Calgary-based Litus has signed a 25 May memorandum of understanding with Taiwan’s UWin Nanotech to jointly develop selective extraction, separation, recovery and purification flowsheets for cobalt, lithium, nickel and other elements from battery recycling and other secondary sources. The collaboration will combine Litus’ LiNC one-step direct lithium extraction platform for low- and high-concentration brines and its ReLiGN battery recycling process with UWin’s hydrometallurgical systems used in Apple-certified e‑waste and Li-ion recycling. Engineers should watch for integrated nanomaterial–hydromet circuits targeting both critical minerals and rare earth elements in circular supply chains.

Gold fell as much as 3.5% to $4,315/oz, its lowest since March, erasing 2026 gains after a strong US May nonfarm payrolls print pushed Treasury yields and the dollar higher and lifted Fed rate hike odds. US gold futures dropped over 3.2% to $4,342/oz, with CME FedWatch now pricing about a 68% chance of a December hike versus roughly 50% pre-data. Since the Iran war began and the Strait of Hormuz closure drove energy prices up, bullion has slid nearly 18%, raising the cost of carry for non-yielding gold.

Tungsten producer Almonty Industries is issuing US$700 million of 2.25% senior convertible notes, convertible at US$27.40 per share with a capped call at US$41.36, to fund about US$543 million of working capital plus US$50 million of debt refinancing, causing an 18% share price drop to roughly US$17.20. The notes, offered to qualified institutional buyers and settling on 9 June 2026, include an option for a further US$100 million. Funding supports ramp-up at the Sangdong mine in South Korea, where a 640,000 t/y plant targets 2,300 t/y tungsten concentrate, with Phase 2 aiming for 1.2 Mt/y and 4,600 t/y output.