, the group is also expecting further drawdowns of above-ground stocks with a 22 percent decrease to 2.98 million ounces, representing four and a half months of demand coverage.

In recent years, stockpiles have fallen from 5.51 million ounces in 2022 to 4.8 million ounces in 2023 and 3.83 million ounces in 2024.

“I don’t think we’re going to see any meaningful mine supply response at these levels. It’s also worth bearing in mind that these are, for the most part, deep-level underground mines. So even if we had another 50 percent increase in the basket price, you’re still not going to see a supply response over the near to medium term,” he said.

Watch Sterck discuss the platinum market.

He went on to explain that development times for mining operations will take several years and wouldn’t be possible on time frames shorter than 18 months.

“Recycling is definitely much more price elastic than mine supply over the near to medium term,” Sterck said.

However, he added that while people tend to scrap vehicles at a consistent rate, the pace and overall supply entering the market from the auto sector is constrained.

“Yes, we’ve seen quite a big increase in the platinum price year to date, but it’s not the main driver of the economics for those scrap aggregators and recyclers. It’s really more of a palladium story, even more so than rhodium. So, you need a sustained increase in palladium prices to drive a meaningful change there,” Sterck said.

Demand to weaken in 2025, jewelry a bright spot

Despite the expected deficit, the WPIC expects demand to weaken this year.

Q2 saw automotive demand fall to 769,000 ounces, down from 788,000 ounces in the year-ago period.

The WPIC’s expectation is that the auto sector will require 3.03 million ounces of platinum in 2025, a 3 percent decrease from the 3.11 million ounces needed in 2024. Likewise, the council is expecting a decrease in industrial demand for the metal as consumption drops off by 22 percent to 1.9 million, down from 2.42 million ounces last year.

Jewelry demand, however, has been on the rise, with the expectation that it will increase by 11 percent to 2.23 million ounces in 2025. The WPIC suggests the higher growth is owed to its discount relative to gold, and notes that it is seeing the most substantial increase in China — fabrication is seen growing 42 percent in 2025 to 585,000 ounces.

“What’s driving that increase has been fabrication funded by wholesalers, and they’re promoting platinum because they’ve seen a huge drop in their gold jewelry sales,” Sterck explained.

Despite an increase in holdings of bars, coins and exchange-traded funds, overall investment demand was dragged down in Q2 by a 317,000 ounce decrease in stocks held in exchanges due to tariff-related concerns.

Sterck said ongoing uncertainty in the platinum market earlier this year caused physical metal to shift from overseas markets into the US as traders began to worry about tariffs being applied.

Although movement reversed as traders were told tariffs wouldn’t be applied, fears were later stoked when copper tariffs were announced, and an “ideological disconnect” between the White House and South Africa emerged.

“Given that the current US administration has shown that it is willing to use tariffs as a kind of stick, if you like, for enacting foreign policy, you kind of come back to this sort of whole situation where there’s a non-zero chance of platinum being subject to tariffs in the US,” Sterck commented during the conversation.

Overall, the WPIC expects total platinum demand to drop by 4 percent year-on-year in 2025 to 7.88 million ounces.

Will the platinum price rise further in 2025?

Fundamentals should remain the primary driver for platinum. Despite weakening demand through the first half of 2025, a structural deficit in the market still exists due to a lack of supply to close the gap.

However, Sterck suggested the mining supply is likely to increase before the end of the year.

“This year was particularly accentuated by flooding in South Africa during the first quarter of the year, so we do expect a bit of an increase in mining supply,” he said. However, he also noted that until there are more significant changes to the amount of supply, the price conditions aren’t likely to change much.

“Fundamentally, at the moment, it just appears that the platinum price at current levels isn’t sufficient to attract enough metal into the market to really ease those market conditions,” Sterck noted.

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

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Canada’s First Set of Nation-Building Projects Paves Way for Mining, Energy Operations

Canadian Prime Minister Mark Carney has announced the country’s first five nation-building projects.

In March and April, the Build Canada Strong platform was a cornerstone of Carney’s election campaign, which came amid increasing trade tensions between Canada and the US. Among his promises was to create a Major Projects Office (MPO) that would review projects deemed to be in the national interest.

That office was established over the summer, with a release saying it would be headquartered in Calgary and overseen by former TransAlta (TSX:TA,NYSE:TSE) and Trans Mountain CEO Dawn Farrell.

The MPO was created as part of a shift in the regulatory framework for approving infrastructure and resource projects in Canada. Part of that will involve streamlining reviews and assessments, as well as reducing duplication between the federal and provincial governments, an issue that has hindered investment in Canada over the last 20 years.

“One of many studies has shown that the regulatory requirements in Canada have increased by more than 40 percent since 2006 and that’s been suppressing investment growth by 9 percent,” Carney said on Thursday (September 11).

In his statement, the prime minister introduced the first tranche of projects, and suggested the second will be announced before the Canadian Football League’s Grey Cup match, scheduled for November 16.

He also outlined criteria for projects to be covered by the MPO. They must be in the national interest, and must strengthen Canada’s autonomy, resilience and security; they must also have clear benefits for Canadians.

The first group of projects selected by the MPO has already seen significant development.

The prime minister noted that they have already been through extensive consultation with Indigenous communities, and have worked with provincial and territorial governments to meet necessary regulatory standards.

For these, Carney said the goal is for the MPO to get them across the finish line.

“In some cases, they are in the last stages of regulatory approvals. In most cases, there is some aspect of the financing or support packages for the projects that remain to be determined,” he said.

Mining, energy projects highlighted in first tranche

Among the first five projects featured are three involving Canada’s mining and energy sectors:

        Additionally, the MPO has committed to supporting the Darlington New Nuclear Project in Clarington, Ontario. This project aims to develop the first small modular reactor in a G7 country.

        The MPO will also help speed up the expansion of the Contrecour Terminal container project at the Port of Montreal. This expansion is expected to boost shipping volumes along the St. Lawrence Seaway.

        A project that could be included in a future announcement is the Pathways Plus carbon capture project, which the prime minister said will eventually lead to further oil sands development and the construction of a pipeline to reach markets beyond the US. Additionally, Carney said the MPO is looking at upgrades to the Port of Churchill, as well as an Arctic economic and security corridor, a high-speed rail corridor between Toronto and Québec City and Wind West Atlantic Energy, which would provide wind power to the provinces on the Atlantic coast.

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

        This post appeared first on investingnews.com

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        Altech Batteries LtdCERENERGY Battery Prototype Reaches Key Milestones

        Perth, Australia (ABN Newswire) – Altech Batteries Limited (ASX:ATC,OTC:ALTHF) (FRA:A3Y) (OTCMKTS:ALTHF) is pleased to announce the latest performance results of the CERENERGY(R) cell and battery pack prototypes. These results confirm the technological maturity and robustness of the CERENERGY(R) technology and mark another decisive step towards industrialisation.

        Highlights

        – 650+ cycles with no capacity loss, proving exceptional material stability and long operational lifespan compared to conventional batteries

        – Near 100% Coulombic efficiency, confirming minimal side reactions and strong intrinsic safety of sodium nickel chloride chemistry

        – High energy efficiency of up to 92%, surpassing typical 70-80% levels of competing battery technologies

        – Proven safety under extreme conditions – cells remained stable during overcharge, deep discharge, and thermal cycling up to 300 degC with no gassing, leakage, or rupture

        – Robust and reliable chemistry – sodium nickel chloride avoids flammable electrolytes and runaway risks, confirming suitability for safe, large-scale grid and renewable energy storage

        – ABS60 prototype validated under real-world conditions -tested across diverse load profiles, high-current pulses up to 50 A, and thermal variations

        – Stable, efficient performance – achieved ~88% round-trip efficiency with no observable capacity fade over 110+ cycles

        CELL PERFORMANCE

        The CERENERGY(R) prototype cells have successfully completed over 650 charge-discharge cycles without any detectable capacity loss. Cycle life is a critical measure of battery durability, as most conventional batteries experience gradual degradation with every cycle. Achieving such performance highlights the outstanding stability of the materials and points to the potential for a long operational lifespan.

        For stationary energy storage systems (ESS), this translates into fewer battery replacements, lower lifetime operating costs, and greater reliability for end users.

        The cells also delivered nearly 100% Coulombic efficiency alongside an energy efficiency of up to 92% across 650 cycles. Coulombic efficiency reflects the proportion of charge recovered during discharge relative to what was supplied during charging. A value approaching 100% indicates minimal side reactions or parasitic losses, confirming the intrinsic stability and safety of sodium nickel chloride chemistry. This high efficiency demonstrates that the cells are not expending energy on unwanted processes such as electrode degradation. Such performance is vital for scalability, ensuring reliable, longterm operation in commercial energy storage applications.

        Energy efficiency represents the proportion of energy delivered relative to the energy supplied. Competing technologies, including conventional high-temperature batteries and many flow batteries, typically achieve only around 70-80%. By reaching 92%, CERENERGY(R) positions itself in a highly competitive class, offering more cost-effective energy storage, stronger economics for grid operators, and seamless compatibility with the requirements of renewable energy integration.

        The cells achieved a nominal capacity of 100 Ah and 250 Wh, with reliable performance even at higher discharge rates. A key feature is their ability to support multiple daily charge-discharge cycles within the 20-80% state of charge (SoC) range at 25 A. This capability positions CERENERGY(R) as a highly flexible solution for grid operators and energy storage providers, enabling cost-efficient, long-life performance in applications that demand frequent cycling such as renewable integration, peak shaving, and backup power.

        CERENERGY(R) prototype cells underwent rigorous abuse testing, including overcharge to 4 V, deep discharge to 0.2 V, and thermal cycling between room temperature and 300 degC. In all cases, the cells remained stable with no gassing, leakage, or rupture -clear proof of their outstanding safety. These results highlight the intrinsic stability of sodium nickel chloride chemistry, which avoids the flammable electrolytes and runaway risks common in lithium-ion batteries. The ability to withstand extreme electrical and thermal stress demonstrates CERENERGY(R)’s robustness and confirms its suitability for safe, largescale deployment in grid, renewable, and industrial energy storage applications. This was achieved over 3 cycles with 1.8 Full Charge Equivalent (FCE) into 22 hours.

        BATTERY PACK ABS60 (60 kWh) PROTOTYPE

        The first ABS60 battery pack prototype has been successfully validated under real-world operating conditions, marking a major step forward in product readiness. Testing included diverse load profiles,

        continuous discharges at 25 A (equivalent to C-rate of C/4 (discharges in 4 hours), or one-quarter of the pack’s rated capacity per hour) at 80% depth of discharge (DoD), short-duration high-current pulses up to 50 A, and carefully controlled thermal variations.

        The pack consistently demonstrated stable performance, achieving ~88% round-trip efficiency while maintaining reliable thermal management. Efficiency refers to the proportion of input energy that can be retrieved during operation-a critical measure of economic viability for large-scale storage. Over more than 110 cycles, results showed no observable capacity fading and only a slight increase in internal resistance. Capacity fading refers to the gradual decline in usable energy over repeated cycles, while internal resistance influences power delivery and heat generation.

        The absence of meaningful degradation confirms the durability and electrochemical stability of the ABS60 design. These outcomes are highly significant as they demonstrate that the pack can withstand real-world duty cycles while retaining performance and efficiency, translating into longer service life, fewer replacements, and lower total cost of ownership.

        For grid operators and renewable integration projects, this combination of robust cycling capability, efficiency, and thermal stability underscores the ABS60’s commercial readiness and competitive advantage in the stationary energy storage market.

        These results are a strong confirmation of CERENERGY(R)’s technological leadership and a clear signal of the technology’s competitiveness and robustness for future applications in energy storage and industrial markets.

        Group Managing Director, Iggy Tan said ‘These results confirm CERENERGY(R)’s robustness and readiness for market adoption. Demonstrating long cycle life, high efficiency, and unmatched safety, we are now strongly positioned to deliver a competitive and sustainable alternative for grid and industrial energy storage.’

        *To view photographs, tables and figures, please visit:
        https://abnnewswire.net/lnk/17QS44T3

        About Altech Batteries Ltd:

        Altech Batteries Limited (ASX:ATC,OTC:ALTHF) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS (‘Fraunhofer’) to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

        The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech’s land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

        Source:
        Altech Batteries Ltd

        Contact:
        Corporate
        Iggy Tan
        Managing Director
        Altech Batteries Limited
        Tel: +61-8-6168-1555
        Email: info@altechgroup.com

        Martin Stein
        Chief Financial Officer
        Altech Batteries Limited
        Tel: +61-8-6168-1555
        Email: info@altechgroup.com

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        Trump administration ramps up pressure on Labor Department with data probe

        The Labor Department has announced an inquiry into the Bureau of Labor Statistics over recent changes to its data practices.

        In a letter published Wednesday, the office of the inspector general for the Labor Department cited the BLS’ recent decision to reduce data collection activities for two key inflation reports, as well as the large downward revision in employment estimates it announced Tuesday. It said it is reviewing the ‘challenges’ the agency has faced ‘in collecting and reporting closely watched economic data.’

        The probe comes one month after President Donald Trump fired the head of the BLS as part of a broader pressure campaign that critics say has risked politicizing a part of the government that has long played a crucial role in the business world. The BLS, which is tasked with collecting data on economic indicators such as jobs and inflation, had generally been left alone by previous administrations.

        But Trump began zeroing in on the BLS as his frustrations with the Federal Reserve mounted, coinciding with economic numbers that started to warn about a broader U.S. slowdown.

        Since then, the labor market has slowed considerably. Just before the head of the BLS was fired, the department released a weaker-than-expected jobs report, citing claims of data manipulation that critics say are unfounded.

        Federal Reserve Chair Jerome Powell, another frequent target of Trump’s, has said Fed policymakers are ‘getting the data that we need to do our jobs’ and stressed the importance of the federal statistical agencies.

        ‘The government data is really the gold standard in data,’ he added. ‘We need it to be good and to be able to rely on it.’

        Trump then nominated E.J. Antoni, an economist with the far-right Heritage Foundation, as the new head of the BLS, a move many economists have criticized.

        Trump and other BLS critics have focused on the department’s revisions to its reports, a practice that dates back decades and has been generally seen as a necessary part of the challenge of collecting near-term economic data. It has also faced other challenges in data collection, including budget challenges and low response rates to its collection efforts.

        The BLS previously said the decision to reduce inflation data surveys was necessary given existing budget constraints. Meanwhile, mainstream economists say the latest downward revisions — while large — are part of a routine annual process known as benchmarking.

        While response rates to the bureau’s surveys have been declining, researchers recently found that revisions and falling response rates did not reduce the reliability of the jobs and inflation reports.

        This post appeared first on NBC NEWS

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