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For millions across India, a rigid caste system thousands of years old still dictates much of daily life – from social circles to dating pools to job opportunities and schooling.

The Indian government has long insisted that the social hierarchy has no place in the world’s most populous nation, which banned caste discrimination in 1950.

So, it came as a surprise when Prime Minister Narendra Modi’s administration announced that caste would be counted in the upcoming national census for the first time since 1931 – when India was still a British colony.

Counting caste will “ensure that our social fabric does not come under political pressure,” the government said in its April press release. “This will ensure that society becomes stronger economically and socially, and the country’s progress continues without hindrance.”

The release didn’t include any detail on how the caste data would be collected, or even when the census will take place (it has been repeatedly delayed from its original 2021 date). But the announcement has revived a longstanding debate about whether counting caste will uplift disadvantaged groups – or further entrench divisions.

The proposal is so controversial because a caste census “forces the state to confront structural inequalities that are often politically and socially inconvenient,” said Poonam Muttreja, Executive Director of the Population Foundation of India.

The lack of caste data over the past century means “we are effectively flying blind, designing policies in the dark while claiming to pursue social justice,” she added. “So, the next census is going to be a historical census.”

What is caste?

India’s caste system has roots in Hindu scriptures, and historically sorted the population into a hierarchy that defined people’s occupations, where they can live and who they can marry based on the family they’re born into. Today, many non-Hindus in India, including Muslims, Christians, Jains and Buddhists, also identify with certain castes.

There are several main castes, and thousands of sub-castes – from the Brahmins at the top, who were traditionally priests or scholars, to the Dalits, formerly known as the “untouchables,” who were made to work as cleaners and waste pickers.

For centuries, castes on the bottom rung – Dalits and marginalized indigenous Indians – were considered “impure.” In some cases they were even barred from entering the homes or temples of the upper castes, and forced to eat and drink from separate utensils in shared spaces.

India tried to wipe the slate clean after it won independence from Britain in 1947, introducing a flurry of changes in its new constitution. It set up specific categories of castes, used to establish affirmative action quotas and other benefits – eventually setting aside 50% of jobs in government and places at educational institutions for marginalized castes. It also abolished the concept of “untouchability” and banned caste discrimination.

The decision to stop counting caste in the census was another part of this mission.

“After independence, the Indian state consciously moved away from enumerating caste … in the census,” said Muttreja. “They thought they should not highlight caste, and that in a democracy, it will automatically even out.”

But that hasn’t happened. Although the hard lines of caste division have softened over time, especially in urban areas, there are still major gaps in wealth, health and educational attainment between different castes, according to various studies. The most disadvantaged castes today have higher rates of illiteracy and malnutrition, and receive fewer social services such as maternal care and reproductive health, Muttreja added.

Social segregation is also widespread; only 5% of marriages in India are inter-caste, according to the India Human Development Survey. Similar divides linger in friend groups, workplaces, and other social spaces.

These persistent gaps have fueled rising demand for a caste census, with many arguing that data could be used to secure greater federal government aid and reallocate resources to the needy.

In some states – such as Bihar, one of India’s poorest states – local authorities have conducted their own surveys, prompting calls for Modi and his Bharatiya Janata Party (BJP) government to follow suit.

Now, it appears, they will.

Why now?

Modi has long pushed back on attempts to define the population along traditional caste lines, previously declaring that the four “biggest castes” were the poor, youth, women and farmers – and that uplifting them would aid the entire country’s development.

But rising discontent among underprivileged castes boosted opposition parties during the 2024 national election, which delivered a shock result: although Modi won a third term, the BJP failed to win a majority in parliament, diminishing their power.

Modi’s U-turn on the caste census, his rivals claim, is a political maneuver to shore up support in upcoming state elections, particularly in Bihar – a battleground state where the issue has been particularly sensitive.

“The timing is no coincidence,” wrote M. K. Stalin, the Chief Minister of Tamil Nadu state and a longtime Modi critic, in a post on X. “This sudden move reeks of political expediency.”

Bihar’s own caste survey in 2023 found there were far more people in marginalized castes than previously thought, sparking an ongoing legal battle to raise the affirmative action quotas.

Several other states took their own surveys, which the federal government said in its statement were “varied in transparency and intent, with some conducted purely from a political angle, creating doubts in society.”

The main opposition Congress party celebrated the government’s announcement, claiming Modi had bowed to their pressure. BJP leaders, meanwhile, say the opposition neglected to conduct any caste census during their years in power, and had now politicized the issue for their own gain.

The previous Congress-led government did conduct a national caste survey in 2011, but the full results were never made public, and critics alleged the partial findings showed data anomalies and methodology issues. It was also separate from the national census conducted that same year, meaning the two sets of data can’t be analyzed against each other.

Though authorities haven’t said when the new census will take place, they have enough time to refine the methodology and make sure key information is collected, said Sonalde Desai, demographer and Professor Emerita of Sociology at the University of Maryland College Park.

After the census is complete, the next battle will begin: how to use that data to shape policy.

A controversial proposal

Not all are in favor of the caste census.

Opponents argue that the nation should be trying to move away from these labels instead of formalizing them. Some believe that instead of focusing on caste, government policies like affirmative action should be based on other criteria like socioeconomic class, said Desai, also a professor of applied economic research at the National Council of Applied Economic Research in New Delhi.

She supports the caste census, but said opponents might view such a survey as regressive, instead of helping to create “a society in which (Indians) transcend that destiny” defined by caste.

There’s another factor, too: if the census reveals that marginalized castes are bigger than previously thought, as was the case in Bihar, the government could increase how much affirmative action they receive, angering some traditionally privileged castes who already dislike the quota system.

Over the years, anti-affirmative action protests have broken out, some turning deadly – with these groups accusing the government of reverse discrimination, echoing similar controversies in the United States about race-conscious college admissions and job hiring. These same groups are likely to decry the caste census, Muttreja said.

Already, some opposition leaders are calling to remove the 50% cap on affirmative action quotas, and to implement affirmative action in other institutions like private companies and the judiciary – controversial proposals that have prompted online firestorms.

It might also show how the balance of power and privilege has shifted over the past century, said Desai. Since the 1931 census, some previously disadvantaged castes may have been buoyed by affirmative action and other measures – while other castes that once sat higher on the ladder may no longer be considered as privileged.

This is why, she argues, India’s government should use the data to perform a “re-ranking” – reorganizing which castes belong in which of the specific categories used to allocate resources and benefits.

The census could clearly illustrate who needs what kind of help and how to best deliver it, instead of relying on outdated data, said Muttreja. It can reveal intersectional gaps; for instance, a woman in rural India may struggle far more than a man of the same caste, or a peer in an urban area. And it could show whether any castes have ballooned in size, demanding more funding than currently allocated.

“It can shape school funding, for instance, health outreach, employment schemes and more,” she said. It “helps ensure that quotas reflect real disadvantage, not just historical precedent.”

Once that data is out there, Muttreja believes, the government will be forced to act – it can’t afford not to. And for those who still deny that caste discrimination remains rampant, or who argue that affirmative action is no longer necessary: “This data will stare at people’s faces.”

This post appeared first on cnn.com

Russia has sentenced an Australian man to 13 years in a maximum-security prison for fighting alongside Ukrainian forces, state prosecutors in the Russian-controlled parts of eastern Ukraine said Friday.

Oscar Jenkins, 33, was found guilty by a court in Luhansk of participating in an armed conflict as a mercenary, prosecutors said in a statement, after it ruled he had fought for Ukraine against Russia between March and December last year.

Australian Foreign Minister Penny Wong said on Saturday that her government was “appalled” by the sentencing, calling it a “sham trial” and urged Russia to treat Jenkins in accordance with international humanitarian law.

Australia has repeatedly called for the release of Jenkins, who is originally from Melbourne, since he was captured by Russian forces in December.

“We continue to hold serious concerns for Mr Jenkins. We are working with Ukraine and other partners, including the International Committee of the Red Cross, to advocate for his welfare and release,” Wong said in a statement.

Russian prosecutors accused Jenkins of being paid between $7,400 and $10,000 a month to fight in Ukraine as a mercenary. The Kremlin maintains that mercenaries are subject to criminal prosecution and not entitled to prisoner-of-war protections under international law.

In a photo shared by the Russian-controlled court in Luhansk, Jenkins was seen standing in a glass cage with his hands behind his back.

The court ordered Jenkins to serve his sentence in a maximum-security penal colony, the prosecutor’s office said.

Jenkins is thought to have joined an international brigade among the Ukrainian ranks, according to Reuters. His arrest came to light late last year when a video surfaced on Russian Telegram accounts purportedly showing Jenkins being taken as a prisoner of war.

Speaking in a mix of English, Ukrainian and Russian, he identifies himself as “a soldier” and says he is a teacher in China and a student in Australia.

Earlier this year, media reports suggesting he might have been killed prompted Canberra to summon the Russian ambassador, with Prime Minister Anthony Albanese vowing the “strongest action” over any harm caused to the man.

Albanese said last month his government would continue to make representations to the “reprehensible regime” of Russian President Vladimir Putin on behalf of Jenkins.

Australia has repeatedly condemned Russia’s invasion of Ukraine and has given Kyiv close to $1 billion in assistance since 2022, while its military has provided training for Ukraine’s armed forces.

This post appeared first on cnn.com

Hundreds of supporters of ex-President Evo Morales marched toward Bolivia’s top electoral court on Friday to push for their leftist leader’s candidacy in presidential elections later this year, a rally that descended into street clashes as police tried to clear out a group of demonstrators.

The confrontations come in response to a ruling by Bolivia’s Constitutional Court that blocks Morales, the nation’s first Indigenous president who governed from 2006 until his ouster in 2019, from running again in Aug. 17 elections.

The turmoil escalates political tensions as Bolivia undergoes its worst economic crisis in four decades.

As the march arrived in Bolivia’s capital of La Paz, protesters seeking to register Morales’ candidacy surged toward the Supreme Electoral Tribunal, chanting, “Comrades, what do we want? For Evo to come back!”

Security forces barricading a road to the court held them back. Police reported that the clashes between rock-throwing protesters and tear gas-lobbing police forces injured two officers, a journalist and a local merchant.

“They’re using firecrackers and rocks that are hurting our forces,” said police Commander Juan Russo. “This is not a peaceful march.”

The authorities did not report on any injuries among the protesters, who were seen being pushed onto the ground, shoved into police cars and blasted with tear gas. Morales had promised to attend the march Friday but did not show up.

The court’s unanimous decision Wednesday upheld an earlier ruling that bans presidents from serving more than two terms. Morales has already served three, and, in 2019, resigned under pressure from the military and went into exile as protests erupted over his bid for an unprecedented fourth term.

Morales returned to Bolivia a year later as the 2020 elections vaulted to power his preferred candidate, President Luis Arce, from his long-dominant Movement Toward Socialism, or MAS, party.

Arce, who announced earlier this week that he would not seek re-election, insisted that the Constitutional Court had disqualified Morales, his mentor-turned-rival, from running in 2025.

But many experts doubt the legitimacy of that decision in a country where political conflicts undermine the courts and presidents have maneuvered to get their allies on the bench.

“The Constitutional Court issues unconstitutional arbitrary rulings at the whim of those in power,” said Morales, who himself reaped the benefits of favorable judges while seeking to run for a fourth consecutive term in 2017.

After Morales lost a referendum seeking to do away with term limits while still in power, the Constitutional Court ruled it would be against Morales’ human rights to stop him from running for another term.

That 2017 ruling allows Morales to register his candidacy, said Oscar Hassentoufel, the president of the Supreme Electoral Tribunal. “Then the tribunal will decide whether he’s eligible or not.”

In defiance of the latest court ruling, Morales called a mass march that marshaled his loyal supporters in the rural tropics. They long have championed the Indigenous coca-grower for transforming the country during his tenure — redistributing Bolivia’s natural gas wealth and seeking greater inclusion for its Indigenous majority.

Although he had earlier promised to participate, it appeared that Morales remained holed up in his stronghold for fear of arrest on human trafficking charges that he claims are politically motivated.

The government confirmed that fear Friday. “We ask Mr. Morales to surrender voluntarily,” said Eduardo del Castillo, a key minister in Arce’s government whom the MAS party endorsed for president later Friday in place of Arce. “If we find him walking the streets, we will arrest him.”

Instead, scores of his supporters walked the capital’s streets on Friday wearing masks of Morales’ face.

“Evo Morales is each and every one of us. If they want to detain Evo Morales they would need to take every one of us, too,” said David Ochoa, a representative of the marchers.

This post appeared first on cnn.com

Police in the UK have charged three Iranian nationals with national security offenses following a counter-terror investigation.

The three men, arrested on Saturday, 3 May, have been charged with “engaging in conduct likely to assist a foreign intelligence service,” namely Iran, between 14 August 2024 and 16 February 2025, London’s Metropolitan Police said in a statement Saturday.

The men, aged between 39 and 55, have been named by police as Mostafa Sepahvand, Farhad Javadi Manesh, and Shapoor Qalehali Khani Noori.

They have been charged with engaging in surveillance and reconnaissance, with one man charged with the intention of committing “serious violence against a person in the United Kingdom,” the statement outlined.

The UK’s Crown Prosecution Service charged the men on Friday, and they are due to appear at Westminster Magistrates’ Court on Saturday. The investigation is being led by the British counter terrorism police.

Commander Dominic Murphy, from the Met’s Counter Terrorism Command, said: “These are extremely serious charges under the National Security Act, which have come about following what has been a very complex and fast-moving investigation.”

A fourth man, aged 31, who was arrested on Friday, May 9, has been released without charge.

This post appeared first on cnn.com

Where are we in the market cycle? In this video, Julius reviews the sector rotation and asset class performance from the past 2-3 weeks to provide an objective take on where we stand in the current market cycle. Using his signature Relative Rotation Graphs (RRG), he uncovers shifts in momentum and leadership across sectors and asset classes.

This video was originally published on May 15, 2025. Click on the icon above to view on our dedicated page for Julius.

Past videos from Julius can be found here.

#StayAlert, -Julius

Westport Fuel Systems Inc. (‘Westport’ or the ‘Company’) (TSX:WPRT Nasdaq:WPRT), today held its Annual General and Special Meeting of Shareholders (the ‘Meeting’) in a virtual format. Shareholders approved all resolutions presented at the meeting including the election of all nominated directors for the ensuing year, the appointment of KPMG LLP as the Company’s auditors for the fiscal year, the advisory vote on executive compensation, and the sale of Westport Fuel Systems Italia S.r.l in accordance with the terms of the sale and purchase agreement dated as of March 30, 2025.

A summary of the results are as follows:

Resolution Outcome
of Vote
Percentage of
Votes For
Percentage of
Votes
Withheld/Against
Election of Directors
Michele Buchignani Approved 81.22% 18.78%
Anthony Guglielmin Approved 87.16% 12.84%
Daniel M. Hancock Approved 61.47% 38.53%
Daniel Sceli Approved 91.10% 8.90%
Karl-Viktor Schaller Approved 61.28% 38.72%
Eileen Wheatman Approved 81.43% 18.57%
Appointment of Auditors Approved 93.83% 6.17%
Executive Compensation
(Advisory Vote) Agree 52.87% 47.13%
Sale of Westport Fuel Systems Italia S.r.l Approved 83.38% 16.62%


About Westport Fuel Systems

At Westport Fuel Systems, we are driving innovation to power a cleaner tomorrow. We are a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global transportation industry. Our technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America, and South America, we serve our customers in approximately 70 countries with leading global transportation brands. At Westport Fuel Systems, we think ahead. For more information, visit www.wfsinc.com .

Investor Inquiries:
Investor Relations
T: +1 604-718-2046
E: invest@wfsinc.com

News Provided by GlobeNewswire via QuoteMedia

This post appeared first on investingnews.com

Gold is one of the most important metals on the planet. For millennia it has been used in jewelry, art and currency, capturing the collective imagination as a thing of wonder. Gold’s association with royalty and wealth has inspired explorers and treasure hunters alike, who put themselves at risk for a chance to strike it rich.

Today, gold’s hold on us as a precious metal is no less powerful. Still used for jewelry and as a store of wealth, the metal also has a variety of modern industrial and electronic applications.

Even though gold seems to be everywhere, in reality it’s a finite resource. Only 244,000 metric tons of gold have ever been mined, and two-thirds of that has been extracted since 1950. Comparing that amount to the more than 700 million metric tons of copper that have been pulled from the ground provides an idea of how precious a resource gold truly is.

For investors interested in the yellow metal and the companies that mine it, it’s important to understand global gold reserves. This data can provide critical information on the long-term viability of supply and which countries have room to grow.

Data for this article comes from the most recent Mineral Commodity Summary from the US Geological Survey as well as Mining Data Online (MDO).

Although gold is often measured and discussed in ounces, the USGS uses metric tons for its gold data, so this article will contain a mix of the two measurements. For perspective, 1 metric ton of gold is equal to 35,274 ounces and worth US$116 million at a price of US$3,300 per gold ounce.

According to the US Geological Survey, identified economic gold reserves currently stand at 64,000 metric tons globally. This is a significant jump from 59,000 metric tons in the previous report, with reserves for many countries revised to the upside. Read on to learn about the top 10 gold reserves by country.

1. Australia

Gold reserves: 12,000 metric tons

The sixth largest country by land area, Australia is tied for the most gold reserves of any nation at 12,000 metric tons, with over 60 percent of its gold deposits located in Western Australia.

The mining nation is also one of the top producers of gold, digging up 290 metric tons of the metal in 2024.

Australia is home to many large gold mines, including Newmont’s (TSX:NGT,NYSE:NEM,ASX:NEM) Boddington and Cadia Valley operations, which produced 590,000 ounces and 464,000 respectively in 2024. It also hosts the Tropicana mine, a joint venture between AngloGold Ashanti (NYSE:AU) and Regis Resources (ASX:RRL,OTC Pink:RGRNF) that produced 426,000 ounces of gold.

1. Russia

Gold reserves: 12,000 metric tons

Russia has the largest land area of any country, and unsurprisingly is now tied for the top country for gold reserves, boasting an impressive 12,000 metric tons of gold. Its reserves were raised from 11,100 in 2023, but they mark an even more sizeable increase from the 6,800 metric tons of reserves reported for 2022.

Additionally, Russia’s gold output remained steady in 2024 with 310 MT extracted. Russia has several large gold mines, but none are more prolific than Polyus’ (MCX:PLZL) Olimpiada mine in the Krasnoyarsk Krai region of Siberia. According to the company’s most recent data, the mine produced 1.48 million ounces in 2024.

Russian gold is having difficulties reaching most markets following the country’s invasion of Ukraine. The London Bullion Market Association halted trading and removed Russian refiners from its accredited list in March 2022. However, a significant portion of the metal was exported to the United Arab Emirates following the sanctions, according to Reuters, and Russian gold has also made its way into the country’s stockpiles.

3. South Africa

Gold reserves: 5,000 metric tons

South Africa remains a powerhouse in terms of global gold reserves, and the country’s Witwatersrand Basin is among the top gold jurisdictions in the world.

Although South Africa remains comfortably in the top three countries for reserves with 5,000 metric tons, the country has lost some of its luster when it comes to production. At the turn of the century, South Africa was the top gold-producing country, with 431 metric tons extracted in 2000. The country’s output has slowly fallen in the decades since though, and has hit all-time lows in recent years — South Africa produced just 100 metric tons of gold in 2024.

One reason for lowered production is decreasing gold grades, which have led miners operating in the country to move to greater depths. In fact, eight of South Africa’s gold mines are among the world’s 10 deepest mines for any commodity, with AngloGold Ashanti’s (NYSE:AU,JSE:ANG) Mponeng gold mine topping the list at 2.4 kilometers to over 4 kilometers below surface. This has made industrial mining operations prohibitively expensive and more dangerous.

Harder to reach resources and high electricity costs have resulted in limited investment in exploration as companies looked to lower cost projects in other countries like Australia and Canada.

4. Indonesia

Gold reserves: 3,600 metric tons

Indonesia is home to 3,600 metric tons of gold reserves. The country jumped significantly from 2023, adding more than 1,000 metric tons to its reserves and climbing to number four on our list.

Indonesia is home to the Grasberg complex, one of the world’s largest gold operations and host to 23.9 million recoverable gold ounces. Operated by Freeport-McMoRan (NYSE:FCX), Grasberg includes several underground mines and the Kucing Liar deposit, which is currently being developed.

Once Kucing Liar is operational, Freeport expects it to deliver an additional 520,000 ounces of gold per year for 6 million total ounces between 2029 and 2041.

5. Canada

Gold reserves: 3,200 metric tons

Canada’s gold reserves total 3,200 metric tons, up 900 metric tons in the latest USGS report. Its gold reserves had previously remained constant since 2012 at 2,300 metric tons. The country has more than doubled its gold output in that time, jumping from 97 metric tons in 2012 to 200 metric tons in 2024.

Canada has a rich history of gold mining since the metal was first discovered in Québec in the early 1800s. Mining operations can now be found across Canada, but more than 70 percent of the country’s gold is produced in Ontario and Québec. Other significant producers are BC with 9 percent, the Yukon with 4 percent and Manitoba with 2 percent.

Canada has a number of very large gold mines, the largest of which is Agnico Eagle Mines’ (TSX:AEM,NYSE:AEM) Canadian Malartic Complex in Québec. The mine produced 689,000 ounces of gold in 2023 and hosts proven and probable reserves of 7.92 million ounces.

Because of its well-established natural resource sector, Canada is leading the way in sustainable initiatives to protect the environment and communities. The Mining Association of Canada’s Toward Sustainable Mining initiative has been adopted by organizations around the world, including those in Finland, Brazil and the Philippines.

6. China

Gold reserves: 3,100 metric tons

China’s importance as a gold miner has been growing over recent years and made significant gains, moving from number nine on our list with 1,900 metric tons in 2022, to number six with 3,100 metric tons in 2024. Additionally, China’s gold output ranks first overall globally with 380 metric tons of gold last year.

China’s gold-mining industry is dominated by state-owned operators. Some of the largest companies include Zijin Mining Group (HKEX:2899), which owns the Shanxi mine, the largest gold mine in the Shanxi province. The mine produced 107,700 ounces of gold in 2024.

Another of China’s largest companies is China Gold International Resources (TSX:CGG,HKEX:2099), which owns a 96.5 percent stake in the Chang Shan Hao gold mine located in Inner Mongolia, one of China’s largest gold mines. Chang Shan Hao produced 108,188 ounces of gold last year.

In addition to its high gold reserves and production, China also has a strong impact on the gold market through significant purchases by the People’s Bank of China in recent years. As of April 2025, the Chinese central bank holds an estimated 2,280 metric tons of gold.

7. United States

Gold reserves: 3,000 metric tons

Gold reserves in the US have remained steady at 3,000 metric tons since 2012. The country is home to well-developed infrastructure, highly experienced companies and an advanced workforce. However, over the last decade, production and refinement of the yellow metal in the US has been in decline, dropping from 230 metric tons in 2012 to 160 metric tons in 2024.

The largest gold-mining assets in the US are all owned by Nevada Gold Mines, a joint venture between Barrick Gold (TSX:ABX,NYSE:GOLD) and Newmont, and consist of Turquoise Ridge, the Cortez Complex and the Carlin Complex. Between them, the mines produced 3.03 million ounces of gold in 2023.

8. Peru

Gold reserves: 2,500 metric tons

Gold has been an important part of Peru’s economy for centuries. The country has a well-documented mining industry, and it ranks as one of the top nations in the world when it comes to gold reserves. Its gold reserves peaked in 2022 with 2,900 metric tons before falling to 2,300 metric tons in 2023. Peru’s gold reserves were back up slightly in this report, helping it to land at number eight on our list with 2,500 metric tons.

Peru’s gold production has remained consistent over the past two years at 100 metric tons.

Large players make up the bulk of Peru’s gold industry, with major miner Newmont leading the way at Yanacocha, the biggest gold mine in Peru. In 2024, output from the mine reached 354,000 ounces of gold, a significant jump from 2023’s 276,000 ounces.

There are also artisanal operations in the country, along with operations being run by criminal organizations. While environmental concerns are common in the mining industry, illegal and small-scale gold miners often employ mercury during the extraction process, which is very damaging to the environment.

To counteract illegal mining operations, the Peruvian government instituted Operation Mercury in 2019, which involved military interventions at illegal mine sites and the destruction of mining operations. For small-scale and artisanal mining, programs such as the Fairmined Ecological Gold certification exist to encourage environmentally friendly mining methods by introducing premium prices for gold that meets particular requirements. This also allows gold buyers to identify gold from legal operations that reduce the use of toxic treatments like mercury during the extraction process.

9. Brazil

Gold reserves: 2,400 metric tons

Home to the first modern gold rush over 300 years ago, Brazil currently has 2,400 metric tons of economic gold reserves. Brazil has an undeniable history with the precious metal, although its extracted only 70 metric tons in 2024.

The largest gold mine in Brazil is AngloGold Ashanti’s AGA Mineracao Operaation in Minas Gerais. In 2024, the mine produced 271,000 ounces of gold. New production also came online last year. G Mining Ventures (TSX:GMIN,OTCQX:GMINF) declared commercial production at its Tocantinzinho mine in September 2024, and the mine produced 63,566 ounces of gold by the year’s end.

Much like Peru, gold mining in Brazil has a darker side as well. Illegal operators, many of which have found their into mining through social media sites like YouTube and TikTok, are impacting both sensitive rainforest ecosystems and local Indigenous communities. Despite government crackdowns, new operations continue to pop up throughout the Amazon.

10. Kazakhstan

Gold reserves: 2,300 metric tons

Kazakhstan’s gold reserves total 2,300 metric tons, up a sizeable 1,300 metric tons compared to the prior year, a big enough boost to break into this top 10 gold reserve list.

The jump is owed to a significant increase in exploration, which saw 23 new deposits, including 20 metric tons of gold, added to the country’s subsoil registry. Launched in 2023, the registry has helped to streamline the exploration process and allowed modern technology to be applied to historical data sets.

Kazakhstan’s largest gold-mining operation is the Altyntau Kokshetau mine, owned by mining giant Glencore (LSE:GLEN,OTC Pink:GLCNF).

In its 2024 production report, Glencore stated that it produced 603,000 ounces of gold across all its Kazakhstan assets, the majority of which came from the Altyntau Kokshetau mine.

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

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This post appeared first on investingnews.com

The US Department of the Interior announced on Monday (May 12) that it will fast track environmental permitting for Anfield Energy’s (TSXV:AEC,OTCQB:ANLDF) Velvet-Wood uranium project in Utah

The decision slashes what would typically be a years-long review process down to just 14 days, and makes Velvet-Wood the first uranium project to be expedited under a January 20 statement from President Donald Trump. In it, he declares a national energy emergency and emphasizes the importance of restoring American energy independence.

This week’s decision signals what Anfield calls “a decisive shift in federal support for domestic nuclear fuel supply.”

The Velvet-Wood project, located in San Juan County, Utah, is expected to produce uranium used for both civilian nuclear energy and defense applications, as well as vanadium, a strategic metal used in batteries and high-strength alloys.

Secretary of the Interior Doug Burgum characterized the move as part of an urgent federal response to what he said is “an alarming energy emergency” created by the “climate extremist policies” of the previous administration.

“President Trump and his administration are responding with speed and strength to solve this crisis,” he said. “The expedited mining project review represents exactly the kind of decisive action we need to secure our energy future.”

Anfield acquired Velvet-Wood, which is currently on care and maintenance, from Uranium One in 2015.

The asset sits on the site of a previously active operation. Between 1979 and 1984, Atlas Minerals extracted approximately 400,000 metric tons of ore from the Velvet deposit, recovering around 4,000,000 pounds of U3O8. If approved, the revived project would disturb only three acres of new surface area, according to the interior department.

‘As a past-producing uranium and vanadium mine with a small environmental footprint, Velvet-Wood is well- suited for this accelerated review,’ said Anfield CEO Corey Dias.

He added that the company aims ‘to play a meaningful role in rebuilding America’s domestic uranium and vanadium supply chain and reducing reliance on imports from Russia and China.”

The company also owns the Shootaring Canyon uranium mill in Utah, which it plans to restart. The facility, described as one of only three licensed, permitted and constructed conventional uranium mills in the country, would convert uranium ore into uranium concentrate bound for nuclear fuel production.

Uranium market sentiment turning a corner?

After a rocky start to 2025, the uranium market is showing signs of renewed strength and resilience.

According to Sprott Asset Management’s latest uranium report, the U3O8 spot price rose by 5.4 percent in April, climbing to US$67.70 per pound from a March low of US$63.20. The price recovery continued into early May, with the spot price briefly touching US$70, a nearly 10 percent gain from 2025 lows.

This rebound has renewed investor confidence and appears to signal the beginning of a steadier climb, underpinned by tight supply conditions, resurgent utility activity and greater clarity around US trade and tariff policy.

The uranium term price, which remains steady at US$80, continues to reflect strong long-term fundamentals. This persistent premium over spot pricing has re-energized the uranium carry trade — where traders purchase spot uranium for future delivery under term contracts — helping to support spot prices and inject fresh liquidity into the market.

A major contributor to the uranium market’s renewed confidence has been improved policy visibility in the US.

The Trump administration’s decision to pause the implementation of its new reciprocal tariffs for 90 days provided utilities with the breathing room needed to resume contracting.

Although uranium was excluded from the initial tariff package, it remains part of an ongoing Section 232 investigation into critical minerals, a move that Sprott believes elevates uranium’s strategic profile.

As for the long-term outlook, uranium’s bullish case is also being bolstered by growing power demands from artificial intelligence and data centers. In April, Google (NASDAQ:GOOGL) announced funding for three new nuclear projects, each with at least 600 megawatts of planned capacity.

These moves align with a broader US Department of Energy strategy that includes identifying 16 federal sites for co-locating data centers and new energy infrastructure.

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

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Here’s a quick recap of the crypto landscape for Wednesday (May 14) as of 6:00 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$103,243 as markets closed, down 1 percent in 24 hours. The day’s range for the cryptocurrency has seen a low of US$102,964 and a high of US$104,836.

Bitcoin performance, May 14, 2025.

Chart via TradingView.

Ethereum’s (ETH) price has stabilized since surging after the May 7 Pectra upgrade. ETH has increased by over 44 percent since last week and is up 57.2 percent month-on-month. It finished Wednesday at US$2,586.72, a 1 percent decrease over 24 hours. The day’s range saw a low of US$2,571.87 and a high of US$2,708.81.

Altcoin price update

  • Solana (SOL) closed at US$175.53, down 1.6 percent over 24 hours. SOL experienced a low of US$174.64 and a high of US$184.05.
  • XRP is trading at US$2.54, reflecting a slight 0.3 percent decrease over 24 hours. The cryptocurrency reached a daily low of US$2.63 and a high of US$2.55.
  • Sui (SUI) is priced at US$3.92, showing a decreaseof 2.6 percent over the past 24 hours. It achieved a daily low of US$3.88 and a high of US$4.08.
  • Cardano (ADA) is trading at US$0.7991, down 2.7 percent over the past 24 hours. Its lowest price of the day was US$0.7939, and it reached a high of US$0.8354.

Today’s crypto news to know

Strategy’s Bitcoin binge draws shock and skepticism

A new Financial Times documentary has reignited scrutiny over Strategy’s (NASDAQ:MSTR) high-risk Bitcoin accumulation strategy, which has transformed the software firm into a de facto Bitcoin investment vehicle.

The company has acquired over 568,000 BTC since 2020, funding the purchases through repeated stock sales and convertible bond issuances totaling over US$12 billion.

Insider Jeff Walton, a former reinsurance broker turned Strategy advocate, has called the firm’s capital-raising feat “insane,” highlighting how it raised the equivalent of US$100 million 120 times in just 50 days.

Critics also warn that the model’s success is contingent on sustained Bitcoin price growth; any prolonged downturn could unravel investor confidence and the firm’s market cap. Meanwhile, supporters argue the move is a master stroke in capital deployment, leveraging valuation premiums to secure more digital assets without diluting core equity value.

Strategy Chair Michael Saylor claims the firm’s balance sheet is “bulletproof,” stating that even a 90 percent Bitcoin drop held for half a decade would not destabilize the company.

Perplexity and PayPal team up to automate AI shopping

Artificial intelligence search startup Perplexity has entered into a partnership with payments giant PayPal (NASDAQ:PYPL) to enable seamless purchases directly within its chat interface.

Starting this summer in the US, users of Perplexity Pro will be able to book travel, buy tickets or purchase goods through a single query — without manually inputting payment information. Transactions will be processed behind the scenes using PayPal or Venmo, streamlining everything from checkout to invoicing while eliminating the need for passwords.

The companies are calling the deal a major leap for “agentic commerce.” The partnership is expected to integrate Perplexity’s tools into PayPal’s 430 million active accounts, dramatically expanding the reach of both platforms.

Backed by tech titans like Jeff Bezos, Nvidia, and SoftBank, Perplexity is also reportedly in talks to raise US$500 million in fresh capital at a US$14 billion valuation, showing investor confidence in the model.

Coinbase to join S&P 500

Coinbase Global (NASDAQ:COIN) will officially join the S&P 500 (INDEXSP:.INX) on May 19, replacing Discover Financial Services following its acquisition by Capital One Financial (NYSE:COF).

Shares of Coinbase surged 24 percent on the news, marking its largest single-day rally since November 2016. Analysts say inclusion in the S&P 500 not only legitimizes Coinbase’s role in the financial system, but could also drive as much as US$16 billion in fresh inflows from passive index funds, according to Bernstein.

The stock has also drawn new bullish forecasts, with Oppenheimer raising its target price to US$293 while maintaining an ‘outperform’ rating. This development comes on the heels of Coinbase’s strong first quarter earnings report, which beat earnings per share expectations, but slightly missed on revenue.

Coinbase recently announced plans to acquire crypto derivatives exchange Deribit for US$2.9 billion, a deal that represents the largest acquisition in the industry to date.

Thailand to issue US$150 million worth of digital investment tokens

Thailand’s finance ministry announced it will issue 5 billion baht (US$150 million) worth of blockchain-based “G-Tokens” within the next two months as part of the government’s borrowing strategy. The issuance follows cabinet approval, and will function as a market test to gauge public appetite for blockchain-based debt instruments.

Finance Minister Pichai Chunhavajira said the tokens will offer higher returns than traditional bank deposits, which currently yield between 1.25 and 1.5 percent — below the central bank’s 1.75 percent policy rate.

Retail investors will be able to participate with relatively small capital as the government aims to democratize access to high-yield investment tools. The initiative reflects growing enthusiasm within Thailand for blockchain innovation; last year, the country exempted crypto earnings from taxation and expanded stablecoin trading on local exchanges.

Robinhood to buy WonderFi for US$179 million

Robinhood Markets (NASDAQ:HOOD)has agreed to acquire Canadian crypto firm WonderFi (TSX:WNDR,OTCQB:WONDF) in an all-cash deal worth C$250 million (US$179 million).

WonderFi operates Bitbuy and Coinsquare — two of Canada’s largest registered crypto exchanges — with more than C$2.1 billion (US$1.5 billion) in assets under custody. The deal, expected to close in the second half of the year, marks Robinhood’s third major crypto acquisition following its purchases of Bitstamp and TradePMR in the past year.

WonderFi’s recent history has been tumultuous: its CEO Dean Skurka was kidnapped last year in a US$1 million ransom plot that ultimately cost the company US$3.6 billion in damages and security upgrades.

Canada Crypto Week in full swing in Toronto

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

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