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Cobalt
 
Department of Foreign Affairs, Trade and Development - January 9, 2020
Canada and the United States share a mutual interest in improving critical mineral security and ensuring the future competitiveness of Canadian and U.S. minerals industries.

Today, Canada and the U.S. announced they have finalized the Canada–U.S. Joint Action Plan on Critical Minerals Collaboration, advancing our mutual interest in securing supply chains for the critical minerals needed for important manufacturing sectors, including communication technology, aerospace and defence, and clean technology. This announcement delivers on the June 2019 commitment by the Prime Minister of Canada and the President of the United States…This Action Plan will promote joint initiatives, including research and development cooperation, supply chain modelling and increased support for industry.

 
The World Economic Forum - January 10, 2020
The thirst for green batteries is fuelling exploition in countries like the DRC. Exploitation is deeply rooted in the cobalt...
companies “respect human rights and avoid contributing to conflict through their mineral sourcing practices”. Improving...

The truth of the matter is that it won’t be possible to source a “clean” supply of cobalt from the DRC unless there is a functioning justice system in cobalt-rich provinces that regularly inspects workplaces, rescues children and adults from forced labour slavery as well as reliably prosecutes mine managers, owners and buyers who violate the law and abuse child and adult workers…Major corporations, UN agencies, NGOs and foreign government donors should collaborate with the DRC to make it a reality. The OECD guidance on responsible mineral supply chains were created to help companies “respect human rights and avoid contributing to conflict through their mineral sourcing practices”…The Global Battery Alliance's new guiding principles are designed to help effect major change. But for this commitment to improve the lives of tens of thousands of children, men and women who mine cobalt in the DRC, investments must include resourcing local justice officials to provide protection from exploitation and abuse. Independent human rights monitoring within and between the various cobalt concessions by respected and experienced investigators is recommended…The Global Battery Alliance can support vulnerable children and adults in the cobalt sector by helping the Congolese government to provide access to justice services for victims of abuse. The sector should strengthen non-governmental organizations, like the Good Shepherd Sisters, who are feeding, educating and sheltering hundreds of children in the sector.

 
Metal Bulletin - January 9, 2020
Trader and consumer restocking sent prices for cobalt metal higher on Wednesday January 8, with firmer Chinese equity markets, salts prices...
Trader and consumer restocking sent prices for cobalt metal higher on Wednesday January 8, with firmer Chinese equity...

Fastmarkets assessed the price for cobalt standard grade, in-whs Rotterdam at $15.55-16.50 per lb on Wednesday, up 2.4% from Friday…The cobalt alloy-grade, in-whs Rotterdam price was marginally higher at $15.85-16.55 per lb on the same day, up from $15.80-16.45 per lb at the end of last week…For much of the past 18 months, cobalt buyers have bought no more than their minimum required tonnages out of fear of being caught with substantial inventories and high-priced stocks should prices take a turn lower. There has long been an expectation that consumers are working with low inventories and would have to return to the spot market for January and February deliveries once year-end stock management activities were complete…In turn, market participants expect cobalt metal has limited scope to trade below $15 per lb based on current fundamentals, creating an appealing buying opportunity.

 
Reuters - January 10, 2020
Base metals trading volumes shrank on all three major global exchanges last year as trade war uncertainty and range-bound markets dampened speculative activity.

…Not all new products flourish and the LME's new cobalt and molybdenum contracts failed to get any traction last year….The lack of interest in the new cash-settled cobalt contract is puzzling, given the steady decline in activity in the older physically deliverable contract, which saw volumes slump by 26% last year. It's not as if cobalt hasn't been volatile or that carmakers haven't expressed support for a way of hedging a key input into electric batteries. 

 
 
EVs & Energy Storage
 
Reuters US News - January 9, 2020

South Korea’s SK Innovation Co Ltd plans to build a second electric vehicle (EV) battery plant in the United States and is considering expanding another factory in Hungary to meet soaring demand for EV cells, its chief executive told Reuters…Kim Jun also said he expects more Asian manufacturers to make batteries in the United States instead of importing them to avoid tariffs and meet demand from U.S. automakers locally…The investment comes as automakers race to adapt to increasingly stringent regulatory requirements globally aimed at reducing carbon dioxide emissions…The second, 10 GWh plant would require about $1 billion as capacity of 1 GWh needs $100 million, a person with familiar with the matter said. The final figure will be subject to board approval in the first half of 2020, the person told Reuters…In Hungary, SK Innovation is considering expanding its second plant - currently under construction - to 16 GWh from 10 GWh to boost supply to Volkswagen, Kim said, adding the firm is in talks with the automaker to turn it into a joint venture…Volkswagen told Reuters its battery demand has exceeded 300 GWh a year in Europe and Asia and that it is discussing options with various partners…The plans are aimed at helping the firm cope with a surge in battery orders, at 500 GWh by 2019-end from 320 GWh a year earlier…Kim expects EVs to make up over 10% of global car sales in 2025 and nearly 20% in 2030, when SK Innovation’s capacity would be about 200 GWh.

 
Argus Media - January 9, 2020

South Korea's government forecasts the country having more than 200,000 electric and hydrogen vehicles on its...

process 1,000 used EV batteries each year, extracting cobalt, manganese, nickel and other metals that will be sold to...

South Korea's government forecasts the country having more than 200,000 electric and hydrogen vehicles on its roads by the end of this year amid increased public incentives…A projected 94,430 electric vehicles (EVs) and hydrogen cars will be added in 2020, equivalent to 84pc of the 113,000 added over 2012-19, according to the country's environment ministry. This year's additions are expected to include 65,000 regular EVs, 11,000 two-wheeled EVs, 7,500 electric delivery trucks and 650 electric buses…Seoul has budgeted 1.1 trillion won ($946.5mn) for EV and hydrogen subsidies and charging infrastructure this year, including purchase incentives for 65,000 regular EVs, up from 42,000 in 2019. It aims to boost sales of electric and hydrogen vehicles to 33pc of all cars sold in the country by 2030, up from about 2.6pc last year…The transition to EVs boosts demand for cobalt, lithium and other materials used to make batteries, with South Korea having several ventures under way to recycle used battery packs. 

 
Green Fleet Magazine - January 9, 2020
Mack Trucks pulled back the curtain Jan. 9 on the first working Mack LR Electric, a fully electric version of the LR refuse model first...
-lb. rear axles. The truck features four NMC lithium-ion batteries (Lithium Nickel Manganese Cobalt Oxide) that are...

Mack Trucks pulled back the curtain Jan. 9 on the first working Mack LR Electric, a fully electric version of the LR refuse model first revealed in May 2019. The truck will be delivered to the New York City Department of Sanitation's Brooklyn North 1 garage before the end of January, where it will undergo real-world testing and evaluation on several selected collection routes. Validation testing is scheduled to begin in in the second quarter…“New York City has a goal to reduce our greenhouse gas emissions 80% by the year 2035," said Rocky DiRico, DSNY deputy commissioner. "DSNY along with our more than 6,000 vehicles will play a major role as we push toward that goal."…Powered by Mack’s integrated electric powertrain, the Mack LR Electric features two 130-kW motors that deliver a combined 496 peak horsepower and 4,051 lb.-ft. of torque available from zero rpm…The truck features four NMC lithium-ion batteries (Lithium Nickel Manganese Cobalt Oxide)…

 
Automotive News Europe - January 10, 2020
NEW YORK -- Fiat Chrysler Automobile's deal to pool its fleet with Tesla to comply with stricter emissions rules in Europe is in effect...
to comply with stricter emissions rules in Europe is in effect funding the electric-car maker's upcoming Germany factory,...

Fiat Chrysler Automobile's deal to pool its fleet with Tesla to comply with stricter emissions rules in Europe is in effect funding the electric-car maker's upcoming Germany factory, according to a U.S. investment bank…FCA reached an agreement with Tesla last spring that could cost FCA an estimated 1.8 billion ($2 billion) through 2023. That breaks out to about $150 million to $200 million per quarter and will pad Tesla's profit margins starting in the first three months of this year, according to Ben Kallo, a Robert W. Baird & Co. analyst…"While we acknowledge investors may want to strip out credits in evaluating operational execution, we do note the credits effectively fund Tesla's European factory," Kallo wrote in a report Thursday…FCA plans to launch a new electric version of its Fiat 500 minicar in Europe this year, along with plug-in hybrid versions of its Jeep Compass, Renegade and Wrangler models. That, combined with the Tesla credits, should make the company compliant with Europe's emissions rules, CEO Mike Manley told analysts in July…While FCA would otherwise struggle to meet new CO2 emissions standards in Europe, the so-called open-pool option available in the European Union allows automakers to group their fleets together to meet targets.

 
 
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.

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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.