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Cobalt & Bismuth
Reuters • August 21, 2026 • 1:03 PM
Trump administration to back US minerals projects with $500 million in grants

The U.S. Department of Energy is awarding $500 million in grants to seven companies building ‌domestic lithium, cobalt and other mineral and battery projects, the latest in a string of investments aimed at bolstering American mining and processing, according to a document seen by Reuters…The funding comes weeks after President Donald Trump outlined a goal to make the U.S. the "minerals superpower of the world" and curb reliance on market leader China. The administration has used loans, grants, government investments and other tools to encourage new mining and processing projects, while seeking to build a more secure domestic supply chain for minerals considered essential to the economy and national security…The war with Iran has added urgency to the effort, underscoring the strain that a major conflict can put on U.S. weapons inventories and the industrial base needed to replenish them…The Energy Department received hundreds of applications for this third round of funding from its Battery Materials Processing and Battery Manufacturing programs…Jervois, which controls a large cobalt deposit in Idaho, will also receive $100 million to build the country's only refinery for that metal, used to make batteries, electronics and a range of weapons…The company was taken private last year as part of a pre-packaged bankruptcy caused by low market prices. Even so, cobalt is in demand from various sectors and the Energy Department funding aims to boost domestic supplies, Robertson said, adding that the facility could in time process deep-sea nodules.

Reuters • August 20, 2026 • 1:04 PM
Japan proposes giving state body JOGMEC more freedom to invest in critical minerals

The state-owned Japan Organization for Metals and Energy Security should be able to invest in critical mineral projects without needing ‌Japanese companies to participate, the industry ministry proposed on Thursday…Until now, JOGMEC has had either to invest jointly with a Japanese company or pledge to later transfer rights if it acquires them independently…The Ministry of Economy, Trade and Industry's proposed revision is designed to try to increase critical mineral supplies as Japanese companies have struggled with the impact of China's decision…Presented ‌on Thursday to an expert panel on mining policy, the proposal would allow JOGMEC to invest alongside foreign resource holders if waiting for Japanese companies to commit would delay project development and heighten the risk of supply disruption.

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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