fortuneminerals
Click on the blue article title to read full story.
 
Cobalt
 
Metal Bulletin - February 23, 2021
Latest analysis from recent activity on the CME Group’s cobalt metal futures contract, cash-settled against Fastmarkets’ price assessment ...
activity on the CME Group’s cobalt metal futures contract, cash-settled against Fastmarkets’ price assessment for cobalt standard grade, in-

Continued sharp gains in cobalt prices - the result of the balancing out of overall supply; tightening availability of material for sulfate feed; and improving consumer appetite - fuels further activity in the futures markets. Market trading at its highest since January 2019, as of Monday February 22…"I can see the interplay between benchmark physical cobalt metal and CME contract prices, and the futures market started to contribute to the price discovery," - a trader

 
Mining.com - February 22, 2021
make it easy for the country to create a sustainable value chain for battery materials. Canada is rich in lithium, graphite, nickel, cobalt,

Canada has a sizeable opportunity to become one of the world’s leaders in the lithium-ion battery market, but that potential needs to be recognized and nurtured by regulators and miners, Benchmark Mineral Intelligence director Simon Moores told the House of Commons on Monday…Moores, who joined a parliamentary discussion on Canada’s role in building a domestic and global lithium-ion battery ecosystem, said the combination of natural resources and a highly-skilled workforce should make it easy for the country to create a sustainable value chain for battery materials…Canada is rich in lithium, graphite, nickel, cobalt, aluminum and manganese, key ingredients for advanced battery manufacturing and storage technology…Having most of the highly-demanded raw materials, however, is not enough. Without an ecosystem that allows for the creation of a market and industry for batteries, Canada could miss the chance to position itself as a top competitor in the global electric vehicles battery supply chain…Value-adding, Moores said, could see Canada gaining a big piece of the growing lithium-ion and EVs market…“The potential to add [Canada’s huge base of key battery raw materials] into high value chemicals, cathodes anodes and even engage in the production of lithium ion batteries offers the country a major slice of this growing lithium ion and electric vehicle economic pie,” Moore said…By producing the main component of EVs, Canada could secure more opportunities to assemble those vehicles and breathe new life into its vehicle sector…Canada’s automotive industry has been on a downward trajectory for the last two decades. According to policy experts Ben Sharpe and Jessie Pelchat, the country has had a net loss of five assembly plants and lost about 30% of its vehicle production to the US and Mexico over the past two decades. 

 
Mining Weekly - February 23, 2021
A federal-provincial-territorial task team has been established to develop a Canadian critical minerals inventory to build an integrated, ...
Task team developing Canadian critical minerals inventory

A federal-provincial-territorial task team has been established to develop a Canadian critical minerals inventory, Natural Resources Minister Seamus O’Regan said on Monday. The inventory would be used to build an integrated, all-Canadian critical minerals and battery value chain…The statement comes while the House of Commons is holding meetings about critical minerals supply chains and what role Canada should be playing in building a domestic and global lithium-ion battery ecosystem…Canada has vast mineral deposits that could feed into the electric vehicle supply chain. These include materials such as nickel, lithium, cobalt, graphite, copper and manganese…The country, however, should also focus on turning these into high-value chemicals, cathodes, anodes and even engage in the production of lithium-ion batteries, Benchmark MD Simon Moores has said…Creating a complete value chain would create jobs and opportunities for northern and remote communities.

 
 
EVs & Energy Storage
 
Reuters - February 22, 2021
Tesla rival Lucid Motors to go public in $24-billion mega SPAC deal (Reuters) - Luxury electric vehicle maker Lucid Motors on Monday agreed ...

Luxury electric vehicle maker Lucid Motors on Monday agreed to go public by merging with blank-check firm Churchill Capital IV Corp in a deal that valued the combined company at a pro-forma equity value of $24 billion…Lucid, run by an ex-Tesla engineer, is the latest firm to tap the initial public offering market, with investors rushing into the EV sector, spurred by the rise of Tesla Inc and with emissions regulations toughening in Europe and elsewhere…The deal, which has a transaction equity value of $11.75 billion, includes a $2.1 billion cash contribution from CCIV and a PIPE (private investment in public equity) investment of 2.5 billion from investors…Lucid, which plans to build vehicles at its factory in Arizona, aims to deliver 20,000 vehicles in 2022 and 251,000 in 2026 by adding other models like an electric sport utility vehicle…With a starting price of $77,400, the sedan is slated to be the first to achieve a 500-mile (805 km) driving range.

 
The Korea Times - February 23, 2021
Chemical unit expands battery cathode plantBy Nam Hyun-wooPOSCO is expanding its business portfolio for the supply chain of electric ...
will invest 275.8 billion won into the plant and build manufacturing lines for high-nickel NCMA cathode materials comprised of nickel,

POSCO is expanding its business portfolio for the supply chain of electric vehicles (EVs) and other eco-friendly mobility services, launching a new brand for specialty products and bolstering its battery cathode plant…The steelmaker said Tuesday that it launched a new brand called "e Autopos" last month for steel products and other materials used to build EVs. This new brand is the second specialty product brand the steelmaker has launched following its premium construction materials brand, "INNOVILT" in 2019…Products under the e Autopos brand include high-tensile steel plates for vehicle chassis, rolled steel for battery packs, energy-efficient plates for motors, separator plates for fuel cell EVs and anode/cathode materials for batteriesAlong with steel products, POSCO Chemical is expanding its battery cathode plant in Gwangyang, South Jeolla Province…The company on Tuesday held a ground breaking ceremony for the Phase 4 expansion of the plant. POSCO Chemical will invest 275.8 billion won into the plant and build manufacturing lines for high-nickel NCMA cathode materials comprised of nickel, cobalt, manganese and aluminum. The plan will start commercial production in 2023…At the new lines, the company will produce cathodes for a number of client companies, including Ultium Cells, which is an EV joint venture between LG Energy Solution and General Motors…When the Phase 4 expansion is completed, POSCO Chemical's cathode production capacity will grow to 100,000 tons per year, which is equivalent to 1.1 million 60 kilowatt-hour EVs…POSCO Chemical said it plans to expand its capacity to 400,000 tons by 2030 to cope with rising global demand. The company expects global demand for cathode materials to grow to 2.04 million tons in 2030, up from 440,000 tons last year.

 
 
Congo
 
MSN Canada - February 22, 2021
killed on Monday when a UN convoy was ambushed in the country's troubled east, violence the DRC's president called a "terrorist attack" and

Italy's ambassador to the Democratic Republic of Congo was among three people killed on Monday when a UN convoy was ambushed in the country's troubled east, violence the DRC's president called a "terrorist attack" and that was blamed on a Rwandan Hutu rebel group…Luca Attanasio died of his wounds after a World Food Programme (WFP) convoy came under gunfire near Goma while he was on a field trip to visit a school feeding programme, according to a senior diplomatic source in Kinshasa and the WFP…UN peacekeepers and Congolese troops deployed to the rural area in Kibumba where the attack occurred, walking a dirt track between overgrown brush as they readied to recover bodies and track down the assailants…Earlier, the interior ministry had blamed the killings on "members of the Democratic Forces for the Liberation of Rwanda (FDLR)," a Rwandan Hutu rebel group that has plagued the region for more than a quarter of a century…Four people were kidnapped, one of whom was later found, the ministry said…A vast country the size of continental western Europe, the DRC is grappling with numerous conflicts, especially in its remote, mineral-rich east…Scores of militias roam the four eastern provinces, many of them a legacy of wars in the 1990s that sucked in countries around central-southern Africa and claimed millions of lives…According to a US monitor, the Kivu Security Tracker (KST), 122 armed groups were active in North and South Kivu, Ituri and Tanganyika provinces last year…The FDLR is one of a number of armed groups operating there…Some of the group's founders were involved in the 1994 Rwandan genocide during which the Hutu majority slaughtered 800,000 people, mainly Tutsis but also Hutu moderates.

 
 
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.