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US Energy Secretary Chris Wright says there is no plan for a tariff carveout for the energy industry as the country expands its power resources to fuel AI demand. He speaks with Bloomberg's Tyler Kendall from the inaugural Pennsylvania Energy and Innovation Summit. (Source: Bloomberg)
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Nova Minerals Advises Permitting for the West Susitna Access Road to the Estelle Project Site has been Submitted
Anchorage Alaska, July 28, 2025 (GLOBE NEWSWIRE) -- Nova Minerals Limited ('Nova' or the 'Company') (NASDAQ: NVA) (ASX: NVA) (FRA: QM3) ) is pleased to announced that the Alaska Industrial Development and Export Authority (AIDEA) has submitted its application to the U.S. Army Corps of Engineers for the permitting of the West Susitna Access Road. The permitting process for the all-weather public and industrial road will occur in 2025-2026 and further strengthens Nova's momentum as it advances the Estelle Project. The proposed 78.5-mile long road will begin approximately 1.4 miles west of Alexander Creek and extend to the Whiskey Bravo airstrip and mineral exploration camp (Figure 1). Following the Skwentna River's northern edge before crossing to its southern side, the route is designed to allow year-round public access to lands that are currently difficult to reach except by air or water. As a company deeply committed to advancing responsible exploration and unlocking Alaska's critical mineral potential, Nova Minerals sees this project as essential infrastructure for future development in the region. With this road in place, not only will essential logistics and access be significantly improved, but new opportunities are expected to also arise for Alaskan families, local businesses, and resource developers alike. Highlights The Alaska Industrial Development and Export Authority (AIDEA) has submitted its application to the U.S. Army Corps of Engineers for the permitting of the West Susitna Access Road, which will occur in 2025/2026. The West Susitna Access Road is a critical infrastructure project, consisting of a 78.5-mile all-weather road for both public and industrial use (Figure 1). It is intended to support the Estelle Project and the surrounding region and is expected to lower barriers to resource development, substantially reduce the cost of mining in the West Susitna region, and enhance local access and economic opportunities. The road will connect to a separate road project being led by the Alaska Department of Transportation & Public Facilities (ADOT&PF) that will extend 22-miles of new public and industry road surface west from the existing road system and will include a large bridge across the Susitna River. The ADOT&PF project is scheduled to begin construction in late 2025 and to be fully constructed by 2026/2027. Pursuant to Executive Order 14153, the Governor of Alaska has requested that the Assistant Secretary of the Army for Civil Works render 'all assistance' required to obtain the necessary approvals for the project. Pursuant to Executive Order 14241, the Governor has also requested that the project be deemed a 'priority project' and placed on an expediated permitting schedule, as well as emergency approval pursuant to section 2 of Executive Order 14156, as the project is important to Alaska, the Nation, and the future of the Nation's energy dominance and national security. Nova CEO, Mr Christopher Gerteisen commented: 'The West Susitna Access Road represents a critical step forward for the Mat-Su region, Alaska, and beyond. This transformative infrastructure project is expected to not only unlock significant economic opportunities by facilitating resource development, but also enhance local access and create jobs in the process. We are proud to support AIDEA and the state's ongoing efforts to build a stronger, more sustainable future through infrastructure development. The state's commitment to expanding access to Alaska's vast public lands aligns well with our shared vision for long-term economic growth and national security. We are excited to see the potential positive impact this project could have on both the local community and the state's broader economic landscape.' West Susitna Road Welcomed by Government Officials and Local Stakeholders Gov. Mike Dunleavy welcomed the advancement of the project, calling it a strategic move to boost economic development in the region: 'AIDEA's West Susitna Road holds significant value for Alaskans, especially local residents seeking better access to hunting, fishing, recreation, and potential opportunities in mining, processing, and manufacturing.' Funding for the road is expected to follow a public-private partnership model similar to AIDEA's Delong Mountain Transportation System, which supports the Red Dog Mine. That approach has previously yielded long-term economic gains through infrastructure that serves both public and private needs. Support for the project spans political and community lines. Matanuska-Susitna Borough Mayor Edna DeVries called the road 'a strategic investment in our region's future,' emphasizing its potential to provide long-overdue access for families and businesses. 'Reliable road access means a stronger local economy and more opportunities for recreation and responsible development,' DeVries said. State lawmakers have also backed the project as a critical step in unlocking Alaska's resource potential. 'The West Susitna Access is an exciting opportunity not only to potentially unlock some of Alaska's extraordinary resource potential, but to provide all Alaskans new access to the recreation and outdoor opportunities found in the West Su,' said Rep. Kevin McCabe. Sen. Mike Shower highlighted the national security and economic benefits of increased access to minerals like copper, gold, and antimony. 'Responsible resource development is critical for Alaska, the United States and our allies,' he said, noting the road's potential role in supporting jobs and technology supply chains. Public land access advocates have also weighed in. Rod Arno, public policy director for the Alaska Outdoor Council, said the group 'remains in strong support of the state creating more overland access to public lands/waters for all Alaskans.' He added that resource roads have historically become gateways to outdoor recreation and that the council will monitor the project's progress to ensure renewable resource protections remain strong. Local business owners echoed that enthusiasm. Cindi Hermans, president of Friends of West Susitna and owner of the Skwentna Roadhouse, called the permit application a long-awaited milestone: 'It has been a long time coming, and we are eager to see the positive impact it will have on our community and surrounding areas.' Nova Minerals stands firmly behind the West Susitna Access Project and looks forward to working alongside stakeholders to realize the shared benefits this infrastructure will bring to all Alaskans. The permit application marks a key regulatory step in the project's development and begins a review process that includes federal agency input and opportunities for public comment. The project reflects Alaska's constitutional mandate to develop state lands for maximum public benefit, balancing access, economic development, and conservation. To see the full press release from AIDEA on the permit application please click the link belowhttps:// Watch the AIDEA West Susitna Access video here: 1. Proposed route for the West Susitna Access Road. Source AIDEA. Qualified Persons Vannu Khounphakdee, Professional Geologist and member of Australian Institute of Geoscientists contracted by Nova Minerals to provide geologic consulting services. Mr. Khounphakdee holds a Master of Science in Mine Geology and Engineering. He is a qualified person with at least 5 years' experience with this type of project. By reason of education, affiliation with a professional association, and past relevant work experience, Mr. Khounphakdee fulfills the requirements of Qualified Person (QP) for the purposes of SEC Regulation SK-1300 for data QA/QC checks relevant to this announcement. Hans Hoffman is a State of Alaska Certified Professional Geologist contracted by Nova Minerals to provide geologic consulting services. Mr. Hoffman is a member of the American Institute of Professional Geologists and holds a Bachelor of Science degree in Geological Engineering with a double major in Geology and Geophysics. He is a qualified person with at least 5 years of experience with these types of projects. By reason of education, affiliation with a professional association, and past relevant work experience, Mr. Hoffman fulfills the requirements of Qualified Person (QP) for the purposes of SEC Regulation SK-1300 for the technical information presented in this announcement. Christopher Gerteisen, Chief Executive Officer of Nova Minerals, is a Professional Geologist and member of Australian Institute of Geoscientists, and has supervised the preparation of this news release and has reviewed and approved the scientific and technical information contained herein. Mr. Gerteisen is a "qualified person" for the purposes of SEC Regulation S-K 1300. About Nova Minerals Limited Nova Minerals Limited is a Gold, Antimony and Critical Minerals exploration and development company focused on advancing the Estelle Project, comprised of 514 km2 of State of Alaska mining claims, which contains multiple mining complexes across a 35 km long mineralized corridor of over 20 advanced Gold and Antimony prospects, including two already defined multi-million ounce resources, and several drill ready Antimony prospects with massive outcropping stibnite vein systems observed at surface. The 85% owned project is located 150 km northwest of Anchorage, Alaska, USA, in the prolific Tintina Gold Belt, a province which hosts a >220 million ounce (Moz) documented gold endowment and some of the world's largest gold mines and discoveries including, Nova Gold and Paulson Advisors Donlin Creek Gold Project and Kinross Gold Corporation's Fort Knox Gold Mine. The belt also hosts significant Antimony deposits and was a historical North American Antimony producer. Further discussion and analysis of the Estelle Project is available through the interactive Vrify 3D animations, presentations, and videos, all available on the Company's website. Forward Looking Statements This press release contains 'forward-looking statements' that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as 'anticipate,' 'believe,' 'contemplate,' 'could,' 'estimate,' 'expect,' 'intend,' 'seek,' 'may,' 'might,' 'plan,' 'potential,' 'predict,' 'project,' 'target,' 'aim,' 'should,' "will' 'would,' or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Nova Minerals Limited's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, Gold and other metal prices, the estimation of initial and sustaining capital requirements, the estimation of labor costs, the estimation of mineral reserves and resources, assumptions with respect to currency fluctuations, the timing and amount of future exploration and development expenditures, receipt of required regulatory approvals, the availability of necessary financing for the Project, the availability of funding sources, the availability of collaborative relationships, permitting and such other assumptions and factors as set out herein. Apparent inconsistencies in the figures shown in the MRE are due to rounding. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks related to changes in Gold prices; sources and cost of power and water for the Project; the estimation of initial capital requirements; the lack of historical operations; the estimation of labor costs; general global markets and economic conditions; risks associated with exploration of mineral deposits; the estimation of initial targeted mineral resource tonnage and grade for the Project; risks associated with uninsurable risks arising during the course of exploration; risks associated with currency fluctuations; environmental risks; competition faced in securing experienced personnel; access to adequate infrastructure to support exploration activities; risks associated with changes in the mining regulatory regime governing the Company and the Project; completion of the environmental assessment process; risks related to regulatory and permitting delays; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalization and liquidity risks including the risk that the financing necessary to fund continued exploration and development. These and other risks and uncertainties are described more fully in the section titled 'Risk Factors' in the Nova Minerals Limited's Registration Statement on Form F-1 filed with the Securities and Exchange Commission on July 3, 2025. Forward-looking statements contained in this announcement are made as of this date, and Nova Minerals Limited undertakes no duty to update such information except as required under applicable law. For Additional Information Please Contact Craig BentleyDirector of Finance & Compliance & Investor RelationsE: craig@ +61 414 714 196Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14 minutes ago
- Yahoo
Mastercard extends payment collaboration with Uber
Mastercard has extended its partnership with Uber, focusing on improving payment solutions for drivers, couriers, and Mastercard users on the Uber platform. As part of this collaboration, Uber will utilise a variety of Mastercard products and services, including Mastercard Move for real-time disbursements, Mastercard One Credential to streamline the payment experience, and Mastercard Gateway capabilities for collections, to bolster its business operations. The Uber Pro Card, which Mastercard currently supports in the US and Canada, has been renewed in those markets and will see an expansion into new regions, including the UK. This card enables Uber drivers and couriers to receive instant payments at no cost after each trip or delivery, along with benefits such as leading cash-back rewards on fuel purchases, according to Mastercard. Mastercard co-president of Global Partnerships Sherri Haymond said: 'This partnership connects over 3.5 billion cards and more than 150 million merchants that accept Mastercard globally together with Uber's community of over 8.5 million earners and 170 million users worldwide. 'By leveraging Mastercard's end-to-end payment solutions, this deepened work will provide integrated, trusted and seamless payment experiences for Uber's workers, small business owners, and consumers while also supporting Uber's growth.' In conjunction with this expansion, the Uber Pro Card will also enhance payment experiences by incorporating Mastercard One Credential, a single digitally connected credential that provides greater payment options. Additionally, Uber's global customer base will gain access to Mastercard's consumer payment products and services, including its Offers Platform, which will introduce unique benefits and added value for Mastercard cardholders purchasing delivery and mobility services on Uber's platform. Mastercard Gateway, the company's global processing and fraud prevention solution, will also be employed to enable Uber to accept a diverse range of digital transactions swiftly and securely. Uber vice president of Global Commerce Karl Hebert said: 'We could not be more excited to be deepening our relationship with a similarly forward-thinking and innovative business like Mastercard. 'At the heart of this partnership is a desire to grow benefits for all our mutual customers, be it the businesses that rely on Uber to earn each day, or those using the platform to Go Anywhere and Get Anything.' "Mastercard extends payment collaboration with Uber" was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14 minutes ago
- Yahoo
The winners and losers in US-EU trade deal
The US and EU have struck what is being billed as the largest trade deal in history, after talks in Scotland. It actually resembles the framework for an agreement rather than a full trade deal, with details still unclear. But the headline figures announced by President Donald Trump and EU chief Ursula von der Leyen do offer clues about which sectors and groups could be hit hardest or have most to gain. Follow reaction live Trump - winner After promising new trade deals with dozens of countries, Trump has just landed the biggest of them all. It looks to most commentators that the EU has given up more, with instant analysis by Capital Economics suggesting a 0.5% knock to GDP. There will also be tens of billions of dollars pouring into US coffers in import taxes. But the glowing headlines for Trump may not last long if a slew of economic data due later this week show that his radical reshaping of the US economy is backfiring. Figures on inflation, jobs, growth and consumer confidence will give a clearer picture on whether Trump's tariffs are delivering pain or gain. US consumers - loser Ordinary Americans are already aggrieved at the increased cost of living and this deal could add to the burden by hiking prices on EU goods. While not as steep as it could have been, the hurdle represented by a 15% tariff rate is still significant, and it is far more pronounced than the obstacles that existed before Trump returned to office. Tariffs are taxes charged on goods bought from other countries. Typically, they are a percentage of a product's value. So, a 15% tariff means that a $100 product imported to the US from the EU will have a $15 dollar tax added on top - taking the total cost to the importer to $115. Companies who bring foreign goods into the US have to pay the tax to the government, and they often pass some or all of the extra cost on to customers. Markets - winner Stock markets in Asia and Europe rose on Monday after news emerged of the deal framework. Under the framework, the US will levy a 15% tariff on goods imported from the EU. While this rate is significant, it is less than what it could have been and at least offers certainty for investors. The agreement is "clearly market-friendly, and should put further upside potential into the euro", Chris Weston at Pepperstone, an Australian broker, told AFP. European solidarity - loser The deal will need to be signed off by all 27 members of the EU, each of which have differing interests and levels of reliance on the export of goods to the US. While some members have given the agreement a cautious welcome, others have been critical - hinting at divisions within the bloc, which is also trying to respond to other crises such as the ongoing war in Ukraine. A big Trump win but not total defeat for Brussels French Prime Minister Francois Bayrou commented: "It is a dark day when an alliance of free peoples, brought together to affirm their common values and to defend their common interests, resigns itself to submission." He was joined by at least two other French government ministers as well as Viktor Orban, the Hungarian leader, who said that Trump "ate von der Leyen for breakfast". Carmakers in Germany - loser The tariff faced by importers bringing EU cars to the US has been nearly halved, from the rate of 27.5% that was imposed by Trump in April to a new rate of 15%. Cars are one of the EU's top exports to the US. And as the largest manufacturer of cars in the EU - thanks to VW, Mercedes and BMW - Germany will have been watching closely. Its leader, Friedrich Merz, has welcomed the new pact, while admitting that he would have welcomed a "further easing of transatlantic trade". That downbeat sentiment was echoed by the German carmaking trade body, the VDA, which warned that even a rate of 15% would "cost the German automotive industry billions annually". Carmakers in the US - winner Trump is trying to boost US vehicle production. American carmakers received a boost when they learned that the EU was dropping its own tariff on US-made cars from 10% to 2.5%. Theoretically that could result in more American cars being bought in Europe. That could be good for US sales overseas, but the pact is not all good news when it comes to domestic sales. That is down to the complex way that American cars are put together. Many of them are actually assembled abroad - in Canada and Mexico - and Trump subjects them to a tariff of 25% when they are brought into the US. That compares with a lower tariff rate of 15% on EU vehicles. So US car makers may now fear being undercut by European manufacturers. EU pharmaceuticals - loser There is confusion around the tariff rate that will be levied on European-made drugs being bought in the US. The EU wants drugs to be subject to the lowest rate possible, to benefit sales. Trump said pharmaceuticals were not covered by the deal announced on Sunday, under which the rate on a number of products was lowered to 15%. But von der Leyen said they were included, and a White House source confirmed the same to the BBC. Either scenario will represent disappointment for European pharma, which initially hoped for a total tariffs exemption. The industry currently enjoys high exposure to the US marketplace thanks to products like Ozempic, a star type-2 diabetes drug made in Denmark. This has been highlighted in Ireland, where opposition parties have pointed out the importance of the industry and criticised the damaging effect of uncertainty. Ireland 'not celebrating' Trump's EU deal US energy - winner Trump said the EU will purchase $750bn (£558bn, €638bn) in US energy, in addition to increasing overall investment in the US by $600bn. "We will replace Russian gas and oil with significant purchases of US LNG [liquified natural gas], oil and nuclear fuels," said Von der Leyen. This will deepen links between European energy security and the US at a time when it has been pivoting away from importing Russian gas since its full-scale invasion of Ukraine. Aviation industry in EU and US - winner Von der Leyen said that some "strategic products" will not attract any tariffs, including aircraft and plane parts, certain chemicals and some agricultural products. That means firms making components for aeroplanes will have friction-free trade between the huge trading blocs. She added that the EU still hoped to get more "zero-for-zero" agreements, notably for wines and spirits, in the coming days. 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