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Cobalt
 
Unknown - December 4, 2018
LONDON (Thomson Reuters Foundation) - Ransom-hungry pirates, polar explorers, offshore oil giants - the race for the riches of the world’s final frontier is on.

As India, China and Brazil seek new sources of cobalt, copper and nickel to build the gadgets demanded by their booming populations, they are preparing to mine a new realm - the dark depths of the ocean… the next decade India will spend more than $1 billion to develop and test deep-sea technologies - including human-piloted exploration submarines - in the Indian Ocean that could give access to once inaccessible mineral riches up to 6.8 miles (11 km) under water…But mining the seas - home to the vast majority of life on Earth - carries huge risks and could cause irreversible damage to the environment, campaigners warn…Experts say oceans are a neglected area of global governance despite the United Nations’ 1982 Convention on the Law of the Sea (UNCLOS) and the 193 member states agreeing in 2015 to a global goal to sustainably manage and protect marine resources…Negotiations on a legally binding treaty – which would cover the high seas, or ocean areas that extend beyond national boundaries capped at 200 nautical miles from coasts – began in September and aim to reach an agreement by 2020…Much of the quest for ocean resources, however, lies not near its surface but in its depths.Technological advances and growing demand for minerals used in consumer electronics have fueled a rush to mine the deep seas…But new technology like autonomous robots and deep-diving submarines could allow scientists to unearth treasures like copper, nickel and cobalt…China, the world’s second-largest economy, is seeking minerals in the eastern Pacific Ocean. And Brazil has won rights to explore the Rio Grande Rise off its southeastern coast, in the southern Atlantic Ocean. “The more (natural) resources are exhausted on the continent, the more interesting marine mining will become,” said Lauro Julio Calliari, an oceanographer at Brazil’s Federal University of Rio Grande do Sul…But, with little of the deep ocean mapped or explored, environmentalists worry about the potential loss of species not yet well understood - or even recorded…In the longer run, disturbing oceans, which absorb carbon dioxide and heat, could affect how they regulate the world’s climate, he added…“We should not rush (deep sea mining). Otherwise we will head towards another disaster,” he said.

 
Reuters US News - December 3, 2018
LONDON (Reuters) - Glencore (GLEN.L) has appointed Peter Freyberg to the newly created role of head of industrial mining, the global trader and miner said on Monday, while its head of copper marketing Telis Mistakidis retires at the end of the year. The London-listed miner said billionaire

In production, copper output in 2019 is projected to reach 1.540 million tonnes from an expected 1.465 million this year. Cobalt output next year is expected to total 57,000 tonnes from a target of 39,000 tonnes in 2018…In Congo, Glencore has this year seen taxes and royalties hiked under a new mining code which also removed a stability agreement.

 
 
EVs & Energy Storage
 
TechCrunch - December 4, 2018
Audi, the Germany luxury automaker under VW Group, said Tuesday it will invest 14 billion euros ($15.95 billion) over the next five years on future transportation technologies such as electric mobility, autonomous driving and digital services. These investments, made through 2023, will include

Audi, the Germany luxury automaker under VW Group, said Tuesday it will invest 14 billion euros ($15.95 billion) over the next five years on future transportation technologies such as electric mobility, autonomous driving and digital services…These investments, made through 2023, will include spending on property, factories and equipment as well as research and development…Back in 2015, then Audi of America president Scott Keogh said that by 2025 at least one quarter of all Audi cars sold in the U.S. will have a plug…The company unveiled in September its first all-electric SUV, the e-tron. By 2025, Audi says it will offer 20 electrified models (that includes hybrids). About 10 of those vehicles will have all-electric drive systems. 

 
Renew Economy - December 2, 2018
A Queensland wind energy project that promises to be one of the biggest in the country – and the biggest in that state, at least for a time – is one step closer to being built after clearing its final planning hurdle. Project developers Lacour Energy said on Monday that the 800MW Clarke Creek Wind

The 195 turbine project won state approval in June, and has also secured approval for the addition of 400MW of large-scale solar and a grid-scale battery system, which would boost costs to $1.5 billion…Director of Lacour Energy, Mark Rayner, said the plan was for the Clarke Creek Integrated Wind, Solar and Battery Power Station to be located at one of the strongest locations of the Queensland power system – with no grid extension required…Lacour said the wind farm, once complete, would generate enough electricity to power around 590,000 Queensland homes, and supply around 4 per cent of the state’s electricity.

 
Electrek - December 3, 2018
With the latest expansion of the Supercharger network, Tesla is starting to finally build its long-awaited Trans-Canada Supercharger route to enable coast-to-coast travel in the great white north. Tesla’s Supercharger network in Canada has been limited to enable travel between a few large

Trans-Canada Highway is a transcontinental federal-provincial highway system that travels through all ten provinces of Canada from the Pacific Ocean on the west to the Atlantic on the east…Now it looks like Tesla is also going to be serving the region as it filed for 3 new permits in Northern Ontario in the last few days and several more along the Trans-Canada Highway over the last month…With a few more locations yet to be finalized, it looks like Tesla owners could relatively soon be able to use the Supercharger network to travel from Vancouver to Halifax and back.

 
 
Congo
 
Reuters US News - December 3, 2018
(Adds details about deal, investor) KINSHASA, Dec 3 (Reuters) - Congo’s Gecamines said on Monday it had signed a production-sharing deal...
. Democratic Republic of Congo is Africa’s top copper producer and the leading miner of cobalt, which is used for electric car batteries.

Congo’s Gecamines said on Monday it had signed a production-sharing deal for copper and cobalt deposits with China’s Hongkong Excellen Mining Investment, which will pay a $40 million signing bonus…Congo’s state mining company said its first production-sharing deal would guarantee it a “significant” share of annual production from the Kingamyambo and Kilamusembo deposits “regardless of the financial results of the project”…Democratic Republic of Congo is Africa’s top copper producer and the leading miner of cobalt, which is used for electric car batteries…Gecamines has said that its joint ventures with international miners such as Glencore and China Molybdenum do not bring enough money into state coffers and is turning instead to production-sharing agreements, which are common in the oil sector…“Production sharing agreements align the interests of the two partners because the risk now weighs more on the investor than on Gecamines,” Gecamines economic adviser Stephane Cormier said in a presentation .

 
Financial Times - December 3, 2018
The Democratic Republic of Congo has declared its huge resources of electric car battery metal cobalt “strategic” and tripled the amount of money international miners need to pay the state for every tonne of metal they sell. The decree, which was promulgated as part of the country’s new mining

The Democratic Republic of Congo has declared its huge resources of electric car battery metal cobalt “strategic” and tripled the amount of money international miners need to pay the state for every tonne of metal they sell…The DRC is the world’s largest source of cobalt, a critical ingredient for lithium-ion batteries used in electric cars…While carmakers are trying to reduce the amount of cobalt they use in every electric car battery, demand for the metal is still expected to surge over the next decade due to rising sales. Cobalt prices have more than doubled since the beginning of 2017 to trade at $33.5 a pound, according to Fastmarkets. 

 
Bloomberg - December 3, 2018
Probe follows detection of uranium in cobalt shipments Government experts expected to conclude investigation Dec. 6

The probe places a further strain on relations between the commodity trader and Congo’s government frayed earlier this year by the introduction of a new law that raised costs for miners. It follows criticism by state officials of Katanga Mining Ltd.’s “unilateral” decision last month to suspend sales from its Kamoto Copper Co. mine, or KCC, after the company detected excessive levels of uranium in processed cobalt…KCC resumed production last December after a two-year hiatus during which it invested in new processing facilities. The company is set to produce as much as 300,000 metric tons of copper and 34,000 tons of cobalt in 2019, which would make it Congo’s biggest copper mine and the world’s largest producer of cobalt. Katanga plans to install an ion-exchange system to remove uranium from cobalt processed at Kamoto and had intended to not restart sales before late next year. On Monday, the company said it will work with Gecamines to “look at various alternative interim solutions, both operational and regulatory, to recommence exports.”

 
The Washington Post - December 4, 2018
The Democratic Republic of Congo, sub-Saharan Africa’s biggest country, has never witnessed a peaceful transfer of power. Joseph Kabila...
million, accounts for two-thirds of global production of cobalt, a metal used in rechargeable batteries, and has deposits of gold, diamonds,

The Democratic Republic of Congo, sub-Saharan Africa’s biggest country, has never witnessed a peaceful transfer of power…The vote was initially supposed to be in late 2016…The ruling Common Front for Congo coalition then chose Emmanuel Ramazani Shadary, the permanent secretary of Kabila’s People’s Party for Reconstruction and Democracy and a former interior minister, as its candidate. He’s one of 15 Congolese officials sanctioned by the European Union since December 2016 for allegedly undermining democracy and abusing human rights…Congo refused foreign assistance to organize the elections and imported more than 100,000 voting machines from South Korea that’ll print each voter’s choice on the ballot papers. While the electoral commission says the devices will help ensure the results aren’t cooked, the opposition has described them as rigging machines. The opposition also alleges that the electoral register contains millions of “fictitious” names. London-based Global Witness and the Senegal-based Platform to Protect Whistleblowers in Africa have raised concerns that state funds may be used to finance Shadary’s election bid…Congo, a nation of about 81 million, accounts for two-thirds of global production of cobalt, a metal used in rechargeable batteries

 
Unknown - December 4, 2018
(AFP) - Clashes between the army and rebels loyal to a renegade former general in eastern DR Congo have killed 18 people, military sources said Monday, in the latest violence before crucial elections to replace President Joseph Kabila this month.

Violence in the troubled eastern region is just one complication before December 23 elections in DR Congo, which has not seen a peaceful transfer of power since independence from colonial Belgium in 1960…The eastern clashes pit the military against rebels loyal to a former army general, William Amuri Yakutumba, whose militia is one of the armed groups operating in the region against Kabila…Western powers are closely watching the presidential election in the vast mineral-wealthy nation, where a UN peace-keeping force, now with 16,000 troops on the ground, has been operating for two decades…Meanwhile, a source at Tshisekedi's UDPS party said police had encircled its headquarters in Mbuji Mayi from Sunday night to Monday morning, and detained supporters over the weekend…"Around 20 of our activists were arrested on Saturday and are still in police custody. One of our parliamentary candidates is still reported missing," regional UDPS representative Denis Kalombo told AFP.

 
 
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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