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Cobalt
 
Reuters India - October 5, 2018
LONDON, Oct 5 (Reuters) - The London Metal Exchange is preparing plans that will allow it to clamp down swiftly on cobalt brands on its...
have been mined in the DRC by children in artisanal mines surfaced more than a year ago. Nanjing Hanrui Cobalt, the main provider of raw

Cobalt is a key ingredient in the batteries that power electric vehicles, a fast-growing sector in the auto industry, and in metal alloys used to make jet engines…It has been singled out in the LME’s proposal to embed responsible sourcing principles into metal brands deliverable against its contracts, as most of the world’s supply comes from the Democratic Republic of Congo, often from artisanal mines where human rights abuses are rife…Concerns that some providers of cobalt to the exchange may have used child labour have helped create a discount for the LME’s cobalt contract against prices gathered by trade publication Metal Bulletin, sources said…LME cobalt is currently around $63,000 a tonne. The contract’s discount to Metal Bulletin prices is currently around $13,000 a tonne, the sources said…The LME’s physically deliverable cobalt contract was launched in 2010, and it will add a cash-settled contract in 2019. Referring to the longstanding problem of discounts, cobalt traders said the LME needs to resolve the issue.

 
Financial Post - October 5, 2018
world leader in the mining and refining of nickel and cobalt from lateritic ores, today published the Applicable Reference Cobalt Price and

…today published the Applicable Reference Cobalt Price and Applicable Common Shares per Warrant Ratio for the three-month period ended September 30, 2018…Consistent with the terms of the Warrant Indenture dated as of January 25, 2018 and available on SEDAR, Sherritt will calculate and publish the Applicable Reference Cobalt Price based on the simple average of the midpoint of the Fastmarkets MB (formerly known as Metal Bulletin) High Price and the Fastmarkets MB Low Price1, expressed in US dollars per pound, for the three consecutive full calendar months immediately preceding each monthly Conversion Ratio Reset Date…Reference Date: September 30, 2018; Applicable Reference Cobalt Price: US$35.21

 
Financial Times - October 8, 2018
Small-scale mining that is unregulated and dangerous cannot be “wished away” as the push by carmakers into electric vehicles generates...

Speaking to delegates at the biggest annual gathering of the metals industry, Jeremy Weir said battery-related demand for cobalt was expected to at least treble by 2025, leaving the market dependent on a handful of mines in the DRC, one of the most impoverished and politically volatile countries in Africa…“Two-thirds of the world’s cobalt reserves are located in the Democratic Republic of Congo. And as we are reminded daily, mining in the DRC is fraught with problems. One of these challenges relates to the role of artisanal, small-scale mining, commonly referred to as ASM,” he said… “The reality is that there are hundreds of thousands of people in the DRC who earn a living through work in the ASM sector. It’s illegal in many cases; it’s unregulated and can be very dangerous. But it can’t be wished away.”

 
Reuters US News - October 8, 2018
Cobalt is a key ingredient in the batteries that power electric vehicles, a fast-growing sector in the auto industry, and in metal alloys...
non-governmental organisation Pact and Chemaf will supervise the artisanal and small-scale miners, administer drug and alcohol tests before

Trafigura is investing in a project that will formalise and monitor artisanal and small-scale cobalt miners in the Democratic Republic of Congo, the chief executive of the commodities trader said on Monday…Cobalt is a key ingredient in the batteries that power electric vehicles, a fast-growing sector in the auto industry, and in metal alloys used to make jet engines…Trafigura’s project will be piloted on the Mutoshi mine in Congo and aims to train, provide protective equipment to and organise cobalt miners into licensed cooperatives, Jeremy Weir told a seminar hosted by the LME…Mutoshi is owned by Chemaf, the Congo subsidiary of Dubai-based Shalina Resources…Trafigura signed a cobalt offtake agreement with Chemaf in April to increase its foothold in minerals that will benefit from an expected boom in electric vehicles. 

 
 
EVs
 
BNN Bloomberg - October 9, 2018
regulatory scrutiny in China. Daimler is considering using cars from its electric-vehicle brand Denza, its joint venture with Warren Buffett

The German manufacturer is in talks with Li’s Zhejiang Geely Holding Group Co. in setting up a 50-50 joint venture to offer the services, said one of the people, who asked not to be named as the plan is private…The services would be a concrete step into cooperation between billionaire Li Shufu’s Geely Group and Daimler, deepening a relationship that started with the Li acquiring almost 10 percent of the German company early this year…Daimler is considering using cars from its electric-vehicle brand Denza, its joint venture with Warren Buffett-backed BYD Co., the people said…China, the world’s biggest auto market, may end its near-three-decade growth partly because consumers are moving from owning to sharing, according to analysts including Bill Russo, chief executive officer of Shanghai-based advisory firm Automobility Ltd.

 
Reuters India - October 6, 2018
SEOUL (Reuters) - South Korea’s SK Innovation said on Sunday it plans to invest 400 billion won ($354 million) to build a plant for key...
vehicle (EV) market. The plant will make separators for lithium ion batteries and ceramic coating. Construction is expected to begin early

South Korea’s SK Innovation said on Sunday it plans to invest 400 billion won ($354 million) to build a plant for key parts of electric car batteries in China as part of its effort to better compete in the world’s largest electric vehicle (EV) market…The announcement comes a week after SK Innovation, which owns South Korea’s top refiner and a unit of the country’s No.3 conglomerate, said it is considering building an electric vehicle battery plant in the United States…In August, the firm said it planned to build an electric vehicle battery factory in China by 2019, under a joint venture with BAIC Motor and Beijing Electronics. It is also building a battery plant in Hungary.

 
Aerospace Manufacturing - October 9, 2018
Carmelo Lo Faro, president, Solvay Composite Materials, discusses the company’s established involvement in the aerospace sector.
the domain of independent start-ups and small firms, electric vehicles have recently seen the bigger companies also take an interest. For

Since the financial crisis of 2009, aerospace has been one of the few global industries seemingly resilient to economic cycles. This is in part down to globalisation; business is increasingly conducted internationally and so there has been a need for more and more air travel. The demand for fuel-efficient aircraft was the advent of an unprecedented build-up in the civil transport manufacturing backlog…We’re seeing a lot more interest in, and developments around, electrification. Composites will be critical in enabling electric planes to fly, offering the required lightweighting…What was once exclusively the domain of independent start-ups and small firms, electric vehicles have recently seen the bigger companies also take an interest. For example, Boeing is backing a start-up planning to develop electric jets, which is targeting a 2022 lift off.

 
 
fortuneminerals
For further information about the NICO Project and its Mineral Reserves, please refer to the Technical Report on the Feasibility Study for NICO, entitled "Technical Report on the Feasibility Study for the NICO-Gold-Cobalt-Bismuth-Copper Project, Northwest Territories, Canada", dated April 2, 2014 and prepared by Micon, which has been filed on SEDAR and is available under the Company's profile at www.sedar.com.

DISCLAIMER

Fortune Minerals Limited does not endorse or guarantee the accuracy or completeness of any third party publication regarding the Company and accepts no liability for any direct or consequential losses arising from its use. The information contained in third party publications is subject to verification by the user and Fortune is under no obligation to provide, or comment upon, such publications. This communication is not, and under no circumstances is to be construed as, an offer to sell or a solicitation to buy any securities. Any decision to invest in securities in the secondary market or otherwise should only be made after consulting the investor’s own investment, legal, accounting and tax advisors in order to make an informed determination of the suitability and consequences of such investment.

CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION

The materials appearing in this email contain forward-looking information. This forward-looking information includes, or may be based upon, estimates, forecasts, and statements as to management’s expectations with respect to, among other things, the size and quality of the Company’s mineral resources, progress in permitting and development of mineral properties, timing and cost for placing the Company’s mineral projects into production, costs of production, amount and quality of metal products recoverable from the Company’s mineral resources, anticipated revenues, earnings and cash flows from the Company's mineral projects, demand and market outlook for metals and coal and future metal and coal prices. Forward-looking information is based on the opinions and estimates of management at the date the information is given, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include the inherent risks involved in the exploration and development of mineral properties, uncertainties with respect to the receipt or timing of required permits and regulatory approvals, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal and coal prices, the possibility of project cost overruns or unanticipated costs and expenses, the possibility that production from the Company's mineral projects may be less than anticipated, uncertainties relating to the availability and costs of financing needed in the future, uncertainties related to metal recoveries and other factors. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that mineral resources will be converted into mineral reserves. Readers are cautioned to not place undue reliance on forward-looking information because it is possible that predictions, forecasts, projections and other forms of forward-looking information will not be achieved by the Company. The forward-looking information contained herein is made as of the date hereof and the Company assumes no responsibility to update them or revise it to reflect new events or circumstances, except as required by law.

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