Cardiex Limited (CDX:AU) has announced Cardiex Receives TGA Approval for CONNEQT Pulse Device
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Ioneer Ltd (ASX: INR, Nasdaq: IONR) (Ioneer) is pleased to announce a 308% upgrade to the Ore Reserve estimate for its 100%-owned Rhyolite Ridge Lithium-Boron Project (‘Rhyolite Ridge’ or the ‘Project’) in Nevada, USA, alongside updated Project economics.
- Rhyolite Ridge Ore Reserve more than quadrupled from 60 million tonnes in 2020 to 247 million tonnes, delivering a mine life of 95 years
- Ore Reserve now contains a total of 1.92 Mt of lithium carbonate equivalent and 7.68 Mt of boric acid equivalent
- Underpinning plans for a large, long-life, low-cost expandable operation, producing lithium carbonate, boric acid and then battery-grade lithium hydroxide
- Stable co-product – boric acid accounts for an average 25% of annual revenue in the first 25 years; helping ensure positive EBITDA at low lithium prices and EBITDA margin of 65.7% based on average production over first 25 years
- All-in sustaining cash cost of US$5,745 per metric tonne lithium carbonate equivalent places the Rhyolite Ridge Project in the bottom of the global lithium cost curve
- Compelling Project economics with an after-tax NPV of US$1.367 billion, and an unlevered, after-tax internal rate of return (IRR) of 14.5%
The Ore Reserve has increased by 186.6 million tonnes (Mt) and approximately 48% of the Mineral Resource has been converted into Reserve, now estimated at:
- 246.6 Mt at 1,464 ppm lithium and 5,444 ppm boron
- Containing 1.92 Mt of Lithium Carbonate Equivalent (LCE) and 7.68 Mt of Boric Acid Equivalent (BAE)
“Today’s updated Reserve and Mine Plan reinforces the importance of Rhyolite Ridge’s remarkable mineralogy. Our Ore Reserve estimate of 247 Mt containing a total of 1.92 Mt LCE and 7.68 Mt BAE make it the largest lithium-boron Reserve in the world,” said Bernard Rowe, Managing Director, Ioneer. “It allows Ioneer to match prevailing market conditions and blend or prioritise ore to produce a valuable boric acid co- product, whose market is uncorrelated with the Project’s primary lithium product. No other lithium project offers this level of flexibility and economic advantage. In periods of low cycle lithium pricing, like today, we plan to prioritize the high-boron ore production to optimize the relative proportion of total revenue derived from boric acid.”
By prioritising High-Boron (Hi-B) ore in the first 25 years of production, the Project is poised to produce an average of ~19,200 tonnes per annum (tpa) of LCE, and 116,400 tpa of boric acid (see Table 1).
The updated Ore Reserve estimate, 95-year mine plan for stage one operations, and Project economics reaffirms Rhyolite Ridge as a highly attractive global Project to produce lithium carbonate, lithium hydroxide and boric acid. The updated findings position Ioneer, on an LCE basis, in the lowest cost quartile for lithium production globally with an estimated all-in sustaining cash cost to produce battery grade lithium hydroxide of US$5,745 and a cash cost of C1 $3,858 per tonne net of expected boric acid revenue in the first 25 years.
The Project has a stable overall operating cost structure to produce lithium carbonate and battery grade lithium hydroxide due to the scale and reliability of its boric acid credit. Boron remains one of the most stable natural resource commodities over many decades.
Ioneer has refined Project plans over the past four years and updates now include an Association for the Advancement of Cost Engineering (AACE) Class 2 capital cost estimate (-10%, +15%) with approximately 70% of the Project’s engineering complete. As a result of this and other engineering work including RAM analysis and detailed engineering design, Ioneer has adopted a more conservative approach to plant availability, equipment downtime and maintenance strategies. While this approach reduces bottom line economics, the Company believes it is appropriate for a Project of this type and scale.
The Company now estimates total capital expenditure to complete the Project will be US$1,667.9 million, including a 10% contingency.
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Canada’s mining sector is gaining momentum, with over 130 projects with a total value of C$117.1 billion now planned or in construction, according to Natural Resources Canada’s 2024 inventory. That’s an increase of nine projects and C$23.5 billion from the previous year, signaling strong interest in resource development.
Yet despite this growth, the path to production remains slow. A study published in FACETS and cited by the Mining Association of Canada shows that the average timeline from discovery to production exceeds 17 years, highlighting the pressing need to streamline Canada’s complex and often lengthy permitting process.
Although miners, explorers and developers have long criticized the decades-long process, Canada’s federal and provincial governments have only recently begun working to expedite the process in an effort to harness the country’s vast critical minerals potential and assert the nation’s dominance in resource extraction.
The federal government has committed to expediting and streamlining the permitting process, laying out ambitious targets in its 2024 budget. Those goals include completing federal impact assessments and permitting for designated mining projects within five years, and within two years for non-designated projects.
Achieving these targets will involve establishing a federal mining permitting coordinator, enhancing funding for federal review authorities and promoting concurrent regulatory reviews to reduce duplication and delays
Provincial governments also play a significant role in mining project approvals.
A May 2025 report from the Mining Association of BC, outlines the economic potential of 27 advanced-stage mining projects in the province totaling more than C$90 billion. The projects highlighted in the report are described as new; however, there are several past-producing assets that are being offered a new lease on life.
One of those projects is Blue Lagoon Resources’ (CSE:BLLG,OTCQB:BLAGF) Dome Mountain gold project.
Located 50 minutes from Smithers, the 22,000 hectare property hosts the historic Dome Mountain mine, where past exploration and development were focused on the Boulder Vein, initially discovered in the 1980s.
In February, Blue Lagoon secured the final permit needed to advance its Dome Mountain project, clearing the way for production to begin in Q3 2025. The permit — one of just nine mining permits granted in BC since 2015 — marks a significant milestone for the junior miner, and positions the company to transition from an explorer to a gold and silver miner.
The path to production at Dome Mountain
Although Dome Mountain was in production between 1980 and 1993 under different management, securing permits to restart activity at the 30 year old brownfield proved as complex as starting up a greenfield project.
“It wasn’t easy at all,” said Vig. “They say that it takes over 15 years to get a mine permit in BC, and people are congratulating us that we got it in just under five. And personally, I thought it was four years too late.”
He went on to note, “Imagine being in any business that you have to wait. You know, you open up your restaurant, but then you have to wait for five years to open it. I mean, it’s incredibly difficult to get a mining permit”
Indeed, BC has one of Canada’s longest permitting processes. A 2019 report from Resource World notes that it takes six months on average to get an exploration permit in Canada. However, in BC, it can take 15 to18 months.
National and provincial critical minerals strategies have been established over the last six years, and parties on both sides of the aisle have promised policy reforms. But Vig underscored the challenges that remain.
“I think we want to believe that,” he said of the notion that the permitting process will be expedited through the critical minerals push. “I think the politicians are certainly saying that, but I’m not so confident that the execution can be there,” he continued. “Because, you know, you’ve got many factors. You’ve got the infrastructure of the government itself, the bureaucracy. There are only so many people that are able to process these applications.”
Indigenous consultation and permitting with purpose
A key requirement in the permitting process is Indigenous community consultation, engagement and approval, an area provincial governments have struggled to seamlessly integrate into the process.
For Blue Lagoon, communication and consultation with the Lake Babine Nation started early and remains a key tenet.
The Lake Babine Nation is one of BC’s largest Indigenous communities, with over 2,500 registered members. Its traditional territory surrounds Babine Lake, the province’s longest natural lake.
“We have a great relationship with the Lake Babine Nation,” said Vig. “You know, honestly, it was a very simple process. It’s a philosophy, that is very rudimentary, certainly in my culture.” Vig, who is of Indian heritage, moved to Canada in 1972 with his family, credits those formative years for fostering his deep sense of respect.
“My whole upbringing is all about respect. So for us, it was very simple — respect the people, respect the land,” he said, adding that a lot of it was common sense. “Protect the water, protect the land and make sure you don’t damage it as you go along (are) good practices (for) any business,” Vig emphasized.
Water conservation and protection is especially important to Blue Lagoon, an issue Vig described as “a way of life” due to its significance for fishing and cultural practices.
‘You don’t wait to be asked — you take the initiative to understand what matters most,” he said.
As he explained, provincial regulatory requirements called for water testing at five sites along a specific stream, and Blue Lagoon chose to conduct testing at nine locations instead.
“It’s really unheard of in our industry, to the best of my knowledge. We didn’t just do what was required of us. We like to go above and beyond to make sure. And when you do things like that, I think the sincerity comes across,” he said.
Financing in a tough market
Another challenge junior miners are facing is accessing funding. Investors who once used added liquidity to the space have moved to other sectors like tech, leaving mining coffers on the decline.
Blue Lagoon has been fortunate in terms of capital raising; the company completed the final tranche of its most recent private placement in late April, raising C$2.23 million through the issuance of 8.9 million units at C$0.25 each.
The full offering brought in C$4.87 million over four tranches, fully funding Dome Mountain to production.
Blue Lagoon’s ability to fast track its permitting and funding process were praised by mining committee chair Yannis Tsitos, who has more than two decades of experience in the mining sector working for companies like global commodities giant BHP (ASX:BHP,NYSE:BHP,LSE:BHP). Drawing on his history with large-scale operations, Tsitos described the Blue Lagoon’s approach as unusually nimble and disciplined.
“We haven’t cut a single corner,” he said, noting that while major players can afford to raise hundreds of millions upfront, most juniors must build organically. “What’s impressive is how this team — led by Rana — used creativity and persistence to move forward without delay,” he added. “It’s not about size; it’s about profitability and execution.”
He emphasized that Dome Mountain’s 15,000 ounce per year potential is just the beginning.
“Every major company started with one mine,” said Tsitos. “This could be the first step in something much bigger, and it’s happening right here in BC, which is hungry for investment.”
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
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Harmony Gold Mining Company’s (NYSE:HMY,JSE:HAR) wholly owned Australian subsidiary, Harmony Gold (Australia), has entered into a binding agreement to acquire MAC Copper (NYSE:MTAL,ASX:MAC).
MAC is the owner of the CSA copper mine in New South Wales. Its annual production comes to approximately 40,000 metric tons of copper, with 2024 output totaling 41,000 metric tons of the red metal.
The transaction is priced at US$12.12 per MAC share in cash, implying a total equity value of US$1.03 billion for MAC.
“(This acquisition) is significant as it introduces a high-quality, established underground producing copper asset to the Harmony portfolio,” said Harmony Gold CEO Beyers Nel in a Tuesday (May 27) press release.
“The operation is a logical fit with the portfolio given it meets Harmony’s core investment criteria, including increasing free cash flow generation while improving margins at long-term expected commodity prices.”
Located 700 kilometers west-northwest of Sydney in the Cobar region, CSA has a history that stretches back at least 150 years. Its reserve life stands at over 12 years, and it has maintained a stable resource over the last decade.
Harmony believes CSA will be a valuable addition to its sole Australian asset, Eva, in Northwest Queensland. Harmony acquired Eva in December 2022, and believes it is set to become the state’s biggest copper mine.
According to the company, Eva and CSA could together boost its copper production on the east coast of Australia to 100,000 metric tons annually over the course of the next five years.
The transaction remains subject to certain conditions, but MAC’s board has unanimously recommended that shareholders vote in favor of the scheme. Should everything follow to schedule, the deal is expected to close in Q4.
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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Discover the top 10 stock charts to watch this month with Grayson Roze and David Keller, CMT. From breakout strategies to moving average setups, the duo walk through technical analysis techniques using relative strength, momentum, and trend-following indicators.
In this video, viewers will also gain insight into key market trends and chart patterns that could directly impact your trading strategy. Whether you’re a short-term trader or a long-term investor, this breakdown will help you stay one step ahead.
This video originally premiered on May 30, 2025. Click on the above image to watch on our dedicated Grayson Roze page on StockCharts TV.
You can view previously recorded videos from Grayson at this link.
Over the past five sessions, the Indian equity markets headed nowhere and continued consolidating in a defined range. In the previous weekly note, it was categorically expected that the markets might stay devoid of any directional bias unless they either take out the upper edge or violate the lower edge of the consolidation zone. In line with the analysis, the Nifty oscillated in a 401.90-point range over the past five days. The volatility also retraced; the India Vix came off by 6.95% to 16.08 on a weekly basis. While staying absolutely range-bound, the headline index Nifty 50 closed with a minor weekly loss of 102.45 points (-0.41%).
As we step into the new week, the markets find themselves in a defined trading range, more toward the edge of the pattern support on the weekly chart. The Nifty appears to continue being in a well-defined trading range between 25100 and 24500 levels. This also implies that a directional trend would emerge only if the Nifty takes out 25100 convincingly or ends up violating the 24500 level. Unless either of these two things happens, the markets will remain devoid of directional bias and will continue staying in this defined range. The present technical structure makes it even more important to maintain a steadfast focus on protecting profits at higher levels and the rotation of sectors where a likely leadership change is visible.
The coming week is expected to see the levels of 25000 and 25175 acting as resistance points. The supports come in at 24500 and 24380 levels.
The weekly RSI is at 59.02; it stays neutral and does not show any divergence against the price. The weekly MACD is bullish and remains above its signal line.
The pattern analysis shows that after forming the most recent swing high at 25116, the Nifty has resisted this level for two subsequent weeks. This makes the level of 25100-25150 an important hurdle for the Nifty. Secondly, the Index has closed just at the support of an upward rising trendline; if this gets violated, the markets may see some more corrective retracement. Overall, the zone of 24500-24600 remains a crucial support area for the markets.
While the Nifty stays in the 25100-24500 zone and consolidates, focusing on protecting profits at higher levels would be wise. While the market keeps its underlying trend intact, it continues to remain prone to some extended corrective retracement until the levels of 25100 are taken out on the upside convincingly. During this phase, it makes more sense to keep leveraged exposures at modest levels and stay highly selective in making fresh purchases. While limiting the purchases to favorably rotating sectors, a cautious outlook is recommended for the coming week.
Sector Analysis for the coming week
In our look at Relative Rotation Graphs®, we compared various sectors against the CNX500 (NIFTY 500 Index), representing over 95% of the free-float market cap of all the listed stocks.
Relative Rotation Graphs (RRG) show that the Nifty PSU Bank Index is the only Index inside the leading quadrant that continues to improve its relative momentum against the broader markets. The other sectors present inside the leading quadrant are PSE, Infrastructure, Consumption, and FMCG, and these groups show continued paring of relative momentum against the broader markets.
The Nifty Commodities and the Nifty Bank Index have rolled inside the weakening quadrant. The Financial Services and the Services sector Indices are also inside the weakening quadrant.
The Nifty Metal Index has rolled inside the lagging quadrant. It is likely to relatively underperform along with the Pharma Index which also continues to languish inside this quadrant. The IT Index is also inside the lagging quadrant, but is seen sharply improving its relative momentum against the broader markets.
The Realty, Media, Energy, Midcap 100, and Auto Indices are inside the improving quadrant. They are likely to continue improving their relative performance against the broader Nifty 500 Index.
Important Note: RRG charts show the relative strength and momentum of a group of stocks. In the above Chart, they show relative performance against NIFTY500 Index (Broader Markets) and should not be used directly as buy or sell signals.
Milan Vaishnav, CMT, MSTA
Consulting Technical Analyst
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U.S. Secretary of Defense Pete Hegseth issued a stark warning Saturday at the Shangri-La Dialogue security conference in Singapore: China’s military is ‘rehearsing for the real deal,’ and a full-scale invasion of Taiwan ‘could be imminent.’
‘We are not going to sugarcoat it – the threat China poses is real,’ he added.
Beijing swiftly rejected the allegation. Rear Admiral Hu Gangfeng, head of the Chinese delegation and vice president of China’s National Defense University, called the remarks ‘groundless accusations,’ stating that ‘some of the claims are completely fabricated, some distort facts and some are cases of a thief crying ‘stop thief.’’ Despite such denials, a growing body of evidence suggests China may indeed be preparing for a military move against Taiwan.
Numerous indicators draw this conclusion. Here are nine:
1. China has intensified its joint sea and air exercises surrounding Taiwan, including rehearsals simulating blockades, encirclements, and amphibious assaults. These drills closely mirror operational strategies that would likely be employed in an actual invasion and are widely interpreted by analysts as concrete signals of Beijing’s willingness to use force.
2. The Peoples’ Liberation Army (PLA) has positioned H-6 bombers, capable of delivering nuclear payloads, on outposts such as Woody Island in the South China Sea. These platforms significantly extend China’s strike capability and serve as strategic messaging to both Taipei and Washington.
3. China continues to conduct gray-zone operations aka non-kinetic forms of coercion, including cyberattacks on Taiwan’s infrastructure, disinformation campaigns, and illegal incursions by maritime militia vessels. Though these actions fall below the threshold of open warfare, they are designed to wear down Taiwan’s defenses and destabilize the region.
4. According to U.S. intelligence assessments, Chinese President Xi Jinping has instructed the PLA to be capable of launching an invasion of Taiwan by 2027. While not a confirmed deadline for action, it has catalyzed PLA modernization, emphasizing joint force integration and amphibious readiness.
5. China’s strategic expansion in Latin America – especially through Belt and Road investments and attempts to influence key nodes such as the Panama Canal reflect broader ambitions to project global power and encircle U.S. interests. These moves indirectly support Taiwan-related ambitions by distracting or overextending U.S. response capabilities.
6. Recent PLA exercises have incorporated civilian ferries capable of transporting tanks and personnel—suggesting preparations for amphibious operations on Taiwan’s shores. The dual-use nature of these assets allows China to mask military buildup under the guise of civilian activity.
7. Beijing has intensified its political narrative around ‘reunification,’ including state media coverage, educational reforms, and speeches by top Chinese officials. These ideological signals often precede military action in authoritarian regimes.
8, China has rapidly expanded its coastal infrastructure, including new docks, airstrips, and logistics hubs in Fujian Province—directly across the Taiwan Strait. Satellite imagery suggests these assets are optimized for a cross-strait operation.
9. Chinese fighter jets and warships have entered Taiwan’s Air Defense Identification Zone (ADIZ) at unprecedented levels. In early 2025 alone, PLA aircraft breached Taiwan’s ADIZ over 1,200 times, prompting elevated readiness levels in Taipei.
The question of whether China will invade Taiwan is no longer hypothetical but a matter of timing and risk calculus. While Beijing continues to deny aggressive intent, the evidence suggests a sustained and deliberate military buildup with the intent to compel reunification—if not peacefully, then by force.
Hegseth’s warning reflects not alarmism, but a sober assessment of escalating realities. These indicators—military drills, strategic deployments, political rhetoric, and infrastructure mobilization—align with historical precedents for pre-invasion posturing.
The international community must take this threat seriously. Strengthening deterrence, improving intelligence sharing, and reinforcing Taiwan’s self-defense capabilities are critical to avoiding a regional catastrophe. For the United States and its allies, readiness is no longer optional—it is a strategic imperative.
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Jerusalem – Iran angrily lashed out at Austria’s government Friday after Fox News Digital reported on a document asserting that Tehran has developed an advanced nuclear weapons program that can launch long-range missiles.
The explosive report from Austria’s version of the FBI—the Directorate State Protection and Intelligence Service—provides a specialized window into the Iranian regime’s illicit atomic weapons program and its espionage activities in the central European country.
Fox News Digital was the first news organization to report on the Iran sections of the report on Wednesday, sparking a major diplomatic row between the Islamic Republic and Austria.
‘The Iranian nuclear weapons development program is well advanced, and Iran possesses a growing arsenal of ballistic missiles capable of delivering nuclear warheads over long distances,’ the Austrian domestic intelligence agency report stated.
Iran’s Foreign Ministry spokesperson, Esmail Baqaei, denounced the Austrian intelligence agency ‘for spreading lies,’ and called on the Austrian government to ‘provide an official explanation regarding the irresponsible, provocative, and destructive act by one of its official institutions,’ according to the Ministry’s website.
Tehran-based Austrian diplomat Michaela Pacher was summoned to the Iranian foreign ministry, according to the Austrian Federal Ministry for European and International Affairs.
‘[Pacher] took this opportunity to reiterate Austria’s and the EU’s position on the Iranian nuclear program,’ Austrian officials said in a statement. ‘This position was most recently expressed to the Board of Governors of the International Atomic Energy Agency.’
Austria expressed support for an EU statement along with other countries in March.
‘Iran already accumulated more than six significant quantities of 60% enriched material [which the Agency defines as the approximate amount of nuclear material for which the possibility of manufacturing a nuclear explosive device cannot be excluded] and is currently producing one significant quantity of highly enriched uranium every month,’ noted the EU statement.
The EU statement added that ‘All these actions carry very significant proliferation-related risks and raise grave concerns about Iran’s intentions, since they have no credible civilian justification. In this context, the EU remains concerned by statements made by Iranian officials about Iran’s capacity to assemble a nuclear weapon.’
The shocking Austrian intelligence findings contradict the assessment of U.S. intelligence agencies that Iran has yet to begin a weapons program, but has ‘undertaken activities that better position it to produce a nuclear device, if it chooses to do so.’ There have long been conflicting views (between U.S. intelligence agencies and European intelligence services) over Iran’s illegal nuclear weapons program.
The U.S. Office of the Director of National Intelligence declined to comment on the Austrian report.
‘President Trump is committed to Iran never obtaining a nuclear weapon or the capacity to build one,’ a White House official said.
The Austrian report coincides with a new International Atomic Energy Agency (IAEA) report. The AP reported on Saturday that Iran has further increased its stockpile of uranium enriched to near weapons-grade levels, a confidential report by the UN nuclear watchdog said Saturday and called on Tehran to urgently change course and comply with the agency’s probe.
The report comes at a sensitive time as Tehran and Washington have been holding several rounds of talks in the past weeks over a possible nuclear deal that U.S. President Donald Trump is trying to reach.
The report by the Vienna-based International Atomic Energy Agency says that as of May 17, Iran has amassed 408.6 kilograms (900.8 pounds) of uranium enriched up to 60%.
That material is a short, technical step away from weapons-grade levels of 90%. A report in February put the stockpile at 274.8 kilograms (605.8 pounds).
The IAEA report raised a stern warning, saying that Iran is now ‘the only non-nuclear-weapon state to produce such material’ — something the agency said was of ‘serious concern.’
In February, Fox News Digital reported that the IAEA said Iran has sufficient enriched uranium to manufacture six nuclear weapons.
‘The Islamic Republic is the standard-bearer of deception and stonewalling. Today’s damning IAEA reports confirm how Iran has been in violation of the NPT [Nuclear Non-Proliferation Treaty] for years, even when the JCPOA [Joint Comprehensive Plan of Action] was in effect. It shows the regime cannot be trusted with any diplomatic agreement,’ said Jason Brodsky, the policy director of United Against Nuclear Iran (UANI).
The JCPOA is the formal name for the Iran nuclear deal that was concluded between the Obama administration and Iran. President Trump withdrew from the JCPOA in 2018 because, his administration said at the time, the deal did not prevent Iran from building nuclear weapons.
‘I think Iran’s regime’s response to Austria’s findings shows its sensitivity over these matters,’ Brodsky said. ‘It also wants to bully Austria. Austria should force the Iranian regime to decrease the size of its embassy in Vienna which it has long used as a hub for malign intelligence collection and operations throughout Europe.’
The clerical regime’s foreign minister, Seyed Abbas Araghchi, posted on his X account a statement in response to the Fox News Digital report.
‘Media is speculating about an imminent Iran-U.S. deal. Not sure if we are there yet,’ he wrote. ‘Iran is sincere about a diplomatic solution that will serve the interests of all sides.
‘But getting there requires an agreement that will fully terminate all sanctions and uphold Iran’s nuclear rights—including enrichment. Path to a deal goes through the negotiating table and not the media.’
The U.S. talks to dismantle Iran’s illicit atomic weapons program coincides with a nationwide truckers’ strike in Iran. The widespread labor unrest could severely weaken the regime, according to Iran experts.
The exiled crown prince of Iran, Reza Pahlavi, who lives in the U.S, called on U.S. labor unions to stand with Iranian truckers.
‘Truck drivers and workers across Iran are on strike and are putting their lives on the line to fight for their rights and for a better future for their families,’ Pahlavi, who lives in the U.S, wrote on X. ‘Now, they are being jailed and threatened for posting photos and videos of their strike. Only in a free Iran will all workers have the right to freely and openly organize. I invite you, labor unions and leaders, to stand with your fellow workers in Iran and show your solidarity.’
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Hamas has agreed to release 10 living hostages and return the bodies of 18 more, but the terms of the proposed deal have been deemed unacceptable by the U.S. and Israel.
The group, which has been on the State Department’s list of Foreign Terrorist Organizations since 1997, made the announcement in a statement Saturday and said it was being done on the condition that a number of Palestinian prisoners be returned in exchange as part of a means to achieve a permanent ceasefire.
Israeli media reported that Hamas added new demands to the proposal from U.S. Special Envoy Steve Witkoff, including a permanent ceasefire, complete Israeli withdrawal from Gaza and unrestricted humanitarian aid flow into the strip.
Witkoff’s proposal did not include a full withdrawal or a ceasefire, the Jerusalem Post reported, and that Hamas added terms of its own.
In a statement posted to X on Saturday, Witkoff called Hamas’ response to the American proposal ‘totally unacceptable’ and warned it ‘only takes us backward.’ He urged the group to accept the original framework in order to begin proximity talks as early as next week, which could pave the way for a 60-day ceasefire and the return of both living and deceased hostages.
In a statement before Witkoff’s response, Hamas wrote: ‘After conducting a round of national consultations, and based on our immense sense of responsibility towards our people and their suffering, the Islamic Resistance Movement (Hamas) today submitted its response to US Special Envoy Steve Witkoff’s latest proposal to the mediating parties.
‘This proposal aims to achieve a permanent ceasefire, a comprehensive withdrawal from the Gaza Strip, and ensure the flow of aid to our people and our families in the Gaza Strip.’
Reacting to the announcement, the Israeli Prime Minister’s Office said in a statement that while Israel had agreed to the updated Witkoff framework, ‘Hamas continues to cling to its refusal.’ The office emphasized that Israel remains committed to bringing its hostages home and defeating Hamas, citing Witkoff’s remarks as confirmation that Hamas’ latest stance undermines progress.
Hamas is holding 58 hostages in Gaza. Of these, Israeli intelligence assesses that at least 34 are deceased, leaving approximately 24 believed to be alive. More than 250 people were captured during the Hamas terror attacks on southern Israel on Oct. 7, 2023.
The latest proposal being negotiated involves the release of 10 living hostages and a number of bodies during a 60-day pause in exchange for more than 1,100 Palestinians imprisoned by Israel, including 100 serving long sentences after being convicted of deadly attacks, The Associated Press reported Friday, citing a Hamas official and an Egyptian official speaking on condition of anonymity.
U.S. negotiators had not publicized the terms of the proposal.
Witkoff’s office reiterated on social media that the proposed deal could allow ‘half of the living hostages and half of those who are deceased’ to return to their families if Hamas agrees to enter talks under the current terms.
The statement stressed that the window to finalize the deal is narrowing, and that major negotiations could begin ‘in good faith’ within days if Hamas accepts.
‘As stated by the U.S. President’s special envoy to the Middle East, Steve Witkoff: Hamas’ response is unacceptable and sets the situation back,’ the Prime Minister’s Office said.
President Donald Trump said Friday that negotiators were nearing a deal.
‘They’re very close to an agreement on Gaza, and we’ll let you know about it during the day or maybe tomorrow,’ Trump told reporters in Washington. Late in the evening, asked if he was confident Hamas would approve the deal, he told reporters: ‘They’re in a big mess. I think they want to get out of it.’
Deep differences between Hamas and Israel have stymied previous attempts to restore a ceasefire that broke down in March.
Israel has insisted that Hamas disarm completely, be dismantled as a military and governing force and return all hostages still held in Gaza before it agrees to end the war. Hamas has rejected the demand to give up its weapons and says Israel must pull its troops out of Gaza and commit to ending the war.
The Associated Press and Reuters contributed to this report.
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The White House on Saturday said it is in Iran’s ‘best interest to accept’ its proposal on a nuclear deal following a report from the International Atomic Energy Agency saying the country is swiftly increasing its stockpile of near weapons-grade enriched uranium.
‘President Trump has made it clear that Iran can never obtain a nuclear bomb,’ White House press secretary Karoline Leavitt said in a statement. ‘Special Envoy [Steve] Witkoff has sent a detailed and acceptable proposal to the Iranian regime, and it’s in their best interest to accept it. Out of respect for the ongoing deal, the administration will not comment on details of the proposal to the media.’
The IAEA’s report said Iran had increased its stockpile to 900.8 pounds of uranium enriched by up to 60% as of May 17, a nearly 50% increase since the agency’s last report in February, which put the stockpile at 605.8 pounds.
The report said Iran is ‘the only non-nuclear-weapon state to produce such material,’ which is a ‘serious concern.’
The IAEA added that just 92 pounds of 60% enriched uranium is enough to produce an atomic bomb if it is enriched to 90%.
Iran maintains that its nuclear program is for peaceful purposes, but U.S. intelligence agencies say the country has ‘undertaken activities that better position it to produce a nuclear device, if it chooses to do so.’
Iran’s Foreign Ministry and the Atomic Energy Organization of Iran said in a joint statement that the report was based on ‘unreliable and differing information sources,’ claiming that it was biased and unprofessional.
The statement added, ‘The Islamic Republic of Iran expresses its disappointment about the report, which was prepared by imposing pressure on the agency for political purposes, and expresses its obvious objection about its content.’
On Thursday, Iran Foreign Minister Abbas Araghchi wrote on X that he was unsure a U.S.-Iran nuclear deal could be imminently reached.
‘Iran is sincere about a diplomatic solution that will serve the interests of all sides. But getting there requires an agreement that will fully terminate all sanctions and uphold Iran’s nuclear rights — including enrichment,’ he wrote.
Oman Foreign Minister Badr al-Busaidi presented the Trump administration’s first formal proposal in Tehran Saturday, which calls for Iran to cease all uranium enrichment and for a regional consortium that includes Iran, Saudi Arabia and other Arab states and the U.S. for producing nuclear power, The New York Times reported, citing people familiar with the document.
Israeli Prime Minister Benjamin Netanyahu’s office also put out a rare statement on a Saturday about the IAEA’s report, calling it ‘grave.’
‘The agency presents a stark picture that serves as a clear warning sign: Despite countless warnings by the international community, Iran is totally determined to complete its nuclear weapons program,’ Netanyahu’s office said.
‘The report strongly reinforces what Israel has been saying for years — the purpose of Iran’s nuclear program is not peaceful. This is evident from the alarming scope of Iran’s uranium enrichment activity. Such a level of enrichment exists only in countries actively pursuing nuclear weapons and has no civilian justification whatsoever.
‘The report clearly indicates that Iran remains in non-compliance of its fundamental commitments and obligations under the Non-Proliferation Treaty (NPT) and continues to withhold cooperation from IAEA inspectors. The international community must act now to stop Iran.’
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