Trump won't say whether US will join strikes on Iran
US President Donald Trump has told reporters he will not say whether he has decided to order a US strike on Iran, a move that Iranian officials warned anew would be greeted with stiff retaliation if it happens.
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News.com.au
21 minutes ago
- News.com.au
The rage of war has placed these military metals in high demand
Metals used in munitions and military technology are in the spotlight as war rages in the Middle East and Ukraine Tungsten, tin, antimony, rare earths and beryllium among the key commodities to follow These ASX stocks are moving to stake out a position in critical minerals markets The rise of fresh tensions in the Middle East has put the spotlight on the minerals needed for military operations. The wars in Ukraine and Gaza continue to rage, and even escalate, while the outbreak of hostilities between Israel and Iran is leading to fears of a much larger regional, or even global, conflict. While the first few days of the conflict have boosted the price of oil, it's also a sad fact that military operations are metals intensive. Even without an additional conflict, US President Donald Trump's 'Big Beautiful Bill' will see the country's defence spending hit US$1 trillion next year for the first time. In a recent presentation in Toronto, Hallgarten + Company analyst Christopher Ecclestone noted that most of the combatants in World War I and, to a lesser extent, World War II, had all the metals and minerals they needed domestically – which is not the case today. He also pointed out that war materials are exceedingly high-tech, both in composition and metal inputs, adding that rare earths 'weren't a thing' in WWII. While loads of different metals, including aluminium and titanium, are needed for defence applications, Ecclestone listed the 'headline' military metals as tungsten, antimony, rare earths, tin and beryllium. While there aren't any options on the ASX for beryllium, we have a look at some of the juniors with near-term production potential in the other four metals. Tungsten Vancouver-based investment firm Mission Critical Metals, of which Ecclestone is also CEO, describes tungsten as the key military metal, due to its use in making bulletproof vehicles, armoured tanks, armour-piercing rounds, high-speed cutting tools, and rocket and aircraft parts. Mission says that given the turnaround in the tungsten price is relatively recent, the space is yet to attract many new players. Outside of the ASX's two listed tungsten producers, Almonty Industries (ASX:AII) and EQ Resources (ASX:EQR), there are a couple of other hopefuls. Tungsten Mining (ASX:TGN) is considering an early production pathway for its Hatches Creek project in the Northern Territory. Last month, the company reported a maiden inferred resource of 12 million tonnes at 0.17% tungsten trioxide, which will feed into a scoping study. Preliminary metallurgical studies have successfully produced a tungsten concentrate grading at 50% tungsten trioxide. Meanwhile, Rumble Resources (ASX:RTR) discovered a tungsten sweetener at its Western Queen gold project in Western Australia last year. High-grade tungsten mineralisation remains open in all directions with a maiden resource to be reported in the September quarter. The company will then complete metallurgical testwork to determine the quantum of the tungsten revenue stream and incorporate it into the Western Queen South mining schedule. Antimony Antimony is used in military applications including fighter jets, military primers, night vision goggles, lasers, military detonators and military smoke agents. There's been an explosion of ASX companies seeking exposure to antimony due to a price surge driven by shortages. Larvotto Resources (ASX:LRV) is one of the more advanced companies globally, with its Hillgrove project in New South Wales due to start production next year. Nearby, Trigg Minerals' (ASX:TMG) Achilles project contains the Wild Cattle Creek deposit, with a resource of 1.52Mt at 1.97% antimony containing 29,902 tonnes of antimony, which the company says makes it Australia's highest grade primary antimony resource. Trigg also recently boosted it antimony portfolio with the addition of the Antimony Canyon project in Utah, which has a non-JORC resource of 12.7Mt at 0.79% antimony for 100,300t of contained antimony. Felix Gold (ASX:FXG) could be in production the soonest from its Treasure Island project in Alaska. The company is working towards small-scale antimony production by the end of this year from the Scrafford deposit, which previously produced up to 58% antimony. Also in Alaska, Nova Minerals (ASX:NVA) has applied to the US Department of Defense (DoD) for funding to potentially fast track antimony production from its Stibium deposit. Larvotto and Trigg have also reported tungsten resources, while Resolution's new project also has tungsten potential. Rare Earths Rare earths are essential to the defence sector, making the development of new supply chains a matter of national security for countries including the US. Neodymium and praseodymium permanent magnets are used in F-35 fighter jets and unmanned aerial vehicles, while lanthanum is used in night vision goggles and terbium is used in naval sonar systems. Shares in Dateline Resources (ASX:DTR) have exploded recently after Trump tweeted his support for the Colosseum rare earths project in California. Last week, Dateline confirmed further public support from members of the Trump Administration, including Secretary of the Interior Doug Burgum. Locksley Resources (ASX:LKY) is a more recent entrant to the space, but its Mojave project in California sits right next to the US' only operating rare earths mine, MP Materials' Mountain Pass, and is also prospective for antimony. This week, Locksley Resources launched strategic collaboration initiatives, targeting engagement with US agencies, national laboratories, US universities and downstream technology partners. In Australia, Victory Metals (ASX:VTM) recently received a letter of interest from the Export-Import Bank of the United States for up to US$190 million in project financing for the development of the North Stanmore heavy rare earths project in WA. The project is set to produce both heavy and light rare earths, as well as gallium and scandium as by-products. VHM (ASX:VHM) is targeting rare earths and mineral sands production from its Goschen project in Victoria in late 2026 after receiving a mining license for the project recently. The company is working towards a final investment decision in the December half. Tin According to the DoD, tin is used in many defence applications, such as soldering to enable electrical connections in semiconductors, high-end capacitors, and other electronic components in nearly all military hardware. There's not a lot of tin exposure on the ASX outside of long-time producer Metals X (ASX:MLX). Metals X-backed Elementos (ASX:ELT) could be next in line after releasing a definitive feasibility study for its Oropesa project in Spain in April. The company is now working on permitting and financing ahead of a making a final investment decision. Stellar Resources (ASX:SRZ) says its Heemskirk tin project in Tasmania has the potential to be a global top 10 producer. A prefeasibility study is due in the second half of this year, with the company expected to move straight into a DFS. Sky Metals (ASX:SKY) holds the advanced Tallebung project in NSW, a historical tin producer. The company is advancing a bulk sample metallurgical program to optimise the process flowsheet and produce marketable tin concentrates ahead of offtake marketing. Earlier stage explorers include Brazilian focused Australian Mines (ASX:AUZ) and Perpetual Resources (ASX:PEC), who are trying to find new deposit in a waning tin power which almost 40 years ago supplied 22% of the world's primary tin.
News.com.au
21 minutes ago
- News.com.au
Israel-Iran conflict live updates: Trump erupts over Middle East
Welcome to our live coverage of the escalating situation in the Middle East. President Donald Trump has slammed a reporter for asking about a potential US strike on Iran, declaring he 'may' or 'may not' order US forces to join the conflict. 'Nobody knows what I'm going to do,' he said. It comes as Russia has warned the US not to get involved, stressing it 'would radically destabilise the entire situation'. 'We caution Washington against even speculative, hypothetical options of this kind,' said Russian Deputy Foreign Minister Sergei Ryabkov.
West Australian
27 minutes ago
- West Australian
Israel-Iran war: US President Donald Trump declines to rule out possibility of launching US airstrikes
The United States may be nearing involvement in the Iran-Israel conflict after President Donald Trump declined to rule out the possibility of launching US airstrikes, stating he 'may or may not' take such action. Mr Trump said on Wednesday (local time) that his patience 'had already run out' with Iran and doubled down on his call for the Islamic Republic's 'unconditional surrender.' 'I may do it, I may not do it. I mean, nobody knows what I'm going to do,' Mr Trump responded when reporters asked if he would launch US air strikes. Mr Trump said Iranian officials had reached out about negotiations including a possible meeting at the White House but 'it's very late to be talking,' he said. 'Unconditional surrender, that means I've had it.' Asked for his response to Iranian Supreme Leader Ayatollah Ali Khamenei rejecting the idea of surrendering, Mr Trump said: 'I say, good luck.' People jammed motorways out of the capital of Tehran, a city of 10 million people, as residents sought sanctuary from intensified Israeli airstrikes. In its latest bombing run, Israel said its air force destroyed Iran's police headquarters. 'As we promised - we will continue to strike at symbols of governance and hit the ayatollah regime wherever it may be,' Defence Minister Israel Katz said. Mr Khamenei, 86, rebuked Mr Trump in a recorded speech played on television, his first appearance since Friday. The United States 'should know that any US military intervention will undoubtedly be accompanied by irreparable damage,' he said. 'Intelligent people who know Iran, the Iranian nation and its history will never speak to this nation in threatening language because the Iranian nation will not surrender.' Mr Trump has veered from proposing a swift diplomatic end to the five-day-old war to suggesting the United States might join it. A source familiar with internal discussions said Mr Trump and his team were considering options that included joining Israel in strikes against Iranian nuclear installations. Defense Secretary Pete Hegseth told a Senate committee that the Pentagon was prepared to execute any order given by Mr Trump. Israel's military said 50 Israeli jets struck about 20 targets in Tehran overnight, including sites producing raw materials, components and manufacturing systems for missiles. It advised Iranians to leave parts of Tehran for their own safety while it bombed targets. Traffic was backed up on highways leading out of the capital Tehran, a city of 10 million people, as residents sought sanctuary elsewhere. Ms Arezou, a 31-year-old Tehran resident, told Reuters by phone that she had made it out to the nearby resort town of Lavasan. 'We will stay here as long as this war continues. My friend's house in Tehran was attacked, and her brother was injured. They are civilians,' she said. 'Why are we paying the price for the regime's decision to pursue a nuclear program?' In Israel, sirens rang out warning people of retaliatory Iranian missile strikes. At Ramat Gan city train station east of Tel Aviv, people were lying on city-supplied mattresses lined along the floor or sitting in the odd camping chair, with plastic water bottles strewn about. 'I feel scared, overwhelmed. Especially because I live in a densely populated area that Iran seems to be targeting, and our city has very old buildings, without shelters and safe spaces,' said Tamar Weiss, clutching her four-month-old daughter. - With AAP
