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Metal Bulletin - June 28, 2022
The international cobalt metal market fell further on Tuesday after the continuing steep arbitrage window against prices in China ...

The international cobalt metal market fell further on Tuesday after the continuing steep arbitrage window against prices in China encouraged buying and recovering logistics created better opportunities for traders, while spot demand from consumers remained weak…Fastmarkets' daily price assessment for cobalt standard grade, in-whs Rotterdam was $32.95-33.50 per lb on Tuesday June 28, down from $33.45-34.25 per lb a day earlier.

Reuters - June 28, 2022
The director general of the World Wildlife Fund, Marco Lambertini, gives an interview to Reuters at the United Nations Ocean Conference in ...

The World Wildlife Fund's chief warned on Tuesday that the potential impact of mining the deep sea could be "terrifying" and called for strict regulations to avoid yet another environmental disaster…There is growing interest in deep-sea mining but there is also pressure from some environmental groups and governments to either ban it or ensure it only goes ahead if appropriate regulations are in place…Deep-sea mining would involve using heavy machinery to suck up off the ocean floor potato-sized rocks or nodules that contain cobalt, manganese, and other rare metals mostly used in batteries…The International Seabed Authority (ISA), a U.N. body, is drawing up regulations governing seabed mining in the high seas - areas outside any national jurisdiction. Until global rules are in place, seabed mining is not allowed…WWF has called for a global moratorium on all deep-sea mining activities, and countries such as the Pacific islands of Palau and Fiji launched an "alliance" on Monday to back it…But not all nations are against it. China is a major proponent and even smaller nations like the tiny Pacific island of Nauru, for instance, asked the ISA last year to fast-track the adoption of seabed mining regulations.

EVs & Energy Storage
Reuters - June 28, 2022
Cars drive along a road in central Brussels February 7, 2007. REUTERS/Yves Herman (BELGIUM)/File Photo BRUSSELS, June 28 (Reuters) - A ...

EU countries clinched deals on proposed laws to combat climate change early Wednesday, backing a 2035 phase-out of new fossil fuel car sales and a multibillion-euro fund to shield poorer citizens from CO2 costs…After more than 16 hours of negotiations, environment ministers from the European Union's 27 member states agreed their joint positions on five laws, part of a broader package of measures to slash planet-warming emissions this decade…"The climate crisis and its consequences are clear, and so policy is unavoidable," EU climate policy chief Frans Timmermans said, adding that he thought the invasion of Ukraine by top gas supplier Russia was spurring countries to quit fossil fuels faster. Ministers supported core parts of the package that the European Commission first proposed last summer, including a law requiring new cars sold in the EU to emit zero CO2 from 2035. That would make it impossible to sell internal-combustion engine cars…The deal makes it likely that the proposal will become EU law. The ministers' agreements will form their position in upcoming negotiations with the EU Parliament on the final laws. Parliament has already backed the 2035 car target…The climate proposals aim to ensure the 27-country EU - the world's third-biggest greenhouse gas emitter - reaches its 2030 target of reducing net emissions by 55% from 1990 levels…Doing so will require governments

Business Wire - June 29, 2022
Increases plant capacity to 29 GWh, based on $1.6 billion in identified debt financing support, catalyzed by the Norwegian ...

FREYR’s Board of Directors has sanctioned construction of Giga Arctic (combined Gigafactories 1 & 2), the company’s first battery manufacturing facility under development in Mo i Rana, Norway...FREYR is increasing the nameplate capacity of Giga Arctic to 29 GWh in response to improving battery supply-demand dynamics, ongoing commercial success, significant progress in developing supply chain channels for key raw materials and equipment, continued technical and product improvements, and project financing visibility…FREYR has identified total debt financing support of over $1.6 billion based on visibility from export credit agencies, multilateral development finance institutions and commercial banking partners, exceeding management’s leverage target for the $1.7 billion estimated total capital cost for the expanded Giga Arctic project…FREYR is raising its installed annual production capacity target to more than 200 GWh by 2030, twice the company’s previous ambition

Reuters - June 28, 2022
An employee walks past the logo of LG Energy Solution at its office building in Seoul, South Korea, November 23, 2021. Picture taken ...

South Korean battery maker LG Energy Solution Ltd, a major supplier to U.S. carmakers including Tesla, is reassessing a $1.3 billion investment plan for a Arizona factory citing "unprecedented" economic conditions…News that South Korea's biggest battery maker is reviewing the plan, unveiled only three months ago, knocked LGES shares down 4.6% on Wednesday. It comes as more firms review business plans, fearing a drop in consumer demand amid roaring U.S. inflation mainly caused by global supply chain disruption…LEGS said in a statement it was currently reviewing various investment options due to the "unprecedented economic conditions and investment circumstances in the United States."…In a separate regulatory filing, LGES said it has been reviewing the timing, size and details of its investment in Arizona due to rising costs caused by worsening global economic environment, adding that nothing has been decided…Elsewhere in the United States, LGES is building three plants with General Motors Co. in Ohio, Tennessee and Michigan and plans to expand its existing factory in Michigan…LGES said in March the Arizona plant would be its first U.S. factory to make cylindrical cells, a type of battery that has been used in Tesla and Lucid vehicles. Construction was to begin in the second quarter of 2022, it said, with mass production to start in 2024. 

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


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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.