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Lundin Mining (TSX:LUN,OTC Pink:LUNMF) has agreed to sell its Eagle mine and Humboldt mill in Michigan to Talon Metals (TSX:TLO,OTCID:TLOFF), pivoting its US-based operations to focus on domestic supply.

The transaction will see Lundin Mining receive 275.2 million Talon shares, representing 18.4 percent of Talon’s outstanding equity, with a total implied value of approximately US$83.7 million based on recent trading prices.

Following the deal, Lundin Mining’s stake in Talon will rise to 19.99 percent.

The Eagle mine, acquired by Lundin Mining in 2013, has produced more than 194,000 metric tons of nickel and 185,000 metric tons of copper. It had generated over US$3.2 billion in revenue as of the third quarter of 2025.

The strategic rationale for the deal centers on consolidating US nickel-copper assets under a single operator, while allowing Lundin Mining to concentrate on its larger-scale copper operations in Brazil and Chile.

Talon will operate the Eagle mine and Humboldt mill while adding new exploration opportunities, including the Tamarack project and its newly discovered Vault zone. Discovered through recent drilling, Vault features 47.33 meters of 11.01 percent nickel and 11.4 percent copper, as well as platinum-group metals.

“The combination of Talon and Eagle will create a pure-play US nickel company anchored by the Eagle mine, the only primary nickel mine currently operating in the United States,” said Lundin Mining President and CEO Jack Lundin.

“This transaction unlocks meaningful synergies, including the opportunity to leverage the Humboldt Mill as a shared, centralized processing facility,’ the executive added.

Darby Stacey, who has managed Eagle mine operations since commissioning, will assume the role of CEO and director of Talon. Lundin Mining will nominate Jack Lundin and Juan Andrés Morel to Talon’s reconstituted 10 member board.

The deal also includes arrangements such as a production payment agreement for non-Eagle ore processed at the Humboldt mill, transitional services provided by Lundin Mining and investor rights protections.

The transaction is expected to close in early January 2026, pending approval from the TSX and customary closing conditions. Talon will continue to trade on the TSX under the symbol TLO.

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

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(TheNewswire)

      

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

TORONTO, ONTARIO (December 22, 2025) TheNewswire – Laurion Mineral Exploration Inc. (TSX.V: LME|OTC: LMEFF|FSE: 5YD) (‘LAURION’ or the ‘Corporation’) is pleased to announce that it has closed its previously-announced non-brokered private placement (the ‘Private Placement’) consisting of flow-through units (the ‘FT Units’). Pursuant to the Private Placement, the Corporation issued 4,619,130 FT Units at a subscription price of $0.33 per FT Unit, for aggregate gross proceeds to the Corporation of $1,524,313.

Each FT Unit consists of one common share of the Corporation (each, a ‘FT Share‘) and one-half of one common share purchase warrant (each, a ‘Warrant‘). Each Warrant entitles the holder thereof to acquire one non flow-through common share of the Corporation at a price of $0.39 per share for a period of 24 months from the date of issuance. The FT Shares and the Warrants comprising the FT Units qualify as ‘flow-through shares’, as defined in subsection 66(15) of the Income Tax Act (Canada) (the ‘Tax Act‘).

The gross proceeds of the Private Placement will be used for ‘Canadian exploration expenses’ (within the meaning of the Tax Act), which will qualify, once renounced, as ‘flow-through mining expenditures’, as defined in the Tax Act, which will be renounced with an effective date of no later than December 31, 2025 (provided the subscriber deals at arm’s length with the Corporation at all relevant times) to the initial purchasers of FT Units in an aggregate amount not less than the gross proceeds raised from the issue of the FT Units. LAURION intends to allocate the proceeds from the Private Placement to advance the Corporation’s 2026 drill program on the Ishkõday property. Planned drilling will focus on key areas within the A-Zone/McLeod and CRK Trend, as well as the historic Sturgeon River Mine area. These zones have been prioritized based on their structural characteristics, surface observations and past drill results, as LAURION continues to build on its growing understanding of the broader mineralized system.

‘This financing enables us to keep advancing our disciplined, technically driven approach to unlocking the potential of the Ishkõday system,’ said Cynthia Le Sueur-Aquin, President and CEO. ‘We are targeting areas with strong structural and geological signals, guided by strong technical fundamentals and a clear strategy for long-term value creation.’

In connection with the Private Placement, certain arm’s-length finders received an aggregate of $66,559 as a cash finder’s commission and an aggregate of 201,693 finder’s warrants. Each finder’s warrant entitles the holder thereof to acquire one non flow-through common share of the Corporation at a price of $0.33 per share for a period of 24 months from the date of issuance.

Pursuant to applicable Canadian securities laws, all securities issued pursuant to the Private Placement are subject to a hold period of four months and one day, expiring on April 23, 2026. The Private Placement remains subject to the final approval of the TSX Venture Exchange (the ‘TSXV‘).

About LAURION Mineral Exploration Inc.

 

The Corporation is a mid-stage junior mineral exploration and development company listed on the TSXV under the symbol LME and on the OTCPINK under the symbol LMEFF. LAURION now has 278,716,413 outstanding shares, of which approximately 73.6% are owned and controlled by insiders who are eligible investors under the ‘Friends and Family’ categories.

 

LAURION’s emphasis is on the exploration and development of its flagship project, the 100% owned mid-stage 57 km2 Ishkõday Project, and its gold-rich polymetallic mineralization.

 

LAURION’s chief priority remains maximizing shareholder value. A large portion of the Corporation’s focus in this regard falls within the scope of its mineral exploration activities and more specifically, advancing the Ishkõday Project. A consequence of LAURION’s success and advancement over the past several years is that the Corporation has become positioned as an acquisition target for appropriate potential acquirors. Accordingly, the Corporation’s Board of Directors is aware that possible strategic alternatives and transactional opportunities may arise and/or could be procured in the short or medium terms. The Corporation will promptly issue a press release if any material change occurs.

 

FOR FURTHER INFORMATION, CONTACT:


LAURION Mineral Exploration Inc.

 

Cynthia Le Sueur-Aquin – President and CEO

Tel: 1-705-788-9186 Fax: 1-705-805-9256

 

Douglas Vass – Investor Relations Consultant

Email: info@laurion.ca

 

Website: http://www.LAURION.ca

 

Follow us on: X (@LAURION_LME), Instagram (laurionmineral) and LinkedIn ()

 

Caution Regarding Forward-Looking Information

 

This press release contains forward-looking statements, which reflect the Corporation’s current expectations regarding future events including with respect to LAURION’s business, operations and condition, management’s objectives, strategies, beliefs and intentions, the use of proceeds of the Private Placement, the Corporation’s ability to advance, expand and/or develop the Ishkõday Project and any possible strategic alternatives and transactional opportunities that may arise and/or could be procured in the future with respect to the Corporation. The forward-looking statements involve risks and uncertainties. Actual events and future results, performance or achievements expressed or implied by such forward-looking statements could differ materially from those projected herein including as a result of a change in the trading price of the common shares of LAURION, the TSXV not providing its final approval for the Private Placement (including the payment of finders’ fees in connection therewith) or any strategic alternatives or transactional opportunities, the interpretation and actual results of current exploration activities, future prices of gold and/or other metals, and those factors disclosed in the Corporation’s publicly filed documents. Investors should consult the Corporation’s ongoing quarterly and annual filings, as well as any other additional documentation comprising the Corporation’s public disclosure record, for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. Subject to applicable law, the Corporation disclaims any obligation to update these forward-looking statements. All sample values are from grab samples and channel samples, which by their nature, are not necessarily representative of overall grades of mineralized areas. Readers are cautioned to not place undue reliance on the assay values reported in this press release.

 

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

  

Copyright (c) 2025 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

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The global lithium market endured a bruising 2025, with persistent oversupply and softer-than-expected electric vehicle (EV) demand driving prices for the battery metal to multi-year lows.

Lithium carbonate prices in North Asia slipped below US$9,550 per metric ton in February — their weakest level since 2021 — triggering production cuts and project delays, particularly in Australia and China. Despite brief rallies later in the year, prices remained under pressure, reflecting a market struggling to absorb rapid supply growth.

That imbalance has been years in the making. Global lithium carbonate output surged 192 percent between 2020 and 2024 while demand lagged, leaving the market with a large surplus.

Analysts estimate that supply exceeded demand by more than 150,000 metric tons in both 2023 and 2024, with inventories continuing to cap price recovery in 2025. Although the surplus is shrinking, high stockpiles have kept prices rangebound, with lithium carbonate largely hovering near US$10,000 for much of the year.

Volatility punctuated the lithium industry in the second half of 2025.

Prices rebounded sharply in July on supply cut speculation, briefly pushing lithium carbonate to an 11 month high above US$12,000 before retreating as producers denied meaningful reductions and inventories remained ample.

Policy uncertainty in the US, including threats to EV incentives, and regulatory signals from China further weighed on sentiment, underscoring the market’s sensitivity to both geopolitics and headlines.

Despite the prolonged downturn, analysts increasingly view 2025 as a potential inflection point. With roughly a third of global production estimated to be unprofitable at current prices, further supply rationalization appears likely.

Forecasts point to a sharply narrower surplus in 2025 and a possible deficit emerging in 2026, suggesting that while lithium’s near-term outlook remains constrained, the sector’s long-term fundamentals — driven by electrification, the energy transition and data-intensive technologies — remain intact.

Lithium in 2025: A tale of two markets

In contrast, the second half of 2025 saw a boost in prices across the lithium space as market fundamentals improved due to Contemporary Amperex Technology (SZSE:300750,HKEX:3750) curtailing operations at the Jianxiawo lepidolite mine in early August. Despite reports that Jianxiawo would restart operations in December, it is unclear if the mine, which is one of the world’s largest, is back in operation.

Concern over the removed supply pushed carbonate prices higher from mid-October through the end of the year, when they rose from US$10,417.37 to US$14,131.44, a 34 percent increase.

Battery energy storage demand key to lithium growth

Another trend Klein pointed to was the rapid growth in the battery energy storage system (BESS) market, which is expected to grow by 44 percent in 2025, representing a quarter of all battery demand.

“We’ve been talking about BESS being a very fast, growing and big part of the market, but it’s now become the consensus opinion that it’s very strong not only in China, but elsewhere,” said Klein.

Although BESS is one of the fastest-growing segments of the battery market, Klein believes its growth potential is not fully understood. “The market’s probably still underestimating that narrative about battery energy storage,” he said, adding that it is only now starting to be understood by people who are in the industry.

“But for the broader, generalist investor who still equates lithium with EVs, they don’t fully understand the battery energy storage angle, so I think they’re still underestimating that,” said Klein. The market is projected to balloon from US$13.7 billion in 2024 to US$43.4 billion by 2030, growing at a compound annual growth rate of 21.3 percent.

Industry analysts expect BESS installations could expand from roughly 205 gigawatt-hours in 2024 to between 520 and 700 gigawatt-hours by 2030, driven by renewable integration, grid stability needs and declining costs.

While EVs have dominated the lithium narrative, Del Real said the real opportunity was “never just a play on EVs or hybrids — it was a play on grid storage, energy storage,” with cheaper battery cells unlocking faster adoption.

That mispricing has created a contrarian opportunity, he added, noting that lithium’s neglect over the past six months has rewarded patient investors. “It’s lonely in the forest sometimes,” Del Real said. But when sentiment turns, “the re-rating can be spectacularly profitable if you know how to play it.”

Lithium exploration budgets evaporate

Lithium exploration budgets were sharply reduced in 2025 as miners retrenched amid prolonged price weakness.

S&P Global’s 2025 corporate exploration strategies study shows that spending on lithium and other critical minerals exploration fell significantly, even as overall non-ferrous exploration dipped only slightly.

Lithium, which had previously broken the US$1 billion mark for exploration spending, saw its allocation cut as junior companies tightened their belts and delayed programs. Cuts were most pronounced in traditional exploration hubs such as Canada, Australia and the US, where weakened junior sectors hit budgets hardest; meanwhile, regions like Chile, Peru and Saudi Arabia recorded relative gains in broader exploration funding.

Lithium remains a structurally important exploration commodity despite a sharp pullback in spending, Kevin Murphy, director of metals and mining research at S&P Global, said during a December webinar.

Murphy described the metal’s rise over the past decade as a “lithium renaissance.”

Once “completely inconsequential for exploration,” lithium has become the third most explored commodity globally over the past five years, underscoring how central it has become to future-facing supply chains.

However, that momentum stalled in 2025 as ongoing price weakness forced a reset. Murphy said lithium exploration budgets were “absolutely gutted,” falling to roughly half of 2024 levels, a decline he described as expected given depressed prices and the completion of several late-stage programs that wrapped up in late 2024 and early 2025.

“The lithium price has been depressed for too long for the budgets to be resilient,” he said, framing the downturn as cyclical rather than structural.

Lithium stocks stage H2 rally

Speaking at this year’s Benchmark Week event in November, Sean Gilmartin, senior equity analyst at Bloomberg, explained that lithium equities staged a sharp rebound in H2 after years of underperformance.

After lagging broader materials and chemical indexes for much of the first half of the year, lithium stocks surged in the second half of the year, closely tracking rising spot prices.

“Over a three year window, lithium names were still very much lagging,” Gilmartin said, “but we’ve flipped the script in a few months. Year-to-date, we’re seeing on average 47 percent gains, closely aligned with spot markets.”

He attributed the turnaround to stronger-than-expected lithium demand, particularly from BESS, as well as supply curtailments in China, which have tightened the market.

Despite the rebound, he cautioned that volatility remains a defining feature of the lithium equities space.

“You need to have a long-term view, and you have to be very adherent to your thesis,” Gilmartin said, noting that the demand story remains intact and that fundamentals continue to support growth through 2026 and beyond.

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

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Nickel prices were stagnant in 2025, trading around US$15,000 per metric ton (MT) for much of the year.

The metal’s primary price motivation stemmed from persistent oversupply from Indonesian operations.

Overall, sentiment remained weak amid soft demand growth from the construction and manufacturing sectors, and declining interest in nickel as electric vehicle (EV) battery makers began to eye cheaper chemistries.

Nickel supply in 2026

The big question going into the new year is if nickel supply and demand will come into balance.

The most significant contributing factor over the last several years has been an abundance of supply from Indonesia, which has become the world’s top nickel producer.

The US Geological Survey estimates that full-year 2024 nickel production came in at 2.2 million MT, a staggering increase over the 800,000 MT it believes the nation produced in 2019.

In February 2025, the Indonesian government changed its quota system, effectively increasing nickel ore output to 298.5 million wet metric tons (WMT) from 271 million WMT in 2024. At the time, it said the increased production capacity was being limited to major production areas and was designed to reduce supply pressures.

The increase helped drive the amount of nickel sitting in exchange warehouses. Stockpiles at the London Metal Exchange (LME) had risen to 254,364 MT by the end of November, up from 164,028 MT at the start of 2025.

Meanwhile, the nickel price sank to US$14,295, toward the lower end of profitability for low-cost Indonesian miners.

The profitability question has raised the possibility of cuts — according to Shanghai Metal Market, the Indonesian government is proposing to cut nickel ore output to around 250 million MT in 2026. If the reduction comes to pass, it would mark a significant decline from the 379 million WMT laid out by Indonesia in 2025. Discussions on the final amount are ongoing, and the outlet states that it will be some time before the target is finalized.

“The global market is still forecast to remain in surplus — around 261,000 MT in 2026 — so further cuts would need to be significant to alter fundamentals,” she explained.

Additionally, there could be a wait-and-see approach as other new policies adopted by the Indonesian government in 2025 begin to take hold. The first, introduced in April, saw a shift from a flat 10 percent royalty to a more dynamic rate of 14 to 18 percent, depending on nickel prices. The second came in October, when the government cut the validity period of mining licenses from three years to one, providing the government greater oversight of production levels.

These prices, however, aren’t supportive of western producers, which began curtailing operations in 2024 when the LME average price was US$16,812 and reached US$21,000 in May of that year.

For her part, Manthy suggested that to get back to that range, there needs to be a more coordinated approach to constraining supply, and it may not make an immediate difference.

“To push prices to that range, cuts would need to be deep enough to erase most of the projected surplus. Given the scale — hundreds of thousands of MT — this seems unlikely without coordinated action. Even then, investor sentiment would probably require sustained prices above US$20,000 to materially improve producer attractiveness,” she said.

Nickel demand in 2026

The challenges faced by nickel go beyond oversupply; demand growth for the base metal is also soft.

Nickel’s primary use case is in the production of stainless steel, much of it destined for the Chinese housing market, which has yet to recover from its collapse in 2020.

While the Chinese government tried to stabilize the market in 2024 and earlier in 2025, it has done little to reverse the downward trend. According to a CNBC report on December 2, November sales were down 36 percent from the same period in 2024, and declined 19 percent through the first 11 months of the year.

“China’s property sector weakness has weighed on stainless steel demand, which accounts for over 60 percent of global nickel consumption. Even with broader economic growth, this stagnation has kept nickel prices subdued. A property turnaround would help, but given the surplus outlook, price upside would likely be limited,” Manthey said.

Adding to nickel’s woes is soft growth from the EV market.

Much of the increase in nickel production over the last five years was to fuel the need for EV batteries, but more recently producers like Contemporary Amperex Technology (SZSE:300750,HKEX:3750), one of the world’s largest battery makers, have shifted chemistry to lithium-iron-phosphate (LFP).

Nickel-manganese-cobalt batteries had been seen as superior due to their higher energy density and longer range. But recent advances in LFP technology have erased that gap, with vehicles using the chemistry achieving ranges of over 750 kilometers. Additionally, LFP batteries are cheaper to produce and less volatile, making them safer.

According to a December 1 Reuters article, nickel battery demand rose 1 percent year-on-year in September, while LFP battery demand increased 7 percent. However, the news outlet notes that most of the nickel demand was likely driven more by a rapidly growing EV market than by the benefits of its chemistry.

Although Reuters also notes that nickel chemistry remains the dominant battery technology in western EV markets, that too comes with a caveat, especially in the US, where the elimination of the EV tax credit in September has cratered EV demand. While US EV sales reached a record 1.2 million through the first nine months of 2025, much of that was driven by consumers seeking to take advantage of the US$7,500 credit before it expired.

Early data from Cox Automotive analysis indicates that American EV sales are down 46 percent in Q4 from the third quarter, and 37 percent from the same period last year.

Against that backdrop, Ford Motor (NASDAQ:F) has scaled back its EV plans, taking a US$19.5 billion writedown, and will pivot to extended-range EVs — which use gas-powered engines to augment range — and hybrid cars. Similarly, in mid-December, the EU dropped its plans to ban the sale of all internal combustion engine light vehicles by 2035.

These policy changes likely aren’t good news for nickel watchers.

“Any slowdown in energy transition policies adds to bearish sentiment for battery metals, including nickel,” Manthey said.

Nickel price forecast for 2026

Manthey suggested that nickel prices will remain under pressure throughout 2026.

“We expect prices to struggle to hold above US$16,000 given the surplus. Upside risks hinge on unexpected supply disruptions or stronger-than-forecast stainless and battery demand, but sustained levels above US$19,000 look unlikely under current fundamentals. We see prices averaging US$15,250 in 2026,” she said.

That’s in line with the World Bank’s 2026 nickel price outlook of US$15,500, rising to US$16,000 in 2027.

The primary reason for these projections is the ongoing nickel market surplus.

While it didn’t make a price prediction, Russia’s Nornickel, one of the world’s largest nickel producers, suggests that the market will see a surplus of 275,000 MT of refined nickel in 2026.

Low prices will be a challenge for nickel producers and investors alike. Until there is a shift in market fundamentals, a rebound for nickel doesn’t appear to be in the cards in the short or even medium term.

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

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The Department of War announced Monday that the Pentagon is partnering with Elon Musk’s artificial intelligence (AI) ecosystem to deploy Grok across its government systems.

The agency said the ‘frontier‑grade’ capabilities of xAI’s Grok family of models will be integrated into the department’s recently launched AI platform, GenAI.mil

As soon as early 2026, the partnership will allow the Department’s 3 million military and civilian personnel to safely access more advanced AI tools for everyday tasks, including handling sensitive government information.

According to xAI, its tools can support administrative tasks at the federal, state and local levels, as well as ‘critical mission use cases’ at the front line of military operations.

‘Today, the War Department officially entered into an agreement with xAI, paving the way for the deployment of its advanced capabilities on GenAI.mil,’ the department said. ‘This move builds on the rapid deployment of cutting‑edge AI across the Department’s 3 million military and civilian personnel.’

The tools will allow employees to use xAI safely on secure government systems for routine work, including tasks involving sensitive but unclassified information, without violating security protocols.

With xAI designed to analyze real-time data, the War Department said the partnership would give personnel ‘a decisive information advantage.’ 

Grok will give personnel access to live information from X, providing the War Department with faster situational awareness around the globe, the department said.

xAI added that the partnership could lead to potential future classified workloads. 

‘Through an ongoing, long-term partnership with the DoW and other mission partners, xAI will make available a family of government-optimized foundation models to support classified operational workloads,’ the company said.

The War Department said that it will continue to scale its AI ecosystem for speed, security and decision superiority.

‘This announcement marks another milestone in America’s AI revolution, and the War Department is driving that momentum forward,’ the department said. 

‘These two new partnerships are part of our longstanding support of the United States Government and xAI’s mission to bring the best tools and technologies available in industry to benefit our nation,’ xAI added.

The collaboration marks another chapter in Elon Musk’s long-running relationship with government initiatives.  

Musk previously helped lead the Trump administration’s Department of Government Efficiency, where he briefly reformed operations and cut excess spending within the federal government. 

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The Social Security Administration’s (SSA) internal watchdog has confirmed that the agency’s publicly reported phone service data was accurate and that performance improved during fiscal year 2025, according to a new audit completed after Sen. Elizabeth Warren, D-Mass., questioned whether the figures could be trusted.

The Office of the Inspector General (OIG) reviewed the SSA’s national 800-number telephone metrics and found that the data the agency released to the public was correct, and that overall service improved during fiscal year 2025, according to a draft audit report provided to agency leadership ahead of public release. The report did not issue any recommendations to the agency.

The review was initiated after Warren expressed concerns in June about long wait times and the reliability of SSA’s phone performance data. She formally requested an audit on July 24, prompting SSA Commissioner Frank J. Bisignano, who serves under President Donald Trump, to agree to an independent review by the watchdog.

The audit found that SSA served 68 million callers during fiscal year 2025, either through live agents or automated systems, a 65% increase from the prior year. Average wait times fluctuated early in the year but improved steadily, according to the audit, ending the fiscal year at roughly seven minutes in September after peaking at about 30 minutes in January.

The metric cited by the agency, known as Average Speed of Answer, measures only the time callers actively wait on hold before speaking to an employee and does not include time spent waiting for callbacks.

‘Last year, people waited 40 minutes on the phone, and now they’re in single digits. We’re doing twice as many calls,’ Bisignano said.

In an exclusive interview with Fox News Digital, Bisignano said the audit confirmed what agency leadership had been reporting publicly about improvements in service levels.

‘Senator Warren was completely wrong in everything that she was saying, and it’s now been proven out,’ Bisignano said, citing the watchdog’s finding that SSA’s publicly reported telephone metrics were calculated accurately.

Bisignano said he welcomed the audit and was confident the data would withstand independent scrutiny.

The inspector general’s report concluded that SSA’s telephone performance improved during fiscal year 2025 largely because of operational changes, including the rollout of a new cloud-based telecommunications platform, expanded automation and staffing realignments. The platform, implemented in August 2024, allowed SSA to increase call capacity, expand self-service options and monitor performance in real time, according to the report.

The watchdog also confirmed that SSA’s internal data-verification process ensured accuracy by comparing raw data with reported metrics and working with vendors to resolve any discrepancies. The audit found no evidence that the agency misrepresented its national 800-number performance.

Bisignano said improvements were driven by a combination of technology, process changes and workforce adjustments.

The report explains that SSA experienced especially high call volumes between January and March 2025 due to Medicare and tax-related questions, as well as the implementation of the Social Security Fairness Act of 2023, which affected more than 3.2 million beneficiaries. 

Despite the surge, the agency reduced average wait times over the course of the year.

The audit also found that about 25 million calls during fiscal year 2025 ended without callers receiving service, either because callers disconnected, did not answer callback attempts or encountered busy signals. Those calls were not included in the agency’s wait-time metrics.

Automation played a growing role in absorbing the surge. According to the audit, automated systems handled an average of nearly 2.9 million calls per month in fiscal year 2025, up from about 300,000 per month the year before. Automated services allowed callers to complete common tasks without speaking to a live agent, reducing pressure on phone lines.

The inspector general also reviewed how SSA calculates its Average Speed of Answer metric, which measures the time callers actively wait on hold before speaking to an employee. The audit clarified that callers who accept a callback are counted as having zero active wait time, a methodology that reduces the average but does not include the time callers wait to receive callbacks.

Bisignano said transparency about how the numbers are calculated is essential.

‘We figured out how to leverage technology, process engineering, and human capital,’ he said.

Staffing changes also contributed to the turnaround. Early in fiscal year 2025, the number of employees available to answer national 800-number calls declined by about 13%. By July, SSA began assigning roughly 1,000 field office employees each day to help handle national call volume. The audit found that this coincided with sharp improvements in wait times, with Average Speed of Answer dropping from about 13 minutes in June to roughly 7.5 minutes in July.

The audit did not evaluate service levels or wait times at local Social Security field offices.

Beyond wait times, the audit found that service quality remained high. About 87% of callers who responded to post-call surveys said their issue was resolved on the first contact. The survey results reflect feedback from callers who reached an SSA employee and do not include callers who only used automated services.

Bisignano said the improvements matter most for seniors and beneficiaries who rely on Social Security services.

‘We’re investing in Social Security and servicing the American public at a level they’ve never been serviced before,’ he said. ‘We’ll meet you where you want to be met: on the phone, in the field offices or on the web.’

He added that people who haven’t called the agency recently may be surprised by how much has changed.

‘What would surprise them the most is how quickly they can get their phone call answered,’ he said.

Looking ahead, Bisignano said the agency plans to continue expanding digital services and reducing backlogs, including in disability claims, while maintaining accountability through ongoing oversight.

‘Expect us to always have double-digit improvements in every metric we have,’ he said. ‘This is just the beginning.’

The OIG report in full can be read here.

‘The bottom line is that Donald Trump’s Social Security chief lied about call wait times to cover up his customer service mess,’ Sen. Warren said in an email to Fox News Digital. ‘This new watchdog report reveals that true wait times were more than three times higher than what Commissioner Bisignano claimed, and tens of millions of callers were simply unable to get help on the phone at all.’

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The Justice Department on Monday appealed the dismissal of its criminal cases against former FBI director James Comey and New York Attorney General Letitia James, making good on its vow to revive both cases despite what appear to be significant legal and procedural hurdles.

Lawyers for the Trump administration appealed both cases Monday to the Fourth Circuit Court of Appeals, based in Richmond, Va. 

‘The power to appoint an interim U.S. Attorney for the Eastern District of Virginia pursuant to 28 U.S.C. § 546 during the current vacancy lies with the district court until a U.S. Attorney is nominated by the President and confirmed by the Senate,’ the Justice Department said in its appeal.

Both appeals challenge a ruling handed down by U.S. District Judge Cameron Currie in November, which found that former Trump lawyer Lindsey Halligan was illegally appointed to her role as interim U.S. attorney for the Eastern District of Virginia. 

Because Halligan was unlawfully appointed — and was the sole prosecutor who secured the indictments — Currie ruled that the indictments were invalid and dismissed both cases without prejudice.

‘Ms. Halligan has been unlawfully serving in that role since September 22, 2025,’ Currie said in an opinion filed in both cases. 

‘All actions flowing from Ms. Halligan’s defective appointment’ as a result, he said, ‘constitute unlawful exercises of executive power and must be set aside.’

Attorney General Pam Bondi vowed then to ‘immediately’ appeal the decision, and FBI Director Kash Patel said the FBI and Justice Department are exploring other options to keep the case against Comey alive.

James was charged with two counts of bank fraud and making false statements to a financial institution during her 2020 purchase of a home in Norfolk, Virginia. 

Comey was charged with making false statements to Congress and for obstruction related to his testimony in September 2020. 

Currie dismissed Comey’s case and James’ case ‘without prejudice’ – a detail that left the door open for the government to secure new indictments.

Prosecutors ultimately attempted, without success, to re-indict both Comey and James, prompting new questions about the strength of the case.

Federal prosecutors twice tried and failed to secure a new indictment against James from grand juries in Norfolk and then in Alexandria. Neither effort was successful.

In Comey’s case, a separate judge ordered prosecutors to erase certain evidence – including emails and data – that had played a central role in the Justice Department’s case.

Comey’s case also raises statute-of-limitations concerns, as both charges carried five-year limits that expired Sept. 30 – just three days after Bondi installed Halligan at the U.S. Attorney’s Office.

It is unclear whether the judge’s order ‘resets the clock’ on the statute of limitations under a federal law, as Trump’s allies have argued it should. 

Under the same law, a dismissal by the Fourth Circuit U.S. Court of Appeals would trigger a 60-day window for the Trump administration to re-indict Comey.

The Justice Department notified the lower court Monday that it had filed both requests to the Richmond-based U.S. Court of Appeals for the Fourth Circuit. 

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The Federal Communications Commission announced on Monday that it would ban new foreign-made drones, citing national security concerns.

The FCC said it was adding uncrewed aircraft systems (UAS) and their critical components made in China and other foreign countries to its ‘covered list’ that features equipment that has been determined to pose an ‘unacceptable risk’ to U.S. national security and the safety of Americans. Specific drones or components would be exempt if the Pentagon or Department of Homeland Security determined they did not pose such risks.

The distinction prohibits the products from being sold or imported in the U.S. The order does not apply to technology that has already been sold in the U.S.

The agency said that allowing foreign-made UAS and component parts to be sold in the U.S. ‘undermines the resiliency of our UAS industrial base, increases the risk to our national airspace, and creates a potential for large-scale attacks during large gatherings,’ citing upcoming events such as the 2026 World Cup and the 2028 Summer Olympics in Los Angeles.

‘Criminals, terrorists, and hostile foreign actors have intensified their weaponization of these technologies, creating new and serious threats to our homeland,’ the FCC said in its notice.

The announcement comes a year after a defense bill was adopted that raised national security concerns about Chinese-made drones, which have been used in farming, mapping, law enforcement and filmmaking.

The bill called for stopping two Chinese companies — DJI and Autel — from selling new drones in the U.S. if a review found they posed a risk to U.S. national security.

A spokesperson for DJI said in a statement that it is ‘disappointed’ by the FCC’s decision and that ‘no information has been released regarding what information was used’ in the government’s determination to add its drones and component parts to the covered list.

‘Concerns about DJI’s data security have not been grounded in evidence and instead reflect protectionism, contrary to the principles of an open market,’ the statement said.

The House Select Committee on the Chinese Communist Party praised the FCC’s move, saying it ‘strongly supports’ the decision.

‘It will help safeguard our national security, protect the American people, and wind down the unacceptable national security threat posed by DJI and other Chinese drones,’ the committee wrote on X.

‘Taken together with the Administration’s recent executive actions to accelerate domestic drone commercialization, this sends an unmistakable signal to American industry: The U.S. is open for drone innovation—and American manufacturing will be rewarded,’ it added.

Arthur Erickson, chief executive officer and co-founder of the Texas-based drone-making company Hylio, told The Associated Press that the departure of DJI would provide more opportunity for American companies like his to grow. He said new investments are coming in to help him boost production of spray drones, which farmers use to fertilize their fields, and it will bring down prices.

But Erickson also called it ‘crazy’ and ‘unexpected’ that the FCC would expand the restrictions to all foreign-made drones and their components.

‘The way it’s written is a blanket statement,’ Erickson said. ‘There’s a global-allied supply chain. I hope they will clarify that.’

The Associated Press contributed to this report.

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For Americans wondering about the future of China and its relationship with the West, the latest verdict in the Jimmy Lai case proves an ominous harbinger of Hong Kong’s continued slide towards authoritarianism. Lai, the self-made billionaire, media entrepreneur and pro-democracy activist, has been held prisoner of the Chinese Communist Party for five years under Hong Kong’s National Security Law. He was finally convicted Dec. 14 on trumped-up charges of sedition.    

This verdict, handed down in 855 pages of meaningless gobbledygook, is Lai’s second conviction during his state-sponsored persecution since Hong Kong’s 2019 pro-democracy protests. Lai was previously found guilty of lease violations in connection with Apple Daily, his popular former newspaper that was closed by the Chinese government in 2021, and sentenced to 69 months in prison. The latest charges, for which Lai will be sentenced in early January, carry a penalty of 10 years to life in prison.   

Of course, these nuances and timelines are meaningless; Lai has been imprisoned since December 2020, with his case delayed, extended, postponed, appealed and otherwise stage-managed in accordance with the wishes of the CCP. Lai was also denied the lawyers of his choice. Hong Kong will likely throw the book at him in January, and Lai – already in failing health due to the apparently inhumane conditions of his solitary confinement – will face eventual death in prison. It’s a grim birthday present for Lai, who turned 78 recently.  

How did we get here? Lai knows why, describing himself as a ‘troublemaker, but one with a good conscience.’ ‘The establishment hates my guts,’ Lai says, and you’d have to say he’s earned that hatred from a leadership in Beijing and now Hong Kong that doesn’t tolerate dissent. Having participated in Hong Kong’s pro-democracy protests in 2019, supported the Umbrella Movement in 2014, and expressed public concern in the aftermath of 1989’s Tiananmen Square massacre, Lai has long been a thorn in the side of the CCP.   

Lai’s irreverent, pro-free-speech publications, Apple Daily and Next Magazine, frequently reported unwelcome facts, challenged the status quo and asked hard questions of Chinese officialdom amid growing state censorship. It was Lai’s courageous, decades-long commitment to democratic values that led my organization, The Fund for American Studies, to honor him in 2022 with the Kenneth Y. Tomlinson Award for Courageous Journalism.

Among all his causes, Lai’s most dear was the protection of his adopted city, Hong Kong. Having escaped there as a child after growing up in 1950s mainland China, Lai knew firsthand that Communist regimes deprive their people of fundamental freedoms. Despite China’s treaty agreement with the U.K. and the CCP’s ‘one country, two systems’ commitment, which guaranteed Hong Kong’s autonomy until at least 2047, Lai foresaw that the CCP would accelerate its ultimate takeover of Hong Kong.   

The mainland’s creeping authoritarianism is why my organization ended its program at the University of Hong Kong after 2019. We foresaw the coming crackdown in Hong Kong, and this week’s verdict is one more nail in the coffin of Hong Kong’s once internationally respected legal system. In a chilling coincidence, Hong Kong’s Democratic Party, the city’s largest opposition group, also voted to disband on the eve of the verdict. Unfortunately, our worries (and Lai’s) about Hong Kong’s future have been proven true.

Where do we go from here? First, Western leaders must continue to seek Lai’s release on humanitarian grounds. U.K. Prime Minister Keir Starmer plans to visit China next month, and his government has said that freeing Lai (who is a British citizen) is a priority. This week, President Donald Trump also asked Chinese leader Xi Jinping to free Lai. With Lai’s formal conviction now public, it may open up space for a diplomatic resolution. Now is the time to ramp up the pressure for his release.  

Second, the West must remain vigilant in the face of China’s continued belligerence toward its neighbors and its suppression of values such as freedom of speech, religious liberty and press freedom. These are values under siege worldwide. Journalists, religious figures and democracy advocates have been killed or imprisoned for exercising these rights. Jimmy Lai is an example of incredible bravery and commitment to democratic values, but his imprisonment is also a sobering warning of the dangers of authoritarianism.  

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