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Cobalt
 
Metal Bulletin - September 21, 2023
Lower cobalt prices have made it difficult for artisanal mining to be economically viable with the demand for cobalt being uncertain, ...

"Artisanal mining is 'dying' with the current cobalt price," another source close to the matter said …The daily price assessment for cobalt, standard grade, in-whs Rotterdam, was $13.75-14.75 per lb on September 21, down from $39.75-40.50 per lb on May 3 last year…The lower price has not only affected artisanal mining, but also was the reason behind the suspension of final construction at the Idaho Cobalt Operations (ICO) mine in the US, operated by Australia-based cobalt and nickel supplier Jervois Global…Oversupply of cobalt and the fall in prices have also led Glencore to consider curtailing its production of cobalt.

 
Reuters - September 22, 2023
Canada and Japan on Thursday agreed to work more closely together to establishing sustainable and reliable global battery supply chains, the Canadian government said in a statement.

Canada and Japan on Thursday agreed to work more closely together to establishing sustainable and reliable global battery supply chains, the Canadian government said in a statement…The two sides signed a memorandum of cooperation on the supply chains during a visit by Japanese Industry Minister Yasutoshi Nishimura, it said, but gave no details…Canada, home to a large mining sector for minerals such as lithium, nickel and cobalt, wants to woo firms involved in all levels of the electric vehicle (EV) supply chain via a multibillion-dollar green technology…"As worldwide demand shifts increasingly towards cleaner forms of energy, Canada's critical minerals resources and battery supply chains will play a vital role in how we get there," said Natural Resources Minister Jonathan Wilkinson.

 
Mining Weekly - September 22, 2023
PERTH (miningweekly.com) – Federal Resources Minister Madeleine King will hold bilateral talks with ministerial counterparts from Germany, ...

Federal Resources Minister Madeleine King will hold bilateral talks with ministerial counterparts from Germany, the EU, France and the UK around Australia’s supply of critical minerals…The Minister will also take part in the inaugural International Energy Agency (IEA) Critical Minerals and Clean Energy Summit on September 28 in Paris…“Australia’s resources sector also has high environmental and social governance standards (ESG), and a global reputation as a stable and reliable export partner…King said that the visit to Europe and the UK would be a chance to outline how Australia is working with the sector and cooperating with international partners to diversify global supply chains and support investment in the mining and processing of key critical minerals…“Critical minerals are crucial components of clean energy technologies such as batteries for electric vehicles and energy storage, as well as for wind farms and solar panels.”…Australia is the world’s leading producer of unprocessed lithium, the world’s third largest cobalt exporter and the fourth-largest exporter of rare earths. Australia is also the fourth largest exporter of mined copper and nickel and a significant producer of aluminium

 
 
EVs & Energy Storage
 
Reuters - September 22, 2023
... [1/2] A Toyota EV car is seen at the Bangkok International Motor Show in Bangkok, Thailand, March 30, 2022. REUTERS/Soe Zeya Tun Acquire ...

Toyota Motor will speed up production of electric vehicles of its Toyota and luxury Lexus brands, the Nikkei newspaper reported on Friday…The Nikkei report said the Japanese automaker was likely to step up production of battery-powered vehicles over the coming years to reach annual output of more than 600,000 vehicles in 2025…Toyota last year sold fewer than 25,000 EVs, including of its Lexus brand, worldwide.

 
Reuters - September 21, 2023
The logo of JSW is seen on the company's headquarters in Mumbai, India, February 11, 2016. Picture taken February 11, 2016. REUTERS/Danish ...

Indian steel-to-energy group JSW is in early stage talks with Korea's LG Energy Solution (LGES) about jointly manufacturing batteries in India, two sources told Reuters, as it presses ahead with plans to build electric vehicles locally…JSW held talks with senior LGES executives in Korea earlier this month, proposing a partnership to manufacture battery cells in India for EVs and energy storage, one of the people with direct knowledge of the discussions said…The Indian company is also talking to other battery players including China's CATL and Japan's Panasonic and Toshiba as it looks to build a local supply chain for EVs, said the second person, who is familiar with JSW's EV plans…A third source briefed on JSW's EV plans said the company wants to set up a factory to produce 20 gigawatt hour (Gwh) of battery capacity in phases by the end of this decade, starting with 8 Gwh in the first phase. JSW's billionaire chairman Sajjan Jindal has publicly aired his desire to build EVs and its talks to buy a stake in China's MG Motor…Discussions with MG Motor are now on the backburner and JSW is in talks with Chinese automaker Leapmotor to license technology to build EVs in India under its own brand, sources told Reuters last month.

 
Yahoo! News - September 22, 2023
All new models sold in North America from 2025 will offer the standard.

Jaguar is joining Mercedes, Polestar and other automakers in adopting Tesla's NACS chargers for vehicles sold in North America starting in 2025. The company signed an agreement with Tesla to gain access to its 12,000+ Superchargers for its "current and future customers" using the standard…"The next generation luxury electric Jaguars, launching in 2025, will incorporate the NACS connector without the need for an adapter in the USA, Canada and Mexico," it said in a press release, adding that it will adopt the standard for "vehicles and home chargers, and source and supply adapters from Tesla for I-PACE drivers once available." 

 
Reuters - September 22, 2023
Eramet and Suez have chosen Dunkirk as the location for a planned electric vehicle (EV) battery recycling facility as the partners look to tap into a battery production belt being developed around the northern French port, they said on Friday.

Eramet and Suez have chosen Dunkirk as the location for a planned electric vehicle (EV) battery recycling facility as the partners look to tap into a battery production belt being developed around the northern French port, they said on Friday…Under their joint venture, mining group Eramet and waste and water company Suez aim to build a plant to dismantle lithium-ion batteries, followed by a second unit to separate and refine metals like nickel, cobalt and lithium for reuse in batteries…Eramet has received an 80 million euro ($85.18 million) grant from the European Union and French state-owned bank BPI towards financing the project, they said…Eramet and Suez's battery dismantling plant will have a processing capacity of 50,000 tons of battery modules per year, the equivalent of 200,000 EV batteries, they said.

 
 
Congo
 
Associated Press - September 21, 2023
Felix Antoine Tshisekedi Tshilombo, President of the Democratic Republic of Congo, addresses the 78th session of the United Nations General ...

Congo’s president wants the world’s second largest United Nations peacekeeping force to move up its departure from the country, starting this December, saying it has failed to rein in conflicts in the country’s east…President Felix-Antoine Tshisekedi in an address at the annual United Nations gathering of world leaders on Wednesday accused the 17,000-strong peacekeeping mission of being unable to confront the fighting in eastern Congo that is “tearing apart” the central African nation…After a quarter-century of peacekeeping efforts, “it’s time for our country to take its destiny fully in hand” and become the leading security force in Congo, he said. How Congo’s estimated 100,000-strong military will adapt to the challenge is not clear…Eastern Congo, far from the capital, has long been overrun by dozens of armed groups seeking a share of the region’s gold and other resources. Some have been quietly backed by Congo’s neighbors. U.N. experts have noted “substantial evidence” that Rwanda is supporting the resurgent M23 rebel group, which Rwanda has denied…Thousands of civilians have suffered, and frustrated Congolese say that no one is protecting them from rebel attacks. Earlier this month, a Congolese military crackdown on planned protests against the U.N. mission killed at least 43 people and severely injured more than 50 in the eastern city of Goma. Two high-ranking officers were arrested…“In the past year, the political and security environment has deteriorated sharply, creating a severe humanitarian and protection crisis,” said a report last month by the U.N. secretary-general discussing options for the peacekeeping mission’s withdrawal.

 
 
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.