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Google has eliminated more than one-third of its managers overseeing small teams, an executive told employees last week, as the company continues its focus on efficiencies across the organization.

“Right now, we have 35% fewer managers, with fewer direct reports” than at this time a year ago, said Brian Welle, vice president of people analytics and performance, according to audio of an all-hands meeting reviewed by CNBC. “So a lot of fast progress there.”

At the meeting, employees asked Welle and other executives about job security, “internal barriers” and Google’s culture after several recent rounds of layoffs, buyouts and reorganizations.

Welle said the idea is to reduce bureaucracy and run the company more efficiently.

“When we look across our entire leadership population, that’s mangers, directors and VPs, we want them to be a smaller percentage of our overall workforce over time,” he said.

The 35% reduction refers to the number of managers who oversee fewer than three people, according to a person familiar with the matter. Many of those managers stayed with the company as individual contributors, said the person, who asked not to be named because the details are private.

Google CEO Sundar Pichai weighed in at the meeting, reiterating the need for the company “to be more efficient as we scale up so we don’t solve everything with headcount.”

Google eliminated about 6% of its workforce in 2023, and has implemented cuts in various divisions since then. Alphabet finance chief Anat Ashkenazi, who joined the company last year, said in October that she would push cost cuts “a little further.” Google has offered buyouts to employees since January, and the company has slowed hiring, asking employees to do more with less.

Regarding the buyouts, executives at the town hall said that a total of 10 product areas have presented “Voluntary Exit Program” offers. They’ve applied to U.S.-based employees in search, marketing, hardware and people operations teams this year.

Fiona Cicconi, Google’s chief people officer, said at last week’s meeting that between 3% and 5% of employees on those teams have accepted the buyouts.

“This has been actually quite successful,” she said, adding “I think we can continue it.”

Pichai said the company executed the voluntary buyouts after listening to employees, who said they preferred that route to blanket layoffs.

“It’s a lot of work that’s gone into implementing the VEP program, and I’m glad we’ve done it,” Pichai said. “It gives people agency, and I’m glad to see it’s worked out well.”

Cicconi said one of the main reasons employees are taking the buyouts is because they want to take time off from work.

“It’s actually quite interesting to see who’s taking a VEP, and it’s people sort of wanting a career break, sometimes to take care of family members,” she said.

CNBC previously reported that the layoffs hurt morale as the company was downsizing while at the same time issuing blowout earnings and seeing its stock price jump. Alphabet’s shares are up 10% this year after climbing 36% in 2024 and 58% the year prior.

At another point in the town hall, employees asked if Google would consider a policy similar to Meta’s “recharge,” a month-long sabbatical that employees earn after five years at the company.

“We have a lot of leaves, not least our vacation, which is there for exactly that — resting and recharging,” said Alexandra Maddison, Google’s senior director of benefits.

She said the company is not going to offer paid sabbatical.

“We’re very confident that our current offering is competitive,” Maddison said.

Meta didn’t immediately respond to a request for comment.

Other executives jumped in to compare the two companies’ benefits.

“I don’t think they have a VEP at Meta by the way,” Cicconi said.

Pichai then asked, to some laughs from the audience, “Should we incorporate all policies of Meta while we’re at it? Or should we only pick and choose the few policies we like?”

“Maybe I should try running the company with all of Meta’s policies,” he continued. “No, probably not.”

This post appeared first on NBC NEWS

HIGHLIGHTS:

  • 30.20m grading 6.29g/t gold from 195.8m
  • 14.75m grading 13.6g/t gold from 153.5m
  • 20.95m grading 6.67g/t gold from 113.5m
  • 12.20m grading 8.72g/t gold from 344.5m
  • Consistent gold mineralization at the western end of the High Grade Panel
  • First results from a 15,000 metre program continuing throughout 2025

Heliostar Metals Ltd. (TSXV: HSTR,OTC:HSTXF) (OTCQX: HSTXF) (FSE: RGG1) (‘Heliostar’ or the ‘Company’) is pleased to announce its first results from the current 15,000 metre drill program at its 100% owned Ana Paula project in Guerrero, Mexico. The program has the primary goal of converting inferred ounces to higher confidence classifications, as well as supporting the ongoing Feasibility Study and testing the next exploration targets around the Ana Paula deposit.

Heliostar CEO, Charles Funk, commented, ‘In 2025, Heliostar will drill more metres than we have in our entire Company’s history. We intend to drill between 40,000-50,000 metres from the close of the mine acquisitions late last year to the end of 2025. This drilling is being funded by cashflows from our operating mines. We are particularly excited to be undertaking our largest program at Ana Paula. These first results highlight the consistency of gold mineralization at the High Grade Panel, where we have two rigs turning. One is focused on resource drilling to grow the resource and to convert inferred to higher confidence ounces, and the second is with a geotechnical focus to support the Feasibility Study. These are the first of consistent, drill results planned to be released monthly from Ana Paula through 2025 and into 2026.’

Drilling Program

Heliostar has two rigs turning with 18 holes completed and 5,556 metres drilled to date. Drilling is designed along north-south sections with angled holes to best define the overall east-west orientation of the High Grade Panel. Heliostar’s drilling approach at Ana Paula has been to rotate drilling by approximately 90 degrees from the majority of historic intercepts. This change has been interpreted by the Company to have contributed to demonstrating more continuous and higher-grade gold mineralization within the High Grade Panel than previous operators recognized.

Where appropriate, the holes are also being used to collect rock strength data, hydrogeologic data and samples for further metallurgical studies that will directly influence the Ana Paula mine design in the ongoing Feasibility Study.

Drill Results Summary

Holes AP-25-323 and AP-25-325 are resource conversion holes drilled at the western end of the High Grade Panel. Hole AP-25-323 was drilled further west than the most prospective polymictic breccia host unit and still returned a number of attractive intercepts, including 12.2 metres (‘m’) grading 8.73 grams per tonne (‘g/t’) gold from 344.5 m.

AP-25-325 is located ~30m southeast of AP-25-323 and intercepted the favourable breccia host unit. The hole returned a wide, high-grade interval of 30.2 m grading 6.29 g/t gold from 195.8 m and a number of deeper intercepts that have the potential to expand the resource, including 4.5 m grading 12.6 g/t gold from 277.5 m downhole beneath the High Grade Panel.

Holes AP-25-322 and AP-25-324 are geotechnical holes for mine development planning and returned assay results in line with expectations, including a hit of 14.75 m grading 13.6 g/t gold from 153.5 m in AP-25-322.

Drilling continues at the less well-defined western edge of the High Grade Panel, with results from three additional holes pending from this area. Recently, drilling has been focused in the centre of the High Grade Panel with assays from seven holes pending from this area.

The next Ana Paula drill results are anticipated to be released in mid- to late September.

Figure 1: Plan Map of the current drill program at Ana Paula

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7729/264051_510b159934e6b936_003full.jpg

Figure 2: Cross-Section through hole AP-25-325

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7729/264051_510b159934e6b936_004full.jpg

Drilling Results and Coordinates Tables

Hole ID From
(metres)
To
(metres)
Interval
(metres)
Au
(g/t)
Topcut
Au (to 
64 g/t)
Hole
Purpose
AP-24-322 21.8 43.0 21.2 3.77 Geotechnical Hole
and 113.5 134.45 20.95 6.67
and 153.5 168.25 14.75 13.6 11.6
including 164.4 168.25 3.85 45.1 37.2
and 245.2 255.75 10.55 2.14
AP-24-323 195.5 199.5 4.0 7.81 Resource Hole
and 224.5 235.5 11.0 2.26
and 344.5 356.7 12.2 8.72
including 353.0 356.7 3.7 24.4
AP-25-324 52.0 65.2 13.2 2.73 Geotechnical Hole
including 64.15 65.2 1.05 18.4
AP-25-325 81.4 94.5 13.1 2.10 Resource Hole
and 195.8 261.0 65.2 3.81
including 195.8 226.0 30.2 6.29
and 277.5 282.0 4.5 12.6
and 295 301.0 6.0 2.25
and 369.6 371.9 2.3 6.43

 

Table 1: Significant Drill Intersections

Drilling Coordinates Table

Hole ID Easting
(WGS84 Zone 14N)
Northing
(WGS84 Zone 14N)
Elevation
(metres)
Azimuth
(°)
Inclination
(°)
Length
(metres)
AP-25-322 410,129 1,998,045 924.3 180 -55 269.4
AP-25-323 410,055 1,998,154 954.2 180 -55 431.0
AP-25-324 410,205 1,998,017 932.4 180 -50 59.4
AP-25-325 410,080 1,998,140 950.2 180 -55 392.0

 

Table 2: Drill Hole Details

Quality Assurance / Quality Control

Drill core is PQ size, and the core is cut in half, with half sent for analysis. Core samples were shipped to ALS Limited in Zacatecas, Zacatecas, Mexico, for sample preparation and for analysis at the ALS laboratory in North Vancouver. The Zacatecas and North Vancouver ALS facilities are ISO/IEC 17025 certified. Gold was assayed by 30-gram fire assay with atomic absorption spectroscopy finish, and overlimits were analyzed by 30-gram fire assay with gravimetric finish.

Control samples comprising certified reference and blank samples were systematically inserted into the sample stream and analyzed as part of the Company’s quality assurance / quality control protocol.

True widths are not reported as mineralization at Ana Paula occurs as disseminations or vein stockworks with variable controls, including rock porosity, lithology and fault networks.

Statement of Qualified Person

Stewart Harris, P.Geo., a Qualified Person, as such term is defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein. Mr Harris is employed as Exploration Manager of the Company.

About Heliostar Metals Ltd.
Heliostar is a gold mining company with production from operating mines in Mexico. This includes the La Colorada Mine in Sonora and the San Agustin Mine in Durango. The Company also has a strong portfolio of development projects in Mexico and the USA. These include the Ana Paula project in Guerrero, the Cerro del Gallo project in Guanajuato, the San Antonio project in Baja Sur and the Unga project in Alaska, USA.

FOR ADDITIONAL INFORMATION, PLEASE CONTACT:

Charles Funk
President and Chief Executive Officer
Heliostar Metals Limited
Email: charles.funk@heliostarmetals.com
Phone: +1 844-753-0045
Rob Grey
Investor Relations Manager
Heliostar Metals Limited
Email: rob.grey@heliostarmetals.com
Phone: +1 844-753-0045

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain ‘Forward-Looking Statements’ within the meaning of the United States Private Securities Litigation Reform Act of 1995 and ‘forward-looking information’ under applicable Canadian securities laws. When used in this news release, the words ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘target’, ‘plan’, ‘forecast’, ‘may’, ‘would’, ‘could’, ‘schedule’ and similar words or expressions, identify forward-looking statements or information. These forward-looking statements or information relate to, among other things, show the full extent of the deposit, upgrade and expand the resource base, growing our annual production profile in the near term and bringing additional production online.

Forward-looking statements and forward-looking information relating to the terms and completion of the Facility, any future mineral production, liquidity, and future exploration plans are based on management’s reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the receipt of necessary approvals, price of metals; no escalation in the severity of public health crises or ongoing military conflicts; costs of exploration and development; the estimated costs of development of exploration projects; and the Company’s ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.

These statements reflect the Company’s respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political, and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: precious metals price volatility; risks associated with the conduct of the Company’s mining activities in foreign jurisdictions; regulatory, consent or permitting delays; risks relating to reliance on the Company’s management team and outside contractors; risks regarding exploration and mining activities; the Company’s inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of public health crises; the economic and financial implications of public health crises, ongoing military conflicts and general economic factors to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company’s interactions with surrounding communities; the Company’s ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption ‘Risk Factors’ in the Company’s public disclosure documents. Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/264051

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

An upcoming iPhone update is raising alarms among Republican fundraisers who say a new text filtration system set to hit the market in September will disproportionately block conservative fundraising and voter outreach efforts, echoing past Big Tech controversies that put a target on the backs of GOP voters. 

‘It’s no surprise that Big Tech wants to stop Donald Trump and other Republicans from communicating with people, because they’ve tried every other method to interfere already,’ Sean Dollman, founding partner of American Made Media Company, the parent company of Launchpad Strategies, which was the exclusive digital firm for Trump 2024, told Fox News Digital. 

‘Big Tech has suppressed him, suspended him, and banned him outright. And now they’re trying to make it so he can’t text anybody either. But MAGA won’t be stopped, and MAGA will always find a way.’

Apple is expected to roll out its latest update, iOS 26, in September, which will include an updated text filtration system that siphons text messages from unknown numbers that have no chat history with the recipient to a separate message folder that will not generate an alert to the recipient, leaders from American Made Media Company and Launchpad explained to Fox News Digital of the upcoming update. Text messages from known numbers saved on an individual’s phone are expected to continue alerting recipients and sending the messages to their typical text app. 

Launchpad Strategies served as the Trump 2024 campaign’s exclusive digital firm handling online advertising and consulting during Trump’s decisive victory over former Vice President Kamala Harris, and continues operating as a ‘full-service Republican digital agency dedicated to helping campaigns win,’ according to its website. 

Launchpad raised $509 million for the Trump campaign in 2024 and an additional $18 million in funds from 40 other clients during the massive 2024 election year, Fox Digital learned. 

The update could affect election cycles themselves, as text messages concerning voter registration and campaign rallies are expected to also be punted to this new folder, according to fundraisers. 

Data from the 2024 election cycle showed Republicans leveraged text campaigns two-to-one compared to Democrats, putting them directly in the line of fire when the expected update takes effect in September — ahead of the midterms hitting a fever pitch as Democrats look to flip the House and Senate from Republican control.

The text filtration’s scope is expected to extend far beyond just politics, including potentially siphoning texts concerning real-life issues such as doctor appointments from a number not saved in a person’s phone. 

The National Republican Senate Committee, which serves as the Senate Republican’s campaigning arm, circulated an internal memo in July sounding the alarm that the iOS update could cost Republicans more than $25 million in revenue, Punchbowl News reported at the time. 

Apple filtering texts from unknown numbers is not new, with such a program already used within the current iOS 18 systems. The current filtration system is by default not activated until a user toggles a button within the ‘settings’ app. 

The iOS 26 update is also currently available to the public for beta testing, the outlet Fast Company reported in July. 

Under the new update, the filtration system will be renamed to ‘Screen Unknown Senders,’ but will use ongoing criteria to kick text messages to another folder, specifically: if the iPhone owner does not have a contact saved in their phone and if the user has never interacted with the unknown phone number trying to contact them, according to Fast Company. 

The visibility of the texts from unknown senders will get a facelift under the new update, with the filtered messages from unknown senders made more easily seen by users with a new filtration button at the top of Apple’s Messages app that will display a blue badge noting how many unread texts an iPhone user has received from unknown numbers, according to the Fast Company report, which sought to quell Republican fundraising concerns over the update. 

Fox News Digital reached out to Apple for comment on Monday. 

History repeating itself is of top concern to Republican fundraisers, who pointed to a seemingly similar filtration system with Gmail messages that first hit the public’s radar in 2022. Studies at the time found Gmail allowed the vast majority of emails from left-wing politicians to land in a user’s inbox, while more than two-thirds of messages from conservative candidates were marked as spam, according to data from North Carolina State University’s Department of Computer Science that was previously reported by Fox News Digital. 

The Gmail filtration system resulted in a $2 billion loss for Republican candidates between 2019 and 2022, Fox News Digital reported in April 2022 citing research from the Republican National Committee, National Republican Congressional Committee, National Republican Senate Committee.

‘Big Tech has been silencing conservative voices and actively working against Republicans for multiple cycles. Google’s e-mail suppression – which affects the GOP’s fundraising and GOTV efforts – is another egregious example. Silicon Valley oligarchs are suppressing free political speech,’ then-RNC Chairwoman Ronna McDaniel, then-NRSC Chairman Senator Rick Scott and then-NRCC Chairman Congressman Tom Emmer said in a joint statement back in 2022, Fox News Digital reported at the time. 

The research found that between 2019 and 2020, conservative candidates raised $737 million on Republican fundraising platform WinRed from Gmail. The data found that just 32% of fundraising emails actually reached recipients, with Republicans estimating they missed out on $1.5 billion in contributions during the 2020 election cycle alone. 

The update comes as the Democrat Party is in turmoil following the 2024 race, which saw former President Biden drop out of the election cycle with just over 100 days to go before passing the proverbial mantle to Vice President Kamala Harris before the loss to Trump. The party has since attempted to find its political footing after an exodus of the working-class vote to the GOP in 2024 and voters rejecting left-wing policies, most notably surrounding social issues. 

Republican fundraisers are already working on workarounds for the expected update, including having recipients add fundraising numbers to their phones. 

Screenshots of fundraising text messages reviewed by Fox News Digital in 2025 show texts touting Trump’s name, accompanied by messages that ask recipients to add the number to their contacts or respond to the text to build a chat history. 

The texts include messages such as, ‘From Trump: Did you save my number yet?’ or ‘Download the Trump Contact Card to add me to your address book’ or other interactive texts such as, ‘Trump: If you had 5 minutes with me, what would you say? No links. I just want your reply below.’ 

This post appeared first on FOX NEWS

Frontier Airlines is going after customers of Spirit Airlines, whose financial footing has gotten so shaky in recent weeks that it warned earlier this month it might not be able to survive another year without more cash.

Frontier on Tuesday announced 20 routes it plans to start this winter, many of them in major Spirit markets like its base at Fort Lauderdale International Airport in Florida. Frontier overlaps with Spirit on 35% of its capacity, more than any other airline, according to a Monday note from Deutsche Bank airline analyst Michael Linenberg.

Some of Frontier’s new routes from Fort Lauderdale include flights to Detroit, Houston, Chicago and Charlotte, North Carolina. It’s also rolling out routes from Houston to New Orleans; San Pedro Sula, Honduras; and Guatemala City.

Frontier had tried and failed to merge with its budget airline rival several times since 2022.

“I’m not here to talk about M&A,” Frontier CEO Barry Biffle said in an interview with CNBC on Tuesday when asked whether Frontier would buy Spirit. Biffle said he expects that Frontier would pick up the majority of Spirit’s market share if Spirit collapsed.

Both carriers have struggled from changing customer tastes for more upmarket seats and trips abroad, an oversupply of domestic capacity, and higher labor and other costs. Spirit’s situation has become more dire however, after it emerged from four months of bankruptcy protection in March facing many of the same problems.

Ultra-low-cost airlines are also challenged by larger rivals like United Airlines, American Airline and Delta Air Lines that have rolled out their own no-frills basic economy tickets but also offer customers bigger choices of destinations and other perks onboard like snacks and beverages.

Stock prices of rival airlines surged after Spirit’s warning earlier this month.

Biffle said the carrier wants to become the country’s largest budget airline and has rolled out loyalty matching programs to grab more customers. Frontier’s capacity was slightly smaller than Spirit’s in the second quarter, through the latter had slashed its flying by nearly 24% from a year earlier, while Frontier was down only 2%.

Spirit last week said it drew down the entire $275 million of its revolver and while it reached a two-year extension on its credit card processing agreement with U.S. Bank N.A., it agreed that it would hold back up to $3 million a day from the carrier.

The airline lost $245.8 million in the second quarter. Frontier lost $70 million.

Spirit has been looking for ways to slash costs, including furloughing and demoting hundreds more pilots and cutting unprofitable routes. Hundreds of flight attendants are on unpaid leaves of absence.

Spirit CEO Dave Davis said in an Aug. 12 staff memo after its “going concern” warning that “the team and I are confident that we can build a Spirit that will continue to provide consumers the unmatched value that they have come to expect for many years to come.”

The carrier reached a deal with bondholders who agreed to convert debt to equity in its Chapter 11 bankruptcy, but it didn’t cut other costs like renegotiating aircraft leases. Leasing firms have been reaching out to rivals in recent weeks to gauge whether competitors would take any of the Airbus planes that are in Spirit’s hands, according to people familiar with the matter, who asked to speak anonymously because the talks were private.

— CNBC’s Phil LeBeau contributed to this report.

This post appeared first on NBC NEWS

Phosphate is mainly used in the form of fertilizer for crops and animal feed supplements. Only 5 percent of world phosphate production is used for other applications, such as corrosion prevention and detergents.

In its 2025 Mineral Commodity Summary, the US Geological Survey (USGS) states that global production of phosphate grew in 2024 alongside demand, totaling 240 million metric tons. Most of 2024 was marked by steady growth in agricultural demand in the face of declining quality reserves.

‘World consumption of P2O5 contained in fertilizers was estimated to have been 47.5 million tons in 2024 compared with 45.8 million tons in 2023,’ the USGS reported. ‘World consumption of P2O5 in fertilizers was projected to increase to 51.8 million tons by 2028. The leading regions for growth were expected to be Asia and South America.’

This list of the top phosphate countries by production is based on data from the USGS. Those interested in the phosphate mining sector will want to keep an eye on phosphate production data and mining companies in these countries.

1. China

Phosphate production: 110 million metric tons
Phosphate reserves: 3.7 billion metric tons

China’s phosphate production increased in 2024 to 110 million metric tons (MT), up from 105 million MT in 2023, placing it as number one on the list of top phosphate-producing countries by a long shot. China has the second largest phosphate reserves in the world at 3.7 billion metric tons of phosphate. The country is also the fourth largest producer of fellow fertilizer mineral potash.

The rise in Chinese output came in despite of the nation’s environmental crackdown on the mining industry. China’s government has placed restrictions on phosphate exports in an effort to drive down domestic prices of the fertilizer with its own supply. In December 2024, China halted new export applications for phosphate due to the rising cost of sulfur. The material is critical in the separation of phosphates from rock.

2. Morocco

Phosphate production: 30 million metric tons
Phosphate reserves: 50 billion metric tons

As the second largest phosphate-producing country, Morocco produced 30 million metric tons of the fertilizer in 2024, down from 33 million MT in the previous year. The North African nation’s phosphate output is expected to increased in the coming years due to ongoing capacity expansions, which are expected to be completed by 2027.

Morocco’s phosphate production comes from state-owned fertilizer company OCP Group’s mines, including its Gantour operation, one of the world’s largest phosphate mines.

Morocco holds the world’s largest phosphate reserves at 50 billion metric tons, accounting for over 67 percent of total global phosphate reserves.

3. United States

Phosphate production: 20 million metric tons
Phosphate reserves: 1 billion metric tons

In 2024, US phosphate mining production totaled 20 million metric tons, up slightly by 400,000 metric tons from the previous year. The nation’s 10 producing phosphate mines are located across four states: Florida, North Carolina, Idaho and Utah.

The two largest phosphate mining companies in the US are Mosaic (NYSE:MOS) and Nutrien (TSX:NTR). Global giant Mosaic’s Florida phosphates operation comprises three producing mines: Four Corners, South Fort Meade and Wingate. The three mines combined for 8,900 MT of phosphate rock concentrate in 2024. Nutrien operates the Aurora mine in North Carolina and White Springs mine in Utah.

Most phosphate rock mined in the US is used for manufacturing phosphoric acid and superphosphoric acid. These types of wet-process phosphate products are used for items such as animal feed supplements. About a quarter of this is exported in the form of merchant-grade phosphoric acid, upgraded granular diammonium and monoammonium phosphate fertilizer, as well as other fertilizer products, according to the USGS.

4. Russia

Phosphate production: 14 million metric tons
Phosphate reserves: 2.4 billion metric tons

Russia produced 14 million metric tons of phosphate in 2024, down by 1 million MT from the previous year, and the country’s phosphate reserves total 2.4 billion metric tons. Russia is also the second largest producer of potash.

A significant portion of Russia’s phosphate is produced by PhosAgro subsidiary Apatit from apatite minerals at the Khibiny deposit, which is located east of Finland in Russia’s Kola Peninsula. Phosphate operations are also found in Perm Krai at the Oleniy Ruchey apatite mine and processing facility owned by the Acron Group’s North-Western Phosphorous Company.

European nations were previously Russia’s biggest phosphate customers in the global market, but the country’s war in Ukraine initially had an impact, directly influencing phosphate prices. However, Russian phosphate exports were supported through increases in shipments to countries including India and Brazil.

5. Jordan

Phosphate production: 12 million metric tons
Phosphate reserves: 1 billion metric tons

Jordan’s phosphate production came in at 12 million metric tons in 2024, rising slightly from the previous year. Jordan’s phosphate reserves stand at an estimated 1 billion MT.

The country’s sole phosphate producer is state-owned Jordan Phosphate Mines Company, which operates as a phosphate miner and fertilizer producer. The company bills itself as the second largest phosphate exporter and the sixth largest producer of phosphate in the world, with combined production capacity between its three mines exceeding 11 million metric tons of phosphate annually.

6. Saudi Arabia

Phosphate production: 9.5 million metric tons
Phosphate reserves: 1 billion metric tons

Saudi Arabia produced 9.5 million metric tons of phosphate in 2024, down by 400,000 MT from 2023’s output level. The country is sitting on 1 billion MT of phosphate reserves. The Saudi Arabian Mining Company, also known as Ma’aden, produces up to 5 million metric tons of concentrated phosphate rock per year.

The Wa’ad Al Shamal Minerals Industrial City, an integrated phosphate fertilizer production complex, is a US$8 billion joint venture investment between Ma’aden at 60 percent, chemical manufacturer Saudi Basic Industries (TADAWUL:2010) at 15 percent and US fertilizer giant Mosaic at 25 percent. However, in January 2025, Mosaic sold its stake for US$1.5 billion in Ma’aden shares, bringing the latter company’s interest to 85 percent.

7. Brazil

Phosphate production: 5.3 million metric tons
Phosphate reserves: 1.6 billion metric tons

Brazil, another of the top phosphate countries by production, produced 5.3 million metric tons of phosphate in 2024, nearly on par with its production in the previous year. Brazil has a booming agricultural sector and is one of the world’s largest fertilizer consumers and importers. More phosphate production capacity in the country is expected to come online in 2027.

Mosaic is the country’s largest producer of both phosphate and nitrogen, and it also operates Brazil’s only potash mine. Swedish fertilizer company Eurochem launched a new US$1 billion phosphate fertilizer production facility in the State of Minas Gerais, Brazil, in April 2024. The facility has a phosphate mine and plant complex with an annual production capacity of 1 million MT of advanced phosphate fertilizers.

8. Egypt

Phosphate production: 5 million metric tons
Phosphate reserves: 2.8 billion metric tons

Egypt’s phosphate-mining production in 2024 totalled 5 million metric tons, on par with 2023 output levels. According to the US Geological Survey, Egypt’s phosphate reserves now sit at 2.8 billion MT.

The phosphate company Misr Phosphate operates the Abu Tartour, the Sibaiya and the Red Sea mines, all of which host high grades of phosphate.

9. Peru

Phosphate production: 4.7 million metric tons
Phosphate reserves: 210 million metric tons

Peru produced 4.7 million metric tons of phosphate in 2024, down by 300,000 MT from the previous year. About 98 percent of US phosphate imports originate from Peru.

Peru’s investment agency ProInversión made a US$940 million commitment in mid-2024 for the expansion Fosfatos del Pacífico’s Bayóvar mine in the Piura region, which is expected to bolster the country’s domestic phosphate production for the next 10 years.

10. Tunisia

Phosphate production: 3.3 million metric tons
Phosphate reserves: 2.5 billion metric tons

Tunisia’s phosphate output in 2024 totaled 3.3 million metric tons, down from 3.6 million metric tons the previous year. Tunisia is home to the fourth highest phosphate reserves in the world at 2.5 billion metric tons.

The North African country has been rising among the ranks of the world’s largest phosphate producing nations. In 2023 Tunisia’s state-owned phosphate firm Gafsa Phosphate Company ramped up its production as part of its US$76 million investment program.

FAQS for phosphate

What are phosphates?

Phosphates are compounds that usually include phosphorous and oxygen, and can have one or more common elements, such as sodium, calcium, potassium and aluminum.

Where are phosphate compounds found?

Phosphate is mostly found in phosphate rock, a non-detrital sedimentary rock that contains high amounts of phosphate minerals. Phosphate rock can come in different forms such as quartz, calcite, dolomite, apatite, iron oxide minerals and clay minerals.

Is phosphate the same as phosphorus in fertilizer?

Phosphate is the natural source of phosphorous, which provides essential nutrients for plant growth and development.

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

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I asked Donald Trump the question. Everyone asked Donald Trump the question.

Would he engage in retribution in a second term?

And we all got the same answer: He’d be too busy for that. His only retribution would be success.

Well, if Trump is not engaged in turning government against his political enemies, he’s doing a pretty good imitation of it.

Now, hardball politics is as old as the republic. The founders engaged in it. Abe Lincoln engaged in it. And you think LBJ never got his way by threatening to pull a grant or two for a congressman’s pet projects?

Look, one thing I’ve learned covering Trump for decades is that he loves to fight. In New York, back in the day, he would do battle with the likes of Ed Koch and Leona Helmsley, the ‘Queen of Mean.’

When his divorce from Ivana became a tabloid sensation, Trump got on the phone with me to discuss why his proposed settlement was really generous.

We see that fighting instinct today when the president goes after not just Democrats but fellow Republicans who defy him, or won’t back his proposals – a number of whom have announced their retirements rather than lose a primary to a Trump-backed challenger.

We see that Trump-against-the-world approach with his crackdown on D.C. crime  which, despite the home-rule issues, is being welcomed by some liberals (publicly and privately) because folks are scared in a city that can’t even stop teenage carjackings.

The next target is Chicago, which also has a Black mayor, with the Washington Post reporting that there has been weeks of secret planning to send thousands of National Guard troops there. Illinois Gov. J.B. Pritzker has denounced this as an effort to spread fear, and sometimes it seems like the president is at war with urban America.

The underlying motivation is crucial: Trump believes that the Democrats waged ‘lawfare’ against him for four years. There is no evidence that President Biden ordered such efforts, but Trump is convinced that the multiple investigations against him–as in the Stormy Daniels case–were part of a grand scheme to knock him out of the race.

And he has a point. Look at the outrageously illegal fine that Judge Arthur Engoron hit him with in the civil fraud case brought by New York AG Letitia James: $354 million, since grown to $515 million.

This was so blatantly unfair that an appellate court just threw it out as a violation of the Eighth Amendment, barring cruel and unusual punishment. James is appealing, and the court didn’t toss the whole case–the ‘fake’ case, says Trump–but a half-billion-fine over real estate valuations seems pathetically unfair.

But when Trump cried foul, the media reaction was there he goes again, attacking every judge who disagrees with him. But Trump was right about Engoron.

The Trump DOJ, by the way, is now investigating Tish James for allegations of mortgage fraud.

So what the press sees as Trump going after his opponents is, in his eyes, just basic payback, an attempt at getting even.

Having said that…

‘I just watched Sloppy Chris Christie be interviewed on a ratings challenged ‘News’ Show…on ABC Fake News,’ ‘This Week’ hosted by George Stephanopoulos.
‘Can anyone believe anything that Sloppy Chris says? Do you remember the way he lied about the dangerous and deadly closure of the George Washington Bridge in order to stay out of prison, at the same time sacrificing people who worked for him, including a young mother, who spent years trying to fight off the vicious charges against her. Chris refused to take responsibility for these criminal acts. For the sake of JUSTICE, perhaps we should start looking at that very serious situation again?’

Christie, a onetime ally, was Trump’s harshest Republican critic during the campaign. As for the 2013 scandal known as Bridgegate, it was thoroughly investigated and two top Christie aides were convicted, but the Supreme Court, while blasting the conduct, overturned those convictions.

It’s worth pointing out that the decision to close some lanes on the George Washington Bridge, which created traffic chaos, was the governor’s attempt to strike back at a Democratic mayor who refused to endorse him.

‘Time for some traffic problems in Fort Lee,’ wrote one of the convicted aides in a remarkably succinct message.

‘I always thought he got away with murder,’ Trump told reporters yesterday.

Having watched the Sunday shows, the president unloaded on two networks:

‘Despite a very high popularity and, according to many, among the greatest 8 months in Presidential History, ABC & NBC FAKE NEWS, two of the worst and most biased networks in history, give me 97% BAD STORIES. IF THAT IS THE CASE, THEY ARE SIMPLY AN ARM OF THE DEMOCRAT PARTY AND SHOULD, ACCORDING TO MANY, HAVE THEIR LICENSES REVOKED BY THE FCC. I would be totally in favor of that because they are so biased and untruthful, an actual threat to our Democracy!!!’

He added that ABC and NBC should be paying ‘Millions of Dollars a year in LICENSE FEES…Crooked ‘journalism’ should not be rewarded, it should be terminated!!!’

Now networks shouldn’t lose their licenses just because the president doesn’t like their coverage. Maybe they should be paying more for use of the airwaves, but that should apply to all networks; so far they’ve played by the rules.

Trump and John Bolton have been at each other’s throats since the president fired the national security adviser. There was a criminal investigation over Bolton’s 2020 book that Trump tried to stop, but it was cleared for publication.

I take Trump at his word that he didn’t know in advance about the FBI raid on Bolton’s Bethesda home. But twice in the days leading up to the raid, Trump was slamming him online for criticizing his efforts to end the Russia-Ukraine war..

‘Very unfair media is at work on my meeting with Putin. Constantly quoting fired losers and really dumb people like John Bolton, who just said that, even though the meeting is on American soil, ‘Putin has already won.’ What’s that all about?’

After the raid, Trump called Bolton a ‘low-life’ and a ‘sleazebag’ who suffers from ‘major Trump Derangement Syndrome.’

But two things can be true at once. Trump prosecutors had to show convincing evidence to a special court to get the search warrant approved. So it’s possible that Bolton did hang on to some classified documents.

After the raid, Trump posted that Bolton was among the ‘stupid people’ who were making it ‘much harder’ for him to end the war by ripping his approach to Putin.

I’ve known John Bolton for years–he used to be a Fox contributor–and I’m surprised he’s made no comment. There was just a little wave at the press pack when he returned home.

Next up: Wes Moore, Maryland’s first Black governor.

They’ve been jabbing each other back and forth, which is fine. But then the president posted this:

‘Governor Wes Moore of Maryland has asked, in a rather nasty and provocative tone, that I ‘walk the streets of Maryland’ with him. I assume he is talking about out of control, crime ridden, Baltimore? As President, I would much prefer that he clean up this Crime disaster before I go there for a ‘walk.’ Wes Moore’s record on Crime is a very bad one.’.

There’s more: 

Trump ‘offered’ to deploy troops to Baltimore – which has a serious crime problem – after which he would accept Moore’s invitation to meet him on the streets.

Then came the threat: ‘I gave Wes Moore a lot of money to fix his demolished bridge. I will now have to rethink that decision???’

Moore has been rebuilding the Francis Scott Key Bridge since a reckless and out-of-control tanker destroyed it early last year. And for the record, Congress approved the funds as part of a package during the final stretch of the Biden administration.

But put that aside. Who would be hurt if Trump carried out this threat?

Millions of people in Maryland who rely on the bridge, or whose jobs are tied to commerce in that region.

So Trump is openly suggesting to use the official power of government to withhold funds that would hurt ordinary citizens. That is more troubling than the punching and counterpunching with Bolton and Christie. 

For what it’s worth, I don’t think Trump would actually do it. It’s a brushback pitch.

While Trump may view himself as evening the score, one day Democrats will occupy the White House again. They would feel fully justified in going after their opponents as payback for the way they were targeted for investigation. And the endless cycle continues.

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Cracker Barrel tried to reassure customers Monday that its values have remained the same after it received criticism following a new logo reveal and general brand refresh.

The company promised customers in a statement that while its logo may be different, its values — “hard work, family, and scratch-cooked food made with care’ — are not.

“You’ve shown us that we could’ve done a better job sharing who we are and who we’ll always be,” the statement read, adding that Cracker Barrel will remain “a place where everyone feels at home, no matter where you’re from or where you’re headed.”

Last week, the company unveiled a new logo that no longer features a man leaning against a barrel or the words ‘Old Country Store.’ Instead, it featured the company’s name, in a color scheme that it said was inspired by the chain’s scrambled eggs and biscuits.

The change was part of a ‘strategic transformation’ that aimed to update the chain’s visual elements, spaces, food and retail offerings. The company’s shares are down about 8.5% since the reveal ignited criticism, especially from those in conservative circles.

Donald Trump Jr., the president’s son, amplified a post Wednesday suggesting that the logo change was intended to erase the American traditions aspect of the branding and make it more general and lean into diversity, equity and inclusion efforts.

On Monday, the chain also shared an update on the man in the original logo, Uncle Herschel, who is said is still featured on menus and road signs and in stores.

‘He’s not going anywhere — he’s family,’ the company said in the statement.

Cracker Barrel said its focuses remain country hospitality and generous portions of food at fair prices. The refresh, it said, was to ensure the restaurant will be there for the next generation.

‘That means showing up on new platforms and in new ways, but always with our heritage at the heart,’ it said.

‘We know we won’t always get everything right the first time, but we’ll keep testing, learning, and listening to our guests and employees.’

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Highlights:

  • All conditions in relation to the $20 million placement to Clean Elements Fund have been satisfied.
  • Due diligence undertaken by Clean Elements Fund validates the standing of Hombre Muerto West ( HMW ) as a world class lithium project, offering exceptional scale and grade.
  • Galan is now fully funded to complete the construction of Phase 1 at HMW (at 4ktpa LCE) with first production of lithium chloride concentrate planned during H1 2026.

Galan Lithium Limited (ASX: GLN,OTC:GLNLF) ( Galan or the Company ) is pleased to announce that all conditions relating to the $20 million share placement ( Placement ) to the Clean Elements Fund ( Clean Elements ) have now been completed.

The Placement, which was undertaken at a significant premium to the prevailing share price when originally announced, was subject to certain conditions including shareholder approvals (received at a General Meeting held on Friday, 22 August 2025 ) as well as the satisfactory completion by Clean Elements of technical and legal due diligence in respect of the Company and HMW in Argentina.

Clean Elements has advised that all conditions to the Placement have been satisfied. As such, the Placement will now proceed to settlement, providing Galan with the funding required for the finalisation of the HMW Phase 1 construction over the remainder of the 2025 calendar year, with first production of lithium chloride concentrate scheduled for H1 2026.

Settlement will take place in two equal tranches of $10 million .  Tranche 1 settlement will occur within the next 5 business days and Tranche 2 of the Placement will settle no later than 22 November 2025 , in line with the timing set out in the relevant shareholder approval.

Managing Director, Juan Pablo Vargas de la Vega , commented: ‘With the support of Clean Elements, Galan now has the funding certainty to complete Phase 1 construction at HMW and is firmly on track to deliver first lithium chloride concentrate production in H1 2026.

The due diligence undertaken by Clean Elements Fund has confirmed, what we at Galan already know – HMW is an exceptional lithium project, combining substantial scale and grade with execution capability that places it among the best globally.

The team at Galan remains focussed on advancing project delivery at HMW and we look forward to creating significant long-term value for shareholders as we progress towards production.’

Clean Element’s Chairman, Ofer Amir , commented: We are thrilled to confirm a binding and unconditional commitment to complete both tranches of the placement—an outcome that underscores strong confidence in Galan’s strategic direction.

Our specialist lithium brine adviser highlighted that HMW is the premier lithium brine resource globally. HMW’s brine is the highest grade in Argentina with the lowest impurity profile. It also contains significantly less magnesium and calcium than the levels found in the Salar de Atacama in Chile which, when combined with HMW’s high lithium grades, gives rise to the highest lithium recoveries in the lithium brine sector to date.

This exceptional resource quality enables a low-cost, evaporation process—positioning Galan to become a high-margin, globally competitive lithium producer. In our view, Galan will not just be participating in the lithium market; it will be setting a new benchmark.’

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

View original content: https://www.prnewswire.com/news-releases/galan-lithium-limited-successful-due-diligence-completed—20m-placement-to-proceed-302537458.html

SOURCE Galan Lithium Limited

News Provided by PR Newswire via QuoteMedia

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France has summoned American ambassador Charles Kushner to Paris, after the diplomat accused the country of not doing enough to combat antisemitism in a letter to French President Emmanuel Macron.

France’s foreign ministry said in a statement issued Sunday that Kushner’s allegations ‘are unacceptable,’ and announced it had summoned the U.S. diplomat to appear Monday at the French Ministry for Europe and Foreign Affairs.

Kushner, who is Jewish, wrote in the letter that antisemitic incidents in France have been fueled by French government statements about recognizing a Palestinian state.

‘Public statements haranguing Israel and gestures toward recognition of a Palestinian state embolden extremists, fuel violence, and endanger Jewish life in France. In today’s world, anti-Zionism is antisemitism – plain and simple,’ Kushner wrote.

Kushner further urged Macron ‘to act decisively: enforce hate-crime laws without exception, ensure the safety of Jewish schools, synagogues and businesses … and abandon steps that give legitimacy to Hamas and its allies.’

The French foreign ministry said in its statement that ‘France firmly rejects these allegations’ from Kushner, adding that French authorities have ‘fully mobilized’ to combat a rise in antisemitic acts since Hamas launched a deadly attack on Israel on Oct. 7, 2023. The ministry further deemed antisemitic acts ‘intolerable.’

The ministry said Kushner’s allegations violate international law and the obligation not to interfere with the internal affairs of another country, adding that they ‘also fall short of the quality of the transatlantic partnership between France and the United States and of the trust that must prevail between allies.’

The U.S. State Department, however, said it backed Kushner and his comments, department spokesperson Tommy Pigott said Sunday evening.

‘Ambassador Kushner is our U.S. government representative in France and is doing a great job advancing our national interests in that role,’ Pigott said.

Macron has been critical of Israeli Prime Minister Benjamin Netanyahu as the war in Gaza continues, while President Donald Trump has been a staunch supporter of the Israeli leader.

Kushner, a real estate developer, is the father of Jared Kushner, who is married to Trump’s daughter Ivanka Trump.

At the end of his first presidential term, Trump pardoned Charles Kushner, who pleaded guilty years earlier to tax evasion and making illegal campaign donations.

The Associated Press contributed to this report.

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The Trump administration said Friday that it had taken a 10% stake in Intel, the president’s latest extraordinary move to exert federal government control over private business.

The United States will not seek direct representation on Intel’s board and pledged to vote with the current Board of Directors on matters requiring shareholder approval, ‘with limited exceptions,’ according to a joint release from the Trump administration and Intel. The move also comes as the United States vies with China in the race to dominate the artificial intelligence industry.

President Donald Trump announced the deal on his Truth Social platform Friday, praising the company’s CEO just two weeks after he called on the executive to resign over alleged China ties.

‘It is my Great Honor to report that the United States of America now fully owns and controls 10% of INTEL, a Great American Company that has an even more incredible future,’ he wrote. ‘I negotiated this Deal with Lip-Bu Tan, the Highly Respected Chief Executive Officer of the Company. The United States paid nothing for these Shares, and the Shares are now valued at approximately $11 Billion Dollars. This is a great Deal for America and, also, a great Deal for INTEL. Building leading edge Semiconductors and Chips, which is what INTEL does, is fundamental to the future of our Nation.’

While the U.S. held temporary stakes in firms at the center of the 2008-2009 global financial meltdown as part of a bailout, this move is unusual since the economy is not embroiled in a crisis. Congress published a study in 2003 that examined the impact of the federal government taking direct stakes in public companies, concluding that doing so would “not offer a free lunch” and expose taxpayers to “greater risk” alongside the upside potential.

The stake will be paid for through $5.7 billion in grants previously awarded to Intel under the 2022 U.S. CHIPS and Science Act, plus $3.2 billion awarded to the company as part of a program called Secure Enclave. It’s a formerly classified initiative that Congress appropriated funds for in 2024 after lobbying by Intel, Politico reported in 2024.

Including $2.2 billion in CHIPs grants Intel has received so far, the total investment is $11.1 billion, or 9.9%. Intel is valued at about $108 billion on the stock market.

Trump continues to bulldoze through long-held norms regarding government and business, departing from the free-market ethos that has long prevailed in both major U.S. political parties.

This month, Trump persuaded the chipmakers Nvidia and AMD to pay the U.S. government 15% of their revenues from some sales to China in return for securing export licenses there.

While those firms have seen their fortunes rise amid the larger artificial intelligence boom, a windfall from any of them is no sure thing. In the case of California-based Intel, the company has struggled to keep up with rivals in recent years, with its shares down some 60% from the highs seen during the pandemic.

But amid the ongoing artificial intelligence arms race — and the goal of making computer chips a national security priority — Trump officials zeroed in on Intel as a means of leveling up U.S. control over semiconductor production.

Earlier this week, Japan’s SoftBank also announced it would invest $2 billion in Intel to “deepen their commitment to investing in advanced technology and semiconductor innovation in the United States.’

Some Democrats signaled they were on board with the move.

‘U.S. leadership is critical for both our economy and national security,’ U.S. Senator Mark Warner, D-Virginia, said in a statement Friday evening.

‘Taking an equity stake in Intel may or may not be the right approach, but one thing is clear: allowing cutting-edge chips to flow to China without restraint will erode the value of any investment we make here at home. We need a strategy that protects American innovation, strengthens our workforce, and keeps the technologies of the future firmly in American hands.’

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