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Cobalt & Bismuth
Reuters • February 24, 2026 • 5:37 AM
The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, November 20, 2012. REUTERS ...

Glencore has agreed to buy nearly 2,000 metric tons of cobalt worth almost $115 million at current prices from industry veteran Rami Weisfisch in a landmark deal, two sources with knowledge of the matter said…The material, which is vital for defense and military equipment, is expected to be shipped to the United States for inclusion in its planned stockpile, the two sources added…U.S. President Donald Trump's administration is actively seeking to secure critical materials including cobalt to reduce its reliance on China, the dominant global supplier and processor of metals and minerals needed for strategic industries…The sources expect Glencore to sell the cobalt to the U.S. under Project Vault, an initiative to stockpile critical minerals backed by $10 billion in seed funding from the U.S. Export-Import Bank and $2 billion in private funding…The agreement between Weisfisch and Switzerland-based Glencore came after the U.S. Defense Logistics Agency cancelled a tender to purchase cobalt in October last year. The tender originally announced on August 19 went through several amendments before it was withdrawn…Expectations of stronger cobalt demand, combined with tight supplies created by top producer Democratic Republic of Congo suspending exports from the end of February to mid-October when it imposed quotas, have propelled prices higher.

Reuters • February 23, 2026 • 11:30 AM
Summary Companies Masudi, ex-justice minister, now Gecamines chair Congo submits asset list to U.S. for investment consideration Gecamines' ...

The Democratic Republic of Congo’s president has replaced the board chair and chief executive of state miner Gecamines, the government said on Monday, a major shake-up that comes at a time when negotiations with Washington over a minerals deal take shape…Deogratias Ngele Masudi – a senior state official – will take over as the new chair and Baraka Kabemba will become the chief executive, according to an official statement read on state TV…It was not immediately clear whether the reshuffle had anything to do with the talks, where Congo wants to convince the United States to unlock more Western investments into its vast minerals sector under their minerals cooperation pact tied to security guarantees.

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.
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