fortuneminerals
Click on the blue article title to read full story.
 
Cobalt
 
Unknown - November 8, 2018
News that Glencore's Katanga Mining will suspend exports and sales of cobalt from Kamoto in the Democratic Republic of Congo (DRC) has lent some optimism to 2019 contract negotiations

"[The announcement] comes at the right time and puts a bit of a squeeze on," a trader said…Benchmark low-grade cobalt prices assessed by Fastmarkets MB did not react to the Katanga news on Wednesday November 7, holding at $33.50-34.45 per lb..Katanga had been ramping up to produce 34,000 tpy of cobalt in the 2019 fiscal year, contributing to the forecast oversupply of hydroxide next year…"Given Katanga is a major part of the supply response, [especially as ERG's RTR is only just ramping up], the suspension could have an impact on the supply-demand balance, especially if the solution to the issue is going to take 4-6 months to build," said Will Adams, Fastmarkets MB's head of battery raw materials research…"Our supply-demand balance was for an 1,860-tonne supply surplus this year and a 6,700-tonne surplus next year. With Katanga ramping up to produce around 1,600 tonnes per month, any prolonged export disruption could have a significant impact on the balance, which we would expect to lead to a price rebound," Adams said.

 
Morningstar - November 7, 2018
Sherritt Publishes Cobalt Reference Price and Warrant Conversion Ratio for November 2018 NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE...
world leader in the mining and refining of nickel and cobalt from lateritic ores, today published the Applicable Reference Cobalt Price and

Sherritt International Corporation…today published the Applicable Reference Cobalt Price and Applicable Common Shares per Warrant Ratio for the three-month period ended October 31, 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: October 31, 2018. Applicable Reference Cobalt Price: US$33.90. 

 
Financial Times - November 7, 2018
Shares in cobalt producers rallied on Wednesday following news that Glencore, the world’s largest producer, had halted sales at its mine in...

Cobalt is a key metal for electric car batteries and demand is expected to double by 2025, according to Wood Mackenzie…But cobalt prices have fallen by around 11 per cent this year on the expectation of greater supply from the DRC, especially from Glencore…“Katanga’s Kamoto mine in the DRC is one of the largest producers of cobalt, accounting for around 25 per cent of global supply this year. It was expected to ramp up to produce 34,000 tonnes of cobalt next year, making it the single largest producer in the world…Shares in Fortune Minerals, which is developing a cobalt and gold project in Canada’s Northwest Territories, rose by 21 per cent to 12 Canadian cents. 

 
 
EVs
 
The Japan News - November 8, 2018
By Koichi Kuranuki / Yomiuri Shimbun Senior WriterThe automobile industry is entering a once-in-a-century phase of monumental change. In...
be Connected (to the internet), Autonomous, Shared and Electric. Vehicles will exchange data on road conditions among other things via the

The automobile industry is entering a once-in-a-century phase of monumental change. In addition to alliances between manufacturers, the Economy, Trade and Industry Ministry is partnering with Germany in an effort to establish an international standard for future automobiles…The acronym CASE is being used to describe the next generation of automobiles — which will be Connected (to the internet), Autonomous, Shared and Electric…According to SC-ABeam Automotive Consulting, the percentage of electric cars in use around the world is expected to be about 4 percent in 2020, rise to about 13 percent by 2030 and exceed 50 percent in 2050…In October, Toyota and SoftBank Group Corp. announced a joint venture for next-generation mobility services. Honda Motor Co. has also partnered with General Motors Co. to develop self-driving vehicles. Across industry and national boundaries, a succession of alliances is being formed…In concert with efforts in the private sector, the Economy, Trade and Industry Ministry has been exploring measures to ensure the survival of the domestic automotive industry as a key pillar of the Japanese economy…If the goal is realized, Japanese and German automobile and parts manufacturers would share data on the performance and specification of parts for self-driving vehicles, as well as basic design and development methods…Conventional gasoline-powered automobiles can have about 30,000 parts, while electric vehicles have far fewer, at around 10,000, making survival in the parts industry a difficult prospect… “Japan would not be able to compete” with parts manufacturers emerging in the gigantic Chinese market, he said, reflecting the sense of urgency.

 
NHK WORLD English - November 8, 2018
Struggling Japanese conglomerate Toshiba says it will cut 7,000 jobs as it restructures its worldwide business over the next 5 years....
D spending in the period. It will target sectors such as lithium-ion batteries and renewable energy. The company will liquidate its nuclear

Toshiba plans 1.7 trillion yen, or 15 billion dollars, in capital investment and R&D spending in the period. It will target sectors such as lithium-ion batteries and renewable energy…The company will liquidate its nuclear power-related subsidiary in Britain and withdraw from liquefied natural gas operations in the US…As part of the turnaround plan, Toshiba sold its prized memory-chip unit earlier this year.

 
Argus Media - November 8, 2018
<article><p class="lead">Japanese electronics firm Toshiba is planning to expand its share of the global battery...
to grow its lithium-ion battery business to ¥400bn ($3.5bn) by 2030. The company expects the global size of the rechargeable battery

Japanese electronics firm Toshiba is planning to expand its share of the global battery market, tapping the growing shift to electronic vehicles (EVs) from vehicles running on fossil fuels...Toshiba plans to invest ¥16.2bn in building a new lithium-ion battery production plant at Yokohama in Kanagawa prefecture, west of Tokyo, to meet growing demand. The construction is scheduled to begin in July next year, targeting commissioning in October 2020…Toshiba also plans to increase output capacity at its existing Kashiwazaki plant in Niigata prefecture, as well as expanding capacity in India and the US, although details are undisclosed...Japan has a target to sell only EVs by the end of 2050, in efforts to reduce greenhouse gas emissions from passenger cars by 90pc per vehicle. Such EVs include battery electric vehicles, plug-in hybrid EVs, hybrid EVs and fuel cell EVs.

 
Reuters Africa - November 8, 2018
TOKYO, Nov 8 (Reuters) - Japan’s Sumitomo Metal Mining Co Ltd posted a 52 percent jump in half-yearly pre-tax profit on Thursday but cut...
boost capacity of the nickel-cobalt-aluminium (NCA) cathode materials used in Panasonic Corp’s lithium-ion battery that powers Tesla Inc’s

Sumitomo Metal has made a series of investments over the past four years to boost capacity of the nickel-cobalt-aluminium (NCA) cathode materials used in Panasonic Corp’s lithium-ion battery that powers Tesla Inc’s Model 3 and Model X.

 
CBC News - Canada - November 8, 2018
, the price of North American electric cars has so far been a barrier to sales. Don Pittis: Thanks to Tesla, electric car in passing lane to

The Chinese are coming. After years of predictions that made-in-China electric-car technology was poised to dominate the global market, the country's battery-powered cars will be driving on Canadian streets in a few months' time…But that's not the reason you won't be able to get your hands on a car built by Chinese automaker BYD — the company best known in investment circles for its famous North American shareholder, Warren Buffet, who, along with his Berkshire Hathaway holding company, is BYD's biggest private-sector investor…It's because the car in question — the BYD E6, pictured above — is currently being adapted to Canadian safety and charging standards…While we have yet to see its vehicles on North American lots, China is on its way to becoming the Detroit of the battery-powered automobile industry, according to engineer and electric car expert Matthew Klippenstein…In addition to supplying its own enormous domestic market, Chinese electric cars are about to spread around the world…And just as North American carmakers were caught unprepared, losing out to Japanese and European brands when the oil crisis of the 1970s led a rush to smaller, cheaper cars, Klippenstein says there is a danger of history repeating itself with electrics…The quality of some Chinese-produced batteries has been roundly criticized in recent years. And Klippenstein says the safety standards of many Chinese-made cars may not yet be up to European and North American standards…Still, their lower cost has already given them an advantage in developing markets, including Indonesia and Brazil, he says, at price levels where North American and European manufacturers have trouble competing…Canadians may right now scoff at Chinese manufacturing quality — but we also scoffed at the quality of the first Korean car sold in this country: the Pony…That was quick to change as Hyundai proved itself by improving quality while keeping costs low. And older Canadians will remember a time when "Made in Japan" was not the recommendation it often is today…You may already be driving a car containing Chinese technology without even realizing it, according to David Adams, president of the Global Automakers of Canada…"That's what's happening with a lot of the Volvos that are being made in China right now and being put into the Canadian market," said Adams…Volvo, the Swedish brand that is widely known for its safety, has been owned by Chinese car company Geely since 2010. To maintain quality in the luxury marque, Geely is using Korean-designed LG batteries made in China…But BYD is expanding its footprint here. The company already has contracts to sell its all-electric buses in several places in Canada, including to the Toronto Transit Commission and to a Vancouver-based sightseeing operation…As for the BYD vehicles heading to Montreal, Dowling calls it "the best-selling electric taxi in the world."

 
Food & Drink - MSN UK - November 8, 2018
© Provided by Dezeen Limited Uniti One electric car by Uniti Swedish automotive start-up Uniti's first vehicle launch will be an...
Uniti One electric car by Uniti Swedish automotive start-up Uniti's first vehicle launch will be an "affordable" and fully electric car,

Uniti One electric car by UnitiSwedish automotive start-up Uniti's first vehicle launch will be an "affordable" and fully electric car, which is scheduled to go into production in the UK by 2020…The vehicle, called Uniti One, has a host of innovative features including a connective and intuitive user interface, and will have high energy efficiency, with a 22 kilowatt hour battery that is estimated to power the vehicle for up to 186 miles (300 kilometres) on one charge…The cars will be built at a facility Silverstone, which will be Uniti's first production site in the world, and the first fully-digital electric vehicle production site in the UK…The fully electric car will produce at least 75 per cent less carbon – from manufacture to disposal – than ordinary cars, according to the manufacturer…In a bid to further lessen its environmental impact, it will be made from recyclable carbon fibre and organic composite materials…Uniti will offer a line of two, four and five-seater vehicle models. The car also boasts two available steering options, one traditional and another central pivot joystick control system, which is unique to Uniti…The company plans to reveal its production models in late 2019, with the Uniti One set to go on sale shortly after in late 2020.

 
Engadget - November 8, 2018
It plans to expand Spin's services to 100 cities, starting with Detroit.

Turns out those rumours about Ford buying e-scooter startup Spin were true. The auto-maker has confirmed the purchase as it looks beyond car ownership to emerging modes of transport…Spin -- which started as a dockless bike-sharing company before applying the same model to e-scooters -- currently operates in 13 cities and campuses across the US, said Ford (it's still locked out of San Francisco, however). The startup charges $1 to rent a scooter and 15 cents per minute thereafter to use it…In a blog post, the startup said it will continue to operate as a standalone business within Ford's Smart Mobility division. It's also immediately "scaling up" its team of engineers, designers, urban planners, policy makers, lawyers, and operators.

 
 
Congo
 
AllAfrica.com - November 7, 2018
Journalist in Danger (JED), the partner organization of Reporters Without Borders (RSF) in the Democratic Republic of Congo, has just...
Republic of Congo, has just released an alarming report about press freedom in the DRC during the past 12 months. Entitled "Journalists and media under pressure: dangerous

Journalist in Danger (JED), the partner organization of Reporters Without Borders (RSF) in the Democratic Republic of Congo, has just released an alarming report about press freedom in the DRC during the past 12 months. Entitled "Journalists and media under pressure: dangerous elections," it has been published six weeks before a fraught presidential election that was delayed for two years…These acts of harassment against journalists and media outlets are not isolated. On the contrary, they are "part of a planned system of repression designed to silence or remove all those who annoy the regime because they do not hold the same views as its leaders," JED says…RSF shares JED's concern about the harassment of journalists and closure of opposition media outlets in the run-up to the presidential election scheduled for 23 December…The Internet is meanwhile routinely disconnected before and during any major demonstration by civil society groups or government opponents.

 
 
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.

Meltwater - 225 Bush St Suite 1000, San Francisco, California 94104 USA

To unsubscribe from this newsletter Click Here