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WPIC: Platinum Market Heading for Fourth Straight Deficit in 2026

Investing 4 Mins Read

The global platinum market is expected to remain in deficit for a fourth consecutive year in 2026, even as supply begins to stabilize and demand moderates following a sharp rally in the metal’s price.

New projections from the World Platinum Investment Council (WPIC) show a deficit of about 240,000 ounces for 2026 following a significantly larger shortfall of 1.082 million ounces in 2025.

That’s the deepest deficit recorded in the group’s Platinum Quarterly data series since it began in 2014. According to data, the cumulative deficit since 2023 will approach 3 million ounces by the end of 2026.

As a result, aboveground platinum stocks are expected to remain historically low, falling to about 2.613 million ounces, which is equivalent to just over four months of global demand for the precious metal.

WPIC CEO Trevor Raymond said the factors that fueled platinum’s strong performance last year are expected to remain.

“The key drivers of platinum’s price rally in 2025, namely strong supply/demand fundamentals, a depletion of above ground stocks, and macropolitical uncertainty-driven precious metals demand, are expected to persist in 2026,” he said.

“Consequently, market tightness is likely to continue, maintaining investor interest in platinum, and further supporting bar and coin and ETF demand throughout the year.”

Platinum investment strength offsets softer overall demand

The forecast marks a shift from earlier expectations that the platinum market would return to balance in 2026.

Instead, strong investment sentiment and resilient exchange-traded fund holdings have pushed the market back into deficit territory. Even so, total demand for platinum is expected to decline moderately this year.

The WPIC projects overall demand will fall about 8 percent year-on-year to roughly 7.619 million ounces.

Much of that drop reflects a normalization in investment demand after a surge in 2025, when inflows into platinum exchange-traded funds and physical investment products climbed sharply.

However, demand for physical platinum bars and coins is expected to continue growing.

The WPIC forecasts that bar and coin investment will jump 35 percent in 2026 to 725,000 ounces, reaching the highest level recorded in the Platinum Quarterly dataset.

Investment purchases of platinum are increasing as the metal gains attention as a lower-priced alternative to gold, and as retail investment products become more widely available.

Supply growth lags as platinum deficit persists

While demand patterns shift across sectors, platinum supply growth remains limited.

Total platinum supply is expected to rise just 2 percent in 2026 to about 7.379 million ounces.

Mine output is forecast to remain essentially flat at roughly 5.553 million ounces, with production gains in South Africa and Zimbabwe offset by declines in North America and Russia.

The modest increase in supply will largely come from recycling. Higher platinum prices have encouraged the recovery of spent autocatalysts and recycled jewelry, pushing recycling supply up about 10 percent in 2025. That trend is expected to continue this year, with recycled metal rising another 10 percent to approximately 1.827 million ounces.

Still, the additional recycled material is unlikely to fully offset the underlying market tightness. As Raymond noted, another factor that could further deepen the deficit has yet to be fully reflected in current forecasts.

“One item not yet captured in the supply/demand balance is any exchange stocks warehoused with the Guangzhou Futures Exchange, which could potentially deepen the deficit versus current projections once these are made publicly available,” he said. For platinum investors, the persistence of deficits suggests that the market’s underlying fundamentals remain supportive even as demand moderates from last year’s highs.

“The price rally we’ve seen this year has not solved the deficit,” he said.

“Normally, in a deficit market, you would expect the price to increase. Clearly, the elevated prices we’ve experienced is still insufficient to attract more supply into the market or drag more metal out of aboveground stocks.”

With supply growth limited and inventories shrinking, the platinum market is likely to remain structurally tight, sustaining investor interest through 2026.

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

This post appeared first on investingnews.com

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Investing

BHP: Targeted AI Platforms Boost Efficiency, Safety and More

Investing 7 Mins Read

Modern society has a metals problem. The demands of modern consumer culture, the energy transition and the emergence of artificial intelligence (AI) and robotics have created a dilemma.

As demand rises, the supply of many metals is at a bottleneck brought about by a number of factors, from government red tape to civil unrest, as well as lack of capital expenditures leading to fewer new discoveries and mines.

On top of this, mining companies focused on essential metals like copper are facing additional challenges, as in many cases the easy discoveries have already been made and existing mines are seeing declining grades, causing further constraints to supply.

BHP (ASX:BHP,NYSE:BHP,LSE:BHP) Digital Officer Mikko Tepponen suggests that the very technologies that rely on metals and mining can be the answer in his presentation at the 2026 Prospectors and Developers Association of Canada conference.

Addressing data fragmentation in exploration

Once companies open up capital expenditures to the exploration side of the mining sector, several questions arise, most notably: Where are the minerals?

At its core, exploration relies on the geosciences, with a geologist in the field, sampling rocks, conducting surveys and using the data gathered to estimate where the best place is to put a drill for a look below the surface.

Mining is a data-driven enterprise, and depending on the project, the information can come from a range of methods, from modern techniques to historic observations, meaning the data is fragmented across a variety of sources and formats.

AI and machine learning can be good at processing and interpolating large quantities of information. However, data accessibility creates another roadblock.

“Across our industry, vast volumes of exploration data are sealed in archive rooms, and legacy systems can’t read through third-party data sets,” Tepponen said. “That data is neither structured, searchable nor interoperable. That means AI cannot make easy sense of it, and in many cases, that data was never extracted.”

For Tepponen, one of the challenges the mining industry needs to overcome is data fragmentation. Without enough data or proper information, there is an increased risk of making the wrong exploration decisions.

“Time matters because capital is finite. Drill meters are expensive, and decisions about capital allocation have multi-year impacts down the line,” he said.

The way BHP has implemented a data-centric approach is building a central data platform that integrates the decades of exploration data, standardizes it and makes it accessible through a central team within the company.

Tepponen says the platform supports 52 standardized core geoscience types, backed by more than 100 years of data, helping its exploration teams save months of time.

“Our geoscientists can access more than 4 million drill hole cores and 9,000 geophysical surveys through one portal,” he added.

Using BHP’s in-house AI extraction tool, one team of geoscientists obtained data from thousands of drill holes from 30,000 legacy document records. They then used the central data platform to combine that with modern drilling data.

According to Tepponen, the team completed the work in a few hours, while doing so manually would have taken months, and results were higher quality than the previous method.

However, he stressed that the integration of AI into its workflow wasn’t about replacing geoscience teams, but about “amplifying the work of geoscientists by creating a digital tool that enables them to focus on higher value.”

Additionally, the information in the platform is not limited to BHP’s data. Tepponen explained that the entire system is built on an open-source database designed to break down data silos and enable cross-sector collaboration.

Using targeted optimizations to avoid disruptions

While exploration poses a bottleneck to the development of new projects for future supply, disruptions to existing operations significantly impact current output.

It’s often impossible to predict major events like extreme weather, civil unrest or regulatory changes. However, operators can foresee some disruptions that result in hundreds of hours of downtime throughout the industry every year.

Tepponen outlined one persistent problem: oversized rocks and foreign objects making their way through processing plants.

“If an uncrushable rock or piece of metal gets into the crusher, it can cause blockages, damage belts and create significant downtime,” he said. “If it travels downstream, it can damage equipment and create critical bottlenecks.”

In Western Australia, BHP employs a hub-and-spoke model that connects five mines to a central processing facility. If one of the hazards disrupts operations at the facility, it can affect operations at the mines connected to it.

Additionally, fixing these issues exposes maintenance teams to higher-risk tasks, so eliminating the problem in the first place improves both productivity and safety.

Tepponen explained that historically, workers would be used to identify the hazards before they were loaded onto the truck, but once they reached the conveyor, they became much harder to remove.

The company now employs a real-time monitoring system that detects objects, alerts controllers and can automatically stop the conveyor.

“These are actually very simple technologies available commercially off the shelf. Cameras and machine learning control systems applied to a real world operational constraint,” he said.

In the prior three years, these incidents had caused over 1,000 hours of downtime, according to Tepponen. However, since it installed the monitoring system, the company hasn’t experienced any major disruptions or destruction events caused by oversized rocks, a change that he said amounts to hundreds of thousands of metric tons per year of increased processing.

“It’s a small system-level optimization that can deliver outsized returns on the AI journey. This is not a massive program. This is identifying simple constraints, applying proven technology,” he said, and emphasized the process of controlled testing, iteration and then deploying at scale. ‘That’s how systematic innovation actually happens.’

Testing scenarios with digital twin simulations

In his third use case example, he turned to BHP’s semi-autogenous grinding (SAG) mill at its Escondida operation in Chile, at which differing particle size and hardness in ore feed was impacting production.

The company used AI to create a digital twin of the value chain, which included everything that was known about the operation, such as ore body knowledge, processing behavior and operational constraints.

“That digital simulation enabled scenario testing and gave us the ability to inform blasting and blending strategies to predict granularity,” Tepponen said, noting that monthly production losses attributed to the problem fell by around 70 percent.

“The lesson, when the ore body knowledge is connected directly to the processing decisions, the system becomes more stable and predictable.”

BHP has since applied the approach to other operations, including ones in Australia and Chile.

“The Gen AI integration is multicultural, so non-technical users and the technical users can run scenarios in their first language,” he said, an aspect that he said is very important for the local companies at its operations.

Building foundations, collaboration key to AI usefulness

Tepponen was emphatic that AI alone wasn’t a “superhero.” BHP needed to specifically design these AI platforms in order to achieve these results.

“One of the most important lessons we have learned is we don’t actually get value from AI by starting with AI. The value comes from the foundations, consistent data standards, interoperability. You need to start at the bottom and make your way to the top.”

Tepponen also stressed the value of collaboration, noting that companies tend to be protective of their intellectual property, but opportunities are being missed that could be mutually beneficial.

“The hard truth is, no company can solve this problem of data fragmentation and system integration,” he said, and the industry would benefit from a collaborative approach on standards, interoperability and data throughout the value chain.

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

This post appeared first on investingnews.com

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Politics

Trump is realigning world energy markets and the Iran strikes are actually helping

Politics 8 Mins Read

Iran’s tyrannical and ruthless regime is disintegrating. After yet again massacring thousands of its own citizens for voicing their dreams for liberty and better governance, the Iranian regime meantime resumed pursuing nuclear capability and its aggressive ICBM program. The regime’s overconfidence in U.S. inaction cost it its leader and its core military capabilities are going up in smoke. Against this backdrop, the conflict has spread to the Gulf, threatening the Strait of Hormuz, a chokepoint for roughly one-fifth of the world’s petroleum, and forcing the rest of the world to rethink how it prices energy risk and political alignment.

This is not another regional flare-up. This is a rupture of an old equilibrium in which sanctioned oil, shadow fleets and calibrated escalation kept markets stable enough to function. That equilibrium is now breaking. A rapid political-military shift in the Middle East is unfolding alongside a restructuring of the global energy order.

When I was in Afghanistan during the surge, Tehran’s active support for the insurgency fighting the United States and Afghan forces fomented instability and amplified violence for which civilians paid the biggest price, a dynamic that so many across several nations have tragically encountered for decades. But Iran was never a contained regional problem.

While its terrorism was widely perceived as a Middle East issue, its cyber and intelligence operations spanned continents, with assassination plots that included the American president. As to global effects, Iran’s energy has always made its regime globally significant.

At this stage of the conflict, the most economically significant and immediate geography is the Strait of Hormuz which Iran is working to choke off. Roughly one-fifth of global petroleum and a substantial portion of liquefied natural gas move through that narrow corridor. As strikes intensified, vessels paused transit, insurers reassessed exposure and operators rerouted cargoes. Markets adjusted immediately. Energy security and geopolitical stability are now inseparable; maritime risk has become the pressure valve through which regional conflict spills into global consequence. 

This realignment did not begin in the Gulf this weekend. It started with U.S. actions in Venezuela. Caracas holds the world’s largest proven crude reserves — about 303 billion barrels — and even marginal normalization under a more U.S.-cooperative government alters the supply calculus for Washington and its allies.

The new U.S.–Venezuela arrangement has already generated roughly $2 billion in transactions in just weeks, pulling Venezuelan barrels back into wider circulation and altering the discount ecosystem Moscow had grown accustomed to. Stack that with a post-crisis Iran re-entering markets on different terms, and the shadow ecosystem of discounted, sanctioned crude — Russia, Iran, Venezuela — begins to fracture and reprice simultaneously.

But the most consequential energy recalibration runs through Beijing. China is essentially Iran’s oil export market. In 2025, China bought more than 80% of Iran’s shipped oil, averaging ~1.38 million barrels per day, about 13.4% of China’s seaborne crude imports—meaning Beijing is simultaneously Tehran’s economic lifeline and its strategic choke chain.

By turning a sanctioned producer into a quasi-captive supply relationship — sustained through gray-market routing, reflagging and intermediary hubs — Beijing secured discounted barrels in normal times and leverage in crisis. Any sustained disruption of Iranian flows forces China into replacement buying that tightens global markets and exposes China’s own energy security; Iran exports about 1.6 million bpd mainly to China and such disruptions pushes Beijing to pivot to alternatives.

The relationship is therefore best understood as a dependency loop: Iran needs China for revenue and sanctions relief-by-proxy; China uses Iran as a discount supplier and as a pressure valve in the sanctioned crude system — one that can be tightened or loosened depending on Beijing’s broader negotiation posture with Washington and its appetite for risk in the Gulf. That Iran-China dependency is no longer stable.  With Iranian oil flows disrupted, China faces a choice between turning to alternative suppliers at higher cost or even tapping strategic reserves. Tightening global crude markets resulting from U.S. actions in Venezuela and now Iran give Washington leverage in energy pricing.

Beyond the tanker decks, this shift underscores the larger theme of reconfiguration: resources once bundled to manage sanctions are now subject to heightened geopolitical risk, forcing China to rethink dependencies while the U.S. and its partners are positioning to shape the post-conflict energy order. Energy supply patterns will restructure global power relations. And where China is recalibrating exposure, Russia is recalculating opportunity.

The same forces reshaping China’s calculations are altering Moscow’s. As India trims Russian purchases, Moscow has been pushing more barrels into China, and Reuters reports China’s Russian crude imports hitting new records in February while Russian sellers widened discounts to keep demand — Urals trading roughly $9–$11 below Brent for China deliveries, and other Russian grades also cutting hard as sellers chase Chinese refiners.

The new U.S.–Venezuela arrangement has already generated roughly $2 billion in transactions in just weeks, pulling Venezuelan barrels back into wider circulation and altering the discount ecosystem Moscow had grown accustomed to. 

This matters because China is also the anchor buyer for sanctioned Iranian crude; the ‘discount market’ is not infinite, so Russia and Iran are now competing for the same limited pool of Chinese buyers, driving deeper concessions and leaving cargoes idling — exactly the kind of sanctions-economy dynamic.

Add the West’s tightening focus on Russia’s ‘shadow fleet’ and the risk of seizures or insurance denial, and you get an energy chessboard where coercion moves from rhetoric to logistics: who can ship, insure and clear payments reliably becomes as strategic as who can produce.

In that context, Russia’s loud warnings about Hormuz disruption are not just diplomacy, they are a reminder that Moscow profits from volatility, but also needs a functioning gray-market channel to China, and Iran’s crisis threatens to scramble the very discount ecosystem Russia has used to finance its war in Ukraine. Structural realignment threatens the very gray-market architecture on which Moscow has relied.

Energy is only one layer of a global shift. Strategic minerals remain critical. The Trump administration has increased economic and maritime pressure on Cuba, tightening an effective oil blockade that choked off fuel imports. President Donald Trump has authorized tariffs targeting countries supplying oil to Havana.

This is not simply punitive policy. It reflects a broader strategic doctrine: deny adversarial regimes energy lifelines while repositioning the Western Hemisphere’s resource base toward U.S. leverage. Oil is only one domain. Rare earth elements are a strategic asset. Cuba’s nickel and cobalt output, combined with China’s tightening grip through rare-earth export controls indicates that leverage is not just oil fields but also supply chains. America achieving rare earth elements sovereignty will remain a strategic goal and such a global realignment on this front is much needed.

By the close of the first weekend, Iran appeared intent on accelerating its own collapse by compounding strategic error with strategic error. Iran felt it wise to respond to U.S. and Israeli strikes by pushing a half dozen other nations against it. On Saturday afternoon, Feb. 28, Iran launched attacks on seven sovereign nations – Bahrain, Saudi Arabia, UAE, Kuwait, Qatar, Jordan and Israel. It added Oman shortly after.

These nations now have a legal and political basis to deepen security ties with the U.S. and Israel that they could never have justified domestically before today. Iran has arguably done more to consolidate the anti-Iran regional architecture in one afternoon than a decade of American diplomacy. Watch for accelerated Abraham Accords-adjacent normalization with Saudi Arabia in the coming weeks.

Any sustained disruption of Iranian flows forces China into replacement buying that tightens global markets and exposes China’s own energy security…

After massacring thousands of its own citizens for demanding better governance, the regime’s long-standing presumption of U.S. inaction cost the 1979 Revolution its dream of ruling over Iranians perpetually. After 47 years, its leader is gone, and its core military capabilities are being dismantled.

The lesson is not simply that the Iranian regime is falling. It is that when it falls amid energy chokepoints and great-power competition, supply chains, alliances and leverage structures shift simultaneously. Iran’s collapse is not the end of the story; it is the catalyst for a broader redistribution of power across energy, alliances, and great-power leverage. America should exploit these shifting dynamics fully. 

The views expressed here are his and do not reflect the policy or positions of the Department of Homeland Security, Homeland Security Advisory Council, U.S. Army or Department of Defense. 

Related Article

Gas prices could jump as Middle East tensions threaten global oil supply
This post appeared first on FOX NEWS

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Business

DOJ takes Live Nation-Ticketmaster to court for antitrust trial

Business 5 Mins Read

The Justice Department’s endeavor to break up Live Nation, Ticketmaster’s parent company, has officially made its way to the courtroom.

The antitrust case, which began with jury selection Monday, is unfolding in federal court in New York. Opening statements are scheduled to start Tuesday, with the trial expected to last six weeks.

The lawsuit, filed in 2024 by the Justice Department and dozens of state attorneys general, as well as Washington, D.C., alleges that Live Nation has illegally dominated the live concert industry by monopolizing ticketing, concert booking, venues and promotions.

The complaint, which was filed in the Southern District of New York, accuses the company of engaging in ‘anticompetitive conduct’ that leads fans to pay more in fees, artists to get fewer opportunities to play concerts and venues to have limited choices for ticketing services.

Ticketmaster has for years been the target of scrutiny by music fans who reported frustrations with buying tickets through the platform.

Live Nation directly manages more than 400 musical artists and owns or controls more than 265 concert venues in North America. And through Ticketmaster, the lawsuit says, it controls around 80% of major concert venues’ ticketing — as well as a growing share of the resale market.

“Through interconnected agreements associated with Live Nation’s various roles as ticketer, promoter, artist manager, and venue owner,” the complaint says, “Live Nation has created a feedback loop that pushes ticketing and ancillary fees higher while allowing Live Nation to be on all sides of numerous transactions and thereby double-dip from the pockets of fans, artists, and venues.”

Here’s what else to know.

Attempts to advocate for ticketing reform have spanned decades. The rock band Pearl Jam tried to push the issue forward 30 years ago when its members testified before Congress, saying Ticketmaster had refused to agree to low concert ticket prices and fees. The case was dismissed a year later, and Ticketmaster’s dominance has persisted over the decades that followed.

But frustration over Ticketmaster began to boil over when it incurred the wrath of one of the country’s largest fan bases: Swifties, aka followers of Taylor Swift.

In late 2022, overloaded presale queues for the domestic leg of Swift’s 2023 Eras Tour caused the site to crash and led Ticketmaster to cancel the sale. The fiasco even drew the attention of Swift herself, who called it “excruciating” to watch.

Soon afterward, in January 2023, the Senate Judiciary Committee held a hearing examining Ticketmaster’s dominance in the industry. During the bipartisan hearing, which probed whether Ticketmaster’s outsize control has unfairly hurt customers, even senators couldn’t refrain from making references to Swift.

The Swifties also brought their own lawsuits against Ticketmaster in December 2022. One class-action suit was dropped by the end of 2023, while another suit, filed together by 355 individual ticket buyers, still awaits trial.

Live Nation Entertainment has denied that it’s a monopoly.

The company has told NBC News that the Justice Department’s lawsuit “won’t solve the issues fans care about relating to ticket prices, service fees, and access to in-demand shows.”

“Calling Ticketmaster a monopoly may be a PR win for the DOJ in the short term, but it will lose in court because it ignores the basic economics of live entertainment, such as the fact that the bulk of service fees go to venues, and that competition has steadily eroded Ticketmaster’s market share and profit margin,” the company said.

Last week, Live Nation asked U.S. District Judge Arun Subramanian to pause the case so it could appeal his decision denying the case’s dismissal.

Subramanian, who was appointed by President Joe Biden, declined to delay the trial and ruled to allow the Justice Department’s claims to proceed.

Potential witnesses for the trial include: musician Kid Rock (whose real name is Robert Ritchie), Minnesota Timberwolves CEO Matthew Caldwell, Roc Nation CEO Desiree Perez, Live Nation Entertainment CEO Michael Rapino and Mumford & Sons keyboardist Ben Lovett.

Kid Rock is expected to testify about ‘competitive conditions for concert promotions and primary ticketing, including the impact of Defendants’ actions on artists and fans,’ according to the potential witness list provided by the plaintiffs’ attorneys. In January, he told the Senate Commerce Committee at a hearing that the ticketing industry is ‘full of greedy snakes and scoundrels.’ (It appears Kid Rock is still partnering with Live Nation for his “Freedom 250” tour, with tickets currently being sold exclusively through the platform.)

Lovett’s testimony, meanwhile, would be likely to address ‘artist preferences and competitive dynamics associated with the promotions and amphitheaters markets,’ according to the plaintiffs’ potential witness list document. He’s also listed on the defendants’ potential witness list document.

Live Nation CEO Michael Rapino and former Ticketmaster CEO Irving Azoff are also expected to take the stand. They were instrumental figures in the 2010 merger.

Azoff, who represents major artists such as Harry Styles, is ‘likely to testify about industry trends, dynamics, and competition, the selection of live event promotion companies, and tour and show routing and venue selection, as well as ticketing provider preferences,’ according to the potential witness list provided by the defendants’ attorneys.

Rapino’s expected testimony would focus on ‘the company’s business, its corporate structure, strategy, and finances, including the different lines of business and how they interact, as well as industry trends, dynamics, and competition.’ The defendants’ attorneys also said he would be likely to ‘rebut the plaintiff’s allegations of misconduct and anticompetitive effects.’

Last year, the Federal Trade Commission separately sued Live Nation and Ticketmaster over allegations of illegal and deceptive business practices that it says caused consumers to pay ‘significantly more’ than the face value of a ticket.

Seven states — Colorado, Florida, Illinois, Nebraska, Tennessee, Utah and Virginia — joined the FTC’s suit, which was filed in U.S. District Court for the Central District of California.

This post appeared first on NBC NEWS

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Investing

ILC Critical Minerals Ltd. Does Not Exercise Option to Buy Lepidico Mauritius Ltd.

Investing 9 Mins Read

ILC Critical Minerals Ltd. (TSXV: ILC,OTC:ILHMF) (OTCQB: ILHMF) (FSE: IAH0) (‘ILC’ or the ‘Company’) announces that it has not exercised, nor has it been able to extend, its option to buy 100% of Lepidico (Mauritius) Ltd. (‘Lepidico Mauritius’) from Lepidico (Canada) Inc. (‘Lepidico Canada’) which expired on February 27, 2026. This company controls 80% of the Karibib lithium, rubidium and cesium project in Namibia.

The ILC board had carefully considered the financial and legal risks of the transaction, and supported the exercise of the option. The board had the required funding ready. However TSX Venture Exchange (‘TSXV’) did not give the required approval in time to ILC that would have enabled ILC to complete the transaction. It might have been possible to extend the expiry date of the option further, but this would have required ILC to provide additional working capital to Lepidico Canada. The TSXV went further and also prevented ILC from lending more money for working capital to Lepidico Canada. This had the practical effect on ILC that the option could neither be exercised nor extended.

This is a setback for ILC’s plans in Southern Africa because Karibib has a large lithium resource, the biggest known rubidium resource in Africa, and enough cesium for about one year of world use, and it had already reached Definitive Feasibility Study stage under JORC in 2020. Such advanced stage development projects are hard to find, and the board believed after months of work on the transaction that it could have added considerable shareholder value albeit with some risk.

Lepidico Canada’s board felt that it was not able to continue further as a viable company without the extra funds needed for its working capital needs. While ILC’s board would have been willing for ILC to offer this, the block by TSXV made this impossible to offer. As a result Lepidico Canada has now changed ownership. There is still a possibility of ILC being offered involvement in this project, in which case the ILC board would allow an extended period for TSXV’s review processes to complete in such a manner that gives a greater chance of allowing a favourable outcome from TSXV. Obviously however such an outcome cannot be assumed.

By order of the board 

John Wisbey
Chairman and CEO

About ILC Critical Minerals Ltd.

ILC Critical Minerals Ltd., formerly International Lithium Corp., has exploration activities in Ontario, Canada, with intentions to expand into Southern Africa. It has projects at various stages, ranging from Preliminary Economic Assessment at Raleigh Lake to Pre-Drilling at Wolf Ridge. The primary target metals in Canada are lithium, rubidium and copper. There are three projects (two in Ontario and one in Ireland) in which ILC has sold its share, but where the Company stands to receive future payments from either a resource milestone being achieved or from a Net Smelter Royalty.

While the world’s politicians remain divided on the future of the energy market’s historic dependence on oil and gas and on ‘Net Zero’, there is in any scenario an ever-increasing and significant demand for electricity driven by AI and data centres, and by a likely unstoppable momentum towards electric vehicles and grid-scale electricity storage. All of these contribute to rising demand for lithium, copper, and other metals. Rubidium is also a critical metal, strategic for high-precision clocks, space technology, and improving the performance of certain types of solar panels. ILC has seen the politically driven, increasingly urgent push by the USA, Canada, the EU, and other major economies to safeguard their supplies of critical minerals and to become more self-sufficient. The Company’s Canadian and Southern African projects, which contain lithium, rubidium, cesium and copper, are strategic in this regard.

The Company’s key mission for the next decade is to generate revenue for its shareholders from lithium, rubidium and other critical minerals while also contributing to the creation of a greener, cleaner planet and less polluted cities.

This includes optimizing the value of ILC’s existing projects in Canada as well as finding, exploring and developing projects that have the potential to become world-class deposits. The Company has announced that it regards Southern Africa as a key strategic target market and it has applied for and hopes to receive EPOs in Zimbabwe. The board hopes to make further announcements on the portfolio developments over the next few weeks and months.

The Company’s interests in various projects now consist of the following, and in addition, the Company continues to seek other opportunities:

Name Metal Location Stage Area in Hectares Current Ownership Percentage Future Ownership % if options exercised and/or residual interest Operator or JV Partner
Raleigh Lake Lithium
Rubidium		 Ontario Dec 2023 : PEA for Li completed Apr 2023 Maiden Resource Estimates for Li and Rb 32,900 100% 100% ILC
Firesteel Copper, Cobalt Ontario Initial Drilling 6,600 90% 90% ILC
Wolf Ridge Lithium Ontario Pre-Drilling 5,700 0% 100% ILC
Mavis Lake Lithium Ontario May 2023
Maiden Resource Estimate		 2,600 0% 0%
(carries an extra earn-in payment of AUD$ 0.75 million if resource targets met)		 Critical Resources Limited (ASX: CRR)
Avalonia Lithium Ireland Drilling 29,200 0% 0%
2.0% Net Smelter Royalty		 GFL Intl Co Ltd. (owned by Ganfeng Lithium Group Co. Ltd)
Forgan/
Lucky Lakes 		Lithium Ontario Drilling < 500 0% 0%
1.5% Net Smelter Royalty		 Power Minerals Limited (ASX: PNN)

 

The Company’s primary strategic focus at this point is on the Raleigh Lake Project, comprising lithium and rubidium, and the Firesteel copper project in Canada, as well as obtaining EPOs and mineral claims in Zimbabwe.

The Raleigh Lake Project now encompasses 32,900 hectares (329 square kilometres) of mineral claims in Ontario and represents ILC’s most significant project in Canada. To date, drilling has occurred on less than 1,000 hectares of the Company’s claims. A Preliminary Economic Assessment was published for ILC’s lithium at Raleigh Lake in December 2023, with a detailed economic analysis of ILC’s separate rubidium resource still pending. This showed, for the lithium only and not yet taking into account the rubidium, a Post-tax NPV of CAD$342.9 million and a Post-tax IRR of 44.3% p.a. This was based on a spodumene price of US$2,350 per tonne. As at March 3, 2026 the spot spodumene price was back up to US$ 2,220 per tonne. Raleigh Lake is 100% owned by ILC, free from any encumbrances and royalties. The Raleigh Lake Project boasts excellent access to roads, rail, and utilities.

A continuing goal has been to remain a well-funded, strategically run company that turns ILC’s aspirations into reality. Following the disposal of the Mariana project in Argentina in 2021, the Mavis Lake project in Canada in 2022, and the Avalonia project in 2025, ILC has continued to generate sufficient cash inflows to advance its exploration projects.

With increasing demand for high-tech rechargeable batteries used in electric vehicles, energy storage, and portable electronics, lithium has been dubbed ‘the new oil’. It is a key part of a green, sustainable economy. By positioning itself on projects with significant resource potential and solid strategic partners, ILC aims to become a preferred lithium and critical minerals resource developer for investors and to continue building value for its shareholders throughout the 2020s, the decade of battery metals.

On behalf of the Company,

John Wisbey
Chairman and CEO
www.ilccm.com

For further information concerning this news release, please contact info@ilccm.com or ILC@yellowjerseypr.com, or telephone +1 236 358 9100
 

 

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

Except for statements of historical fact, this news release or other releases contain certain ‘forward-looking information’ within the meaning of applicable securities law. Forward-looking information or forward-looking statements in this or other news releases may include: the timing of completion of any offering and the amount to be raised, the effect on results of anticipated production rates, the timing and/or anticipated results of drilling on the Raleigh Lake or Firesteel or Wolf Ridge projects, expected commodity prices, the expectation of resource estimates, preliminary economic assessments, feasibility studies, lithium or rubidium or cesium or copper recoveries, modeling of capital and operating costs, results of studies utilizing various technologies at the company’s projects, the Company’s budgeted expenditures, government permits or approval for licences and licence renewals, future plans for expansion in Southern Africa and planned exploration work on its projects, increased value of shareholder investments in the Company, the potential from the Company’s third party earn-out or royalty arrangements, the future demand for lithium, rubidium, cesium and copper, and assumptions about ethical behaviour by our joint venture partners or shareholders in our projects or third party operators of projects or royalty partners. Such forward-looking information is based on assumptions and subject to a variety of risks and uncertainties, including but not limited to those discussed in the sections entitled ‘Risks’ and ‘Forward-Looking Statements’ in the interim and annual Management’s Discussion and Analysis which are available at www.sedarplus.ca. While management believes that the assumptions made are reasonable, there can be no assurance that forward-looking statements will prove to be accurate. Should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Forward-looking information herein, and all subsequent written and oral forward-looking information are based on expectations, estimates and opinions of management on the dates they are made that, while considered reasonable by the Company as of the time of such statements, are subject to significant business, economic, legislative, and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/286187

News Provided by TMX Newsfile via QuoteMedia

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Noem preps to battle House Dems after bipartisan bashing in Senate over dogs, ICE

Politics 3 Mins Read

Homeland Security Secretary Kristi Noem heads into a second straight day of high-stakes Capitol Hill combat Wednesday, this time facing House Democrats eager to press her on ICE arrests, warrantless operations and the Trump administration’s mass deportation push — all as a partial shutdown clouds her agency.

After sparring with Senate Democrats over DACA arrests and Election Day enforcement, Noem now enters a House Judiciary hearing stacked with vocal critics, from Rep. Jamie Raskin, D-Md. to Rep. Jasmine Crockett, D-Texas., setting up another marathon session over immigration enforcement and executive power.

Noem caught heat from both sides during a Senate hearing Tuesday, when most Republicans praised her work correcting what they view as former President Joe Biden’s failed border policies. But Sen. Thom Tillis, R-N.C., and the entirety of the Democratic side of the dais emphatically confronted her during their questioning time.

In Wednesday’s hearing, Noem is expected to go up against House Judiciary Committee ranking member Raskin early, as the Maryland Democrat has previously pressed for more oversight of Noem and DHS, including rescission of policies allowing warrantless operations.

Rep. Pramila Jayapal, D-Wash., who is likely the committee’s top progressive, has previously called for stricter oversight of DHS and has criticized Noem’s management of ICE as it carries out immigration enforcement operations in cities including Minneapolis and New Orleans.

Rep. Mary Gay Scanlon, D-Pa., will also have a turn to question Noem. Her district in Delaware County was once a reliable Republican stronghold that elected a former Pennsylvania House speaker and leaned toward Trump in 2016. But it has since shifted and sided consistently with Democrats in recent elections.

Scanlon’s district has also featured numerous anti-ICE protests in visible areas such as the major intersection of Baltimore Pike and PA-320 last year, where throngs amassed to wave signs in the county’s commercial hub.

Rep. Jasmine Crockett, D-Texas, who is fighting a tough Senate primary Tuesday night, will question Noem near the end of Wednesday’s session.

Noem will also take questions from Rep. Henry ‘Hank’ Johnson, D-Ga., and Rep. Becca Balint, D-Vt., both of whom clashed with Attorney General Pam Bondi just days ago.

Rep. Eric Swalwell, D-Calif., and Rep. Jesus Garcia, D-Ill., have both been critical of ICE’s activities, as Garcia previously slammed Noem for her agency’s conduct during enforcement operations in his heavily Hispanic district in Chicago.

Noem is expected to have a less confrontational time answering questions from Chairman Jim Jordan, R-Ohio, and his caucus, which includes border-state Reps. Andy Biggs, R-Ariz., Kevin Kiley, Tom McClintock and Darrell Issa, R-Calif.

The wild card in committee hearings is typically Rep. Thomas Massie, R-Ky., who has been criticized by the ‘MAGA’ right for being insufficiently supportive of some of the administration’s policies.

Other members of note on the 44-member panel include Rep. Ben Cline, R-Va., Rep. Jeff Van Drew, R-N.J., Rep. Brandon Gill, R-Texas, Rep. Harriet Hageman, R-Wyo., Rep. Brad Knott, R-N.C., and Rep. Scott Fitzgerald, R-Wis.

On Tuesday, Noem clashed with ranking member Richard Durbin, D-Ill., over arrests of DACA recipients and questioned why Sens. Chris Coons, D-Del., and Alex Padilla, D-Calif., were concerned about ICE being dispatched near polling places on Election Day.

Noem appeared to ask both men whether their concern had anything to do with the idea of illegal immigrants voting in federal elections, which is illegal.

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‘The right thing’: Paxton, Cornyn trade blows in Texas primary but unite for Trump’s Iran strikes

Politics 4 Mins Read

WACO, TEXAS — Two of this primary season’s fiercest rivals have one thing in common: unflinching support for President Donald Trump’s decision to strike Iran.

Texas Attorney General Ken Paxton and Sen. John Cornyn, R-Texas, are both leaning into their relationship with Trump and their record of support over the years as they vie for the Republican nomination in Texas’ contentious Senate primary. While it’s a crowded primary, including Rep. Wesley Hunt, R-Texas, all eyes are on Paxton and Cornyn. 

And as they push for Trump’s coveted endorsement in the final stretch of their intense campaign, their support of the president has remained unwavering.

Paxton told Fox News Digital outside his final campaign event ahead of the March 3 primary that he believed Trump ‘did the right thing’ with Operation Epic Fury. When asked what voters were saying, he said, ‘No one wants foreign wars.’

‘But the reality is, when you’ve got a country that’s trying to build nuclear weapons, that is willing to use them, and that has demonstrated terrorist activity for decades, 40 or 50 years, you’ve got to deal with that, or eventually it comes to you,’ Paxton said.

Cornyn had a front-row view of Trump’s decision.

Chairman of the Joint Chiefs of Staff Gen. Dan ‘Raizin’ Caine said Tuesday during a press conference at the Pentagon that Trump gave the go-ahead to launch Operation Epic Fury while en route to Corpus Christi, Texas, to promote his energy agenda.

Cornyn and others from the Texas delegation were on Air Force One when Trump gave the order. When asked by Fox News Digital whether he was aware of the plan while traveling with the president, Cornyn said Trump was ‘a very cool customer.’

‘He asked us whether we supported a strike on Iran,’ Cornyn recalled. ‘The members of Congress who were there in the cabin of Air Force One all raised our hands and said we did support that, recognizing the gravity of the decision and that only the president, as commander in chief, could make it.’

In Washington, D.C., lawmakers are grappling with the decision, with members of both parties calling for a vote to limit Trump’s war powers in the region. Both Paxton and Cornyn said they are open to debate on the matter.

Cornyn argued it comes down to a simple choice.

‘I want to know who’s standing on the side of American peace and security, and who’s standing on the side of a nuclear-armed Iran,’ Cornyn said. ‘I think that’s the choice.’

How long the country remains involved in the operation remains an open question. Trump said in a video address that the U.S. would continue operations ‘until all of our objectives are achieved,’ but later suggested it could take ‘four weeks or less.’

Some Senate Democrats, including Sen. Andy Kim, D-N.J., argued the strike was ‘the same dangerous and foolish decision’ former President George W. Bush, a fellow Texan, made more than two decades ago in the Middle East.

‘I think the president is doing his best to get in and out. Bush was into nation-building, a very different approach to things. I do not think that’s Trump’s idea here or his endeavor,’ Paxton said. ‘I’m very confident that he’s going to do whatever he can to take them out, and he’s encouraging the people in Iran to take their country back.’

‘He’s not encouraging us to move in and help them do that,’ Paxton added. ‘We’re just taking out the bad guys, and then it’s up to them to build their country in a way that they see fit.’

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Blackrock Silver Receives First of Three Key Permits for the Tonopah West Project

Investing 6 Mins Read

Blackrock Silver Corp. (TSXV: BRC,OTC:BKRRF) (OTCQX: BKRRF) (FSE: AHZ0) (‘Blackrock’ or the ‘Company’) is pleased to announce the issuance by the Nevada Department of Environmental Protection (NDEP), through the Bureau of Air Pollution Control, the Class II Air Quality and Surface Disturbance Permit (the ‘Permit’) for the Company’s Tonopah West mineral project (‘Tonopah West’) located along the Walker Lane Trend in Nye and Esmeralda Counties, Nevada, USA.

The Permit allows for the disturbance of up to 150 acres (60.7 Hectares) at Tonopah West with appropriate dust control measures and an ongoing program using the best practical methods to prevent particulate matter from becoming airborne. The term of the Permit is five (5) years, which can be extended and modified as Tonopah West moves toward permitting and construction of its proposed exploration decline, test mining and bulk sample extraction programs.

Data collection continues for the hydrogeological and geochemical programs that will form the basis for the Water Pollution Control Permit. Five humidity cells are in process to review acid generating potential of the waste and mineralized lithologies that will be encountered and transported to the surface during the tunneling and construction of the exploration decline including stockpiles for mineralized material mined as part of the bulk sample program.

The hydrogeological program is designed to understand the groundwater dynamics focused on potential flow and volumes to support required management and disposal as needed during the test mining and bulk sample phase of the program. Waste dump, stockpiles and portal entry engineering designs are on schedule and will be completed and used to calculate surface disturbance that will be the cornerstone for the Modification to the Nevada Reclamation Permit. The permitting process is on schedule with all permits anticipated by mid-2027. Once all permits are in hand, the Company will decide when to commence with the exploration decline, test mining and bulk sample extraction programs at Tonopah West.

Qualified Persons

Blackrock’s exploration activities at Tonopah West are conducted and supervised by Mr. William Howald, Executive Chairman of Blackrock. Mr. William Howald, AIPG Certified Professional Geologist #11041, is a Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects. He has reviewed and approved the contents of this news release.

About Blackrock Silver Corp.

Blackrock Silver Corp. is an American-focused emerging primary silver developer systematically advancing the high-grade Tonopah West Project, situated in the historic ‘Queen of the Silver Camps’ in a jurisdiction consistently ranked as one of the top mining regions globally. The Company is backstopped by a veteran board and technical team with a proven track record of discovering, financing, and building major precious metal mines in Nevada and globally. Blackrock is committed to establishing a secure, high-margin, domestic supply of silver and gold.

Additional information on Blackrock Silver Corp. can be found on its website at www.blackrocksilver.com and by reviewing its profile on SEDAR+ at www.sedarplus.ca.

Cautionary Note Regarding Forward-Looking Statements and Information

This news release contains ‘forward-looking statements’ and ‘forward-looking information’ (collectively, ‘forward-looking statements‘) within the meaning of Canadian and United States securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this news release relate to, among other things: the Company’s strategic plans; the Company’s permitting initiatives at Tonopah West, including the anticipated receipt of all permits by mid-2027; the proposed commencement of an exploration decline, test mining and bulk sample extraction programs at Tonopah West; the Company’s de-risking initiatives at Tonopah West; estimates of mineral resource quantities and qualities; estimates of mineralization from drilling; geological information projected from sampling results; and the potential quantities and grades of the target zones.

These forward-looking statements reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; the historical basis for current estimates of potential quantities and grades of target zones; the availability of skilled labour and no labour related disruptions at any of the Company’s operations; no unplanned delays or interruptions in scheduled activities; all necessary permits, licenses and regulatory approvals for operations are received in a timely manner; the ability to secure and maintain title and ownership to properties and the surface rights necessary for operations; and the Company’s ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

The Company cautions the reader that forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data; general market and industry conditions; and those factors identified under the caption ‘Risks Factors’ in the Company’s most recent Annual Information Form.

Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

Neither the 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.

For Further Information, Contact:

Andrew Pollard
President and Chief Executive Officer
(604) 817-6044
info@blackrocksilver.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/286059

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Crypto Market Update: Iran Conflict Pushes Bitcoin Further Under US$67K

Investing 3 Mins Read

Here’s a quick recap of the crypto landscape for Friday (February 25) as of 1:30 p.m. UTC.

Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin (BTC) was priced at US$66,270.44, down by 0.4 percent over the last 24 hours.

Bitcoin price performance, March 2, 2026.

Chart via TradingView

Ether (ETH) was priced at US$1,947.16, down by 1.8 percent over the last 24 hours.

Altcoin price update

  • XRP (XRP) was priced at US$1.35, down by 1.8 percent over 24 hours.
  • Solana (SOL) was trading at US$83.41, down by 1.8 percent over 24 hours.

Today’s crypto news to know

Bitcoin slips under US$67,000 as Iran tensions continue

Bitcoin drifted back below $67,000 late Sunday as uncertainty surrounding the Iran-Israel conflict continued to weigh on global risk assets.

The token was down roughly 1 percent over 24 hours, after swinging sharply in response to US-Israel air strikes on Iran and retaliatory activity across the region. Prices had plunged to around US$63,255 early Saturday during the initial shock, only to rebound above US$68,000 later that day amid unconfirmed reports about Iran’s leadership.

Meanwhile, Ether hovered near US$1,950 after tumbling roughly 10 percent in the immediate aftermath of the escalation.

Bitcoin remains down about 23 percent year-to-date and nearly 50 percent off its October peak of US$126,000, with some Wall Street analysts warning a move toward US$50,000 is possible before any durable recovery takes hold.

X lifts crypto ad ban

Social media platform X has reversed course on its crypto advertising policy, removing digital assets and gambling from its list of prohibited industries for paid promotions.

The change opens the door for influencers and key opinion leaders to monetize crypto content legally on the platform, provided they follow new disclosure rules. Under X’s updated Paid Partnership framework, posts created as part of a commercial arrangement must carry a clear “Paid Partnership” label.

“Undisclosed promotions hurt the integrity of the product and lead people to distrust the content they read on X,” said Nikita Bier, the company’s head of product, adding that the update is meant to encourage transparency and regulatory compliance.

Influencers remain responsible for adhering to applicable laws, including Federal Trade Commission guidelines on endorsements. While crypto is no longer banned from paid partnerships, the platform maintains distinctions between sponsored content and traditional advertising placements.

UAE security alert prompts crypto firms to shift to remote work

Major cryptocurrency exchanges in the United Arab Emirates (UAE) have moved staff indoors after the country entered a heightened security posture, with authorities reporting missile interceptions and aerial defense activity across parts of the Gulf.

Binance and Bybit instructed UAE-based employees to remain home and work remotely until further notice. Binance circulated a company-wide notice directing staff to avoid outdoor areas and stay clear of windows and open spaces.

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

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

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Former President Bill Clinton deposed in Epstein probe in potential first for Congress

Politics 6 Mins Read

Most congressional precedents emanate from Capitol Hill.

Most presidential precedents emerge from 1600 Pennsylvania Ave.

But a precedent which may echo around the halls of Congress and the White House for years materialized in recent days in the snow-covered, wooded village of Chappaqua, New York.

That’s where former President Bill Clinton testified under subpoena to the House Oversight Committee as part of its investigation into Jeffrey Epstein. Lawmakers said the panel’s ability to compel testimony from a former president could establish a new precedent going forward — including in matters involving President Trump and the Epstein files.

According to congressional historians, never before has a congressional committee deposed a former president. It was rare enough to have former First Lady and former Secretary of State Hillary Clinton testify the day before. Republicans noted that former President Clinton had previously acknowledged knowing Epstein and traveling on trips that included him.

‘I do not recall ever encountering Mr. Epstein. I never flew on his plane or visited his island, homes or offices,’ said Hillary Clinton after nearly six hours of closed-door testimony before the panel.

House Oversight Committee Chairman James Comer, R-Ky., said Hillary Clinton declared ‘‘You’ll have to ask my husband,’’ more than ‘a dozen’ times during her deposition ahead of Bill Clinton’s the following day.

There are no accusations of wrongdoing against either of the Clintons in connection with Epstein. But the former president’s past ties to Jeffrey Epstein have spurred questions from lawmakers.

‘It’s very difficult to get people in for these depositions of great power and great wealth,’ said Comer. ‘It took seven months, seven months to get the Clintons in here. But we’ve got them in here.’

‘Here’ was Chappaqua, about an hour north of New York City. The Clintons have resided in Chappaqua since President Clinton left office in 2001 and when Hillary Clinton ran for Senate from New York in 2000. Hillary Clinton served as a senator from New York from 2001 until 2009, when she became President Obama’s first Secretary of State.

More specifically, the ‘here’ for the Clintons’ testimony was not a bland office in the Rayburn House Office Building. House members questioned the Clintons at the Chappaqua Performing Arts Center, known locally as ‘ChappPAC,’ a white structure with simple arcades and Greek columns atop a hillside above the Saw Mill River.

The Epstein inquiry is serious, and the unusual venue underscored the extraordinary nature of the proceeding.

Rep. Lauren Boebert, R-Colo., appeared to snap a photo of Hillary Clinton during the deposition, then shared it with conservative media outlets.

‘I admire (Hillary Clinton’s) blue suit. So I wanted to capture that for everyone,’ said Boebert outside the venue.

‘Why did you send the picture?’ asked a reporter.

‘Why not?’ retorted Boebert.

‘We are sitting through an incredibly unserious, clown show of a deposition, where Members of Congress and the Republican Party are more concerned about getting their photo op of Secretary Clinton than actually getting to the truth and actually holding anyone accountable,’ charged Rep. Yassamin Ansari, D-Ariz.

After concluding her testimony, Hillary Clinton told reporters she found the ‘end’ of the deposition to be ‘quite unusual because I started being asked about UFOs and a series of questions about Pizzagate, one of the most vile, bogus conspiracy theories that was propagated on the internet.’

That is a reference to a conspiracy theory that emerged during the 2016 presidential campaign between Hillary Clinton and President Trump. Proponents falsely claimed Democrats operated a child sex trafficking ring out of the Comet Ping Pong pizza shop in Washington. A North Carolina man later drove to Washington, D.C., and fired shots inside the restaurant, telling authorities he was there to rescue children.

Rep. Nancy Mace, R-N.C., asserted that Hillary Clinton was ‘screaming’ at lawmakers during the deposition.

‘She was unhinged,’ said Mace. ‘And I hope that President Clinton is less unhinged today than his wife was yesterday.’

Rep. Anna Paulina Luna, R-Fla., emerged from the Chappaqua Performing Arts Center about 90 minutes into former President Clinton’s deposition to speculate about what may have been behind Epstein and his sex trafficking operation. Luna noted she was speaking only for herself and not other members of the committee.

‘It has become very evident even in the last 24 hours in lines of questioning that Jeffrey Epstein was running an intelligence gathering operation,’ said Luna. ‘I do believe it was a honey pot operation.’

Luna added that it was possible a U.S. intelligence ally was involved, though she provided no evidence for the claim.

One of the five agreed-upon areas of questioning for the Clintons was how Epstein used his connections with powerful figures to hide his crimes. That is why individuals such as former President Clinton and President Trump have surfaced in previously released Epstein-related documents.

The presidency is a unique office, and even President Trump expressed some sympathy for Bill Clinton’s appearance before the Oversight Committee.

‘I don’t like seeing him deposed. But they certainly went after me a lot more than that,’ said the president.

When pressed on Friday, President Trump said he was unfamiliar with the Epstein files.

‘I don’t know anything about the Epstein files. I’ve been totally exonerated,’ said President Trump.

Oversight Committee Republicans were asked whether they agreed with that claim.

‘From all the evidence I’ve seen he’s been exonerated for a long time,’ replied Comer.

‘The Epstein victims have exonerated President Trump. This is a trope that you guys are — a rabbit hole you guys are going down. But he’s been exonerated over and over again by Epstein victims,’ said Mace.

But Democrats questioned why the committee sought testimony from former President Clinton and not President Trump.

‘There is a lot of email correspondence that included President Clinton,’ said Comer.

Rep. Robert Garcia, D-Calif., the top Democrat on the Oversight panel, argued the move set a broader standard.

‘There’s a precedent now,’ said Garcia. ‘We now want President Trump to come in and to testify under oath in front of the Oversight Committee. We want the First Lady, who we know had a relationship as well with Jeffrey Epstein, to come under oath and testify to the Oversight Committee. That is the new precedent that Republicans wanted to set here.’

Garcia added that President Trump ‘has not been exonerated, and we have serious questions for President Trump.’

Rep. Suhas Subramanyam, D-Va., argued that the committee spoke ‘to the wrong president.’

It is unclear whether the panel will seek testimony from President Trump. Democrats have indicated they would consider doing so if they gain control of the House in the fall midterm elections.

Separation of powers is a key component of America’s constitutional system. Only a handful of presidents have ever testified before Congress — and none had previously been deposed as a former president.

The nation’s history includes small communities that have taken on outsized political significance. Lawmakers and legal observers say Chappaqua could now join that list if presidential testimony before Congress becomes more common.

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