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Those who control these critical raw materials and those who possess the manufacturing and processing know how, will hold the balance of industrial power in the 21st century auto and energy storage industries.” – Simon Moores, Managing Director, Benchmark Mineral Intelligence Testimony for the US Senate Committee on Energy and Natural Resources - Feb 2019

Bloomberg - July 18, 2019
China Nonferrous Metal among firms interested in the assets Deliberations at an early stage, ERG may decide against sale
glut and declining prices. Congo produced 72% of the world’s supply of cobalt last year. Read more about cobalt mining in the DRC here. The

Eurasian Resources Group Sarl, the mining firm backed by the Kazakhstan government, is exploring options for assets in the Democratic Republic of Congo including a potential sale, according to people with knowledge of the matter…China Nonferrous Metal Mining (Group) Co. is among companies interested in the assets…ERG, which mines copper and cobalt in DRC, has been reviewing its investments and has already sold assets valued at about $1 billion, according to its website. The company is a major producer of cobalt, a material used in rechargeable batteries powering iPhones and Tesla cars, though it’s had to grapple with a supply glut and declining prices. Congo produced 72% of the world’s supply of cobalt last year.

Unknown - July 19, 2019
Mayer Brown’s global mining head Ian R. Coles on strategic issues related to battery metals The winning battery/EV technology is not yet determined, but lithium and cobalt will be key components

The push towards EVs is gathering momentum…Both EVs and batteries need metal, lots of it and of multiple types. The winning battery technology is not yet determined, but lithium and cobalt will be key componentsCobalt production presents an even greater challenge. Current production levels - as well as reserves - are dominated by one country, the Democratic Republic of the Congo. The DRC currently accounts for something in the region of 60% of global production. By way of illustration, on the latest available figures, the DRC produced 90,000 metric tonnes of cobalt in 2018. Russia was the second most productive country with 5,900 metric tonnes…According to the latest US Geological Survey statistics, the DRC possesses almost 50% of accessible reserves, so the supply situation is not going to change in a hurry. Because of its well-documented issues with child labour, sudden changes in mining taxation and other issues, the DRC presents a challenge to those looking for ethically sourced minerals. With the exception of production from Morocco, as well as artisanal mining, cobalt is only mined as a by-product of copper and nickel projects. However, cobalt only accounts for a negligible amount of the nickel or copper content. As a result, it is difficult to source financing for projects based on cobalt prices alone…The supply chain for each of these metals will become increasingly critical. Chinese companies in particular have been highly acquisitive…On June 4, the urgency of the situation was underscored when the Commerce Department released "A Federal Strategy to Ensure Secure and Reliable Supplies of Critical Minerals".  

EVs & Energy Storage
FreightWaves - July 18, 2019
Volvo Group (NASDAQ:VLVLY) and Samsung SDI Co. Ltd. (KSE:006400) will jointly develop batteries for Volvo’s electric trucks. The strategic...
help assure Volvo has both the raw materials like cobalt and lithium, as well as battery cell and production capacity to support its growth

The strategic alliance announced Thursday, July 18 could help assure Volvo has both the raw materials like cobalt and lithium, as well as battery cell and production capacity to support its growth plans for battery-electric trucks…“The alliance with Samsung SDI is an important next step on our journey towards offering the world’s most truly sustainable transport system with fossil-free alternatives for our commercial vehicles,” stated Martin Lundstedt, Volvo Group CEO…Samsung will provide battery cells and packs directly to Volvo manufacturing plants, Lundstedt said…“Rather than just buying some off-the-shelf cells, they are working with Samsung to optimize the chemistry and packaging. Volvo is going to specify what they need,” said Sam Abuelsamid, principal analyst with Navigant Research…Assuring sufficient raw materials and manufacturing capacity is critical in reaching a deal, because most OEMs do not make their own cells or battery packs…“Most likely, Samsung gave them guarantees,” Abuelsamid said.

BNN Bloomberg - July 19, 2019
manufacturer. The two companies will work together on electric sedans and sports-utility vehicles with the goal of introducing them during

Global carmakers are striking EV deals with Chines partners…The two companies will work together on electric sedans and sports-utility vehicles with the goal of introducing them during 2020 to 2025, they said in a statement Friday. The partnership also includes the development of batteries for the vehicles, they said…The carmaker is seeking to narrow the gap with rivals including Volkswagen AG and General Motors Co. in the next decade, which has fueled a global race among them to secure battery supplies…After years of focusing on hybrid and fuel-cell technology, Toyota is embracing all-electric cars. The maker of the Prius is now forecasting annual sales of 5.5 million EVs globally in 2025, after moving up its prior target by five years.

Reuters UK - July 19, 2019
FILE PHOTO: A Toyota logo is displayed at the 89th Geneva International Motor Show in Geneva, Switzerland, March 5, 2019. REUTERS/Denis...
/File Photo TOKYO (Reuters) - Toyota Motor said it would develop battery electric vehicles (EVs) and batteries with BYD Co Ltd, in a sign it

In a joint statement, Toyota and the Chinese electric automaker said on Friday that they would develop sedans and sport utility vehicles, which would then be sold under the Toyota brand in China before 2025…Toyota had flagged in June that it aimed to get half of its global sales from EVs, including gasoline hybrids, by 2025, five years ahead of schedule…But to meet this accelerated timeline, Toyota, Japan’s top automaker, would need more-than-expected batteries, prompting it to look beyond Panasonic Corp, its long-time partner in battery development, to secure supply…These measures come amid a breakneck growth in the zero-emission vehicle market, with tighter global emissions regulations expected to shift even more drivers away from gasoline engine vehicles in the coming decades.

BNN Bloomberg - July 19, 2019
investments that global carmakers have pledged to plow into Indonesia’s electric-vehicle program in the next five years, Industry Minister

Toyota Motor Corp. will lead 50 trillion rupiah ($3.6 billion) in investments that global carmakers have pledged to plow into Indonesia’s electric-vehicle program in the next five years, Industry Minister Airlangga Hartarto said…The Japanese carmaker’s commitment -- it plans to spend $2 billion to build hybrid vehicle plants in Southeast Asia’s largest car market…Hyundai Motor Co. plans to start producing conventional and electric cars in 2021…The investment pledges will help Southeast Asia’s biggest economy ensure that electric cars constitute a quarter of its total production, equivalent to about 750,000 units annually, by 2030. Indonesia is relying on its abundant nickel reserves -- a key ingredient for making batteries…A $4 billion lithium-ion battery manufacturing facility expected to be completed in 2020, will further improve the country’s attractiveness as nickel output rises, according to a July 12 Fitch Solutions report. State-owned PT Pertamina also plans to start producing batteries for vehicles.

Reuters India - July 19, 2019
FRANKFURT (Reuters) - BMW named Oliver Zipse as its new chief executive late on Thursday, praising his “decisive” qualities after the...
up rival Tesla in the segment of premium electric cars. BMW had an early lead in premium electric vehicles but throttled back its ambitions

Hailing Zipse’s “decisive” leadership style, BMW hopes the 55-year-old can help the company regain its edge in electric cars and win back the premium market lead lost to Mercedes-Benz under his consensus-seeking predecessor…BMW had an early lead in premium electric vehicles but throttled back its ambitions after the i3, an expensive city car, failed to sell in large numbers, allowing Tesla to overtake BMW in electric car sales…Krueger’s reluctance to push low-margin electric vehicles led to an exodus of talented electric vehicle experts, including Christian Senger, now Volkswagen’s board member responsible for software, and Markus Duesmann, who is seen as a future Audi CEO…Duesmann and Senger were poached by Volkswagen (VW)…At VW, Diess has since pushed through a radical 80 billion euro ($90 billion) electric car mass production strategy and a sweeping alliance with Ford…Experts say auto industry leaders need a range of skills for the new era of software-driven electric and driverless cars… “Tesla has a lead of three to four years in areas like software and electronics. The millennials are much more focused on these things. There is a risk that the Germans can’t catch up,” UBS analyst Patrick Hummel said…“Production expertise is important, but if you want to avoid ending up being a hardware provider for Google or Apple, you need to have the ability to move up the food chain into data and software,” a former BMW board member said, declining to be identified.

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


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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.