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EVs & Energy Storage
 
Reuters - December 5, 2022
BYD Co's Japanese division said on Monday it would start selling its first battery electric vehicles (BEVs) in the country early next year ...

BYD Co's Japanese division said on Monday it would start selling its first battery electric vehicles (BEVs) in the country early next year, as the world's largest EV maker further steps up its plan to either sell or make its cars available across major markets…China's BYD, in which Berkshire Hathaway owns a stake, said it will roll out an electric sports utility vehicle, ATTO 3, in Japan starting Jan. 31. The car has a cruising distance of 485 kilometres and will cost 4.4 million yen ($32,735.66)…BYD's Japan chapter is planning to introduce two more models by the end of 2023 and more than 100 dealerships in Japan by the end of 2025, the company said.

 
UK Yahoo! Finance - December 5, 2022
Tesla electric vehicle being charged (PA) ...

A jump in demand for electric vehicles helped the UK new car market grow 23.5% in November, according to data from the Society of Motor Manufacturers and Traders (SMMT), as the Tesla Model Y became the second best-selling car of the month, with almost 4,000 vehicles sold…Over 55,000 battery, plug-in and hybrid electric vehicles were registered during the month, a 32% increase on last year as EVs climbed to hit a one-third share of the total car market in the UK, with the Model Y becoming the ninth most popular car of the year with almost 25,000 vehicles registered since January.

 
Electrek - December 5, 2022
Ford Pro, the automaker’s software and commercial fleet division, announced today it has entered into a new agreement with logistics leader ...

Ford Pro, the automaker’s software and commercial fleet division, announced today it has entered into a new agreement with logistics leader Deutsche Post DHL Group (DHL). The deal is designed to accelerate electric van deployment, starting with Ford supplying over 2,000 E-Transit EV vans to DHL by the end of 2023…Ford unveiled the E-Transit in November 2020. It’s the fully electric version of the automaker’s best-selling cargo van that’s popular among commercial customers…Within two years, Ford’s electric van became the top-selling model in its segment by far…The E-Transit is playing a critical role in the transition to sustainable transportation in the commercial van market. According to Ford’s November US sales report, nearly 6,000 E-Transit vans have been sold so far this year in the United States alone.

 
 
Congo
 
U.S. - December 5, 2022
China's CMOC Group could take legal action against Congo's state mining company Gecamines, a spokesman for the Chinese mining firm said, after having exports blocked from Tenke Fungurume, the world's second-biggest cobalt mine, for a fifth month.

China’s CMOC Group could take legal action against Congo’s state mining company Gecamines, a spokesman for the Chinese mining firm said, after having exports blocked from Tenke Fungurume, the world’s second-biggest cobalt mine, for a fifth month…Tenke Fungurume Mining (TFM) suspended copper and cobalt exports in July, when a dispute between Congo and CMOC escalated and a temporary administrator appointed by a Congolese court to run the mine ordered CMOC to stop marketing and exporting its production…Congo’s government says it suspects CMOC understated TFM’s reserve levels to reduce the amount of royalties it pays to Gecamines. CMOC, which was previously known as China Molybdenum, denies having done so…On Oct 12, CMOC had said TFM’s production and operations were normal. But the mine has not exported since July, according to logistics and industry sources…CMOC holds 80% of TFM while Gecamines owns the remaining 20% stake.

 
BNN - December 5, 2022
The high cost of fighting a rebellion in eastern Democratic Republic of Congo is weighing on the resource-rich nation’s budget, but higher-than-expected mining revenue has limited its fiscal impact, according to Finance Minister Nicolas Kazadi.

The high cost of fighting a rebellion in eastern Democratic Republic of Congo is weighing on the resource-rich nation’s budget, but higher-than-expected mining revenue has limited its fiscal impact, according to Finance Minister Nicolas Kazadi…Congo’s budget for “exceptional security expenses” has increased more than 10-fold because of the conflict with the M23 rebel group, which has displaced almost 200,000 people, Kazadi said in an interview Tuesday on the sidelines of the Africa Financial Industry Summit in Lome, Togo. The government has also spent more than $400 million subsidizing high fuel costs caused by the war in Ukraine after budgeting only $80 million, he said. Windfall revenue from mining, which led to a current-account surplus through the first half of the year, has compensated for much of the unexpected expenses, resulting in little impact on macroeconomic stability, according to the International Monetary Fund. Congo is the world’s largest producer of the battery mineral cobalt and Africa’s biggest source of copper…Eastern Congo has suffered decades of conflict since the 1990s, when violence from the aftermath of Rwanda’s civil war and genocide spread across the border. Congo accuses Rwanda of supporting M23, and recent tensions between the two neighbors have raised the risk of renewed fighting in the region, which is rich in gold, tantalum and other resources. Rwanda has denied backing the rebel group…The unrest comes as Congo prepares to hold elections on Dec. 20, 2023, with President Felix Tshisekedi seeking to renew his mandate…A ratings upgrade by Moody’s Investors Service this month and a recent positive review by the IMF show the economy is headed in the right direction, Kazadi said…Congo is also hoping that the renegotiation of a $6.2 billion minerals-for-infrastructure contract with China will soon lead to more road links connecting the east and west of a country that’s the second-largest in Africa by landmass, Kazadi said. The 2008 deal included $3 billion in infrastructure projects, only a fraction of which have been built.

 
BNN Bloomberg - December 5, 2022

Glencore Plc agreed to pay the Democratic Republic of Congo $180 million to cover all claims arising from any alleged acts of corruption by the company between 2007 and 2018. That includes activities under investigation by the US Department of Justice and Congo’s National Financial Intelligence Unit and Ministry of Justice, Glencore said in a statement on Monday.

 
 
Fortune Minerals In The Media
 
La Presse - December 4, 2022

The Chinese have been very proactive, they have invested massively in Congo in order to control the production of the raw materials necessary for the construction of electric batteries, a sector which they also dominate. As a result, China now controls 75% of the planetary stock of refined cobalt. Robin Goad, Toronto geologist, founder of Fortune Minerals…Our situation of dependence on production from Congo and refining from China carries a risk. Some countries, including Canada, have begun to realize this and are trying to diversify their supplies. Robin Goad, geologist

 
 
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.