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Copper prices surged past US$10,000 per metric ton on Thursday (March 20), hitting a five month high as traders scrambled to secure supply ahead of potential US tariffs on the base metal.

London Metal Exchange (LME) copper futures climbed sharply in early trading, reflecting a combination of supply constraints, rising demand and uncertainty surrounding trade policy.

US President Donald Trump has ordered a probe into the national security implications of copper imports, raising concerns that a 25 percent tariff could be imposed, similar to levies already placed on aluminum and steel.

The potential for such tariffs has triggered a wave of preemptive buying, particularly in the US, where traders are paying record premiums to acquire copper before any duties take effect. The spread between New York Comex futures and the LME price widened to more than US$1,254 this week, exceeding February’s high of US$1,149.

Tariff threat complicating copper trade

If the US imposes a 25 percent tariff on copper imports, analysts say the price gap between Comex and LME copper could widen even further, potentially surpassing US$2,000.

StoneX analyst Natalie Scott-Gray told the Financial Times that this would further distort global copper trade, creating strong incentives for suppliers to shift even more metal to the US market.

Wei Lai, deputy trading head at Zijin Mining Investment Shanghai, told Bloomberg that “a round of cross-regional repricing triggered by potential US tariffs’ is unfolding. The rush to divert supply to the US is leaving other regions short of the metal, while also boosting investor confidence in copper as a lucrative commodity.

Beyond tariffs, the copper market is facing broader supply-side challenges. Processing fees for copper smelters have reached historic lows, raising concerns about the long-term viability of some refining operations. An oversupply of smelting capacity — particularly in China — has made it difficult for copper smelters to maintain profitability.

Commodities trading giant Glencore (LSE:GLEN,OTC Pink:GLCNF) recently announced it would halt operations at its Philippine copper smelter, citing “increasingly challenging market conditions” as processing fees collapsed.

More smelters could shut down if the situation persists, further tightening copper supply and boosting prices.

While trade policy is a key factor driving copper’s price surge, broader macroeconomic trends are also playing a role. Expectations of rising demand from Germany’s major infrastructure and military spending initiatives, as well as stimulus measures in China, are supporting bullish sentiment for the metal. Furthermore, some investors are diversifying away from US tech stocks, shifting funds into gold and industrial metals as a hedge against economic volatility.

During the recent Prospectors & Developers Association of Canada convention, Adrian Day, president of Adrian Day Asset Management, explained why US tariffs on copper imports would be a bad idea.

‘Logically, if you’re worried that we need a lot of copper in the US and we’re not producing enough, the last thing you want to do is put tariffs on shipments from abroad,’ Day explained. ‘I suspect, that the people making a recommendation will recommend no tariffs, and they’ll recommend encouraging domestic production, and so on.’

Rising copper prices boost China’s Zijin

The positive impact of higher copper prices is already being felt across the mining sector.

Zijin Mining Group (OTC Pink:ZIJMF,SHA:601899), China’s largest metals producer, reported a 52 percent jump in profit last year, driven by increased output and soaring prices for copper and gold. The company posted net income of 32.1 billion yuan (US$4.4 billion), with revenue climbing 3.5 percent to 303.6 billion yuan.

Despite these gains, Zijin recently lowered its copper output target for 2025 by about 6 percent to 1.15 million metric tons, citing regulatory hurdles and geopolitical challenges that have slowed its overseas expansion. Resistance to Chinese acquisitions in western markets has also played a role in the company’s revised projections.

Market waits for copper probe results

For now, the outlook for copper is uncertain as traders await the results of the US tariff investigation.

While final recommendations are unlikely to come until later this year, major investment banks, including Goldman Sachs (NYSE:GS) and Citigroup (NYSE:C), expect 25 percent import duties on copper by the end of 2025.

In the meantime, copper prices are likely to remain volatile.

As of midday Thursday (March 19), LME copper was trading just below US$10,000, with other base metals showing mixed performance. Aluminum remained slightly higher, while nickel remained steady.

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

This post appeared first on investingnews.com

The big news of the week came on Wednesday (March 19) when the US Federal Reserve’s Federal Open Market Committee (FOMC) convened for its March decision on whether to adjust its benchmark Federal Funds rate.

Given the economic uncertainty surrounding US President Donald Trump’s economic and trade policies, it has been widely expected that the FOMC would maintain the rate at 4.25 to 4.5 percent, which is what they did.

In his press statements, Fed Chairman Jerome Powell said inflationary numbers were somewhat stuck, citing tariffs raising consumer prices as a reason for the stagnant figures. However, he also indicated that the committee believed the effect would be largely transitory and that data showed the economy was strong and job markets were balanced. Because of this, he expects that the FOMC will still make two rate cuts in 2025 as previously planned.

Sticky inflation isn’t limited to the United States. North of the border, Statistics Canada reported on Tuesday (March 18) that the consumer price index ticked up to 2.6 percent in February, versus a more modest 1.9 percent increase in January.

The agency cited the end of the tax holiday implemented by the federal government in December as the primary source of the rise, as tax is included in CPI data. It also indicated the rise was moderated by slower price increases in gasoline.

Newly sworn-in Canadian Prime Minister Mark Carney, who replaced former Prime Minister Justin Trudeau, is expected to dissolve parliament this Sunday (March 23) and announce an election for April 28 or May 5. The election would occur amid a growing trade war between the US and Canada and shortly after a new round of global tariffs from the US is set to take effect on April 2.

For his part, Carney met with the premiers on Friday (March 21) to discuss opening up trade between the provinces and working to create a more unified Canadian economy. Currently, trade between provinces faces restrictions on many goods, from natural resources to alcohol and dairy products.

Markets and commodities react

In Canada, markets were largely positive this week. The S&P/TSX Venture Composite Index (INDEXTSI:JX) gained 2.57 percent during the week to close at 637.79 on Friday (March 14), the S&P/TSX Composite Index (INDEXTSI:OSPTX) was up 1.7 percent to 24,968.49 and the CSE Composite Index (CSE:CSECOMP) dropped 0.4 percent to 123.20.

After seeing sharp declines in recent weeks, US equity markets were up slightly this week. The S&P 500 (INDEXSP:INX) gained 0.6 percent to close the week at 5,667.57 and the Nasdaq 100 (INDEXNASDAQ:NDX) rose 0.42 percent to 19,753.97. The Dow Jones Industrial Average (INDEXDJX:.DJI) saw the largest gains adding 1.27 percent to 41,985.36.

Gold held above the US$3,000 mark this week and set a new all time high at US$3,053 following the Fed’s rate announcement. Overall, the gold price gained 1.23 percent over the week to US$3,021.85 per ounce at 4:00 p.m. EDT Friday. The silver price went the opposite direction, losing 2.35 percent during the period to US$33.03.

In base metals, the copper price broke through US$5 per pound this week, gaining 4.69 percent to close out Friday at US$5.12 per pound on the COMEX. Meanwhile, the S&P GSCI (INDEXSP:SPGSCI) was up 1.18 percent to close at 558.21.

Top Canadian mining stocks this week

So how did mining stocks perform against this backdrop? We break down this week’s five best-performing Canadian mining stocks below.

Data for this article was retrieved at 4:00 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered.

1. BCM Resources (TSXV:B)

Company Profile

Weekly gain: 136.36 percent
Market cap: C$12.99 million
Share price: C$0.13

BCM Resources is an exploration company working to advance its flagship Thompson Knolls project in Utah, United States.

The greenfield copper, molybdenum, gold, and silver project in Utah’s Great Basin consists of 225 federal unpatented lode mining claims and two state section leases covering an area of 2,242 hectares.

Exploration of the project area began in the 1970s, when a US Geological Survey aerial survey identified a prominent magnetic anomaly. In the 1990s, follow-up work was conducted at the target.

BCM carried out its last drill program at the property in 2023. At the time, the company announced that one drill hole encountered a significant mineral intercept of 0.66 percent copper, 0.12 grams per metric ton (g/t) gold and 7.4 g/t silver over 155.4 meters starting at a depth of 621.8 meters. The sample also contained eight intervals with greater than 1 percent copper over 24.3 meters.

The company received approval from the Bureau of Land Management for a plan of operation to continue drilling at the project. In a July 2024 update, the company released data from an analysis of the project’s porphyry-skarn system by the Colorado School of Mines, which it plans to use to prepare for the drilling at the site.

Although the company did not release news this week, shares were up alongside a surging copper price.

2. KWG Resources (CSE:CACR)

Company Profile

Weekly gain: 100 percent
Market cap: C$31.99 million
Share price: C$0.03

KWG Resources is a chromite and base metals exploration company focused on moving forward at its Ring of Fire assets in Northern Ontario, Canada. It does business as the Canadian Chrome Company.

The firm’s properties consist of the Fancamp and Big Daddy claims, along with the Mcfaulds Lake, Koper Lake and Fishtrap Lake projects. All are located within a 40 kilometer radius, and according to the company are home to feeder magma chambers containing chromite, nickel and copper deposits.

KWG is currently working with local First Nations to improve transportation to the region through the development of road and rail links. The company announced on November 7 that it had signed a memorandum of agreement with AtkinsRealis Canada in its capacity as a contractor representing the Marten Falls and Webequie First Nations.

The agreement will allow AtkinsRealis temporary access rights over some mineral exploration claims in support of work permits for an environmental assessment for the design, construction and operation of a multi-use, all-season road between the proposed Marten Falls community access road and the proposed Webequie supply road.

Once completed, the link will provide improved access to communities and mining companies in the region.

KWG released a pair of news releases this week. On Tuesday, the company announced the closing of the second tranche of a private placement; the company raised gross aggregate proceeds of C$422,614.32 between the two rounds. It followed the news on Friday with the announcement of a proposed private placement for proceeds of up to C$5 million.

3. Sterling Metals (TSXV:SAG)

Company Profile

Weekly gain: 60 percent
Market cap: C$33.97 million
Share price: C$0.08

Sterling Metals is an exploration company working to advance a trio of projects in Canada.

Over the past year, its primary focus has been on exploration at its brownfield Copper Road project in Ontario. The 25,000 hectare property has hosted two past-producing copper mines and has the potential for larger intrusion-related copper mineralization.

On January 15, Sterling announced results from a 3D induced polarization and resistivity survey that covered an area of 5 kilometers by 3 kilometers and revealed multiple high-priority drill-ready targets.

The company intends to use the survey results, along with historical exploration, to inform a drill program at the site.

The company’s other two projects consist of Adeline, a 297 square kilometer district-scale property with sediment-hosted copper and silver mineralization along 44 kilometers of the strike, and Sail Pond, a silver, copper, lead and zinc project that hosts a 16 kilometer long linear soil anomaly and has seen 16,000 meters of drilling. Both properties are located in Newfoundland and Labrador.

The most recent news came on Monday (March 17), when Sterling announced it had upsized its private placement for the second time. The expanded round will see gross proceeds of up to C$1.6 million.

4. Star Diamond (TSXV:DIAM)

Company Profile

Weekly gain: 60 percent
Market cap: C$33.97 million
Share price: C$0.08

Star Diamond is an exploration and development company working to advance its flagship Fort à la Corne diamond district in Saskatchewan, Canada.

The property is located 60 kilometers east of Prince Albert, Saskatchewan. Previously a joint venture with Rio Tinto, Star Diamond acquired Rio Tinto’s stake in the project in March 2024 in exchange for 119.32 million shares in Star Diamond, resulting in Rio Tinto holding a 19.9 percent ownership position in the diamond junior.

Fort à la Corne has seen extensive exploration of kimberlite deposits, including geophysical surveys, large-diameter drilling and micro- and macro-diamond analyses.

The Star-Orion South diamond project, the most advanced project area in Star Diamonds’ portfolio, is located within the district.

In 2018, the company released a PEA for Star-Orion South, which reported a resource of 27.15 million carats of diamonds from 200.16 million metric tons with an average grade of 14 carats per 100 metric tons. The inferred resource is 5.18 million carats from 72.08 million metric tons, with an average grade of 7 carats per 100 metric tons.

At the time, the company estimated a post-tax NPV of C$2 billion, an IRR of 19 percent and a payback period of 3 years and 5 months.

On January 9, Star Diamond announced that a 70.7 million share block held by a former project partner had been sold, with 61.12 million shares purchased by an international investor interested in diamonds.

The company’s most recent news came on February 27, when it announced that it had closed the second tranche of its private placement for gross proceeds of C$230,000, adding to the C$335,000 from the first tranche it closed on February 18. The funds will be used as working capital. According to the announcement, Star Diamond is discussing funding for a pre-feasibility study with potential investors.

5. Cordoba Minerals (TSXV:CDB)

Company Profile

Weekly gain: 58.62 percent
Market cap: C$35.01 million
Share price: C$0.46

Cordoba Minerals is an exploration company working to advance its flagship Alacran project in Colombia.

The 20,000 hectare property hosts copper, gold and silver mineralization across five deposits: Alacran, Alacran North, Montiel East, Montiel West and Costa Azul. The project is a 50/50 joint venture with JCHX Mining Management (SHA:603979).

A feasibility study for the project released in February 2024 demonstrated an after-tax net present value of US$360 million with an internal rate of return of 23.8 percent and a payback period of three years.

The mineral resource estimate for the Alacran deposit and historical tailings reported an indicated resource of 99.46 million metric tons of ore with an average grade of 0.41 percent copper, 0.24 g/t gold and 2.65 g/t silver. Contained metal totals 904.53 million pounds of copper, 765,400 ounces of gold and 8.47 million ounces of silver.

The company’s most recent news came on January 10, when it reported that it had closed a US$10 million bridge financing deal with JCHX.

FAQs for Canadian mining stocks

What is the difference between the TSX and TSXV?

The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

How many companies are listed on the TSXV?

As of June 2024, there were 1,630 companies listed on the TSXV, 925 of which were mining companies. Comparatively, the TSX was home to 1,806 companies, with 188 of those being mining companies.

Together the TSX and TSXV host around 40 percent of the world’s public mining companies.

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

Article by Dean Belder; FAQs by Lauren Kelly.

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

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

This post appeared first on investingnews.com

Violent clashes erupted across several cities in Turkey between opposition supporters and state security forces for a second day, as demonstrators demand the release of Istanbul Mayor Ekrem Imamoglu, according to videos and reports from Turkish media outlets.

Police in capital city Ankara and Istanbul fired tear gas and used water cannons to disperse protesters gathering, social media videos and local media outlets in Turkey showed.

Turkish authorities detained Imamoglu – a key political rival to President Recep Tayyip Erdogan – on Wednesday, as part of corruption and terrorism investigations. Detention orders were also issued for about 100 others connected to the mayor, including his press adviser Murat Ongun, according to state-run news agency Anadolu Agency on Wednesday.

Friday’s protests follow several violent instances on Thursday. At least 16 police officers were injured during clashes with protesters across Turkey on Thursday, according to Turkish Interior Minister Ali Yerlikaya, and at least 53 people were detained. It’s unclear how many protesters were injured during the ongoing protests.

On Thursday, the main opposition Republican People’s Party (CHP) leader, Ozgur Ozel, addressed crowds in Istanbul while on a bus rooftop. “We will not stay home while you keep our elected representative locked up. From now on we are on the streets. They are asking me ‘Are you calling people to take the streets?’ Yes, yes, yes!” Ozel said.

Erdogan has dismissed opposition anger as “theatrics” and “slogans” for which Turkey has no time.

Thousands again protested outside the Istanbul municipality building on Friday, defying a four-day ban on street gatherings in the city, waving Turkish flags and chanting slogans in protest over the decision. Protests led by university students also gathered steam in Ankara and Izmir, where the prohibition is also in effect.

Imamoglu was elected mayor in 2019 and again in 2024. The next presidential vote is scheduled for 2028, but some analysts say Erdogan could call for early elections, which would allow him to bypass term limits.

This post appeared first on cnn.com

Russia and Ukraine traded blame on Friday over an attack on a gas metering station that lies in Russia’s Kursk region, just a few hundred meters from their shared border.

The attack on the facility in Sudzha comes just days after the US proposed both sides pause attacks on energy infrastructure.

The Russian Defense Ministry claimed Kyiv had “deliberately attacked” the station, which has been under Ukrainian control since Ukraine launched a surprise incursion into Kursk in August 2024.

Moscow claims Ukrainian forces blew up the facility while “retreating from the Kursk region” with the aim of “discrediting the US president’s peace initiatives.”

Kyiv has described those accusations as “groundless” and claimed they are aimed at discrediting Ukraine and misleading the international community.

“Indeed, the station has been repeatedly shelled by the Russians themselves,” Ukraine’s General Staff said in a Telegram post on Friday.

According to the Ukrainian military, Russia struck the same station with missiles as recently as three days ago.

“The attempts by the Russians to deceive everyone and pretend that they are adhering to the ceasefire will not work, (neither) will the fake news about the strikes on the gas station,” Ukraine’s Presidential Chief of Staff Andriy Yermak posted on X Friday.

The Sudzha gas metering station was the last route through which Russian natural gas was delivered to Europe through Ukraine. Natural gas transportation through Sudzha was terminated on the morning of January 1, 2025, after Kyiv refused to renew the contract.

The attack on the station comes more than a week after the announcement by Russian forces that they had recaptured Sudzha, the largest town that Ukraine has occupied during its incursion into Kursk. Ukraine’s occupation of parts of Kursk is seen as its sole territorial bargaining chip amid pressure to negotiate an end to the war.

Russian President Vladimir Putin agreed to temporarily halt attacks on energy targets in Ukraine after a lengthy telephone call with President Donald Trump on Tuesday, though he stopped short of signing off on a broader ceasefire to end the three-year-long conflict in Ukraine.

On Wednesday Ukrainian President Volodymyr Zelensky said he would support a pause on striking energy targets after his phone call with Trump.

This post appeared first on cnn.com

Self-proclaimed misogynist Andrew Tate is back in Romania along with his brother Tristan to report to the police, following a trip to Florida that triggered a state-level criminal probe.

The online celebrity, who has amassed a massive following peddling sexist content about male dominance, is facing charges over human trafficking and forming an organized criminal group with his brother in Romania. They have denied all wrongdoing.

The pair, both dual British and American citizens, left Romania late last month after prosecutors lifted a travel ban on them. They flew to Florida, only to find themselves subject to a new criminal investigation by state authorities there.

They spoke to reporters Saturday after returning to Romania.

“We’re here to clear our names and exonerate ourselves,” Andrew Tate said, speaking outside his house in Bucharest.

“After all we’ve been through, we truly deserve the day in court where it is stated that we’ve done nothing wrong and that we should never be in court in the first place.”

He referred to allegations against them as “garbage.”

The Tates are required to regularly check in with police. Their next check-in is due on March 24, according to Reuters.

Earlier Friday, Andrew Tate posted a picture of the pair on the flight, saying: “Innocent men don’t run. THEY CLEAR THEIR NAME IN COURT.”

“Spending 185,000 dollars on a private jet across the Atlantic to sign one single piece of paper in Romania,” he wrote.

Romanian authorities arrested the brothers in December 2022 and placed them under police custody. They were later placed under house arrest.

Prosecutors in Romania accused them of forming an organized criminal group that stretched across the country, as well as the United Kingdom and the US, trafficking women and sexually exploiting them with physical violence and coercion.

Andrew Tate is also accused of raping one of the alleged victims. Separately, the two faced an investigation into allegations of human trafficking of minors and sex with a minor lodged against the brothers.

Andrew and Tristan Tate have denied all allegations of wrongdoing, with Andrew writing on X that the brothers “have always been innocent.”

Days after they arrived in Florida late last month, Florida Attorney General James Uthmeier announced an active criminal investigation into the brothers, led by the Office of Statewide Prosecution. Florida has “zero tolerance for people who abuse women and girls,” he added.

The brothers’ defense attorney accused Uthmeier of throwing “ethics law out of the window.”

The brothers are also being investigated for allegations of rape and human trafficking in the UK, where they have also denied wrongdoing.

Andrew Tate also faces a civil suit there by four women, accusing him of rape and coercive control.

This post appeared first on cnn.com

US President Donald Trump said he thinks Vladimir Putin wants peace. Ukraine and its European allies don’t believe he does, while the Russian leader himself said he wants peace but then refused to sign up to it when presented with the option.

What Putin really wants, though, is much, much bigger.

The Russian president has made no secret of the fact that he believes Ukraine should not exist as an independent state and he has repeatedly said he wants NATO to shrink back to its Cold War-era size.

But more than anything, he wants to see a new global order — and he wants Russia to play the starring role in it.

Putin and several of his most trusted allies emerged from the remnants of the KGB, the Soviet-era intelligence agency. They have never forgotten the humiliation of the fall of the Soviet Union and are not happy with the way the world has turned out since then.

Putin rose to power during the chaos of the 1990s, when the Russian economy collapsed and had to be rescued by the International Monetary Fund and the World Bank – another humiliation for the former superpower.

But from 2000, when Putin became president, steadily rising oil prices made Russia and many Russians richer than ever before. And Russia had a voice. It was invited into the G7 group of the world’s largest economies – renamed the G8 after it joined.

“Putin was happy to throw all that away on behalf of his citizens because of higher geopolitical aims,” Berzina said. Russia was expelled from the G8, sanctioned by the West and ostracized on the global stage because of its aggression against Ukraine.

Berzina said it was never good enough for Russia to be “the eighth in the G7.”

“That doesn’t work within Russia’s understanding of its own exceptionalism. It is the largest country in the world, the richest in (natural) resources, so how can it simply be one of the players?” she said.

To understand what Putin wants from the current talks with the US, it’s key to remember that the two sides are talking because the United States made a policy U-turn under Trump — not because of a fundamental change in Russian thinking.

Trump wants the war in Ukraine to end as soon as possible, even if it means further territorial losses for Ukraine.

This means Putin has little to lose from talking.

Trump has claimed that “Russia holds all the cards” in the war with Ukraine, but the battlefield has been mostly stalled for the past two years.

While Russia is making some incremental gains, it is definitely not winning – though this could change if the US was to stop supplying arms and intelligence to Ukraine.

For Putin and the people around him, Trump’s push for a ceasefire simply presents an opportunity to secure quick wins while keeping an eye on the long-term goals, he said.

“Putin is an opportunist. He likes creating dynamic, chaotic situations, which throw up a whole variety of opportunities. And then he can then just pick which opportunity appeals to him, and he can change his mind,” Galeotti said.

Long term plan

Putin and his aides have made it very clear that their long-term goals have not changed. Even as they talk about wanting peace, Russian officials have continued to insist that the “root causes” of the conflict in Ukraine must be “eliminated.”

In the Kremlin’s view, these “root causes” amount to Ukraine’s sovereignty and its democratically elected President Volodymyr Zelensky, as well as NATO’s expansion to the east in the past 30 years.

Putin ordered the full-scale invasion of Ukraine in February 2022 to force a regime change in Kyiv, planning to install a pro-Moscow government. His goal was to turn Ukraine into a vassal state like Belarus and prevent it from joining the European Union and NATO in the future.

He has not achieved that goal by using military force, but that doesn’t mean he has abandoned it.

Instead, he might try to achieve it by other means.

“The easiest way for Russia to attain what it wants in a different country is not through military means, but through interference and electoral process,” Berzina said, adding that it is possible – even likely – that this is what Moscow would try to do after a ceasefire was in place.

This is likely why Russia keeps questioning Zelensky’s legitimacy and pushing for an election – and why Kremlin was delighted when Trump adopted this narrative and called the Ukrainian leader “a dictator without elections.” Ukraine’s martial law – imposed because of Russia’s aggression – prohibits elections from taking place while the conflict is ongoing.

Trump and his vice president, JD Vance, have rejected the idea that Ukraine could join NATO any time soon and Putin has asked for a US commitment that this will not happen to be part of any ceasefire agreement.

But Berzina said that Ukraine’s European allies are not buying Putin’s promises that he would stop fighting if Ukraine became – as he called it – neutral.

“No matter what Trump and Putin think they can arrange this week or this year, many people in Europe now find Putin fundamentally untrustworthy,” she said.

“Could there be a desire for Russia to try its hand again militarily? Sure. And that is why the Europeans are very clear-eyed on the potential for future military engagement.”

It’s all personal

Andrei Soldatov, a Russian investigative journalist and security expert who lives in exile in London, said Putin and his aides believe they can “try to get something out of Trump right now.”

“They think they can win some tactical battles but that he would not give them what they really want, which is a complete rearrangement of security arrangements in Europe,” he said.

Russia’s wariness of the US goes far back.

“It’s very personal to them because they were all young KGB officers back then, and they lost their social standing, they lost a place in Russian society, they lost the country as they describe it now, and it was extremely humiliating,” Soldatov said.

“They really believe that the West has been after the complete destruction and subjugation of Russia for centuries. It’s not just propaganda, they really, really believe in this.” But Putin has also framed his plan for Ukraine within his own – inaccurate — interpretation of history, which goes well beyond the fall of the Soviet Union. Putin has often argued that Ukraine is not a real country because Ukraine and Ukrainians are part of a larger “historical Russia”

Experts say this is, of course, nonsense.

“What he’s talking about is the fact that Russia and Ukraine and Belarus share a political ancestor called Rus … but it’s very much not the same thing as any modern country. It was an early to late medieval political entity and to say that Ukraine doesn’t have a right to exist because of this shared ancestor — no country looks the same as in the 10th century,” said Monica White, an associate professor in Russian and Slavonic Studies at the University of Nottingham.

Putin has also often turned to Russia’s religious identity in support of his plan. The leader of the Russian Orthodox Church, Patriarch Kirill, is one of the loudest supporters of the war.

“After the fall of the Soviet Union, Russia lost its connection with the ancestral Orthodox lands and I think part of Putin’s project is to try to bring back that thread connecting 10th century Rus with this pure orthodox continuity,” White said. “What he’s doing is actually not so different from some of the early Romanov Tzars who kept trying to get back the Orthodox lands that were under either Ottoman or Catholic rule, and they eventually did.”

Putin’s overwhelming desire is to return Russia to the global stage with a bang, she suggests – by creating a wedge between Europe and the US and teaming up with the West’s other adversaries.

“Russia wants to be at all the important tables – so whatever comes next, maybe it doesn’t have to mean territorial conquest in Europe, but I think it does have to be in a starring role in the more powerful bloc, if it sees that to include China or Iran or others, a bloc that is defined by its willingness to disrupt and destabilize,” White added.

Putin clearly believes that Russia – the largest country in the world by area – should be involved in running the world. He might have a like-minded man in the White House. Trump has made it clear that he believes the biggest and most powerful countries should get what they want – whether it’s Greenland, the Panama Canal, or a chunk of Ukraine.

“I think that the fundamental point is that, as far as Trump is concerned, Ukraine is a bought and paid for vassal state and has to understand its place and accept that, essentially, America will work out some kind of a deal with Russia and then bring it back to Ukraine,” Galeotti said.

This post appeared first on cnn.com

Flights returned to normal at London’s Heathrow Airport on Saturday following a power outage and shutdown that sparked global travel chaos.

The first flights of the day took off as scheduled from 6 a.m. local time (2 a.m. ET), after authorities said operations at one of the world’s busiest airports would return to normal.

“Flights have resumed at Heathrow following yesterday’s power outage,” read a statement on Heathrow’s X account, adding that it apologized for the disruption.

The first three flights that left the tarmac were a TAP Air Portugal flight to Lisbon, an Austrian Airlines flight to Vienna, and a Swiss Airlines service to Zurich.

Some flights also took off Friday night as the west London airport, brought to a complete shutdown when fire engulfed a nearby electrical substation, partially reopened.

“We expect to be back in full operation, so 100% operation as a normal day,” Heathrow Airport CEO Thomas Woldbye had said late Friday.

But airlines have warned of delays for days to come, with aircraft and cabin crew having been diverted to different airports, posing deployment problems.

The UK flag carrier British Airways said it expects to operate at around 85% capacity on Saturday, despite normal service resuming at Heathrow.

“To recover an operation of our size after such a significant incident is extremely complex,” it said in a statement, warning customers about possible delays.

“This incident will have a substantial impact on our airline and customers for many days to come, with disruption to journeys expected over the coming days,” said chairman and CEO Sean Doyle.

British utility company National Grid said Saturday morning that power had been restored to “all customers connected to” the affected substation.

Heathrow was the world’s fourth-busiest airport in 2023, according to the most recent data. Last year, a record-breaking 83.9 million passengers passed through. Spread across four terminals, it usually runs at 99% capacity, with every major airline crossing the hub.

The substation blaze happened in the town of Hayes, just a few miles from the airport, which disrupted the local power supply, throwing more than 1,000 flights into disarray and forcing pilots to divert their journeys in midair.

The debacle also raised questions as to why such an important international transit hub appears to lack better contingency plans, including back-up electricity.

A Heathrow Airport spokesperson said “repatriation flights” for passengers diverted to other airports across Europe would be among the first to leave Friday.

Authorities have launched an investigation into the cause of the substation blaze. So far, there are no signs of foul play, according to police.

This post appeared first on cnn.com

You already know about diversification. You’ve set your investment goals, picked a benchmark, and decided on the weighting of your allocations. Now, it’s come down to selecting the assets—stocks or ETFs—to build your portfolio.

As a long-term investor with moderate risk tolerance, how might you build a portfolio to withstand market drawdowns and weather the business cycle?

There are many ways to do this. Here are a few ideas to consider.

S&P Sectors: How Are They Performing and Where Are They Going?

FIGURE 1. RRG CHARTS OF S&P SECTOR ETFS RELATIVE TO THE S&P 500. This image shows you the one-year progression of each sector, indicating the stage of leadership they might be headed.

If you’re looking to diversify by sector, it helps to know where each one has been, performance-wise, and toward what state of leadership they might be entering. Which stocks are Improving, Leading, Weakening, and Lagging?

This is where RRG Charts (specifically RRG S&P 500 Sector ETFs) come in handy. By giving you a dynamic view of sector movement over time, RRGs can help you time your entries to match your strategy—whether you want to buy strength or take a more contrarian approach and buy weakness.

You might also want to view sectors in terms of relative performance. PerfCharts are a useful way to see how each sector is performing against other sectors.

FIGURE 2. PERFCHARTS OF 11 S&P SECTORS. Sectors are sorted from outperforming (left) to underperforming (right).

PerfCharts show that over the past year, Utilities, Financials, and Communications Services have led the market, while Materials, Technology, and Health Care have lagged. If you were looking to shift your portfolio toward greater sector diversification, this chart would prompt a few questions:

  • Should you be overweight, underweight, or equal weight in your exposure to certain sectors?
  • Do you think the outperforming sectors will retain their leadership levels over the coming quarters, or are they overvalued?
  • Are the laggards undervalued, or might there be further downside in the long-term?

Combining RRG and PerfCharts can provide plenty of context for evaluating whether to enter, exit, or rebalance your positions.

From Sector to Industry to Individual Stocks

One question that’ll likely be on your mind is whether you should invest in individual stocks within a given sector or in a sector index ETF.

If you click the sector names in the Sector Summary tool, you can zoom in on the industries. Select the industry and you’ll get a list of all the stocks within that industry. The charts above tell you how the sectors are performing relative to one another.

If you decide to buy stocks for your sector allocation instead of sector ETFs, then you might want to know how a given stock is performing relative to its a) sector, b) industry, and c) a broader market benchmark like the S&P 500.

Here’s an example. Suppose you decide you want to invest in a stock in the Consumer Staples sector. You decide on Sprouts Farmers Market (SFM) which has a high StockChartsTechnicalRank (SCTR) score. Take a look at this daily chart.

FIGURE 3. DAILY CHART OF SFM. You want to see how SFM is performing against its sector, industry, along with the broader market.

Here are a few key points to note. Based on a one-year view…

  • The Consumer Staples sector (XLP) is underperforming its peers and the S&P 500 by around 4% (as shown in the PerfCharts example above).
  • However, SFM is outperforming its sector (XLP) by over 118%, its industry Food Retailers & Wholesalers ($DJUSFD) by over 104%, and the S&P 500 ($SPX) by over 107%.

If you’re seeking Consumer Staples exposure, should you invest in XLP for a potential turnaround or in SFM, a sector leader with strong momentum?

This is an example of only one way to employ a diversification strategy. You can diversify among stocks vs. bonds, growth vs. value stocks, or emerging vs. developed markets, and many more.

What About Rebalancing?

Market shifts can misalign your portfolio with your strategy, making periodic rebalancing essential for maintaining diversification.

Remember that diversification isn’t about managing and not eliminating risk. You might consider hedging strategies like options or alternative asset exposure like gold, commodities, or crypto during longer downturns. How often should you rebalance? It depends—some do it on a set schedule (every six months or a year), others adjust when allocations drift too far, or after major market events shake things up.

At the Close

Building a diversified portfolio takes a lot of planning, but it doesn’t have to be overly complicated. StockCharts gives you several tools to analyze, select, and build your portfolio. Use the tools to your advantage, and remember to stay flexible, as market conditions perpetually change, prompting you to rebalance from time to time.


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Hydrogen stocks are benefiting from cleantech sector momentum as the world moves closer to a green energy future.

The most abundant element on Earth, hydrogen is a colorless gas. It can be produced in liquid form and burned to generate electricity, or combined with oxygen atoms in fuel cells. In this way, hydrogen — which produces no carbon emissions — can replace fossil fuels in household heating, transportation and industrial processes such as steel manufacturing.

Rising demand for carbon-free energy sources alongside significant new government policies are driving growth in the hydrogen market. Grand View Research projects that the global hydrogen-generation market will grow at a compound annual growth rate of 9.3 percent from 2024 to 2030, reaching US$317.39 billion by the end of the forecast period.

It’s worth noting that the downside to hydrogen as a clean energy source is that 99 percent of the hydrogen fuel currently in production is derived from power generated by coal or gas. To combat this problem, some companies are pursuing green hydrogen, which is produced by splitting hydrogen atoms from oxygen using electrolyzers powered by renewable energy.

The hydrogen stocks on this list are focused on a diverse range of sectors in the hydrogen space, including: low-carbon hydrogen gas production, green hydrogen technology and production, hydrogen fuel cell companies, and hydrogen distribution and storage.

US hydrogen stocks

The US hydrogen market is well established, accounting for “more than half the world’s fuel cell vehicles, 25,000 fuel cell material handling vehicles, more than 8,000 small scale fuel systems in 40 states, and more than 550 MW of large-scale fuel cell power installed or planned,” according to the Fuel Cell and Hydrogen Energy Association.

The US was also the top exporter of hydrogen in 2023 with US$2.15 billion in exports based on data from the Observatory of Economic Complexity (OEC).

Looking at the medium to long term, the use of hydrogen as a fuel source is expected to grow. While the strong government incentives enacted under former US President Joe Biden’s Inflation Reduction Act, such as a production tax credit, may be on the ropes under the Trump Administration, there is still optimism among industry leaders.

1. Linde (NYSE:LIN)

Company Profile

Market cap: US$213.49 billion
Share price: US$453.26

Leading global industrial gases and engineering company Linde has been producing hydrogen for more than a century and is a pioneer in new hydrogen production technologies. Linde’s operations cover each step of the hydrogen value chain, from production and processing through distribution and storage. The company also uses its gases for industrial and consumer applications.

Globally, the company has more than 500 hydrogen production plants. Through its ITM Linde Electrolysis joint venture, Linde has become one of the world’s leading suppliers of green hydrogen produced using proton exchange membrane (PEM) electrolyzer technologies. This also makes it one of the few green hydrogen stocks.

In August 2024, Linde signed a US$2 billion long-term supply agreement to supply clean hydrogen to Dow (NYSE:DOW) subsidiary Dow Canada’s Path2Zero project in Fort Saskatchewan, Alberta.

In response to the regulatory uncertainties under the Trump Administration, Linde announced in its Q4 2024 earnings call that 90 percent of its US clean hydrogen projects will be focused on blue hydrogen, which is created by reforming natural gas with carbon capture storage. Blue hydrogen is more cost effective to produce, and although it is not zero emission like green hydrogen, it is more environmentally friendly than grey hydrogen produced with coal.

2. Air Products & Chemicals (NYSE:APD)

Company Profile

Market cap: US$65.32 billion
Share price: US$292.85

Founded in 1940, Air Products & Chemicals sells industrial gases and chemicals and provides related equipment and expertise to a wide range of industries, including the refining, chemical, metals, electronics, manufacturing, and food and beverage segments.

In addition to producing oxygen, nitrogen, argon and helium, the company operates more than 100 hydrogen plants and maintains the world’s largest hydrogen distribution network. Air Products has an extensive hydrogen-dispensing technology patent portfolio and has been involved in more than 250 hydrogen-fueling projects worldwide.

Air Products also has a joint venture project now under construction with ACWA Power (SR:2082) and NEOM Company in Saudi Arabia. Called the NEOM Green Hydrogen Complex, the operation will be powered by 4 gigawatts of renewable power from solar and wind to produce 600 metric tons per day of carbon-free hydrogen, which it says will be delivered in the form of green ammonia. Once production begins at the complex in 2026, Air Products will be the sole off-taker and plans to deliver the green ammonia to Europe’s transport sector.

Air Products’ Louisiana Clean Energy Complex, its largest US investment, is also making headway, with first production expected in 2028. The complex will produce blue hydrogen for power mobility and industrial markets in the Gulf Coast region and other markets.

3. Cummins (NYSE:CMI)

Company Profile

Market cap: US$43.71 billion
Share price: US$312.92

Indianapolis-based Cummins designs, manufactures and distributes engines, filtration and power-generation products with a specialization in diesel and alternative fuel engines and generators.

In March 2023, the company announced the launch of a new brand, Accelera, which features “a diverse portfolio of zero-emissions solutions, includ(ing) battery systems, fuel cells, ePowertrain systems and electrolyzers.” The brand encompasses Cummins’ established battery electric and hydrogen fuel cell systems, as well as electrolyzers for hydrogen refueling stations. Shortly after, Accelera began production at its first US electrolyzer facility, located in the state of Minnesota.

The hydrogen fuel cell company showcased its next generation B6.7H hydrogen engine at the April 2024 Intermat Sustainable Construction Solutions and Technology Exhibition in Paris. The following month heralded the launch of Accelera’s next-gen hydrogen fuel cell technology for commercial vehicles, specifically the FCE300 and FCE150 fuel cell engines.

Accelera inked a deal in February 2025 to supply a 100 megawatt PEM electrolyzer system for BP’s (NYSE:BP,LSE:BP) Lingen green hydrogen project in Germany. The system is Accelera’s largest to date and uses its HyLYZER PEM electrolyzer technology.

Canadian hydrogen stocks

Like its neighbor to the south, Canada is a world leader in hydrogen and fuel cell technologies, especially when it comes to innovation, research and development. The country reportedly generates C$200 million in hydrogen technology exports according to data from January 2023. In terms of the global hydrogen market, the country exported $385 million worth of hydrogen in 2023, ranking ninth overall according to the OEC.

The federal government is heavily invested in the sector both in terms of funding and the implementation of clean energy policies. “The Hydrogen Strategy for Canada laid out a framework that focuses low-carbon hydrogen as a tool to achieve our goal of net-zero emissions by 2050, while creating jobs, growing our economy, expanding exports and protecting our environment,’ Natural Resources Canada states.

In British Columbia, the Government of Canada invested C$9.4 billion to launch a new Clean Hydrogen Hub that will use electrolyzer technology and hydroelectricity to generate hydrogen that can be sold to industry users.

On the global stage, Canada and its trading partner Germany have agreed to each commit C$300 million for a total of C$600 million to launch Atlantic Canada’s hydrogen export industry, which will send hydrogen to Germany. However, delays due to factors including high hydrogen prices and inflation as well as lack of infrastructure have pushed the expected start of exports back from 2025.

1. Ballard Power Systems (TSX:BLDP)

Company Profile

Market cap: C$526.98 million
Share price: C$1.82

Ballard Power Systems is a global leader in hydrogen fuel cell technology and is working to accelerate the adoption of this technology. The company develops and manufactures PEM fuel cell products that create electrical energy from the combination of hydrogen and air. Ballard’s products are designed for heavy-duty trucks, buses, trains and marine applications, as well as backup power storage.

Two of Ballard’s 200 kilowatt fuel cell modules are located on the world’s first hydrogen-powered ferry, operated by Norwegian company Norled. The company is also supplying hydrogen fuel cell modules to global carbon-reduction company First Mode; they will be used to power several hybrid hydrogen and battery ultra-class mining haul trucks.

In January 2024, Ballard secured a supply contract for a minimum of 100 of its FCmove-HD+ modules to NFI Group to be used in the latter’s New Flyer next generation Xcelsior CHARGE FC hydrogen fuel cell buses, which will be deployed across the US and Canada. The company also announced in April 2024 that it had secured its largest order ever — 1,000 hydrogen fuel cell engines to be supplied to European bus manufacturer Solaris.

Ballard signed a multi-year supply agreement with an Egypt-based company named Manufacturing Commercial Vehicles, in which Ballard will supply 50 FCmove-HD+ fuel cell engines to support projects in the European Union with deliveries expected between 2025 and 2026.

2. Westport Fuel Systems (TSX:WPRT)

Company Profile

Market cap: C$91.5 million
Share price: C$5.07

Headquartered in Vancouver, British Columbia, Westport Fuel Systems supplies advanced alternative fuel delivery components and systems to the transportation industry worldwide. This includes its high pressure direct injection (HPDI) fuel system for commercial vehicles, which can run on biogas, natural gas, hydrogen and other alternative fuel products.

The company has operations in partnership with leading global transportation brands across more than 70 countries across Europe, Asia, North America and South America.

One of those partners is Swedish automaker Volvo Group (STO:VOLV-B). The two firms are working together to commercialize Westport’s HPDI fuel system technology for long-haul and off-road applications that will use renewable fuels now and hydrogen in the future.

Westport is also working with a leading global provider locomotive original equipment manufacturer on a two-year proof of concept project to adapt its hydrogen HPDI fuel system for use with the company’s engine design. The project is fully funded by the locomotive company.

3. Tidewater Renewables (TSX:LCFS)

Company Profile

Market cap: C$90.25 million
Share price: C$2.32

Tidewater Renewables produces renewable diesel and hydrogen at its facilities located near Prince George in BC, Canada. The plant has a nameplate capacity of 3,000 barrels per day of renewable diesel and 23.7 metric tons per day of hydrogen. It began production during Q4 2023 using feedstock that included soybean and canola oil.

Tidewater is now focused on expanding operations at the site to produce sustainable aviation fuel, targeting 2028 for first production.

Australian hydrogen stocks

Australia is another important hotspot for investing in hydrogen. The Australian Government says that ‘over AU$200 billion is currently in the investment pipeline for hydrogen and derivatives,’ accounting for 20 percent of announced renewable hydrogen projects worldwide.

The Australian government’s National Hydrogen Strategy, which it updated in 2023, highlights its intention to position the country as a “major player” in the global hydrogen market by 2030. To this end, Australia has partnered with a number of other nations on hydrogen technology.

Australia and Germany are working together on a hydrogen technology development program that will help Australia build out its capacity to export hydrogen to Germany as it seeks to reduce its reliance on fossil fuels. Through a partnership with Japan, Australia is developing new hydrogen fuel cell technology and looking to establish the world’s first clean liquefied hydrogen export pilot project, and its government has invested more than AU$500 million in the development of regional hydrogen hubs across the country.

In May 2024, the Australian government announced an AU$22.7 billion package to bolster the country’s domestic manufacturing and renewable energy sector, including AU$6.7 billion for renewable hydrogen production starting in mid-year 2028 through the 2039/2040 fiscal year.

1. Gold Hydrogen (ASX:GHY)

Company Profile

Market cap: AU$70.29 million
Share price: AU$0.45

Gold Hydrogen is an exploration and development company with a focus on making new hydrogen and helium discoveries in South Australia using recorded government data with modern exploration techniques.

During initial drill work conducted at its Ramsey project in 2023, Gold Hydrogen reconfirmed the historical figures for hydrogen while demonstrating new purity levels of up to 86 percent. Additionally, strong levels of up to 17.5 percent purity helium were found.

In August 2024, Gold Hydrogen reported high concentrations of hydrogen and helium at surface. Using new seismic information, the company has identified sites for its first wells, which it intends to drill beginning in 2025. “To have an initial world first to see Hydrogen and Helium to surface is very exciting for our further ongoing exploration and drilling programs in even better locations,” Gold Hydrogen Managing Director Neil McDonald stated.

Gold Hydrogen announced in February 2025 that it had received a AU$6.45 million research and development tax refund associated with its natural hydrogen and helium exploration activities for the fiscal year ended June 30, 2024. The refund will help fund the company’s 2025 work to delineate the hydrogen and helium accumulation at Ramsey.

2. Hazer Group (ASX:HZR)

Company Profile

Market cap: AU$67.93 million
Share price: AU$0.30

Technology development company Hazer Group is working to commercialize the HAZER Process, a low-emission hydrogen and graphite production process initially developed at the University of Western Australia. It uses iron ore as a process catalyst to convert natural gas and similar feedstocks into hydrogen for use as an industrial chemical and in fuel cells, as well as into high-quality synthetic graphite for use in lithium-ion batteries.

Hazer started operations at its commercial demonstration plant in early 2024 and it is now producing hydrogen and graphitic carbon.

In May 2024, the company inked an agreement with Canadian utility FortisBC for the development of a hydrogen production facility in British Columbia that will use Hazer’s proprietary technology. The proposed commercial production facility will have a design capacity of up to 2,500 metric tons per year of clean hydrogen and approximately 9,500 metric tons per year of Hazer graphite.

The company announced in March 2025 that it had successfully completing its commercial reactor test program, validating a commercial scale-up reactor design. ‘The equipment was designed to mimic key aspects of the Hazer Process for producing hydrogen and graphite at commercial scale, and the completion of this testing is a major milestone for the government support from CleanBC,’ the press release states.

3. Pure Hydrogen (ASX:PH2)

Company Profile

Market cap: AU$25.77 million
Share price: AU$0.08

Pure Hydrogen is focused on becoming a leading producer and supplier of hydrogen and hydrogen-fuel-cell-powered vehicles such as buses and waste collection vehicles. The company has several partnerships with companies for its technology. Pure Hydrogen’s hydrogen-fuel-cell-powered Prime Mover truck was displayed at the Brisbane Truck Show last year.

Pure Hydrogen has a 40 percent stake in the Turquoise Group, an Australian clean energy company, as well as exclusive long-term acquisition rights for the company’s future hydrogen production. Turquoise Group announced in May 2024 that it had produced the first graphene powder and hydrogen during testing at its commercial demonstration plant in Brisbane, Queensland. In August 2024, Pure Hydrogen registered Australia’s first hydrogen-powered semi-truck, the Hydrogen Fuel Cell 110kW 6×4 Prime Mover.

Pure Hydrogen’s majority-owned subsidiary HDrive confirmed in January 2025 that it had sold two Taurus 70 metric ton hydrogen fuel cell prime movers to Australian logistics services provider TOLL Transport as part of a broader AU$2 million package. The vehicles are slated for delivery in the fourth quarter of the calendar year.

FAQS for hydrogen investing

Which is better: EVs or hydrogen?

According to research from TWI Global, there are pros and cons to both electric vehicles (EVs) and hydrogen vehicles. In terms of range and charging time, hydrogen beats electric hands down. However, while a hydrogen-powered vehicle doesn’t need much time to refuel compared to an EV, there is still much more EV charging infrastructure currently available compared to hydrogen fueling stations. EVs are also cheaper to purchase than hydrogen vehicles. As far as safety and emissions are concerned, it’s a draw between the two.

Why does Elon Musk not like hydrogen?

Elon Musk’s SpaceX has used hydrogen to fuel its rockets, and in 2023 Musk talked about hydrogen playing an important role in industrial applications, such as steelmaking. However, he has balked at the idea of hydrogen fueling vehicles, calling fuel cells “fool sells.” Speaking at a Financial Times conference in May 2022, Musk said, “It’s important to understand that if you want a means of energy storage, hydrogen is a bad choice.”

Starting in 2024, rumors began spreading that Tesla (NASDAQ:TSLA) was planning to launch a Tesla Model H powered by hydrogen, but they have been proven false.

Why is Toyota investing in hydrogen?

Toyota (NYSE:TM,TSE:7203) first invested in hydrogen fuel cell technology in 1992 as its executives saw clean energy as the future of transport. However, with EVs dominating the clean car space, the automaker began to shift its focus to compete with its peers. Toyota brought its newest hydrogen-powered vehicle to market in the fall of 2023 — a revamped Crown sedan that also has a hybrid-electric version. The following year, the auto maker introduced the first prototype of its Toyota Hilux trucks with a hydrogen fuel cell powertrain.

In 2025, Toyota shared its long-term strategy for developing hydrogen passenger vehicles as well as hydrogen technologies for long-haul freight.

Who is the leader in hydrogen energy?

Some countries leading in green and blue hydrogen production are the US, Germany and Canada. Many countries around the world have released clean hydrogen strategies, including the US, Canada and many countries in the Europe Union. However, clean hydrogen production is still in the early phases as countries develop infrastructure.

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

This post appeared first on investingnews.com

A SpaceX Dragon capsule carrying astronauts Butch Wilmore and Suni Williams, as well as NASA’s Nick Hague and Russian cosmonaut Aleksandr Gorbuno, landed off the Florida coast at 5:57 p.m. EDT on Tuesday (March 18).

This marked the end of a nine month saga for the two astronauts that began last June, when they departed to the International Space Station (ISS) for an eight day mission to test Boeing’s (NYSE:BA) Starliner for future crewed missions.

The astronauts’ prolonged stay and their eventual rescue by SpaceX has undeniably propelled discussions about the reliability and expanded role of commercial entities in space travel.

Boeing Starliner issues and SpaceX rescue mission

Wilmore and Williams’ mission was the Starliner’s first crewed flight, and they were supposed to return after eight days. After they landed on the ISS on June 6, 2024, NASA delayed their return due to technical issues with the Starliner.

NASA had detected a helium leak shortly before launching the Starliner, but proceeded with the mission. However, the spacecraft experienced additional helium leaks and thruster failures during docking. Due to uncertainty about thruster reliability during reentry, NASA opted for an uncrewed return to Earth.

NASA then turned to SpaceX, Elon Musk’s space exploration startup, and began preparations for the crew to return on a SpaceX Dragon capsule. At that time, NASA expected the astronauts to return to Earth in February 2025, but subsequent technical delays led to a revised launch date from earth on March 11.

Wilmore and Williams made the most of their prolonged stay on the ISS, conducting 150 experiments, the CBC reports. Williams also broke the record for total spacewalking time by a female astronaut.

NASA and SpaceX postponed the flight again until March 14 due to an issue with the ground equipment used to support the flight. In the end, SpaceX’s Falcon 9 rocket carrying its Dragon craft left Earth from Florida’s Kennedy Space Center at 7:03 p.m. EDT on Friday, March 14, arriving at the ISS roughly 29 hours later on Sunday, March 16. The Dragon undocked from the ISS to bring the mission home a few days later on Tuesday at 1:05 a.m., landing back on Earth later that day.

“On behalf of Crew-9, I’d like to say it was a privilege to call the station home, to live and work and to be a part of a mission and a team that spans the globe, working together in cooperation for the benefit of humanity,” Hague said as the capsule undocked. “Crew-9 going home.”

Private companies’ growing role in space travel

The successful return of Wilmore and Williams highlights the growing role of private companies in space travel. The aging ISS, slated for decommissioning due to escalating maintenance, helped provide the impetus for this new era.

In June 2023, the US Biden administration awarded SpaceX a contract valued at US$843 million to build a spacecraft that will guide the ISS out of orbit, allowing it to break up upon re-entry into Earth’s atmosphere.

While the mission is slated for 2030, Musk advocated in February for completion within two years. ‘It has served its purpose,’ he posted on X, formerly known as Twitter. ‘There is very little incremental utility. Let’s go to Mars.’

His push for speed comes as competition in the commercial space sector rises. Multiple delays and technical challenges faced by Boeing’s Starliner program have created opportunities for private companies like SpaceX and Jeff Bezos’ Blue Origin to expand their presence and capabilities in the commercial space sector. SpaceX is also developing its Starship reusable launch vehicle, intended for a range of purposes, including travel to the Moon and Mars.

2025 has seen numerous high-profile launches and tests, with each launch representing a strategic step in the broader space race. Blue Origin successfully completed the inaugural launch of its New Glenn rocket in January. SpaceX has also conducted two test flights of its Starship rocket so far this year, although both exploded after launch. Four of eight Starship tests have been successful since its first test in 2023, with the next slated for April.

US-China space race and Musk-Trump conflict of interest

Competition between the US and China for strategic dominance in space has intensified since China’s Chang’e-4 mission achieved the first-ever soft landing on the far side of the Moon in January 2019.

This was a significant technological achievement that demonstrated the capabilities of China’s space program, which benefits from consistent investment by the government.

Conversely, while NASA remains a substantial recipient of government funding, the amount has fluctuated over the decades, leading to periods of constrained budgets. Recognizing the potential for innovation and efficiency, NASA has progressively incorporated commercial partnerships into its programs.

The Artemis program — NASA’s lunar exploration program that directly competes with China’s Chang’e — demonstrates this strategic shift through its collaboration with SpaceX for the Human Landing System. SpaceX has also taken a more active role in providing crew and cargo transportation to the ISS, as well as launch services for various NASA missions.

Musk’s financial support to US President Donald Trump’s campaign sparked concerns over the potential influence the billionaire would have over NASA-related decisions, including funding allocation. Trump’s actions since taking office in January fueled these concerns further — Trump chose Jared Isaacman, a close friend of Musk and a billionaire with no government experience, to head NASA. His appointment not been confirmed by the US Senate at this time.

Subsequent decisions, such as the closure of two NASA offices and NASA laying off significant portions of its workforce to comply with the administration, have intensified concerns about the agency’s future direction and the extent to which private interests may be shaping its priorities. These actions have collectively stoked apprehension about a potential conflict of interest due to Musk’s involvement and the consequences for the agency’s independence and public trust.

Since the November US election results, Musk’s private companies have increased in value significantly. SpaceX’s value alone rose by 67 percent to US$350 billion after a secondary share sale in December 2024.

While purchasing shares of privately held SpaceX is not an option for many investors, those who qualify as accredited investors can invest in a SpaceX funding round. Additionally, accredited investors can access shares through secondary markets, which are platforms where existing shareholders of a private company can buy and sell their shares.

Caplight analysis shows the secondary market has increased the collective value of Musk’s private companies — including SpaceX, xAI, the Boring Company and Neuralink — by 45 percent since the US election.

Javier Avalos, CEO of the trading platform, told Bloomberg that investors are willing to pay more than the latest offer price to acquire shares of SpaceX. Caplight states in its reporting that special purpose vehicles (SPVs), which are legal entities often created to pool investments from multiple contributors, accounted for 43 percent of the total secondary transaction volume in Q4 2024. That’s compared to just 12 percent in 2023.

A March 8 Financial Times article states that three anonymous Chinese asset managers shared they had sold over US$30 million in shares of Musk’s private companies over the past two years to Chinese investors using SPVs.

The sources alleged that Chinese asset managers are promoting Musk’s relationship with Trump “as an enticement to raise capital,’ adding that the asset managers tell their clients that SPVs “are specifically designed to avoid disclosure.”

However, the sources said the investments are primarily profit-driven has little connection with technology transfer or influencing public policy. Rather, Chinese investors have utilized SPVs to mitigate public disclosure risks. “Risks do exist because we are not sure how bad US-China relations will become in the next few years,” one source told the outlet.

Investor takeaway

The successful return of the Crew-9 astronauts aboard a SpaceX Dragon capsule highlights the increasing role of private companies in space travel. This event, coupled with the growing competition in the commercial space sector and strategic shifts in NASA’s approach, signifies a new era in space exploration.

Moreover, the high valuation and investor interest in companies like SpaceX, despite the challenges and competition, further underscores the dynamism and potential of this evolving industry.

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

This post appeared first on investingnews.com