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The Antimony Ridge project in Idaho will be included in the US Federal FAST-41 Permitting Transparency Program, as Resolution Minerals (ASX: RML) looks to advance proposed bulk sampling and drilling activities.FAST-41 designation is expected to accelerate permitting timelines through enhanced inter-agency coordination, transparent milestone tracking and dedicated federal oversight.Resolution said the program inclusion is expected to enhance investor visibility and support engagement with potential strategic partners and funding sources aligned with the US critical minerals policy.The designation comes in response to the Trump Administration’s move to reduce reliance on foreign adversaries for the supply of critical minerals with the White House calling for immediate measures to facilitate domestic mineral production.US Congressman Russ Fulcher says antimony is a key component in the production of defence weaponry and energy technology.“I am pleased to see the Antimony Ridge project receive FAST-41 transparency status,” he said.“Ensuring we have a strong domestic supply of this natural resource — sourced right here in Idaho in an environmentally friendly way — is vital to US national defence and economic security.”The US remains heavily reliant on imported antimony, with China dominating global production.Resolution Minerals says US antimony and tungsten supplies are critically low due to ongoing global conflicts and export restrictions.Resolution US operations chief executive Craig Lindsay says Antimony Ridge is a key part of the company’s broader strategy to develop a US-based critical minerals platform.“With exploration, processing infrastructure and multiple development pathways now coming together at Horse Heaven, we believe the company is uniquely positioned to capitalise on strong demand for antimony, tungsten and gold,” he said.Antimony Ridge is part of the Horse Heaven project, which includes a recently acquired processing mill and infrastructure, historical tungsten stockpiles and a fully funded Phase 2 drilling program at Golden Gate.Resolution will now work with the US Forest Service to advance the Antimony Ridge plan of operations through the FAST-41 process.Following approval, Resolution intends to commence a bulk sampling program of near-surface high-grade antimony mineralisation, alongside a drilling campaign designed to define the scale of the system.

The ongoing conflict in the Middle East is introducing new upside risks to the global aluminium market, extending the fallout beyond the existing impacts to oil and gas.Given the concentration of export-oriented smelting capacity in the Gulf and the reliance on shipping routes through the blockaded Strait of Hormuz, disruptions to regional trade flows could remove up to 3.5mt of aluminium output from the global market in 2026, according to Wood Mackenzie.Though Iran itself only produces about .6mtpa of aluminium, ING analysts say the greater market risk stems from potential disruptions to the Middle East Gulf region aluminium exports as well as alumina and bauxite imports passing through the Strait of Hormuz.Wood Mackenzie principal analyst Charvi Trivedi says the Strait of Hormuz is effectively a chokepoint for the global aluminium market.“Disruptions here could cut off up to 60% of alumina supply to Middle Eastern smelters, rapidly deepening the market deficit,” she said.“The longer the conflict persists, the more difficult it becomes for producers to sustain operations, with risks increasingly skewed toward further supply losses and higher prices.”ING analysts say aluminium smelters in the Gulf are heavily reliant on continuous imports of raw materials, such as alumina, leaving production vulnerable to shipping disruptions.In a direct response to alumina supply issues, Qatalum has reduced the operational capacity of its smelter in Qatar to 60% and Ma’aden, a Saudi Arabian producer, is supplying emergency alumina to neighbouring smelters, according to Wood Mackenzie.Direct attacks on aluminium sites have also forced producers into emergency responses across the region. On March 28, Iran struck major industrial infrastructure at two major aluminium production facilities, the Emirates Global Aluminium’s (EGA) Al Taweelah smelter in Abu Dhabi and Aluminium Bahrain’s (Alba) smelter in Bahrain.Following the attacks, EGA entered emergency shutdown at its 1.6mtpa facility and Alba expects to operate at an estimated utilisation of about 30% until damages are repaired, according to Wood MacKenzie.With the majority of Middle Eastern aluminium production exported to key markets —about 80 – 85% according to Wood Mackenzie — including Europe, the US, Japan, South Korea, Turkey and Mexico, the disruption poses significant risks to global manufacturing supply chains.Wood Mackenzie principal analyst Uday Patel says the disruption highlights how concentrated and fragile aluminium supply chains have become.“With so much production and export infrastructure tied to a single trade route, even short-term disruptions can have outsized and immediate global consequences,” he said.Prior to the escalation of the Middle East conflict, ING said the aluminium market was already under major pressure from China’s 45mt production cap, trade dislocation and the imminent shutdowns of South 32’s (ASX: S32) Mozal aluminium smelter in Mozambique.Wood Mackenzie expects aluminium prices to rise to about $5000/t in 2026, with outcomes highly sensitive to the duration and severity of the conflict. ING analysts predict that, in a sever disruption scenario, aluminium prices could briefly move above $4,000/t, but demand destruction would likely limit further upside.

The Simandou iron ore project in Guinea is set to be the primary catalyst for long-term supply growth of seaborne iron ore as ramp-up begins, according to Wood Mackenzie.Wood Mackenzie expects Simandou to export around 16mt in 2026, with volumes rising progressively thereafter despite infrastructure bottlenecks and logistical complexities driving a phased and non-linear increase in output.After more than two decades of delays, the project entered its execution phase following Guinea’s political reset in September 2021, which resolved a long-standing development deadlock. Development has since progressed steadily, with early exports now in focus and downstream market impacts beginning to emerge.Rather than simply adding volume, Simandou is expected to displace higher-cost supply, tightening the competitive landscape and reinforcing a sharper cost and quality hierarchy across the seaborne market, according to Wood Mackenzie.Wood Mackenzie iron ore research director David Cachot says Simandou will become the single biggest driver of seaborne supply growth over the coming decade.“These tonnes will increasingly displace higher-cost supply, reshape the cost curve and reinforce the market’s shift toward higher-quality material,” he said.“The ramp-up will not be linear, and that uncertainty will be a key factor shaping market sentiment in the near term.”For Australian producers, near-term impacts remain manageable as the Pilbara continues to benefit from blending optionality, with lower-grade ores clearing the market efficiently when combined with higher-quality material, according to Wood Mackenzie.However, Wood Mackenzie expects this advantage to erode over time and, as Simandou ramps up and demand preferences shift toward higher-quality feedstocks, competitive pressure is likely to emerge first in lower-grade supply.“This does not imply an abrupt displacement of Pilbara volumes,” Mr Cachot said.“Rather, it highlights where pressure will emerge first, as marginal tonnes become increasingly vulnerable in a more quality-sensitive market.”The competitive interaction with Brazil appears more direct as Brazilian producers, particularly Vale, compete head-to-head with Simandou on quality, prompting a shift toward greater portfolio flexibility.Rather than defending every premium tonne, producers are increasingly optimising product mix, including blending strategies and selective use of third-party material and, while high-grade Brazilian supply remains well positioned over the longer term, increased competition in premium segments may place pressure on realised premia, Wood Mackenzie reports.Simandou sits within a broader wave of African supply development, alongside emerging iron ore projects in Gabon, Congo and Algeria which, together, point to a more geographically diversified and increasingly Africa-centric supply landscape.Simandou’s rise also coincides with broader structural shifts in the global steelmaking market including industry consolidation, decarbonisation pathways and the growth of direct reduced iron (DRI) production.As steelmakers prioritise efficiency and emissions reduction, raw material quality is becoming increasingly central to competitiveness, according to Wood Mackenzie.“The strategic importance of high-grade iron ore in enabling lower-emissions steelmaking is becoming increasingly clear,” Mr Cachot said.“DRI and other emerging technologies remain highly sensitive to feedstock quality, reinforcing long-term demand for premium products.”