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Cobalt
 
Financial Times - April 30, 2021
The price of cobalt has jumped 40 per cent so far this year on persistent demand from electric vehicle makers, underlining the challenge in ...

The price of cobalt has jumped 40 per cent so far this year on persistent demand from electric vehicle makers, underlining the challenge in reducing reliance on the rare metal to make batteries for longer-range cars…Electric carmakers including Tesla and Volkswagen have pledged over the coming years to reduce their use of cobalt, which is largely dependent on mining in the Democratic Republic of Congo, deterred by human rights abuses in the supply chain and by the high price…Prices for the world’s most expensive battery metal hit their highest level since January 2019 in March — at $25 a pound — and currently hover around $21, according to data company Fastmarkets. Analysts at RBC say they expect cobalt prices to reach $28.50 a pound this year, and rise to $40 in 2024 as alternatives are expected to remain scarce…After a 40 per cent rise in 2020, electric car sales more than doubled in the first quarter of 2021 compared with the same period a year earlier, according to the International Energy Agency. “The supply side is not reacting right now,” said Michael Widmer, an analyst at Bank of America. “So I forecast really big deficits potentially, which begs the question, where will the cobalt come from?” …“The growth in EV volumes is drowning any effect of substitution. Range anxiety still hasn’t gone away,” he added…This month China’s largest battery maker, CATL, said its subsidiary had bought a share in an undeveloped copper and cobalt project in the DRC for $138m, in an indication of future demand for the metal…“They are not going to be investing in a mining operation unless they have pretty good visibility that they will need the cobalt,” Caspar Rawles, an analyst at consultancy Benchmark Mineral Intelligence, said…While a growing number of electric cars in China, the world’s largest EV market, are using an alternative lithium-iron phosphate (LFP) chemistry that does not use cobalt or nickel, but this has been outweighed by growth in global demand for more powerful batteries…“I still think cobalt will be an important battery material going forward,” said William Adams, head of base metals and battery research at Fastmarkets. “Even though there will be less cobalt in batteries it will still put production under strain because of the vast uptake in EVs and energy storage.”…Cobalt prices are notoriously volatile. They rose to $45 a pound in 2018 before falling to a low of $12 a pound the following year. Glencore, the world’s largest cobalt producer, which supplies Tesla among others, shut down its Mutanda mine in the Congo in the summer of 2019 due to low prices. Prices may need to get above $25 for more large mines to enter production, according to Widmer at Bank of America.

 
Unknown - April 29, 2021
The demand for nickel and cobalt as battery materials for electric vehicles (EV) will keep their long-term bullish fundamentals intact, according to Canadian miner Sherritt International.

"In 2020, more than 3.2 million EVs were sold despite the [Covid-19] pandemic. Industry observers estimate that the number of EVs sold in 2021 will grow by approximately 70%," Sherritt said in its first-quarter production results on Wednesday April 28…Similarly, the Canadian company said, the outlook for cobalt over the long term remained bullish because demand from the EV sector in China alone was expected to grow annually by 26% until 2025…Cobalt prices have risen this year, Sherritt said, on reports that consumers in China have started to stockpile inventory to take advantage of weak prices, in anticipation of stronger demand from accelerated growth of EV demand…Fastmarkets' latest price assessment for cobalt, standard grade, in-whs Rotterdam, was $20.50-22.00 per lb on April 29. This compared with $15.20-15.65 per lb a year earlier…Sherritt expected to produce 32,000-34,000 tonnes of finished nickel and 3,300-3,600 tonnes of finished cobalt in 2021.

 
 
EVs & Energy Storage
 
Unknown - April 29, 2021
General Motors Co said on Thursday it will invest $1 billion in a manufacturing complex in Mexico, drawing immediate criticism from the union for U.S. autoworkers as it prepares to build electric vehicles in 2023 in the border state of Coahuila. GM said it is building a new high-tech paint shop

General Motors Co said on Thursday it will invest $1 billion in a manufacturing complex in Mexico, drawing immediate criticism from the union for U.S. autoworkers as it prepares to build electric vehicles in 2023 in the border state of Coahuila…The United Auto Workers criticized GM's decision to build EVs in Mexico instead of using the union's members in the United States when Washington is considering large new incentives for electric vehicles…GM responded to the UAW statement by noting it has "recently announced nearly 9,000 jobs and more than $9 billion in new electric vehicle or battery cell manufacturing facilities in Michigan, Ohio and Tennessee."…The White House did not immediately comment, but President Joe Biden has called for $174 billion to boost U.S. EV production, sales and infrastructure…GM said it also plans to build batteries and electrical components at Ramos Arizpe and is making other improvements to its manufacturing complex…GM aims to build two Chevrolet electric SUVs at Ramos Arizpe starting in 2023, according to Sam Fiorani, who tracks future vehicle production for AutoForecast Solutions…A GM spokesman said the company was not announcing or confirming the electric vehicles that will be built in Coahuila, describing Fiorani's comment as speculation…The automaker already makes electric vehicles at four locations in the United States and Canada. GM has said it aspires to halt U.S. sales of gasoline-powered passenger vehicles by 2035.

 
The Korea Herald - April 29, 2021
South Korea’s leading steelmaker Posco has set up a new entity in Europe and will launch another one in Korea to recycle LG Energy Solution ...
of the total costs of lithium-ion batteries. Due to the recent boom of electric vehicles, the price of cobalt, which stood at $29,500 on Apr

South Korea’s leading steelmaker Posco has set up a new entity in Europe and will launch another one in Korea to recycle LG Energy Solution’s electric vehicle batteries, according to industry officials…“The new entity has been established in Poland recently and we are in the process of forming another one in Gwangyang, South Jeolla Province, which is currently awaiting approval,” a Posco official said Friday…The new entity in Poland will collect defective batteries from the nearby LGES’ 70-gigawatt-hour lithium-ion battery manufacturing plant, the official said…After extracting cathodes -- one of the four key components of lithium-ion batteries -- Posco will grind them up into fine powder and ship the material to Gwangyang, where one of its major domestic steel plants is located…The new Gwangyang complex will be in charge of extracting key metals such as nickel, cobalt and manganese…Typically, the process involves dipping the powder into acid or melting it in high heat to extract critical metals. It hasn’t been decided which method Posco will follow.

 
The Financial Post - April 30, 2021
and could launch some models this year. Sales of new energy vehicles, including pure battery electric vehicles as well as plug-in hybrid and

Huawei, which has been battered by U.S. sanctions, is in talks with Chongqing Sokon to acquire a controlling stake in the latter’s Chongqing Jinkang New Energy Automobile, said the sources…The move will allow Huawei to make intelligent cars bearing its own nameplate, they added. Jinkang counts U.S. EV brand Seres, formerly known as SF Motors, as its main asset…It would also provide the first evidence that Huawei is looking to go beyond just offering auto operating systems and have an end-to-end presence in the EV business…However, the Huawei spokesman said, “Huawei is not making cars,” and added that it was not looking to acquire controlling stakes, although without specifying where…Underscoring the shift, the company’s rotating chairman Eric Xu announced pacts with three state-owned Chinese carmakers, including BAIC Group, to supply “Huawei Inside,” a smart vehicle operating system, at the Shanghai Auto Show earlier this month…Huawei’s foray into EVs comes as technology firms such as Xiaomi Corp have been stepping up efforts in the world’s biggest market for such vehicles, as Beijing heavily promotes greener vehicles to reduce carbon emissions…“As individual consumer demand for smart EVs has been picking up notably since mid-last year, the track is now clear and solid in front of the tech giants,” said Yale Zhang, managing director of Automotive Foresight…Huawei is also seeking to control the EV brand ArcFox of BAIC’s BluePark New Energy Technology, which recently launched its Alpha S model equipped with the “Huawei Inside” system, said the two people and another person with direct knowledge…For months, Huawei has been deeply involved in the operation and manufacturing of the little-known Sokon and its loss-making Seres unit…Under the tie-up, Seres’s first model, “Huawei Smart Selection” SF5, debuted at the Shanghai Auto Show and received over 3,000 orders within two days after the pre-sale started last week, according to Seres.

 
MSN Malaysia - April 30, 2021
© Provided by The Edge SINGAPORE (April 30): Indonesian ride-hailing start-up Gojek plans to make every car and motorcycle on its platform ...
he said. "We do know that the building of this electric vehicle ecosystem from raw materials to battery production to vehicle production is

Indonesian ride-hailing start-up Gojek plans to make every car and motorcycle on its platform an electric vehicle (EV) by 2030 through partnerships with manufacturers and favourable leasing arrangements, co-chief executive officer (CEO) Kevin Aluwi told Reuters…Gojek announced the plan on Friday under a zero-emission pledge laid out in its first annual sustainability report, which analysts widely regard as a move aimed at bringing the company closer to a public listing…However, analysts expect the cost of going electric in Indonesia to be high due to the need for related infrastructure in a country which only has around 100 charging stations.

 
 
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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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.