This Isn't Their First Gold Win-And Their Next Big Project Could Be Even Bigger

The team behind this Nevada gold miner has built billion-dollar gold companies before-and they're at it again. Drilling is already underway on a 27-square-mile land package, with nearly 2M ounces already defined...with more to come. With production live and expansion in motion, this sets up to be their next big win.

Nippon, US Steel file suit after Biden administration blocks $15 billion deal

FATIMA HUSSEIN
January 06, 2025

WASHINGTON (AP) -- Nippon Steel and U.S. Steel filed a federal lawsuit challenging the Biden administration's decision to block a proposed nearly $15 billion deal for Nippon to acquire Pittsburgh-based U.S. Steel..

The suit, filed Monday in the U.S. Court of Appeals for the District of Columbia, alleges that it was a political decision and violated the companies' due process.

"From the outset of the process, both Nippon Steel and U. S. Steel have engaged in good faith with all parties to underscore how the Transaction will enhance, not threaten, United States national security, including by revitalizing communities that rely on American steel, bolstering the American steel supply chain, and strengthening America's domestic steel industry against the threat from China," the companies said in a prepared statement Monday. "Nippon Steel is the only partner both willing and able to make the necessary investments."

Nippon Steel had promised to invest $2.7 billion in U.S. Steel's aging blast furnace operations in Gary, Indiana, and Pennsylvania's Mon Valley. It also vowed not to reduce production capacity in the United States over the next decade without first getting U.S. government approval.

Biden on Friday decided to stop the Nippon takeover -- after federal regulators deadlocked on whether to approve it -- because "a strong domestically owned and operated steel industry represents an essential national security priority. ... Without domestic steel production and domestic steel workers, our nation is less strong and less secure," he said in a statement.

While administration officials have said the decision was unrelated to Japan's relationship with the U.S. -- this is the first time a U.S. president has blocked a merger between a U.S. and Japanese firm.

Biden departs the White House in just a few weeks.

The president's decision to block the deal comes after the Committee on Foreign Investment in the United States, known as CFIUS, failed to reach consensus on the possible national security risks of the deal last month, and sent a long-awaited report on the merger to Biden. He had 15 days to reach a final decision.

In a separate lawsuit filed in the U.S. District Court for the Western District of Pennsylvania on the same day, the companies accused steel-making rival Cleveland-Cliffs Inc. and its CEO, Lourenco Goncalves, in coordination with David McCall, the head of the U.S. Steelworkers union, of "engaging in a coordinated series of anticompetitive and racketeering activities" to block the deal.

In 2023 before U.S. Steel accepted the buyout offer from Nippon, Cleveland-Cliffs offered to buy U.S. Steel for $7 billion. U.S. Steel turned down the offer and later accepted a nearly $15 billion all-cash offer from Nippon Steel, which is the deal that Biden nixed Friday.

Continue Reading...

Popular

Jim Cramer Recommends Buying This Industrial Stock, Calling It 'Way Too Cheap'

"Mad Money" star Jim Cramer discusses MP Materials, Resideo Technologies and Canadian National Railway on Friday, Sept. 12.

More than 60 containers fall off ship in Long Beach port

LOS ANGELES (AP) — More than 60 containers toppled off a cargo ship Tuesday morning in the Port of Long Beach, tumbling overboard and floating in the water.

Discover 3 Stocks Projected to Dethrone Nvidia (NVDA) - Ad

Futurist and Stock Analyst, Eric Fry, published a brand-new research report naming three outsider stocks have the power to completely disrupt the "seemingly invincible" Mag 7. For the time being, this research report is available through this page - at no charge.

US firm agrees $500 million investment deal with Pakistan for critical minerals

ISLAMABAD (AP) — A U.S. metals company signed a $500 million investment deal with Pakistan on Monday.

Takeaways from a hunt for 'secret' fresh water under the North Atlantic seabed

ABOARD LIFTBOAT ROBERT, North Atlantic (AP) — It turns out the Continental Shelf has been holding a secret from the ages. Beneath the sea floor off the U.S. northeast lies an enormous reserve of fresh water whose existence was long unknown, then was suspected and now is confirmed.

From Ore to Gold Bars-This Nevada Mine Is Already Producing - Ad

Most juniors explore...Few actually produce. This one's already pouring gold thanks to infrastructure that would cost tens of millions to build today. With major land holdings and room to scale, it's one to watch. Discover the little known gold company that's already producing.

Koch family agrees to buy a 10% stake in the NFL's New York Giants, AP source says

The Koch family has agreed to purchase a 10% stake of the NFL's New York Giants, according to a person familiar with the deal.

Powerball Jackpot Soars To $1.1 Billion After No Winning Tickets, 5th Largest In History

The Powerball jackpot has reached $1.1 billion after no winner in Saturday's drawing, with nine tickets earning $1 million.

Is This Elon's Worst Nightmare? - Ad

Elon's empire looks doomed - crashing sales, lost tax credits, and media backlash. But behind the scenes, Tesla is about to unleash a breakthrough Forbes calls a "multi-trillion-dollar opportunity." It's not the end - it's the start of a 25,000% AI comeback.

China launches probes targeting US semiconductors ahead of Madrid trade talks

TAIPEI, Taiwan (AP) — China launched two probes targeting the U.S. semiconductor sector Saturday ahead of this week on trade, national security and the ownership of social media platform TikTok.

Gold's Best Year Since 1978—What's Driving The Relentless Rally?

Gold has surged 37% in 2025, topping $3,500 an ounce. Discover what's driving the rally, from Fed politics to central bank buying.

Ten Bucks, Five Minutes... Could Send You up to $8K Quarterly - Ad

Trump just exposed a secret payout stream once reserved for DC elites. Now billions are being redirected to taxpayers. With as little as $10 and five minutes, you could tap into payments as high as $8,276 every 3 months - if you act before the window closes.

Trump to host top tech CEOs — except Musk — at White House dinner Thursday

WASHINGTON (AP) — will host a high-powered list of tech CEOs for a dinner at the White House on Thursday night.

The Fed Just Got Kneecapped - Here's What Happens Next - Ad

A new law, S.1582, has just kneecapped the Federal Reserve - handing select companies the legal authority to mint a new form of American money. Investors who move now could see 40X gains by 2032... while the rest are left scrambling, wondering how they missed it.

Redwire Expands With New Space Defense Facility In Albuquerque

Redwire Corp (RDW) shares rose after announcing the opening of a 15,000 sq ft facility in Albuquerque to accelerate development of space-based defense systems.

Homes Have Shrunk To The Smallest Average Size In 20 Years: Here's Why It Happened

Newly built homes in the U.S. are shrinking due to higher mortgage rates and affordability concerns. Buyers are adjusting expectations.

[Revealed] Trump's Next AI Executive Orders? - Ad

A White House insider with direct ties to Trump's inner circle just revealed what he calls "Manhattan II" - a potential $2.2 trillion AI initiative set to launch as soon as Oct 15. He says this could mirror past U.S. projects that minted fortunes - with small firms soaring 5,000% to 10,000% over two decades. And now he's giving away his #1 stock pick for free before the deadline.

AI Apocalypse? Why language surrounding tech is sounding increasingly religious

TORONTO (AP) — At 77 years old, has a new calling in life. Like a modern-day prophet, the Nobel Prize winner is raising alarms about the dangers of uncontrolled and unregulated

Mortgage Fraud Is Now A Trump-Era Flashpoint—Here's Everything You Need To Know

Given the recent high-profile cases, Benzinga decided to take a closer look at what mortgage fraud is and how it can be committed.

If You Keep Cash In a U.S. Bank Account... Read This Now - Ad

The Treasury Department just issued a stunning warning: U.S. banks could lose up to $6.6 trillion of customer deposits as Americans rush into a new form of money... That's just been authorized under President Trump's highly controversial new law, S.1582. If you have any cash in a checking or savings account... this will affect you directly.

Murdoch Family Succession Battle Settled: Fox News Will Stay Conservative

The Murdoch family's succession battle has ended, with Lachlan Murdoch cemented as the new leader of Rupert Murdoch's vast media empire.

This Gold Miner Has the Map, the Metal, and the Momentum - Ad

JPMorgan is forecasting that gold will push past $4,000, and this Nevada operation is positioned to benefit. Historical estimates show its property could hold around 1.8 million ounces of measured and indicated gold, backed by infrastructure and billionaire investors. The company's already producing, refining gold onsite and looking to expand. That's not a dream-stage story-that's a head start.

Trump's Nvidia Export Deal Collides With AI GAIN Act — Chipmaker Warns New Bill Could Cripple Global Competition

Nvidia warned that a new U.S. bill could hurt its global edge by restricting AI chip exports, while growing pressure pushes tech firms like OpenAI to seek alternatives.

Charlie Kirk Killed In Utah Shooting, Drawing Bipartisan Condemnation

House Speaker Johnson condemned the act: "This is not who we are." As of Sept. 9, there have been 298 mass shootings in the U.S. for 2025.

Analysts Project This Stock Could Jump to $14 a Share. You Can Still Invest for $3.50. - Ad

The AI company making heart disease easier to detect is offering investors $3.50 investment units that include one convertible preferred share and one warrant, providing investors with access to 2 common shares. Based on analyst 1- year projections, that amounts to a near-term 500% return potential.

Edmunds SUV comparison: New Honda Passport vs Toyota 4Runner

Toyota has released a redesigned 4Runner for 2025. This is a big deal for fans of this SUV, as the previous generation was on sale for a lengthy 14 years. The new has distinctive new styling, the latest technology features, and an available hybrid powertrain that promises increased performance without sacrificing mpg. And just like previous models, it has a rugged design that’s well suited for off-road adventures.

NTSB describes the turbulence that threw passengers around the cabin on a Delta flight

Passengers who weren't buckled aboard a Delta Air Lines flight to Europe would have been violently thrown into the ceiling and back down to the floor in July in a thunderstorm over Wyoming, according to a new report on the incident.

This Isn't Their First Gold Win-And Their Next Big Project Could Be Even Bigger - Ad

The team behind this Nevada gold miner has built billion-dollar gold companies before-and they're at it again. Drilling is already underway on a 27-square-mile land package, with nearly 2M ounces already defined...with more to come. With production live and expansion in motion, this sets up to be their next big win.

Elon Musk's SpaceX Acquires EchoStar Spectrum To Transform Global Satellite Connectivity

EchoStar is selling AWS-4 and H-block spectrum to SpaceX for $17 billion, funding debt payments and expanding 5G services with Starlink Direct to Cell.

Labor Dispute Eases As UAW, GE Aerospace Agree On Tentative Pact

UAW members at GE Aerospace plants in Ohio and Kentucky reached a tentative deal, with a ratification vote set for Sept. 19.

Discover 3 Stocks Projected to Dethrone Nvidia (NVDA) - Ad

Futurist and Stock Analyst, Eric Fry, published a brand-new research report naming three outsider stocks have the power to completely disrupt the "seemingly invincible" Mag 7. For the time being, this research report is available through this page - at no charge.

Trump Could 'Zimbabwify' America, Says Economist Paul Krugman: Warns Against 'Fiscal Dominance' of Monetary Policy

Economist Paul Krugman is raising the alarm against President Donald Trump's attempts to destroy the Federal Reserve's independence, in a push for personal control over monetary policy.

From Ore to Gold Bars-This Nevada Mine Is Already Producing - Ad

Most juniors explore...Few actually produce. This one's already pouring gold thanks to infrastructure that would cost tens of millions to build today. With major land holdings and room to scale, it's one to watch. Discover the little known gold company that's already producing.

Tesla Faces Class Action Over 'Wage Theft' Amid Preference For H-1B Workers Following Elon Musk's Push To Optimize Visa Practice

Tesla is facing a federal class action lawsuit accusing it of favoring H-1B visa holders over U.S. workers to cut labor costs, even as the company battles financial headwinds and regulatory scrutiny.

Internet entrepreneur Kim Dotcom's latest legal bid to halt deportation from New Zealand is rejected

WELLINGTON, New Zealand (AP) — A court has rejected the latest bid by internet entrepreneur Kim Dotcom to halt his deportation to the United States on charges related to his file-sharing website Megaupload.

Is This Elon's Worst Nightmare? - Ad

Elon's empire looks doomed - crashing sales, lost tax credits, and media backlash. But behind the scenes, Tesla is about to unleash a breakthrough Forbes calls a "multi-trillion-dollar opportunity." It's not the end - it's the start of a 25,000% AI comeback.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright systemtrading.ca
Privacy Policy | Terms of Service