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Cobalt & Bismuth
Reuters • November 05, 2026 • 11:19 AM
Europe must stockpile critical raw materials, Germany's Merz says

Europe must build up stocks of critical raw materials to reduce its ​dependence on countries that dominate their ‌extraction and processing, German Chancellor Friedrich Merz said on Thursday…"Without critical raw materials, there would be ​no batteries, no high-performance electric motors, ​no modern semiconductors and none of the ⁠many other technologies on which our economies ​will depend in the future," Merz told ​an economic conference in Berlin…The European Union, along with other major Western economies, relies heavily on China for critical minerals ​and components ​such as ⁠batteries and rare earths used in the defence, aerospace, automotive and ​renewable energy sectors.

 
Reuters • November 05, 2026 • 11:18 AM
Congo residents sue Chinese copper mine over alleged pollution, statement says

Residents living near a major Chinese-controlled cobalt mine in the Democratic ‌Republic of Congo have sued the mine's operator for $6.3 million, alleging that pollution harmed their health, according to UK-based corporate watchdog RAID and Congo-based nonprofit AFREWATCH…The two groups said they commissioned the scientific studies ⁠that found the alleged pollution and effect on the environment, and are supporting the ​residents' lawsuit…The claimants, including eight children, are seeking about $1.3 million in compensation and $5 million for environmental restoration…Under Congo's 2018 mining code, companies can be held liable for environmental ​damage unless they can prove it was caused by factors unrelated to their operations ​under…"If successful, the case could pave the way for other communities living near industrial mines to ‌seek ⁠justice," RAID and AFREWATCH said in their joint statement…Congo is the world's largest cobalt producer and second-largest copper ​producer.

Fortune In The Media
Asian Metal • November 06, 2026 • 11:18 AM
Asian Metal Executive Interviews: Bismuth demand to keep growing,Interview with Robin Goad,President & CEO,Fortune Minerals Limited

Fortune Minerals' NICO project hosts one of the world's largest bismuth deposits, accounting for approximately 12% of global bismuth reserves, or about 46.3 million kg. The project is designed to produce three critical minerals – cobalt, bismuth and copper – along with gold as a by-product. Fortune Minerals is advancing its vertically integrated NICO cobalt-gold-bismuth-copper project, which comprises a planned mine and concentrator in Canada's Northwest Territories and a dedicated refinery in Alberta… It has also completed positive feasibility and front-end engineering and design (FEED) studies, which are now being updated in preparation for a potential final investment decision (FID) in 2027…In addition, Fortune Minerals has established a process collaboration with Rio Tinto, which will enable the company to increase bismuth production in Alberta by processing residues from Rio Tinto's Kennecott smelter in the United States…Bismuth and cobalt supply chains are vulnerable due to the geographic concentration of production, political instability and/or policy risks in current source countries. Metal concentrates are often shipped to other countries for processing, resulting in the loss of downstream value and control over the metals, while making it difficult to ensure that products are available to domestic manufacturers. Western governments are actively working to secure critical minerals supply chains and reduce dependence on China. NICO will become a vertically integrated source of three critical minerals, with both the mine and refinery located in Canada, making it a strategically important North American asset…Fortune Minerals' NICO project is expected to produce approximately 1,700 tonnes of bismuth ingots and bismuth oxide annually. China currently accounts for approximately 80% of global bismuth mine production and 90% of refined bismuth supply, while the global market is estimated at around 25,000 tonnes per year…New applications are driving demand growth and supporting prices…Meanwhile, growing consumption of bismuth in industrial, environmental, technological and defense applications is creating additional demand. These applications include a non-toxic substitute for lead in brass, solders, free-machining steels and aluminum, ceramic glazes and ammunition; Bismuth-tin plugs used for the effective plugging and abandonment of decommissioned oil and gas wells; Heat-resistant manganese-bismuth magnets as alternatives to rare earth magnets; Nuclear fuel processing, reactor coolants and radiation shielding; High-speed, low-heat electrical interconnects and solders for AI data centers; Next-generation semiconductors reportedly offering speeds 40% faster and energy efficiency 10% higher than silicon-based chips; Lightweight electric vehicle battery casings, charging infrastructure and electrical hardware; Fuses, transistors and high-performance electrical connectors; Rocket and missile fuels, as well as propellants for ammunition…Meanwhile, price divergence between Chinese and Western markets is likely to widen further as Western countries pursue supply chain diversification and security…China has imposed export controls on bismuth ingots this year…The global market is actively seeking alternative sources of supply. Fortune Minerals maintains a list of more than 130 prospective customers outside China. Just 40 of these companies account for more than 10,000 tonnes of bismuth demand.

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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