Lithium Universe (LU7:AU) has announced Prospectus
Download the PDF here.
Lithium Universe (LU7:AU) has announced Prospectus
Download the PDF here.
Critical Metals
(NASDAQ:CRML) got a boost on Monday (June 16), landing a letter of interest
(LOI) for a non-dilutive US$120 million funding package from the Export-Import Bank of the US (EXIM).
The funds would be used to advance its Tanbreez rare earths project in Southern Greenland.
Touted as one of the world’s largest rare earths deposits, Tanbreez is expected to produce up to 85,000 metric tons of rare earth material annually, with more than 27 percent classified as heavy rare earth elements.
“This is a tremendous milestone for Critical Metals Corp which highlights to the rare earths supply chain, Western Governments and investors that Tanbreez is a world-class asset that will provide mission-critical rare earth metals to counter China’s continued dominance,” said Critical Metals CEO and Chairman Tony Sage.
The funding would support pre-production, technical studies and early mining activities. EXIM’s financing falls under its new Supply Chain Resiliency Initiative and comes with a 15 year repayment term.
Critical Metals acquired
a controlling stake in Tanbreez in June 2024 in a transaction valued at up to US$211 million. It expects the asset to require US$290 million in capital expenditure to advance to initial commercial production.
The US$120 million from EXIM would support key early stage work at Tanbreez, including technical and economic studies, pre-production activities and the start of mining operations.
The company is aiming to complete a definitive feasibility study by late 2025.
Critical Metals also plans to invest an additional US$10 million in exploration this year, giving it the option to increase its ownership in the project to 92.5 percent through the acquisition of a further 50.5 percent stake.
“We are now razor focused to put Tanbreez into production as soon as possible,’ said Sage
.
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
A court in Bamako has ordered the temporary transfer of operational control of Barrick Mining’s (TSX:ABX,NYSE:B) Loulo-Gounkoto gold-mining complex to a state-appointed administrator for six months.
The ruling, handed down on Tuesday (June 17) by the Tribunal de Commerce, empowers former health minister and certified accountant Soumana Makadji to run one of Barrick’s most lucrative global assets.
The company has described the move as “unjustified” and “unprecedented.”
According to Judge Issa Aguibou Diallo, the ruling was made under Article 160-1 of the OHADA corporate law framework, which allows a court to appoint a provisional administrator when the regular functioning of a company becomes impossible. The administrator, Makadji, is tasked with reopening the mine site, participating in negotiations with Barrick and reporting to the court on a quarterly basis — though not to the government.
Makadji is seen in Bamako as a technocrat with strong ethical credentials. His appointment is intended to stabilize operations at Loulo-Gounkoto, which Barrick suspended in January 2024 after the Malian government physically removed unsold gold from the mine and froze the company’s ability to export.
Despite the administrative change, Barrick maintains that its subsidiaries remain the legal owners of the mine.
In a statement released on Monday (June 16), the company emphasized that its “ongoing efforts to reach a constructive and sustainable resolution” have been met with escalatory actions by the state.
“While the company has made a number of good-faith concessions in the spirit of partnership, it cannot accept terms that would compromise the legal integrity or long-term viability of the operations,” Barrick said.
Barrick has already launched international arbitration proceedings at the World Bank’s International Center for Settlement of Investment Disputes, as per a May 29 Reuters article.
The company has asked the tribunal to declare that its Malian subsidiaries are protected under longstanding mining conventions, which it argues are not subject to retroactive legislative changes. Mali, however, contends that the convention covering Loulo expired in April 2023, subjecting it to the updated mining code.
The arbitration tribunal has now been formally constituted, and Barrick has filed a request for provisional measures to prevent Mali from further intervening until the dispute is resolved.
In February 2024, a tentative settlement appeared close. According to Jeune Afrique, Barrick had agreed in principle to pay 225 billion West African CFA francs (roughly US$396 million) in instalments, recognize the new 2023 mining code and convert Mali’s 20 percent equity stake in Loulo-Gounkoto into “priority shares.”
The government would in turn release the seized gold and free the detained executives.
But the deal collapsed. A Malian negotiator later claimed Barrick had signed the “wrong” agreement and warned the government had “the right to take control of the mines” if the company failed to resume operations.
The ruling junta, led by Colonel Assimi Goïta, has made resource nationalism a hallmark of its post-coup economic strategy. Since coming to power in 2020, the military-led regime has shown a willingness to pressure foreign firms to comply with state priorities, especially in strategic sectors like mining.
The Loulo-Gounkoto dispute is now emblematic of the wider uncertainty surrounding foreign investment in Mali, a country where gold accounts for over 70 percent of export earnings.
Loulo-Gounkoto is a cornerstone of Barrick’s global portfolio.
In 2023, the complex produced 723,000 ounces of gold, second only to Barrick’s Carlin mine in Nevada. It boasts remaining reserves of 7.3 million ounces, making it one of the largest high-grade gold systems in the world.
The financial implications of the shutdown are significant. Analysts warned in December that continued disruptions at the site could cut 11 percent from Barrick’s projected 2025 EBITDA.
Morningstar had earlier projected that Loulo-Gounkoto would contribute 250,000 ounces to Barrick’s output this year — an estimate now scrapped from the company’s 2025 guidance.
Further complicating matters, the permit for the Loulo section of the complex is set to expire in February 2025, just weeks after the six month provisional administration period ends. Barrick said it applied for a renewal four months ago, but has received no response from the government. The Gounkoto permit remains valid for another 17 years.
Barrick has said it remains committed to reaching a “mutually acceptable solution” and has appealed the court’s decision. But with no public comment from the Malian government and the provisional administrator now in place, a quick resolution appears unlikely.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Galan Lithium Limited (ASX:GLN) ( Galan or the Company ) is pleased to announce it has secured a binding commitment for a A$20 million placement ( Placement ) at A$0.11 per share, a 21% premium to the last closing price of A$0.091 as at 19 June 2025 from an existing shareholder, The Clean Elements Fund ( Clean Elements ). Additionally, Clean Elements will receive one unlisted option for every two shares issued under the Placement, with an exercise price of A$0.15 per option and an expiry date that is three years from the date of issue.
The Placement is subject to Clean Elements’ satisfactory completion of due diligence over a period not longer than 77 days. Full completion of the Placement will require shareholder approval which will be sought at a Galan general meeting, expected to be held in early September 2025 .
The Placement provides the final construction funding solution for Phase 1 (at 4ktpa LCE), of the Company’s world class Hombre Muerto West project ( HMW ) in Argentina , which will see production of lithium chloride concentrate in H1 2026.
Managing Director, Juan Pablo (JP) Vargas de la Vega, commented:
‘ We are extremely pleased to receive further support from Clean Elements. HMW is a world-class lithium project, offering exceptional scale and grade. This commitment from Clean Elements, priced at a significant premium to our last closing share price, reflects the value proposition provided by Galan.
To have executed this funding agreement whilst facing strong macro headwinds for the lithium industry is a huge achievement for Galan and further validates the unique attributes of HMW. With a clear pathway to first concentrate production, this support positions Galan to focus on execution. The next 12 months promise to be a transformational period for Galan and the team remains fully focussed on the creation of significant value for all shareholders.’
Clean Element’s Chairman, Ofer Amir, stated:
‘We are incredibly excited to partner with Galan Lithium on what we believe is one of the most compelling lithium opportunities in Argentina today. After extensive evaluation of the Argentinian lithium landscape, HMW stands out as an exceptional world-class asset with the rare combination of scale, grade, and execution capability that positions it to be a major force in the global lithium market. This investment represents Clean Elements’ confidence in Galan’s transformative potential and our shared vision of powering the clean energy revolution.
Our investment in Galan reflects our disciplined approach to identifying high-quality lithium assets with strong fundamentals and experienced management teams. Galan’s impressive resource base of 9.5 Mt LCE, combined with its low-cost position in the first quartile globally and proven operational track record in the Hombre Muerto Salar, aligns perfectly with our investment criteria. We were particularly impressed by Galan’s strategic partnership with Authium, which enhances project economics through innovative processing technology while securing offtake agreements that de-risk the path to production. We look forward to supporting Galan beyond Phase 1 as they execute their long term production growth plan towards 60 ktpa LCE.’
Details of the Placement
The Company has received binding commitments for a total of 181,818,182 shares at an issue price of A$0.11 per share. 90,909,091 options (exercisable at A$0.15 with a 3 year expiry from issue date) will also be issued.
The Placement is expected to settle in two tranches:
The proceeds of the Placement will be utilised to complete Phase 1 construction activities in H2 2025 required to realise first lithium chloride production in H1 2026. The Company notes that a US$ 6 million prepayment facility will be available to the Company under the terms of the offtake and prepayment agreement with Authium Limited ( Authium ) (see announcement https://shorturl.at/GaU0r) .
In light of the current market conditions, the Company decided to pursue the Placement, which was structured at a 21% premium to Galan’s last closing price. Despite efforts to secure debt funding, the prevailing economic environment has resulted in unfavourable terms and higher costs associated with debt. By opting for equity raising Galan will strengthen its balance sheet and minimise financing risk, whilst carrying no debt, as the Company brings HMW into production.
About Hombre Muerto West
HMW is a multi-decade, lithium brine project in Argentina with compelling economics. Phase 1 provides for a 4ktpa LCE operation, producing a 6% LiCl concentrate product over a projected 40-year life. Finalisation of Phase 1 and commencement of production is the key focus Galan. Beyond Phase 1, the Company will undertake a phased scaling approach, eventually ramping up to 60ktpa at the conclusion of Phase 4. This approach mitigates funding and execution risk and will allow for continuous process improvement.
With a world class resource and a cost profile within the first quartile globally, HMW is a clear demonstration of the benefits of a high-quality lithium brine asset. These benefits are allowing Galan to progress through development and into production with a lower capital intensity and lower risk profile when compared to hard rock lithium (spodumene) projects.
As importantly, lithium chloride is a key component for lithium iron phosphate (LFP) batteries, which have become the dominant battery product globally. With the ability to be cost effectively converted into a lithium dihydrogen phosphate or lithium carbonate, lithium chloride, as will be produced at HMW, is an ideal source for LFP batteries.
Please refer to Mineral Resource Statement for Galan’s Total Resources of 9.5Mt LCE.
The Galan Board has authorised this release.
For further information contact:
COMPANY |
MEDIA |
Juan Pablo (‘JP’) Vargas de la Vega |
Matt Worner |
Managing Director |
VECTOR Advisors |
jp@galanlithium.com.au |
mworner@vectoradvisors.au |
+ 61 8 9214 2150 |
+61 429 522 924 |
About Galan
Galan Lithium Limited (ASX:GLN) is an ASX-listed lithium exploration and development business. Galan’s flagship assets comprise two world-class lithium brine projects, HMW and Candelas, located on the Hombre Muerto Salar in Argentina , within South America’s ‘lithium triangle’. Hombre Muerto is proven to host lithium brine deposition of the highest grade and lowest impurity levels within Argentina . It is home to the established El Fenix lithium operation, Sal de Vida (both projects are operated by Arcadium Lithium) and Sal de Oro (POSCO) lithium projects. Rio Tinto is now in the process of acquiring Arcadium Lithium plc. Galan also has exploration licences at Greenbushes South in Western Australia , just south of the Tier 1 Greenbushes Lithium Mine.
About Clean Elements
Clean Elements is a private holding company specifically founded to pursue the development of high performing lithium assets in Argentina and globally. Clean Elements has a successful track record in investing in lithium brine assets, notably completing a financing transaction with NOA Lithium in 2024. Clean Elements is partnered with Swiss financial expert firm ISP Securities Ltd., part of the ISP Group, who is a leading Swiss financial service provider specializing in wealth management, asset management, securitisation and trading services. ISP Group has companies in Switzerland ( Zurich and Geneva ), Dubai , Hong Kong , and Israel .
Contact:
Ofer Amir
ofer@thecleanelements.com
+97254492777
View original content: https://www.prnewswire.com/news-releases/galan-lithium-limited-a20-million-placement-to-strategic-partner-302486923.html
SOURCE Galan Lithium Limited
News Provided by PR Newswire via QuoteMedia
Trading resumes in:
Company: Cygnus Metals Limited
TSX-Venture Symbol: CYG
All Issues: Yes
Resumption (ET): 8:15 AM
CIRO can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. CIRO is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada .
SOURCE Canadian Investment Regulatory Organization (CIRO) – Halts/Resumptions
News Provided by PR Newswire via QuoteMedia
Army Gen. Michael ‘Erik’ Kurilla is no stranger to conflict, especially in the Middle East.
Two decades ago as a lieutenant colonel, he was at the front lines of combat fighting off insurgents in Mosul, Iraq, while leading the 1st Battalion, 24th Infantry Regiment. The battalion’s mission was to conduct security patrols and coordinate offensive attacks against anti-Iraqi insurgents targeting Iraqi security forces and Iraqi police stations.
During Kurilla’s tenure leading the battalion, more than 150 soldiers earned the Purple Heart for injuries, and the battalion lost at least a dozen soldiers, The New York Times reported in August 2005.
‘There will always be somebody willing (to) pick up an AK-47 and shoot Americans,’ Kurilla told The New York Times in August 2005.
Kurilla did not complete that deployment unscathed. Later, in August 2005, Kurilla found himself caught in a Mosul, Iraq, firefight, where he sustained multiple gunshot wounds, earning him a Bronze Star with valor and one of his two Purple Heart awards.
Now, Kurilla is facing another battle as the commander of U.S. Central Command, or CENTCOM, serving as the top military officer overseeing U.S. military forces based in the Middle East.
That means Kurilla, who attended the U.S. Military Academy at West Point, is at the forefront of military operations as President Donald Trump contemplates whether to engage in military strikes against Iran’s nuclear sites.
CENTCOM is one of the U.S. military’s 11 combatant commands and encompasses 21 nations in the Middle East in its area of operations, including Iraq and Afghanistan.
Those familiar with Kurilla claim he’s the perfect person for the job, and Secretary of Defense Pete Hegseth described Kurilla as an uplifting leader.
‘General Kurilla is a bold, dynamic, and inspiring leader who strikes fear into the hearts of America’s enemies,’ Hegseth said in a statement Thursday to Fox News Digital. ‘He’s a warrior through and through who always puts his country, mission, and troops first. It has been an honor to serve alongside him in defense of our great nation.’
Retired Army Gen. Mark Milley, the former chairman of the Joint Chiefs of Staff, said in 2022 when Biden nominated Kurilla for the role that Kurilla is the ideal CENTCOM leader.
‘If there ever was some way to feed into a machine the requirements for the perfect leader of CENTCOM — the character traits, the attributes, the experiences, the knowledge and the personality that would be ideal — that machine would spit out Erik Kurilla,’ Milley said in 2022, according to the Defense Department. ‘Erik’s got vast experience in combat (and) on staffs.
‘He’s a visionary, he’s a thinker and he’s a doer,’ Milley said. ‘He understands both the physical and human terrain and is able to identify root causes of problems and develop systems. He’s not at all a linear thinker. He’s actually a very gifted problem-solver.’
Retired Marine Corps Gen. Frank McKenzie, Kurilla’s CENTCOM predecessor, voiced similar sentiments.
‘I can’t think of anybody better qualified to lead CENTCOM’s next chapter than Erik Kurilla,’ McKenzie said in 2022, according to the Pentagon. ‘He’s no stranger to the CENTCOM (area of operations). He’s no stranger to the headquarters.’
Notable figures who’ve previously filled the job leading CENTCOM include former defense secretaries, retired Gen. Jim Mattis, who served during Trump’s first term, and retired Gen. Lloyd Austin, who served during former President Joe Biden’s administration.
Fox News Digital reached out to CENTCOM, McKenzie and Milley for comment and did not get a response by the time of publication.
The region is familiar territory for Kurilla. The general spent a decade between 2004 and 2014 overseeing conventional and special operations forces during consecutive tours in the Middle East that fell under the CENTCOM purview.
Additionally, Kurilla has served in key CENTCOM staff and leadership positions, including serving as the command’s chief of staff from August 2018 to September 2019. Prior to leading CENTCOM, the general also commanded the 2nd Ranger Battalion, the 75th Ranger Regiment, the 82nd Airborne Division and the XVIII Airborne Corps, according to his official bio.
In addition to deploying to Iraq as part of Operation Iraqi Freedom and Operation Inherent Resolve, he deployed to Afghanistan with Operation Enduring Freedom. Other awards he’s earned include the Combat Infantryman Badge, awarded to Army infantry or special forces officers who’ve encountered active ground combat.
Kurilla, who the Senate confirmed to lead CENTCOM in February 2022 and will exit the role later in 2025, told lawmakers on the House Armed Services Committee June 10 that, since October 2023, when Hamas first attacked Israel, American service members have faced increased threats in the region.
Specifically, he said, U.S. troops have come under direct fire by nearly 400 unmanned aerial systems, 350 rockets, 50 ballistic missiles and 30 cruise missiles launched by Iranian-backed groups.
He said CENTCOM has encountered the ‘most highly kinetic period than at any other time in the past decade.’
‘We have been at the brink of regional war several times with the first state-on-state attacks between Iran and Israel in their history,’ Kurilla told lawmakers. ‘In the Red Sea, Houthi attempts to kill Americans operating in the Red Sea necessitated an aggressive response to protect our sailors and mariners and restore freedom of navigation. This is while Tehran is continuing to progress towards a nuclear weapons program — threatening catastrophic ramifications across the region and beyond.’
As a result, Kurilla said CENTCOM is prepared to use military force to prevent Iran from becoming a nuclear-armed state. Kurilla said he has provided Trump and Secretary of Defense Pete Hegseth a host of options to employ to eliminate the threat of a nuclear Iran.
Since Kurilla’s testimony, tensions have escalated even further in the Middle East after Israel kicked off massive airstrikes against Iran’s nuclear sites that Israel claims have killed several high-ranking military leaders. Likewise, Iran also launched strikes against Israel as the two ramp up military campaigns against one another.
Trump is still navigating whether the U.S. will conduct direct strikes against Iran. Trump told reporters he may order strikes targeting Iranian nuclear sites and that the ‘next week is going to be very big.’
‘Yes, I may do it. I may not do it. I mean, nobody knows what I’m going to do,’ Trump said. ‘I can tell you this, that Iran’s got a lot of trouble, and they want to negotiate.’
After a week of intense speculation about whether President Donald Trump will launch a strike on Iran in support of Israel’s efforts to eliminate the country’s nuclear weapons program, White House press secretary Karoline Leavitt announced there is a ‘substantial chance’ for renewed negotiations.
This comes as Iranian Foreign Minister Abbas Araghchi is reportedly scheduled to meet with European leaders in Geneva Friday.
Speaking with reporters in the White House press briefing room Thursday, Leavitt confirmed U.S. and Iranian officials have engaged in six rounds of direct and indirect negotiations during the conflict with Israel, which broke out June 13.
Leavitt, however, did not say whether U.S. Special Envoy Steve Witkoff, who has been leading the president’s negotiations with Iran, would be present for the meetings in Geneva.
Asked by Fox News Senior White House Correspondent Jacqui Heinrich whether the fact that Iranian officials had found a way to get to Geneva meant they could also get to the White House to engage in negotiations, Leavitt responded: ‘I am not going to get into hypotheticals, but as you heard from the president yesterday, they have expressed interest in doing so.’
Addressing the possibility of the U.S. becoming directly involved in the conflict, Leavitt read a message from the president saying, ‘Based on the fact that there’s a substantial chance of negotiations that may or may not take place with Iran in the near future, I will make my decision whether or not to go within the next two weeks.’
While she said Trump is hoping to find a diplomatic solution to the conflict, she said he has simultaneously been very ‘direct and clear’ that the terms of any deal with the country must include no enrichment of uranium, which would contribute to the Iranian nuclear program the president has long opposed.
She stressed the U.S. faces a serious threat due to Iran’s nuclear program, saying, ‘Iran has never been closer to obtaining a nuclear weapon.’
‘Iran has all that it needs to achieve a nuclear weapon. All they need is a decision from the supreme leader to do that,’ said Leavitt. ‘And it would take a couple of weeks to complete the production of that weapon, which would, of course, pose an existential threat not just to Israel, but to the United States and to the entire world.’
Nonetheless, Leavitt said, ‘Iran is absolutely not able to achieve a nuclear weapon. The president has been very clear about that. And, by the way, the deal that Special Envoy Witkoff proposed to the Iranians was both realistic and acceptable within its terms, and that’s why the president sent that deal to them.’
Leavitt emphasized Trump’s stance that Iran ‘can and should make a deal’ to end the conflict or ‘they will face grave consequences.’
‘Iran is in a very weak and vulnerable position because of the strikes and the attacks from Israel,’ she said. ‘We sent a deal to them that was practical, that was realistic.’
According to French outlet RFI, the talks Friday with the Iranians will include French Foreign Minister Jean-Noël Barrot, U.K. Foreign Secretary David Lammy, German Foreign Minister Johann Wadephul and European Union foreign policy chief Kaja Kallas.
The outlet reported Barrot saying, ‘France, Britain and Germany stand ready to bring our competence and experience on this matter’ and ‘we are ready to take part in negotiations aimed at obtaining from Iran a lasting rollback of its nuclear and ballistic missile programs.’
U.S. Secretary of State Marco Rubio met with Lammy Thursday. According to a statement by State Department spokesperson Tammy Bruce, the two discussed the Israeli-Iran conflict and ‘agreed Iran can never develop or acquire a nuclear weapon.
In response to additional questions about potential U.S. negotiations with Iran, a representative for the White House directed Fox News Digital to Leavitt’s comments in the briefing room.
President Donald Trump came back into office promising no new wars. So far, he’s kept that promise. But he’s also left much of Washington — and many of America’s allies — confused by a series of rapid, unexpected moves across the Middle East.
In just a few months, Trump has reopened backchannels with Iran, then turned around and threatened its regime with collapse. He’s kept Israel at arm’s length — skipping it on his regional tour — before signaling support once again. He lifted U.S. sanctions on Syria’s Islamist leader, a figure long treated as untouchable in Washington. And he made headlines by hosting Pakistan’s top general at the White House, even as India publicly objected.
For those watching closely, it’s been hard to pin down a clear doctrine. Critics see improvisation — sometimes even contradiction. But step back, and a pattern begins to emerge. It’s not about ideology, democracy promotion, or traditional alliances. It’s about access. Geography. Trade.
More specifically, it may be about restarting a long-stalled infrastructure project meant to bypass China — and put the United States back at the center of a strategic economic corridor stretching from India to Europe.
The project is called the India–Middle East–Europe Corridor, or IMEC. Most Americans have never heard of it. It was launched in 2023 at the G20 summit in New Delhi, as a joint initiative among the U.S., India, Saudi Arabia, the UAE and the European Union. Its goal? To build a modern infrastructure link connecting South Asia to Europe — without passing through Chinese territory or relying on Chinese capital.
IMEC’s vision is bold but simple: Indian goods would travel west via rail and ports through the Gulf, across Israel, and on to European markets. Along the way, the corridor would connect not just trade routes, but energy pipelines, digital cables, and logistics hubs. It would be the first serious alternative to China’s Belt and Road Initiative — a way for the U.S. and its partners to build influence without boots on the ground.
But before construction could begin, war broke out in Gaza.
The October 2023 Hamas attacks and Israel’s military response sent the region into crisis. Normalization talks between Saudi Arabia and Israel fell apart. The Red Sea became a warzone for shipping. And Gulf capital flows paused. The corridor — and the broader idea of using infrastructure to tie the region together — was quietly shelved.
That’s the backdrop for Trump’s current moves. Taken individually, they seem scattered. Taken together, they align with the logic of clearing obstacles to infrastructure. Trump may not be drawing maps in the Situation Room. But his instincts — for leverage, dealmaking and unpredictability — are removing the very roadblocks that halted IMEC in the first place.
His approach to Iran is a prime example. In April, backchannels were reopened on the nuclear front. In May, a Yemen truce was brokered — reducing attacks on Gulf shipping. In June, after Israeli strikes inside Iran, Trump escalated rhetorically, calling for Iran’s ‘unconditional surrender.’ That combination of engagement and pressure may sound erratic. But it mirrors the approach that cleared a diplomatic path with North Korea: soften the edges, then apply public pressure.
Meanwhile, Trump’s temporary distancing from Israel is harder to miss. He skipped it on his regional tour and avoided aligning with Prime Minister Netanyahu’s continued hard-line approach to Gaza. Instead, he praised Qatar — a U.S. military partner and quiet mediator in the Gaza talks — and signaled support for Gulf-led reconstruction plans. The message: if Israel refuses to engage in regional stabilization, it won’t control the map.
Trump also made the unexpected decision to lift U.S. sanctions on Syria’s new leader, President Ahmad al-Sharaa — a figure with a past in Islamist groups, now leading a transitional government backed by the UAE. Critics saw the move as legitimizing extremism. But in practice, it unlocked regional financing and access to transit corridors once blocked by U.S. policy.
Even the outreach to Pakistan — which angered India — fits a broader infrastructure lens. Pakistan borders Iran, influences Taliban-controlled Afghanistan, and maintains ties with Gulf militaries. Welcoming Pakistan’s military chief was less about loyalty, and more about leverage. In corridor politics, geography often trumps alliances.
None of this means Trump has a master plan. There’s no confirmed strategy memo that links these moves to IMEC. And the region remains volatile. Iran’s internal stability is far from guaranteed. The Gaza conflict could reignite. Saudi and Qatari interests don’t always align. But there’s a growing logic underneath the diplomacy: de-escalate just enough conflict to make capital flow again — and make corridors investable.
That logic may not be ideologically pure. It certainly isn’t about spreading democracy. But it reflects a real shift in U.S. foreign policy. Call it infrastructure-first geopolitics — where trade routes, ports and pipelines matter more than treaties and summits.
To be clear, the United States isn’t the only player thinking this way. China’s Belt and Road Initiative has been advancing the same model for over a decade. Turkey, Iran and Russia are also exploring new logistics and energy corridors. But what sets IMEC apart — and what makes Trump’s recent moves notable — is that it offers an opening for the U.S. to compete without large-scale military deployments or decades-long aid packages.
Even the outreach to Pakistan — which angered India — fits a broader infrastructure lens. Pakistan borders Iran, influences Taliban-controlled Afghanistan, and maintains ties with Gulf militaries.
For all his unpredictability, Trump has always had a sense for economic leverage. That may be what we’re seeing here: less a doctrine than a direction. Less about grand visions, and more about unlocking chokepoints.
There’s no guarantee it will work. The region could turn on a dime. And the corridor could remain, as it is now, a partially built concept waiting on political will. But Trump’s moves suggest he’s trying to build the conditions for it to restart — not by talking about peace, but by making peace a condition for investment.
In a region long shaped by wars over ideology and territory, that may be its own kind of strategy.
Democrats in Washington, D.C., are misrepresenting major criticisms of President Trump’s ‘big beautiful bill’ with incorrect facts, according to an expert who spoke to Fox News Digital this week as Trump’s budget reconciliation package is debated in Congress.
‘The bill doesn’t cut benefits for anyone who has income below the poverty line, anyone who is working at least 20 hours a week and not caring for a child, and people who are Americans,’ Jim Agresti, president and cofounder of Just Facts, told Fox News Digital in response to criticisms from Democrats and a handful of Republicans, including Sen. Josh Hawley, that Trump’s bill will cut Medicaid and disproportionately hurt the poor.
‘In other words, it cuts out illegal immigrants who are not Americans and fraudsters. So that narrative has no basis in reality. See, what’s been going on since the Medicaid program was started? Is that it’s been expanded and expanded and extended. You know, it got its start in 1966. And since that time, the poverty rate has stayed roughly level around 11% to 15%. While the portion of people in the United States on Medicaid has skyrocketed from 3% to 29%. Right now, 2.5 times more people are on Medicaid than are in poverty.’
Medicaid cuts and reform have been a major sticking point with Democrats, who have merged data from two new reports from the nonpartisan Congressional Budget Office (CBO) to back up claims that nearly 14 million would lose coverage. The White House and Republicans have objected, as not all the policy proposals evaluated were actually included in Republicans’ legislation, and far fewer people would actually face insurance loss.
Instead, Republicans argue that their proposed reforms to implement work requirements, strengthen eligibility checks and crack down on Medicaid for illegal immigrants preserve the program for those who really need it.
‘I agree,’ Dem. Rep. Jasmine Crockett said in response to a claim on CNN that Republicans ‘want poor people to die’ with Medicaid cuts.
Agresti told Fox News Digital that the Medicaid cuts are aimed at bringing people out of poverty and waste.
‘It’s putting some criteria down to say, ‘Hey, if you want this, and you’re not in poverty, you need to work,” Agresti said. ‘You need to do something to better your situation, which is what these programs are supposed to be, lifting people out of poverty, not sticking them there for eternity. So the whole idea is to get people working, give them an incentive. Hey, if you want to do better in life, and you want this Medicaid coverage, then you have to earn it.’
Independent Sen. Bernie Sanders has claimed the bill is a ‘death sentence for the working class,’ because it raises health insurance ‘copayments for poor people.’
Agresti called that claim ‘outlandish.’
‘First of all, the Big Beautiful Bill does not raise copayments on anyone who’s below the poverty line,’ he explained. ‘Now, for people who are above the poverty line, it requires states to at least charge some sort of copayment, and it also reduces, actually, the max copayment from $100 per visit to $35 per visit.’
Agresti went on to explain that under the current system, ‘people have basically free rein to just go to a doctor or an emergency room or any other place without any co-payment, and they’re not in poverty.’
‘What ends up happening is they waste a ton of money,’ Agresti said. ‘This has been proven through randomized control trials, which are the gold standard for social science analysis, where you have people in a lottery system, some people get the benefit, and some people don’t, and what you end up seeing is that people who don’t have to have skin in the game, abuse emergency rooms, they go there for a stuffy nose, rack up all this money, and it does nothing to improve their health. It’s just wasteful.’
In a statement to Fox News Digital, Sanders Communications Director Anna Bahr said, ‘Mr. Agresti’s facts here are simply incorrect.’
Sanders’ office added that ‘nearly half of all enrollees on the ACA exchanges are Republicans’ and pointed to the House-passed reconciliation bill that Sanders’ office argues ‘says that if a worker can’t navigate the maze of paperwork that the bill creates for Medicaid enrollees, they are barred from receiving ACA tax credits as well.’
‘But workers must earn at least $15,650 per year to qualify for tax credits on the ACA marketplaces – approximately equal to the annual income for a full-time worker earning the federal minimum wage.’
Sanders’ office also pointed to ‘CBO estimates that 16 million people will lose insurance as a result of the House-passed bill and the Republicans ending the ACA’s enhanced premium tax credits.’
Sanders’ office also reiterated that the House-passed bill makes a ‘fundamental change’ to copay for Medicaid beneficiaries, shifting from optional to mandatory.
‘While claiming that I’m ‘incorrect,’ Sanders’ staff fails to provide a single fact that shows the BBB cuts health care for poor working Americans,’ Agresti responded.
‘It’s especially laughable that they cite expanded Obamacare subsidies in this context, because people in poverty aren’t even eligible for them,’ Agresti continued. ‘After this ‘temporary’ Covid-era handout expires, people with incomes up to 400% of the federal poverty level — or $150,600 for a family of five — will still be eligible for this welfare program, although they will receive less.’
Agresti argued that the claim a ‘max $35 copay (for people who are not poor) ‘hurts working families’’ is not supported by research ‘which makes generalizations and merely cites ‘associations.”
‘As commonly taught in high school math, association doesn’t prove causation,’ Agresti said.
Sanders’ office told Fox News Digital, ‘Mr. Agresti seems to believe that a working family of four earning only $32,150 per year doesn’t deserve help affording their health care. Health care in the United States is more expensive than anywhere in the world. Terminating health care coverage for 16 million Americans and increasing health care costs for millions will make it harder for working people to afford the health care they need, even if Mr. Agresti doesn’t agree.’
Agresti also took issue with the narrative that cuts cannot be made to Medicaid without cutting benefits to people who are entitled to them.
‘The Government Accountability Office has put out figures that are astonishing, hundreds of billions of dollars a year are going to waste,’ Agresti said. ‘So, yeah, some criteria to make sure that doesn’t happen is a wise idea. Unfortunately, there is a ton of white-collar crime in this country, and this kind of crime is a white-collar crime. It’s not committed with a gun, or by robbing or punching someone, it’s committed by fraud, and there’s an enormous amount of it.
‘And the big, beautiful bill, again, seeks to rein that in by putting a criteria to make sure we’re checking people’s income, we’re checking their assets. A lot of these federal programs, government health care programs, they’ve stopped checking assets. So you could be a lottery winner sitting on $3 million in cash and have very little income. And still get children’s health insurance program benefits for your kids.’
Hawley said on Monday that he did not have a problem with some of the marquee changes to Medicaid that his House Republican counterparts wanted, including stricter work requirements, booting illegal immigrants from benefit rolls and rooting out waste, fraud and abuse in the program that serves tens of millions of Americans.
However, he noted that about 1.3 million Missourians rely on Medicaid and the Children’s Health Insurance Program (CHIP), and contended that most were working.
‘These are not people who are sitting around, these are people who are working,’ he said. ‘They’re on Medicaid because they cannot afford private health insurance, and they don’t get it on the job.’
‘And I just think it’s wrong to go to those people and say, ‘Well, you know, we know you’re doing the best, we know that you’re working hard, but we’re going to take away your health care access,’’ he continued.
Fox News Digital’s Diana Stancy and Alex Miller contributed to this report.
President Donald Trump came back into office promising no new wars. So far, he’s kept that promise. But he’s also left much of Washington — and many of America’s allies — confused by a series of rapid, unexpected moves across the Middle East.
In just a few months, Trump has reopened backchannels with Iran, then turned around and threatened its regime with collapse. He’s kept Israel at arm’s length — skipping it on his regional tour — before signaling support once again. He lifted U.S. sanctions on Syria’s Islamist leader, a figure long treated as untouchable in Washington. And he made headlines by hosting Pakistan’s top general at the White House, even as India publicly objected.
For those watching closely, it’s been hard to pin down a clear doctrine. Critics see improvisation — sometimes even contradiction. But step back, and a pattern begins to emerge. It’s not about ideology, democracy promotion, or traditional alliances. It’s about access. Geography. Trade.
More specifically, it may be about restarting a long-stalled infrastructure project meant to bypass China — and put the United States back at the center of a strategic economic corridor stretching from India to Europe.
The project is called the India–Middle East–Europe Corridor, or IMEC. Most Americans have never heard of it. It was launched in 2023 at the G20 summit in New Delhi, as a joint initiative among the U.S., India, Saudi Arabia, the UAE and the European Union. Its goal? To build a modern infrastructure link connecting South Asia to Europe — without passing through Chinese territory or relying on Chinese capital.
IMEC’s vision is bold but simple: Indian goods would travel west via rail and ports through the Gulf, across Israel, and on to European markets. Along the way, the corridor would connect not just trade routes, but energy pipelines, digital cables, and logistics hubs. It would be the first serious alternative to China’s Belt and Road Initiative — a way for the U.S. and its partners to build influence without boots on the ground.
But before construction could begin, war broke out in Gaza.
The October 2023 Hamas attacks and Israel’s military response sent the region into crisis. Normalization talks between Saudi Arabia and Israel fell apart. The Red Sea became a warzone for shipping. And Gulf capital flows paused. The corridor — and the broader idea of using infrastructure to tie the region together — was quietly shelved.
That’s the backdrop for Trump’s current moves. Taken individually, they seem scattered. Taken together, they align with the logic of clearing obstacles to infrastructure. Trump may not be drawing maps in the Situation Room. But his instincts — for leverage, dealmaking and unpredictability — are removing the very roadblocks that halted IMEC in the first place.
His approach to Iran is a prime example. In April, backchannels were reopened on the nuclear front. In May, a Yemen truce was brokered — reducing attacks on Gulf shipping. In June, after Israeli strikes inside Iran, Trump escalated rhetorically, calling for Iran’s ‘unconditional surrender.’ That combination of engagement and pressure may sound erratic. But it mirrors the approach that cleared a diplomatic path with North Korea: soften the edges, then apply public pressure.
Meanwhile, Trump’s temporary distancing from Israel is harder to miss. He skipped it on his regional tour and avoided aligning with Prime Minister Netanyahu’s continued hard-line approach to Gaza. Instead, he praised Qatar — a U.S. military partner and quiet mediator in the Gaza talks — and signaled support for Gulf-led reconstruction plans. The message: if Israel refuses to engage in regional stabilization, it won’t control the map.
Trump also made the unexpected decision to lift U.S. sanctions on Syria’s new leader, President Ahmad al-Sharaa — a figure with a past in Islamist groups, now leading a transitional government backed by the UAE. Critics saw the move as legitimizing extremism. But in practice, it unlocked regional financing and access to transit corridors once blocked by U.S. policy.
Even the outreach to Pakistan — which angered India — fits a broader infrastructure lens. Pakistan borders Iran, influences Taliban-controlled Afghanistan, and maintains ties with Gulf militaries. Welcoming Pakistan’s military chief was less about loyalty, and more about leverage. In corridor politics, geography often trumps alliances.
None of this means Trump has a master plan. There’s no confirmed strategy memo that links these moves to IMEC. And the region remains volatile. Iran’s internal stability is far from guaranteed. The Gaza conflict could reignite. Saudi and Qatari interests don’t always align. But there’s a growing logic underneath the diplomacy: de-escalate just enough conflict to make capital flow again — and make corridors investable.
That logic may not be ideologically pure. It certainly isn’t about spreading democracy. But it reflects a real shift in U.S. foreign policy. Call it infrastructure-first geopolitics — where trade routes, ports and pipelines matter more than treaties and summits.
To be clear, the United States isn’t the only player thinking this way. China’s Belt and Road Initiative has been advancing the same model for over a decade. Turkey, Iran and Russia are also exploring new logistics and energy corridors. But what sets IMEC apart — and what makes Trump’s recent moves notable — is that it offers an opening for the U.S. to compete without large-scale military deployments or decades-long aid packages.
Even the outreach to Pakistan — which angered India — fits a broader infrastructure lens. Pakistan borders Iran, influences Taliban-controlled Afghanistan, and maintains ties with Gulf militaries.
For all his unpredictability, Trump has always had a sense for economic leverage. That may be what we’re seeing here: less a doctrine than a direction. Less about grand visions, and more about unlocking chokepoints.
There’s no guarantee it will work. The region could turn on a dime. And the corridor could remain, as it is now, a partially built concept waiting on political will. But Trump’s moves suggest he’s trying to build the conditions for it to restart — not by talking about peace, but by making peace a condition for investment.
In a region long shaped by wars over ideology and territory, that may be its own kind of strategy.