Jindalee Lithium will spin out its US assets into Nasdaq-bound US Elemental via a merger with a US-listed SPAC, retaining about 80% ownership and targeting a Q3–Q4 2026 listing as work accelerates at the McDermitt lithium project on the Oregon–Nevada border. A 2024 pre-feasibility study for McDermitt, one of the two largest known US lithium resources alongside Thacker Pass, outlined a 60+ year mine life from only part of the resource, with in-fill drilling and a full feasibility study scheduled for 2026–27. McDermitt’s inclusion in the FAST-41 federal permitting programme aims to secure key permits by end-2028, positioning the project ahead of many peers while remaining insulated from current construction cost spikes.

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.