fortuneminerals
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Cobalt
 
bbc.com - March 21, 2024
The country has applied for two new licences to explore the deep seabed in parts of the Indian Ocean.

The country, which already has two deep-sea exploration licences in the Indian Ocean, has applied for two more amid increasing competition between major global powers to secure critical minerals. Countries including China, Russia and India are vying to reach the huge deposits of mineral resources - cobalt, nickel, copper, manganese - that lie thousands of metres below the surface of oceans. These are used to produce renewable energy such as solar and wind power, electric vehicles and battery technology needed to battle against climate change…If the ISA approves India's new applications, its licence count will be equal to that of Russia and one less than China…In response to the other application - to explore the cobalt-rich ferromanganese crusts of the Afanasy-Nikitin Seamount in the Central Indian Ocean - the commission has noted that another unnamed country has claimed the seabed area (that India has applied for) as part of their extended continental shelf and asked India for a response…In 2022, India's National Institute of Ocean Technology conducted trials of its mining machine at a depth of 5,270m in the central Indian Ocean basin and collected some polymetallic nodules (potato-shaped rocks that lie on the seafloor and are rich in manganese, cobalt, nickel, and copper)…The US is not part of the race to mine international waters as it has not ratified the UN Convention on the Law of the Sea, the agreement which led to the creation of the ISA. Instead, it aims to source minerals from its domestic seabed and process ones mined by its allies from international waters…But environmental campaigners say the deep seabed is the last frontier in the planet that remains largely unstudied and untouched by humanity and mining there could cause irreparable damage, no matter how pressing the need…The World Bank has projected that extraction of critical minerals will need to increase fivefold by 2050 to meet the demand for clean energy technologies…China - which has honed processing technologies and expertise over decades - currently controls 100% of the refined supply of natural graphite and dysprosium, 70% of cobalt and almost 60% of all processed lithium and manganese, according to the International Renewable Energy Agency…Moreover, Beijing has banned the export of some of its processing technologies…"We are up against a dominant supplier that is willing to weaponise market power for political gain," US energy secretary Jennifer Granholm said at a critical minerals and clean energy summit in August 2023.

 
The Financial Post - March 20, 2024

U.N. agencies have warned that waste from electronics is piling up worldwide while recycling rates remain low and are likely to fall even further…The agencies were referring to “e-waste,” which is defined as discarded devices with a plug or battery, including cellphones, electronic toys, TVs, microwave ovens, e-cigarettes, laptop computers and solar panels. It does not include waste from electronic vehicles, which fall into a separate category…Metals — including copper, gold and iron — made up half of the 62 million tons, worth a total of some $91 billion, the report said. Plastics accounted for 17 million tons and the remaining 14 million tons include substances like composite materials and glass…The U.N. says 22% of the e-waste mass was properly collected and recycled in 2022. It is expected to fall to 20% by the end of the decade because of “staggering growth” of such waste due to higher consumption, limited repair options, shorter product life cycles, growing “electronification” of society, and inadequate e-waste management infrastructure, the agencies said…About half of all e-waste is generated in Asia, where few countries have laws on e-waste or collection targets, according to the report. Recycling and collection rates top 40% in Europe, where per-capita waste generation is highest: nearly 18 kilograms (39 pounds).

 
 
EVs & Energy Storage
 
Associated Press - March 20, 2024
FILE - Environmental Protection Agency Administrator Michael Regan speaks at the University of Maryland, May 11, 2023, in College Park, Md ...

The Biden administration announced new automobile emissions standards Wednesday that officials called the most ambitious plan ever to cut planet-warming emissions from passenger vehicles…The new rules relax initial tailpipe limits proposed last year but eventually get close to the same strict standards set out by the Environmental Protection Agency…The EPA said that under its final rule, the industry could meet the limits if 56% of new vehicle sales are electric by 2032, along with at least 13% plug-in hybrids or other partially electric cars, as well as more efficient gasoline-powered cars that get more miles to the gallon…That would be a huge increase over current EV sales, which rose to 7.6% of new vehicle sales last year, up from 5.8% in 2022…President Joe Biden, who has made fighting climate change a hallmark of his presidency, cited “historic progress” on his pledge that half of all new cars and trucks sold in the U.S. will be zero-emission by 2030…The EPA rule applies to model years 2027 to 2032 and will significantly reduce emissions of planet-warming greenhouse gases, as well as other air pollution such as nitrogen oxides and particulate matter from new passenger cars, light trucks and pickups…The new rule slows implementation of stricter pollution standards from 2027 through 2029, after the auto industry called proposed benchmarks unworkable. The rule ramps up to nearly reach the level the EPA preferred by 2032…Generally, environmental groups have been optimistic about the new EPA plan, which is aimed at slashing emissions from a source that causes one-fifth of the nation’s carbon pollution…Republicans criticized the new standards, saying they essentially decide for the public which vehicles they should buy…U.S. electric vehicle sales grew 47% last year to a record 1.19 million as EV market share rose to 7.6%. But EV sales growth slowed toward the end of the year. In December, they rose 34%...The Alliance for Auto Innovation, a large industry trade group, praised the EPA’s slower implementation of the standards, saying the pace of the EV transition matters as the industry moves to produce more electric vehicles and plug-in hybrids to convert more traveling miles to electricity. 

 
 
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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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.