fortuneminerals
Click on the blue article title to read full story.
 
Cobalt
 
Argus Media - January 12, 2021
After retreating from the spotlight over the past two years, Australia's battery metal cobalt sector is making a comeback as producers and ...
2019. Australian cobalt production of around 5,100t/yr — the third-highest in the world after the Democratic Republic of the Congo (DRC) and

After retreating from the spotlight over the past two years, Australia's battery metal cobalt sector is making a comeback as producers and explorers seek to benefit from a fresh upsurge in demand and stronger prices…Interest in the metal waned as prices tumbled from record highs in 2018, leading to a prolonged period of underinvestment in the supply chain. But there are signs that a sustainable demand-led recovery is under way, and prices have been gradually strengthening amid expectations that the cobalt market is transitioning to deficit from surplus territory…In Europe, prices for min 99.8pc chemical grade cobalt ended last week at $16.50-17.30/lb du Rotterdam, down from $43.80-44.20/lb in late-April 2018 but up from a low of $12-12.60/lb in August 2019.

 
Mining Weekly - January 12, 2021
Financial risk management, solutions and insights company Fitch Solutions Country Risk and Industry Research (Fitch Solutions) expects the ...
Entreprise Générale du Cobalt to finance as many as six strictly regulated artisanal mining sites. Cobalt from the artisanal sites will

Financial risk management, solutions and insights company Fitch Solutions Country Risk and Industry Research (Fitch Solutions) expects the demand for key battery metals to rise in the coming year as renewable energy and technology adoption continue to pick up pace. The acceleration to a low-carbon economy in 2021 will bolster electric vehicle (EV) demand, thereby accelerating demand for essential battery metals, such as lithium, cobalt and nickel…Moreover, Fitch Solutions indicated that as government incentives for sustainability increase, many automotive manufacturers will enter the EV competitive landscape and compound demand, from which battery metals prices will benefit as there will be an expected lag in raw materials project development. At current prices, the initial increase in mining investment will be inadequate to match the acceleration of demand. Furthermore, following initial discovery, Fitch Solutions said, mining projects can take on average up to seven years to reach first production, emphasizing the delayed realisation of supply gains…Simultaneously, Fitch Solutions is forecasting cobalt to remain an essential component from automotive battery packs, as it proves key to car performance in changing temperatures. Despite successful efforts to minimise the use of cobalt in EV battery packs, the company believes that the complete elimination of the metal remains unlikely…Early reports on Tesla’s use of Contemporary Amperex Technology’s (CATL) lithium iron phosphate (LFP) cells are unpromising. The LFP cells are cobalt free and more cost efficient; however, Tesla’s Standard Range Model 3 vehicles produced in China (with LFPs) have experienced limited range and reduced charging capabilities due to colder temperatures. Cobalt-containing batteries are preferable owing to increased stability and reliability through temperature changes. Furthermore, outside of China, Tesla vehicles feature a nickel/cobalt/aluminium cathode and in June 2020, the firm signed a long-term partnership with Glencore for up to 6 000 t/y of cobalt. “As such, we expect cobalt content to remain low, but not disappear altogether.”…The use of cobalt will be further supported by increased regulation in the Democratic Republic of Congo’s (DRC’s) artisanal mining sector. In December 2020, the DRC joined the Cobalt Action Partnership which aims to end human rights abuses, such as child labour, in the cobalt supply chain…In November 2020, Trafigura reached an agreement with the Congolese State-owned Entreprise Générale du Cobalt to finance as many as six strictly regulated artisanal mining sites. Cobalt from the artisanal sites will feature tracing, further reducing human rights risks.

 
Reuters - January 12, 2021
OSLO (Reuters) - Norway’s oil and gas reserves have made it one of the world’s wealthiest countries but its dreams for deep-sea discovery ...

Norway’s oil and gas reserves have made it one of the world’s wealthiest countries but its dreams for deep-sea discovery now centre on something different…This time, Oslo is looking for a leading role in mining copper, zinc and other metals found on the seabed and in hot demand in green technologies…Norway could license companies for deep-sea mining as early as 2023, its oil and energy ministry told Reuters, potentially placing it among the first countries to harvest seabed metals for electric vehicle batteries, wind turbines and solar farms…That could also place it on the front line of a controversy over the environmental risks posed by exploiting the world’s unexplored seabeds, however…Norway on Tuesday announced it was starting preparations for an environmental impact study needed to open areas of its seabed mineral exploration and production…The move follows three years of expeditions on which Norway has found deep-sea deposits containing copper, zinc, cobalt, gold and silver, according to the Norwegian Petroleum Directorate which conducted the work… “Were parliament to decide to open up, exploration licences could be issued - possibly in the second half of 2023 or in 2024,” the oil and energy ministry said…Japan has similar plans but its project with private firms is not expected to begin before some time between 2026 and 2028, an official at the Japanese Agency for Natural Resources and Energy told Reuters…Timing will depend on metals prices and reducing the costs of deep-sea mining, the official said…Though demand for the metals on offer is being driven by clean technologies, exploration of the seabed presents environmental challenges of its own…Environmentalists including Britain’s David Attenborough have called for a moratorium on deep-seabed mining until more is known about species living on the seabed and the potential impact on them. Greenpeace in a recent report called for a permanent ban…“Greater knowledge of the environmental impacts, as well as the ability to mitigate these to acceptable levels, is required before we can be confident that engaging in industrial-scale deep-seabed mining would bring a global net benefit,” said an expert report published last month commissioned by the Ocean Panel…The Ocean Panel is co-chaired by Norway and groups 14 coastal states that seek to shape policy on the world’s oceans…While oil and gas have made Norway rich, the country of 5.4 million is keen to find alternatives to gradually replace its top industry and to play its role in greener energy and the growth it offers…Deep-sea mining could generate up to $20 billion in annual revenue for Norway towards 2050 - compared to around $61 billion from oil and gas in 2019 - and create about 20,000 jobs, Oslo-based consultancy Rystad Energy has estimated.

 
 
EVs & Energy Storage
 
Reuters - January 13, 2021
Slideshow ( 3 images ) BEIJING/TAIPEI (Reuters) - Taiwan’s Foxconn and Chinese automaker Zhejiang Geely Holding Group said on Wednesday ...
a tie-up with Chinese electric car startup Byton and comes amid reports that Apple is likely to launch a self-driving electric car by 2024.

Taiwan’s Foxconn and Chinese automaker Zhejiang Geely Holding Group said on Wednesday they will join hands to provide contract manufacturing for automakers…They will each hold 50% of a venture that will also provide consulting services on electric vehicle (EV) technologies to automakers, the companies said in a statement…It marks the latest move by Foxconn, a major Apple Inc supplier, into autos after a tie-up with Chinese electric car startup Byton and comes amid reports that Apple is likely to launch a self-driving electric car by 2024…For Geely, the partnership will allow it to share its first EV-focused platform, launched in September, with other automakers, according to people familiar with Geely’s plan…Geely, which owns Volvo Cars and holds 9.7% of Daimler AG, is keen to improve the capacity utilisation rate of its plants around China, said the sources, who were not authorised to speak to media and declined to be identified.

 
Unknown - January 12, 2021
As General Motors picks up momentum toward the electric future it has been promising for the past several years, it is adding a new brand to its portfolio, BrightDrop.

BrightDrop will be the first new GM brand since it bought Hummer in 1998. However, unlike Chevrolet, Buick, GMC and Cadillac, BrightDrop is focused exclusively on commercial customers with an ecosystem of electric vehicles and services…In fact, BrightDrop isn’t just a new brand, but also a new business unit, much like Saturn was when it launched…The first product is unlike any GM vehicle previously built. The BrightDrop EP1 is a powered electric pallet that enables easier movement of goods over short distances…Something you might more typically expect from GM is the EV600 cargo van. This battery electric delivery van is a direct competitor to the vans that Rivian will be producing for Amazon beginning next year. The EV600 is built using GM’s new Ultium electric platform including the same type of battery system and motors going into the rest of GM’s new BEVs including the Hummer. 

 
 
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.