Click on blue article title to read full story.

Excerpt from Dec 2, 2019 BMO Metals Brief:

China’s industrial sector seems to have turned a corner. China’s Official and Caixin manufacturing PMIs were both in expansionary territory for the first time since April, with the latter edging up to a near three-year high. The Official NBS figure rose to 50.2 in November, up from 49.3 in October, as output increased the most in 8 months (52.6 vs 50.8 in October), while domestic new orders were also strong (51.3 vs 49.6). New export orders remained below 50, but it was the highest figure since April (48.8 vs 47.0). Business expectations remain strong (54.9 vs 54.2). Interestingly, the construction sub-index of non-manufacturing PMIs shows new business vastly improving in November (56.0 vs 54.8) and some of that optimism may have filtered through to the manufacturing sector. The Caixin manufacturing PMI hit 51.8 in November, up from 51.7 last month, the fourth straight month of growth in factory activity, as both output and new orders grew, while surprisingly new export orders also saw the first back-to-back monthly rise in over 18 months.

Metal Bulletin - November 29, 2019
An overview of the battery raw materials markets and their latest price moves from the past week.
BATTERY RAW MATERIALS MARKET REPORT 29/11: Cobalt sulfate discount narrows, hydroxide prices fall

Cobalt standard grade, in-whs Rotterdam, $/lb; 29/11/2019; US$15.75-$16.30/lb

Financial Times - December 1, 2019
Glencore’s African copper business will be in the spotlight when the miner and commodity trader holds is annual investor briefing on...

In response it has set out a detailed turnround plan for Katanga — its biggest mine in the DRC — and said production at Mutanda — its other asset in the central Africa country — will be suspended for at least two years…Copper and its byproduct cobalt will be crucial to the electrification of cars and cities, according to analysts...Under the turnround plan for Katanga, Glencore is aiming to increase production of copper and cobalt from 235,000 tonnes and 12,000 tonnes respectively in 2019 to 290,000 and 36,000 tonnes in 2021.

Unknown - December 2, 2019
(Reuters) - Australia’s Blackstone Minerals Ltd on Monday said it signed a non-binding joint venture agreement with South Korea’s Ecopro BM Co to develop nickel, cobalt or other minerals for battery manufacturing.

The Western Australia-based firm said Ecopro BM, South Korea’s largest electric vehicle battery cathode producer, will develop a downstream processing facility with Blackstone’s Ta Khoa Nickel Project in Vietnam…Australia has billed itself as a key supplier for minerals critical to future industries like EVs and green power, but developers hoping to move into battery chemicals production have struggled to secure project finance.

EVs & Energy Storage
Reuters US News - November 29, 2019
FRANKFURT (Reuters) - Daimler said on Friday it will cut at least 10,000 jobs worldwide over the next three years, following others in the industry as they cut costs to invest in electric vehicles while grappling with weakening sales. FILE PHOTO: The Daimler logo is seen before the Daimler annual

Daimler said on Friday it will cut at least 10,000 jobs worldwide over the next three years, following others in the industry as they cut costs to invest in electric vehicles while grappling with weakening sales…It marks the third announcement on cost cuts this week by a major German car company as automakers seek to fund huge investments into cleaner and self-driving technologies while demand in China, their biggest market, is falling and a trade war between Washington and Beijing is curbing economic growth…“The automotive industry is in the middle of the biggest transformation in its history,” Daimler said in a statement…The announcement comes days after Volkswagen’s luxury car unit Audi said it would cut up to 9,500 jobs or one in ten staff by 2025, freeing up billions of euros to fund its shift toward electric vehicle production…Also this week, BMW said that its management and labor had reached an agreement on measures to reduce bonus and other pay schemes for staff to cut costs…Car suppliers Continental and Osram have also announced staff and cost cuts.

Unknown - December 2, 2019
Plant in Lower Bavaria will be upgraded for pure battery-electric and autonomous models by 2021

The BMW Group is investing around 400 million euros in its Dingolfing vehicle plant for production of the BMW iNEXT. In doing this, it is preparing for the manufacture of pure battery-electric and highly automated BMW cars at its largest European production location…With the launch of the BMW iNEXT in 2021, Plant Dingolfing will be capable of producing the right mix of fully-electric vehicles, plug-in hybrids and models with combustion engines to suit demand on a single assembly line…The BMW iNEXT will become the plant’s first pure battery-electric vehicle from 2021…The BMW iNEXT can also build on many established assembly processes. The new model will be efficiently and flexibly produced on a single line with BMW 5 Series, 7 Series and 8 Series models in one of Dingolfing’s two assembly halls. However, in electrified and highly-automated vehicles like the BMW iNEXT, some work content is distributed differently throughout the manufacturing process than for conventional vehicles. In electric vehicles, certain steps in drive train or assembly installation are omitted, for instance. In other areas, more assembly work is required – for example, installing the battery and corresponding high-voltage cables. Additional sensors, cleaning systems and high-performance computers must also be installed in highly-automated vehicles. Special test stations must therefore be provided to validate these functionalities. 

PressClub Global. - December 2, 2019
BMW Group joins “Getting to Zero Coalition” ahead of the United Nations Climate Change Conference. The objective: decarbonisation of...
currently including 12 models, BMW offers the widest range of electric vehicles in the market. By 2021, one million...

The BMW Group has expanded its commitment towards making transport logistics more sustainable. Ahead of the United Nations Climate Change Conference (COP 25) in Madrid and as part of the Group's commitment to further reduce carbon emissions along the entire value chain, the company has joined the “Getting to Zero Coalition”. The objective of this initiative is to use zero-emission cargo vessels from 2030. The Getting to Zero Coalition is a partnership between the Global Maritime Forum, the Friends of Ocean Action and the World Economic Form…Maritime transport currently accounts for 50 per cent of the BMW Group's transport chain CO2 emissions. 

BNN Bloomberg - December 1, 2019
(Bloomberg) -- Explore what’s moving the global economy in the new season of the Stephanomics podcast. Subscribe via Apple Podcast, Spotify or Pocket Cast. Bank of England Governor Mark Carney has accepted the role of special envoy for climate action and finances, United Nations Secretary General

Bank of England Governor Mark Carney has accepted the role of special envoy for climate action and finances, United Nations Secretary General Antonio Guterres said…Carney has taken a pioneering role pushing the climate issue in the financial sphere, Guterres said at a news conference in Madrid, where the next UN climate change conference kicks off on Monday. He’ll take on his special envoy role with pay of $1 a year after stepping down from the central banker’s job, the Bank of England said in a statement…Carney has been talking about the risks of climate change since at least 2015 when he used a speech at Lloyds of London to warn that the phenomenon imposed “a cost on future generations that the current generation has no direct incentive to fix.” In October, he told the Guardian newspaper that companies and industries that aren’t moving toward zero-carbon emissions will be punished by investors and face bankruptcy.

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


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.


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.