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Mining giant BHP (ASX:BHP,NYSE:BHP,LSE:BHP) has begun accepting applications for the 2026 edition of its Xplor Critical Minerals Accelerator Program.

Now in its fourth edition, Xplor currently holds an alumni network of 21 companies, including the likes of Cobre (ASX:CBE) and Hamelin Gold (ASX:HMG).

“Xplor has quickly become a recognised pathway for early-stage explorers who want to scale faster and think more boldly,” said BHP Group Exploration Officer Tim O’Connor.

“The program provides not only capital, but access to the knowledge, networks, and technical depth that can fundamentally change the trajectory of a company,” he added.

As in previous cohorts, Xplor 2026 participants can receive up to US$500,000 in equity-free funding, mentorship and access to BHP’s global network of suppliers and service providers.

Early-stage explorers are encouraged to apply, as long as they arededicated to uncovering new sources of critical minerals essential for a sustainable future.”

In 2025, eight junior mining companies targeting copper and other critical minerals were selected by BHP. These included Canadian company Viridian Metals (CSE:VRDN) and ASX-listed German company GreenX Metals (ASX:GRX,LSE:GRX).

Current participant Electrum Discovery (TSXV:ELY,OTC:ELDCF) said that being part of BHP Xplor is invaluable.

“The program has given us access to expertise and resources that have helped sharpen our strategy and move our projects forward more quickly,” said CEO Elena Clarici.

“It has also opened doors to networks and opportunities that would have been much harder to access on our own. Xplor is already making a real difference in how we grow as a company.”

Xplor was launched in 2022 to assist companies in accelerating exploration opportunities and developing new critical minerals sources. It is split into three tracks: technical readiness, business readiness and operations readiness.

“As the world’s demand for critical minerals intensifies, building strong partnerships between majors and juniors will be essential,” O’Connor added.

“Xplor is about more than accelerating exploration projects, it’s about shaping a new way of working together to unlock the resources needed for the future.”

The deadline for 2026 submissions is October 15, 11:59 PM AEST.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

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The European Central Bank (ECB) has signed a framework agreement with security technology firm Giesecke+Devrient (G+D) and its partners Nexi and Capgemini to deliver offline payment capabilities for the digital euro.

The trio, led by Munich-based security firm G+D, ranked first among tenderers for the contract to design, implement and partially operate the system that will allow users to make digital euro payments without internet or power connections.

Offline functionality has been positioned as a defining feature of the digital euro. From the outset, the ECB has emphasized that a central bank digital currency must provide privacy and resilience comparable to cash.

Payments under the offline model are stored directly on user devices such as smartphones, cards or other compatible tools, and are settled locally between devices without passing through banks, payment providers, or the central bank itself.

According to the ECB, this structure ensures transactions remain private and reliable, extending the reach of the euro in digital form while preserving the characteristics of physical cash.

The digital euro is also intended as a complement to banknotes and coins, available to anyone across the euro area and functioning as a universal means of payment.

“We are proud to lead this pan-European cooperation, working together with our partners Nexi and Capgemini to bring the digital euro’s offline capabilities to life,” said Dr. Wolfram Seidemann, CEO of G+D Currency Technology. “This milestone underscores our commitment to innovation and security in digital payment solutions while preserving the privacy and resilience that citizens expect from cash.”

Under the new agreement, G+D and its partners will work with the ECB to finalize the design, integration and development of the Digital Euro Service Platform (DESP). The Governing Council of the ECB will oversee the process in line with European legislation, ensuring the solution is consistent with current monetary and financial policy goals.

G+D brings longstanding expertise in currency technology and security systems to the project. Its partners, Nexi and Capgemini, will contribute specialized knowledge in payment infrastructure and technology integration.

Nexi, a major European payments company, is tasked with ensuring that the digital euro integrates seamlessly with existing point-of-sale systems.

Capgemini on the other hand will support development and testing of the offline interfaces, drawing on its background in technology consulting and digital transformation.

The digital euro project remains in its preparation phase. The ECB will spearhead the evaluation of technical solutions, legal frameworks and user experience considerations before any decision on issuance is made.

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

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The platinum price broke above US$1,600 per ounce on September 29 (Monday), its highest level since April 2013.

What’s moving the platinum price? A number of factors are at play in this notoriously volatile market.

As a precious metal, nearly a quarter of demand for platinum comes from the jewelry sector. When gold prices are high, as they are now at nearly US$3,900 an ounce, platinum jewelry becomes an attractive, lower cost alternative.

With more than 70 percent of demand for the metal coming from the industrial and automotive sectors, the platinum market is highly price sensitive to economic cycles. However, despite the current economic uncertainty that’s driving gold higher, platinum prices are being buoyed by stable demand in the auto sector, emerging demand in the hydrogen fuel cell industry, and persistent supply challenges out of major platinum producing nations like South Africa.

Platinum supply under pressure

Supply constraints are an ongoing trend in the platinum market and a major driver of prices for the metal in 2025.

In its Q2 2025 Platinum Quarterly, the World Platinum Investment Council (WPIC) predicts that global platinum mine supply will drop by 6 percent to 5.43 million ounces for this year.

Heavy rainfalls and flooding in top producer South Africa in the first quarter of the year had a major impact on an industry already reeling from high-cost electricity and dwindling reserves.

In late August, Paul Dunne, CEO of Northam Platinum (JSE:NPH) in South Africa told Reuters that higher platinum prices in 2025 will likely not do much to alleviate the pressures facing platinum group metals (PGM) production in the country.

“Recent price appreciation is offering some relief to the PGM sector,” he said in a statement. “However, it is still not yet at levels that will support sustainable mining across the industry and certainly not the much-needed development of new operations.”

Suffice it to say that problems in the supply side of the market will continue to support platinum prices over the longer-term.

Platinum demand seen as sustainable

As for platinum demand, Mykuliak sees a few key important drivers including auto catalysts for hybrid vehicles, increased hydrogen adoption for industrial uses and Chinese demand for platinum jewelry as an alternative to gold.

In the automotive industry, platinum is used in catalytic converters for vehicle exhaust systems for emissions control. The rise of electric vehicles (EVs), which do not require catalytic converters to control emissions, is expected to cut into platinum demand over time.

However, high costs and range anxiety are leading auto buyers to choose hybrids over battery EVs. Because hybrid engines still require catalytic converters, the auto sector continues to be a reliable source for platinum demand.

In the hydrogen sector, platinum has a role as a catalyst in the proton exchange membrane electrolyzers used for green hydrogen production and in hydrogen fuel cells. The WPIC has noted that the hydrogen market be ‘a meaningful component of global demand by 2030 and potentially the largest segment by 2040.’

As for jewelry demand, the WPIC is predicting an increase of 11 percent year-on-year to 2.23 million ounces in 2025. China is expected to represent more than one quarter of that growth as the fabrication of platinum jewelry in the region is expected to grow by 42 percent to 585,000 ounces.

Platinum price outlook

The platinum price has since pulled back from the US$1,600 level to US$1,558 per ounce in midday trading on Thursday (October 2). But a correction is expected in the short-term, explained Mykuliak, who believes the fundamental outlook for platinum is still a positive one.

“Looking ahead, I expect volatility. My base case is a US$1,650-US$1,750 range by the year-end, with possible dips toward US$1,450 if profit-taking intensifies,” she said. “On the upside, if South African power disruptions worsen or hydrogen policies accelerate, US$1,850-US$1,950 is realistic, with US$2,000 also within reach.”

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

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Recent Russian incursions into NATO airspace have sharpened divisions inside the alliance over how to respond, exposing both the strength and the limits of collective defense.

Secretary General Mark Rutte clashed with Estonian Prime Minister Kristen Michal last week after Estonia invoked NATO’s Article 4 clause, which triggers consultations when a member feels its security is threatened.

According to three European officials granted anonymity to speak freely, Rutte argued that repeated invocations risked diluting the treaty’s force. One source said he even raised his voice at Michal, warning that NATO must be cautious about how often it signals alarm.

Rutte argued that if Article 4 were invoked every time Russia violated sovereignty — through drone incursions, fighter jets, cyberattacks and more — it would quickly lose impact, according to the officials.  

A NATO spokesperson confirmed Rutte and Michal spoke Friday and said the secretary general ‘has supported Estonia throughout the process.’

Rasmus Ruuda, director of the Government Communication Office of Estonia, told Fox News Digital Rutte ‘expressed support for Estonia and the Prime Minister thanked NATO for its actions.’

‘Article 4 is just a signal that we’re taking note of what happened,’  said Giedrimas Jeglinskas, a Lithuanian member of parliament and former NATO assistant secretary general. ‘We can be invoking Article 4 every week, and I think that only weakens us, because we’re unable to truly respond to that aggression that Russia is sort of throwing at us.’

The tension comes after a series of provocative moves by Moscow. Last month, missile-carrying Russian MiG-29s flew into Estonian territory, following an earlier breach of Polish airspace by 19 drones and repeated incursions over Romania. In Poland, jets scrambled to intercept the drones, shooting some of them down. It marked the first time since World War II that Polish armed forces mobilized to engage an airborne threat over their homeland.

The Russian jets in Estonia were eventually escorted out of its territory by Italian F-35s. Estonia’s Article 4 request followed Poland’s own invocation days earlier, prompting another round of consultations in Brussels.

Since its creation in 1949, Article 4 has been triggered only nine times. NATO’s warning to Russia after the Estonian request was blunt: any further breaches would be met with ‘all means’ of defense. Estonia’s defense minister said his nation was prepared to shoot down Russian planes violating airspace ‘if there is a need.’ 

But Jeglinskas said signaling without consequence risks leaving the alliance trapped.

‘We’re happy to do Article 4 every other day, but so what? What’s next?’ he said. ‘The real question is what happens when the jets actually enter our airspace.’

The debate cuts to a deeper question: what constitutes a ‘need’ to shoot down Russian jets? How can Russia be deterred without stumbling into direct war?

‘The last thing we want is to have NATO get drawn into a war with Russia,’ a senior State Department official told Fox News Digital. ‘God knows how that ends.’

‘Almost all wars … they don’t necessarily start with a big bang,’ the official went on. ‘They start with an escalation, and then somebody feels they need to respond to this, and then you just get in a toxic spiral.’

The United States has promised to defend ‘every inch’ of NATO while pressing Europe to bear more of its own defense burden. Washington’s mixed signals have only complicated matters.

Trump administration officials long favored reducing the U.S. troop presence in Europe. But President Donald Trump recently delivered one of the starkest warnings to Moscow, declaring that NATO states should shoot Russian aircraft down if they incur on their territory.

Jeglinskas said the statement resonated across the Baltic States. ‘What was really helpful was that President Trump was very clear,’ he said. ‘That gives us confidence we’re on the right track, and we really appreciate the support.’

Still, allies remain divided on whether to escalate. Some warn that Eastern Europe cannot credibly threaten retaliation without an American security guarantee. Others argue that deterrence depends on showing Russia its incursions carry a cost.

‘If we really want to send a proper message of deterrence to Russia, we need to be prepared to use kinetic force,’ Jeglinskas said. ‘That means neutralizing those jets — shooting them down or finding other ways to impose consequences — so Russia actually feels the cost of its incursions. That hasn’t happened yet, and it leaves us vulnerable.’

The airspace disputes now extend beyond fighter jets. European Union members are meeting in Copenhagen this week to discuss shoring up air defenses after a wave of drone sightings. Denmark briefly shut down its airspace following mysterious drone activity, while Lithuania’s Vilnius airport and Norway’s Oslo airport also reported disruptions. Drones have even been spotted over Germany’s northern state of Schleswig-Holstein.

‘We are not at war, but we are no longer at peace either. We must do much more for our own security,’ German Chancellor Friedrich Merz said in Düsseldorf.

NATO jets scrambled to intercept drones over Poland, but the response underscored a growing mismatch: deploying multi-million dollar fighters to counter small, unmanned aircraft is neither efficient nor sustainable.

‘NATO remains the most crucial element of our security equation,’ Jeglinskas said. ‘It’s the backbone through which our security is viewed. There’s really no doubt about NATO’s political will and its capability to defend its territory, but warfare is changing — and the question now is, has NATO adapted to the new way of war that is seeping through the borders of Ukraine?’

Jeglinskas warned that neither NATO nor the Baltic States have done enough. ‘The Polish incursion signified that NATO is not fully ready to counter these threats,’ he said. ‘Scrambling jets is a tremendous economic mismatch. If these kinds of attacks become swarms, it’s not sustainable.’

To address mounting threats, NATO last month launched Operation Eastern Sentry, reinforcing its presence on Europe’s eastern flank. Jeglinskas welcomed the move but said gaps remain.

‘Jets are very important, but more jets don’t mean we’re more secure from low-altitude drones,’ he said. ‘The question is: do we have sensors that can detect what’s happening from the ground up to a kilometer into our airspace? We don’t see that. It’s like a dead space.’

Jeglinskas called for stronger short- and medium-range radar, as well as layered defenses akin to Israel’s Iron Dome, capable of intercepting drones with both kinetic and electronic means.

‘NATO’s response is commendable,’ he said, ‘but it’s not enough. You need technical know-how, the right capabilities, and systems that are truly integrated if you want to make this work.’

For now, NATO remains caught between signaling resolve and acting on it. As Russia continues to test the alliance’s borders, Jeglinskas and other Eastern European officials warn that credibility is at stake. The next incursion, they argue, may demand more than words.

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Rejecting reports of a split with the brass, the Department of War says the National Defense Strategy was ‘seamlessly coordinated’ with senior civilian and uniform leaders — and that ‘any narrative to the contrary is false.’

On Monday, The Washington Post reported that multiple senior officers had raised concerns about the forthcoming strategy, pointing to a divide between political leadership.

Deputy Secretary of War Steve Feinberg pushed back on Wednesday, in an on-the-record statement to Fox News Digital.

‘The Department’s National Defense Strategy has been seamlessly coordinated with all senior civilian and military leadership with total collaboration — any narrative to the contrary is false,’ Feinberg said.

A senior War Department official said the strategy was the product of ‘extensive and intensive’ collaboration across the department.

The drafting team included a policy lead, a Joint Staff deputy and representatives from the military services who consulted widely with civilian and uniformed offices.

Under Secretary of War for Policy Elbridge Colby and the acting deputy under-secretary for policy, Austin Dahmer, met with leaders from every group. The official called that level of policy-shop engagement ‘unprecedented.’

Air Force Gen. Dan Caine, who chairs the Joint Chiefs of Staff, provided feedback directly to Secretary of War Pete Hegseth and Colby, the official said, and both assured him his input would be reflected in the final draft.

The Post report said political appointees in the Pentagon policy office led the drafting and described unusually sharp pushback from some commanders over priorities and tone. 

The War Department disputes that characterization and says the document was coordinated at the principal level and aligned closely with the National Security Strategy.

The pushback comes a day after Hegseth addressed hundreds of commanders at Marine Corps Base Quantico.

In a 45-minute speech, he argued the force needs tougher standards and a tighter focus on warfighting. He has recalled one-star and above officers from around the world to brief in person and has removed several senior general officers as part of a broader overhaul.

Hegseth says new directives will restore rigorous physical, grooming and leadership standards and require combat roles to meet one set of physical benchmarks.

The Washington Post did not immediately respond to Fox News Digital’s request for comment. 

Fox News Digital’s Jasmine Baehr and Morgan Phillips contributed to this report.

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Senate Democrats appear ready for the long haul as the government shutdown continues and are putting the onus of reopening the government on Republicans.

The Senate was out Thursday to observe the Jewish holiday Yom Kippur and is expected to return to action Friday to again vote on the dueling proposals to reopen the government. Though three Democratic caucus members have voted for the GOP’s plan, an end to the shutdown still seems a ways out.

Senate Democrats, led by Senate Minority Leader Chuck Schumer, D-N.Y., have largely unified around the push for expiring Obamacare tax credits that they say must be dealt with now rather than at the end of the year when they are set to end.

Republicans argue that any negotiations for the expiring subsidies can happen once the government reopens.

‘Democrats know we need to reopen the government, and they know that they’re appropriately getting blamed for shutting it down, and we’re going to continue to bring up the continuing resolution,’ Senate Majority Whip John Barrasso, R-Wyo., said. ‘There’s things they want to negotiate, and we can do that once the government is open.’

The White House, particularly Office of Management and Budget (OMB) Director Russ Vought, and President Donald Trump have ramped up pressure on Senate Democrats, too, with targeted spending cuts to blue states and threats of mass firings of federal workers.

But Vought’s targeted cuts likely do not help Democrats move closer to supporting the GOP’s continuing resolution (CR).

‘Russ Vought is a menace whether the government is open or closed. He wakes up figuring, ‘What damage can I do today?’ That’s what he does,’ Sen. Peter Welch, D-Vt., said. ‘So, the status of government [being] open or closed, it’s not relevant to Russell Vought. He just goes on his rampage every day.’

Senate Democratic leadership also appears unwilling to cave this early into a shutdown as Republicans plan to continue bringing their short-term extension to the floor. Senate Minority Whip Dick Durbin, D-Ill., said that he planned to continue to vote down the GOP’s plan.

‘How long can Republicans explain to the American people that they want to do nothing to help pay for health insurance?,’ he asked.

When asked if he was concerned by Vought targeting projects in blue states, Durbin said, ‘Sadly, it’s a consistent pattern.’

Sen. Chris Murphy, D-Conn., charged that Trump didn’t have ‘superpowers during a shutdown’ to fire federal workers and slash additional funding.

‘The news today is that the president is deciding to act illegally and shut down funding for Democratic states and keep money flowing for Republican states,’ Murphy said. ‘This is not a functioning democracy if the president seizes spending power in order to reward his friends and punish his enemies.’

Murphy said Democrats would not ‘get run over’ during the shutdown, and that the government would reopen when the GOP gets ‘serious about talking to Democrats.’

Early negotiations on a path forward materialized on the Senate floor on Wednesday, but no real deal came from those talks. Instead, Republicans and Democrats in the impromptu meeting said that they left with a better understanding of either side’s desires.

Sen. Gary Peters, D-Mich., previously voted with Schumer in March to keep the government open. The retiring senator was also one of the nearly dozen lawmakers in a bipartisan huddle on the Senate floor that sparked early negotiations on the expiring credits.

Peters said that it was ‘premature’ to say there was a deal or plan locked in after those talks, but he warned that deeper issues were still at play for congressional Democrats when it came to dealing with the GOP and White House.

‘There are all sorts of trust issues, both in the Senate and the House, so we have to work through all of that,’ he said.

And Sen. Catherine Cortez Masto, D-Nev., was one of just three Democratic caucus members who have now voted twice with Republicans on their CR. While she supported reopening the government, she still blamed Republicans for ignoring the Obamacare tax credits.

‘[Republicans] created this crisis … and they need to address it,’ she said. ‘They have no moral standing, no moral standing to stand back and say that this is all on the Democrats. They are in control, they created this crisis. People are suffering.’

When asked if she trusted Republicans in negotiations, Cortez Masto countered, ‘You tell me.’

‘They’re already entrenched in their positions, unfortunately, and not thinking about the American public,’ she said. 

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The federal government may have to lay off ‘thousands’ of employees if the government shutdown continues, White House press secretary Karoline Leavitt warned Thursday.

Leavitt made the comments during a gaggle with reporters outside the White House, saying administration officials are already gaming out the layoffs.

‘Look, it’s likely going to be in the thousands. It’s a very good question. And that’s something that the Office of Management and Budget and the entire team at the White House here, again, is unfortunately having to work on today,’ Leavitt said.

‘These discussions and these conversations, these meetings would not be happening if the Democrats had voted to keep the government open,’ she added.

Leavitt went on to accuse Democrats of playing politics with the shutdown, arguing there is ‘zero good reason’ for Democrats to obstruct the process.

‘They are doing it for political reasons. They are doing it because they want to give taxpayer-funded health care benefits to illegal aliens, which is something that American people resoundingly rejected ahead of the election last year,’ she said.

President Donald Trump announced earlier Thursday that he is set to meet with Office of Management and Budget (OMB) Director Russell Vought later Thursday to discuss which agencies ‘are a political SCAM.’

Vought is tasked with recommending which agencies should face cuts and whether those cuts should be temporary or permanent.

‘I can’t believe the Radical Left Democrats gave me this unprecedented opportunity,’ Trump wrote on social media. ‘They are not stupid people, so maybe this is their way of wanting to, quietly and quickly, MAKE AMERICA GREAT AGAIN!’

The federal government entered a partial shutdown Wednesday after the midnight funding deadline passed, with Democrats and Republicans failing to agree on a funding bill.

Vice President JD Vance on Wednesday accused Democrats of forcing the shutdown over providing illegal immigrants with taxpayer-funded emergency healthcare and Senate Minority Leader Chuck Schumer, D-N.Y., fearing a primary challenge from progressive ‘Squad’ member Rep. Alexandria Ocasio-Cortez, D-N.Y.

Fox News’ Stephen Sorace contributed to this report

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House Speaker Mike Johnson, R-La., made clear on Thursday that House Republicans will not budge amid the ongoing standoff over government funding, as Democrats continue to insist on healthcare concessions.

‘Don’t ask the Republicans what we should be doing or what we should be negotiating. I don’t have anything to negotiate. I sent them, in good faith, exactly what they voted for before,’ Johnson told reporters during a press conference.

‘We did not put any Republican provisions in that, and we tried to make this very simple, in good faith, so the appropriations process of the people can continue.’

The government shutdown has entered into a second day as Democrats and Republicans remain at odds over how to proceed with federal funding past the end of fiscal year (FY) 2025, which concluded Sept. 30.

The House passed a measure to keep the current federal spending levels roughly flat through Nov. 21 to give Congress more time to reach a longer-term deal for FY 2026. That bill, called a continuing resolution (CR), advanced mostly along party lines.

But in the Senate, where at least several Democrats are needed to reach the 60-vote threshold to overcome a filibuster, progress has stalled. 

Democrats there have rejected the GOP plan three times, most recently on Wednesday afternoon.

House and Senate Democrats have insisted they will not vote for any funding deal that does not also extend enhanced subsidies in Obamacare, formally called the Affordable Care Act, which were hiked during the COVID-19 pandemic.

Those enhanced subsidies are set to expire at the end of this year without congressional action.

‘People say, ‘Why aren’t you negotiating with [Senate Minority Leader Chuck Schumer, D-N.Y., and House Minority Leader Hakeem Jeffries, D-N.Y.]?’ Because I quite literally have nothing to negotiate. There’s nothing I can pull out of the bill that was a Republican priority to say, ‘Oh, we won’t do that. Why don’t you guys vote for it now?’ I don’t have anything,’ Johnson said.

‘I didn’t put anything in it to send it over. I’m stunned. I’m stunned that they have decided to shut the government down and hurt people. It is on them 100%.’

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Investor Insight

International Graphite’s is building a global mine-to-market graphite supply chain with a network of downstream processing operations in allied markets, underpinned by a world class resource in Australia. This will deliver a secure, reliable supply of high-value graphite products for growing industrial and battery markets across the US, Europe and Asia.

Overview

International Graphite (ASX:IG6 and FRA:H99) offers low risk, near-term entry to the growing graphite market. Shifting from developer to producer, International Graphite’s first commercial processing facility is now under construction in Collie, Western Australia. The company’s ISO-certified R&D and qualification operations have already shipped product samples and recorded initial sales, helping to seed customer relationships ahead of ramp-up. The strategy is deliberately modular: start with value-added industrial products that can generate early cash flow, then scale capacity and product mix to high value battery materials, as demand and capability build. To date, the company’s Western Australian projects have received AU$17.2 million in grants from Australian state and federal governments.

In parallel, a 50/50 joint venture is advancing in Germany to establish an expandable graphite plant, placing International Graphite inside the EU’s industrial heartland and adding a second revenue stream in applications such as flame-retardant plastics and thermal management.

Together with Collie, the two processing facilities have the potential to add approximately 10,000 tonnes per annum (tpa) of graphite products from 2027. Europe is currently one of the world’s biggest consumers of expanded graphite, almost all of which is imported.

Longer term, growth is anchored by the 100-percent-owned Springdale graphite project in Western Australia, providing security of supply for the vertically integrated process network and supporting plans to move further downstream into battery anode materials. The development pathway is supported by government backing and strategic partners, with additional funding avenues being progressed. All of this is pursued in tier-one jurisdictions with a focus on quality, certification and responsible development – attributes increasingly demanded by global customers.

Company Highlights

  • Near-term revenue: Construction is underway at Collie, WA for Australia’s first commercial graphite micronising plant – designed to generate early cash flow with a straightforward path to expand capacity.
  • European expansion: A 50/50 joint venture is progressing to build an expandable graphite facility in Germany, putting International Graphite inside the EU market for flame-retardant and thermal products and broadening revenue beyond batteries.
  • De-risked funding: Collie has strong grant funding support from Australian national and state governments. The European project has a financing partner with a mandate to arrange significant non-dilutive funding.
  • Customer traction: ISO-certified operations in Collie are supplying qualification products to potential domestic and international customers and have recorded initial sales ahead of commercial scale-up.
  • Resource-backed growth: The Springdale graphite resource and future mine (mining leases granted) underpins long-term feed supply for downstream operations with proven quality and metallurgical characteristics that are optimal for battery anode materials.
  • Scale ambition: The two process facilities at Collie and in Germany have potential to deliver >10,000 tpa of high-value graphite products with production targeted to start in 2027.

Key Projects

Springdale Graphite Project

Springdale is a large, fine-flake resource in Western Australia that underpins International Graphite’s mine-to-market plan. The current mineral resource is 49.3 Mt @ 6.5 percent total graphitic carbon. With only a small portion of the tenements drilled to date, there is significant room for resource growth. The January 2024 scoping study outlines a long-life, open pit mine producing ~46,000 tpa of concentrate for AU$76 million capex. Bench-scale testwork on Springdale concentrates has achieved battery-grade purities (>99.95 percent to 99.99 percent), with spheroidising yields up to 76 percent and near-theoretical electrochemistry (372 mAh/g). Springdale also benefits from a non-binding MoU with Marubeni, a supportive local community and established resource industry infrastructure. Two mining leases have been granted that cover most of the tenement area.

Collie R&D and Processing Facility (Western Australia)

International Graphite is developing Australia’s first commercial graphite micronising plant at Collie, in Western Australia. The March 2025 front-end engineering design study estimates Stage 1 at ~4,000 tpa for AU$6.3 million, with an additional AU$1.7 million to lift capacity to ~7,500 tpa. Detailed design is underway and a supply contract and purchase orders have been issued for the micronising process equipment. Collie’s ISO-certified R&D/qualification facility remains active having processed 1,216 kg of concentrates into micronised and spheroidised products with initial sales achieved. Company presentation metrics indicate revenue potential of ~AU$14.1 million to ~A$28 million per year at Stage 1/Stage 2, with indicative IRRs of 43 percent to 72 percent (subject to funding and final approvals).

European Expandable Graphite Facility (Germany)

International Graphite has signed a co-operation agreement with Arctic Graphite AS to form a 50/50 joint venture to develop an expandable graphite facility in Europe, with Germany as the preferred site. The facility targets ~3,000 tpa of product for a €5.0 million capital cost. Graphite Investment Partners (GIP) will arrange ≥50 percent non-dilutive funding and has issued a non-binding LOI to arrange up to AU$10 million for the German facility and Collie (subject to due diligence and terms). The assessment scope targets efficient, scalable development using third-party feedstock, with technical partners ProGraphite and Hensen supporting engineering and product development. Arctic’s shareholder LNS brings long-standing European graphite operating experience.

Successful delivery of the German plant alongside Collie would position International Graphite to produce ~10,000 tpa of high-value graphite products from 2027.

Management Team

Phil Hearse – Chairman

One of Australia’s leading metallurgists and an authority on graphite project development, Phil Hearse founded International Graphite in 2018 and continues to lead the company’s growth and development. An engineer with more than 40 years of experience in diverse and challenging projects around the world, his extensive career has taken him from operational and technical roles at Broken Hill, Bougainville Copper, Queensland Nickel (QNI) and Gove Alumina to senior executive and managerial positions in engineering and operating companies.

Hearse is the owner and managing director of Battery Limits, one of Australia’s leading graphite metallurgy and process engineering firms. The company has assisted many listed public companies to develop bankable feasibility studies for graphite mines and concentrators and has generated significant intellectual property in downstream processing and knowledge of the end use market. Hearse has an MBA from Hull University UK and a Bachelor of Applied Science in primary metallurgy from the University of SA. He is a fellow of the Australasian Institute of Mining and Metallurgy and a fellow of the Australasian Institute of Mining and Metallurgy.

Andrew Worland – Managing Director and Chief Executive Officer

Andrew Worland is a mining executive and experienced ASX/TSX director with over 25 years in senior finance, corporate, project management and marketing roles in the Western Australian mining sector.

Worland’s commodity experience includes exploration, development and operations in lead, zinc, nickel, cobalt, gold, iron ore, molybdenum, copper and uranium. He has a Bachelor of Commerce with a major in finance and marketing from the University of Western Australia and is a qualified chartered company secretary and has achieved Fellow of the Governance Institute of Australia.

David Pass – Non-executive Director and Technical Director

David Pass has played a key role in the technical development of International Graphite since the company’s inception. A metallurgist with 30 years in the mining industry, he brings a mix of operational processing, process design, project, due diligence skills and management experience including mine operations experience with Barrick Gold.

Pass is chief executive officer of Battery Limits and an acknowledged expert in graphite primary and downstream processing and has led several studies in graphite project development to definitive feasibility level. He holds a Bachelor of Science in metallurgy from Murdoch University and is a member of the Australian Institute of Mining and Metallurgy.

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Investor Insight

Mount Hope Mining’s strategic location in the prolific and resource-rich Cobar Basin, which has seen a surge of exploration and M&A activity in recent years, positions the company as a compelling investment proposition. With its maiden drilling program now underway, Mount Hope is transitioning from target generation to resource definition, supported by a strong pipeline of prospects and a clear development pathway.

Overview

Mount Hope Mining (ASX:MHM) is an Australian resource company specializing in copper and gold exploration. With its flagship project located in the Cobar Basin of New South Wales, Australia, the company leverages the region’s rich mining history and underexplored potential.

Through the acquisition of Fisher Resources, a subsidiary of Unico Silver, Mount Hope secured full ownership of the Mount Hope project, which now extends across 422 sq km. This large-scale landholding provides exposure to two major mineralised fault corridors — the Sugar Loaf Fault and the Scotts Craig Fault — both controlling structures for significant copper and gold mineralisation.

The Cobar Basin has seen a flurry of significant mining activities in recent years, underscoring the region’s robust potential for polymetallic resource development. One of the most recent examples of increasing M&A activity in this region is Harmony Gold’s US$1.03 billion acquisition of MAC Copper and the producing CSA copper mine in May 2025. In August 2024, Polymetals Resources (ASX:POL) finalized the acquisition of the Endeavor Mine, located 40 kilometers north of Cobar, which boasts JORC-compliant resources of 16.3 million tonnes grading 8 percent zinc, 4.5 percent lead, and 84 grams per ton (g/t) silver. In 2023, Metals Acquisition (NYSE:MTAL) successfully acquired the CSA copper mine from Glencore, further signalling the growing investment attractiveness of the Cobar Basin as a major hub for copper production.

These activities highlight a dynamic and competitive landscape that Mount Hope Mining can leverage for its own exploration strategy.

In 2025, Mount Hope launched its inaugural drilling campaign, targeting Mt Solitary for resource definition, and testing new greenfield prospect, including Blue Heeler and Black Hill. This marks a significant milestone as the company works toward defining its maiden JORC mineral resource estimate.

Company Highlights

  • Copper and gold exploration company based in Australia
  • 100 percent ownership of the Mount Hope project in the southern Cobar Basin, now covering 422 sq km across five exploration tenements
  • Regionally significant landholding with proximity to operating mines and processing facilities
  • Maiden drilling program commenced in August 2025, testing four high-priority prospects: Mt Solitary, Blue Heeler, Black Hill and Mt Hope East
  • Mt Solitary prospect hosts an Exploration Target of 1.32–1.87 Mt at 1 to 1.35 grams per ton gold (g/t) for 42.5 to 81.4 koz
  • Pipeline of over 40 earlier-stage exploration targets identified through geophysics and geochemistry
  • Experienced board and management team with proven track records in exploration, corporate governance and resource development

Key Project

Mount Hope

The Mount Hope project is the company’s flagship exploration asset, strategically located in the southern Cobar Basin. It comprises five granted exploration tenements (EL6837, EL8058, EL8290, EL8654, EL6902) spanning 422 sq km.

The project area is historically significant, hosting copper and gold mining since the 1870s. Historical production at the Mount Hope mine includes ~7,891 tonnes of copper metal at 10.5 percent copper between 1878 and 1919, with a further 4,000 tonnes mined in 1942. Despite this long history, the region remains underexplored with significant potential for “Cobar-style” polymetallic discoveries.

Prospects and Exploration Focus

  • Mt Solitary – Hosts an exploration target of 1.32 to 1.87 Mt @ 1 to 1.35 g/t gold for 42.5 to 81.4 koz. Resource definition drilling commenced in August 2025, supported by metallurgical test work.
  • Blue Heeler – Defined by strong EM conductors (600 m strike) and historical drill intercepts including 31 m @ 0.42 percent zinc, 0.26 percent lead, 117 parts per million (ppm) copper and 4.8 ppm silver from 56 m. Added to the maiden drill program in Q3 2025.
  • Black Hill – A lead-zinc-gold anomaly identified by Esso in 1975, now refined by modern geophysics. Planned 1,200 m RC program in Phase 1 drilling.
  • Mt Hope East – Adjacent to the historic Mt Hope copper mine (75,000 tonnes mined @ 10.5 percent copper) AC drilling designed to test geochemical and geophysical anomalies.

In addition to these advanced targets, Mount Hope has identified more than 40 early-stage prospects, consolidating a district-scale exploration pipeline across two major fault systems..

Strategic Location

The Mount Hope project benefits from its strategic location within the Cobar Basin, an established mining district with access to infrastructure and services. The recent resurgence of mining activity in and around the Cobar Basin, as demonstrated by Polymetals Resources’ acquisition of the Endeavor mine, and Metals Acquisition’s purchase of the CSA copper mine, underscores the region’s significance as a hub for resource development.

Mount Hope Mining aims to build on this momentum, leveraging both historical data and cutting-edge exploration methodologies to maximize the project’s potential. With its focus on copper and gold, commodities essential to green technologies and global markets, the Mount Hope project is well-positioned to contribute to the growth of Mount Hope Mining and the broader Australian resource sector.

Management Team

Fergus Kiley – Managing Director and CEO

Fergus Kiley plays a pivotal role in driving Mount Hope Mining’s exploration and growth strategies. He previously served as Senior Geologist and Technical Business Development Lead at Wyloo, one of Australia’s largest private natural resources investment groups. This role honed his expertise in exploration, geological modeling and project evaluation. Kiley also serves on the board of Grand Gulf Energy (ASX:GGE) and has over a decade of experience managing exploration programs for various ASX-listed companies. His leadership at Mount Hope focuses on leveraging modern exploration techniques and building partnerships to unlock the potential of the Mount Hope project.

Ben Phillips – Non-executive Chairman

Ben Phillips provides strategic oversight and governance to Mount Hope Mining. Appointed on July 5, 2024, he plays a vital role in ensuring the board operates effectively and aligns with the company’s objectives. Phillips’ leadership in other ventures and his focus on strong corporate governance bring additional credibility to Mount Hope’s public presence. His insights into the mining sector and his strategic vision position the company for sustainable growth.

Todd William – Non-executive Director

Todd Williams brings significant expertise in mining exploration and operations, particularly within the Cobar Basin. He is currently the managing director of Unico Silver (ASX:USL) and a Non-executive director of Orpheus Uranium (ASX:ORP). As the former owner of the Mount Hope project through Unico, William’s historical knowledge of the tenements is an invaluable asset. His extensive work in the region strengthens Mount Hope’s technical and operational strategies.

Paul Kiley – CFO and Company Secretary

Paul Kiley brings more than 30 years of leadership experience in the mining and oil & gas sectors. He has held key executive roles, including CFO and company secretary at Hillgrove Resources Limited (ASX:HGO) and director of corporate development for Newmont Corporation (NYSE:NEM) in the Asia-Pacific region. Kiley also served as group risk manager at Newmont and held senior positions with Occidental Oil & Gas (NYSE:OXY) in both Australia and the United States, contributing extensive expertise in corporate strategy, risk management and financial oversight.

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