Archive | Cobalt Town

Cobalt refinery edges closer to restart: First Cobalt puts out the mill feed call to North American, international suppliers – by Ian Ross (Northern Ontario Business – October 11, 2018)

https://www.northernontariobusiness.com/

Securing outside feedstock is the key to a faster restart of a cobalt refinery in northeastern Ontario. First Cobalt announced Oct. 10 that it’s in discussions with “several parties” to obtain an outside supply of feedstock that could help finance the restart of its mill near the town of Cobalt.

The Toronto junior miner is evaluating all aspects of how soon to reopen the shuttered operation it purchased in 2017, and position it as a toll milling facility. How soon it reopens depends on the outcome of those talks with suppliers.

The company acquired the 22-year-old facility when it began assembling its sizeable land holdings of more than 11,700 hectares in the Cobalt camp, which includes 50 former silver mines containing cobalt material. Continue Reading →

Cobalt mining conference taking shape – by Ian Ross (Northern Ontario Business – August 10, 2018)

https://www.northernontariobusiness.com/

Land rehabilitation, mining legacy and cobalt exploration are featured topics at September event

There’s definitely a dual meaning that applies to the inaugural Green Mining Conference being held in the Town of Cobalt this September.

For decades, the northeastern Ontario community of 1,100 endured the environmental legacy issues left behind by the town’s famed Silver Rush at the turn of the last century; something Agnico Eagle Mines has spent considerable time and money on to clean up old mine workings.

At the same time, Cobalt is back on the world stage as an exploration hotspot for its namesake metal that’s powering the expanding electric vehicle battery market. Continue Reading →

These battery skeptics think cobalt and lithium prices are overcooked – by Luzi Ann Javier (Financial Post/Bloomberg – July 2018)

https://business.financialpost.com/

Tesla boss Elon Musk says the amount of cobalt his company will use to make electric cars is headed toward ‘almost nothing’

Call them battery skeptics. Bets on surging demand for electric vehicles have made cobalt and lithium hot commodities, but some investors say the outlook is leaving them cold.

While prices have more than doubled in the past three years on worries over shortages of the metals used in batteries, Bank of America Merrill Lynch is predicting “severe oversupplies” in the lithium market, and Subaru Corp. and Mazda Motor Corp. are for now keeping their focus on conventionally powered vehicles.

“The craziness that you see in cobalt will in many ways actually be corrected,” Christoph Eibl, the chief executive officer of asset manager Tiberius Group, said in an interview. “There’s so much uncertainty about how future technologies will be applied and how much replacement and substitution will actually occur. There will be batteries that will use much less lithium. Continue Reading →

How dreams of ‘Mount Cobalt’ are dividing an old mining town – by Gabriel Friedman (Financial Post – May 24, 2018)

 

http://business.financialpost.com/

As cobalt prices spike, some support levelling and gutting Cobalt, Ont., for mining’s return and economic prosperity, but others find the prospect ‘heartbreaking’

Gino Chitaroni keeps five different business cards arrayed at the front of his desk: He’s a geologist, prospector, land manager, salesman and, for many people, a go-to source of information for anything related to mining in Cobalt, Ont.

Until recently, as far as mining is concerned, there hasn’t been much happening around Cobalt. Located about five hours north of Toronto, it experienced a historic and prolific silver rush at the turn of the last century that sustained decades of mining. By the late 1980s, things had petered out.

Then, last year, in a welcome turn of events for a town that has struggled economically since mining disappeared, prospectors started flocking to the area in droves. Continue Reading →

Meteoric landing for Australian cobalt hunter: Junior miner does the groundwork to go drilling in the Cobalt camp – by Staff (Northern Ontario Business – May 9, 2018)

https://www.northernontariobusiness.com/

Meteoric Resources, a western Australian cobalt explorer, is gaining ground in the cobalt country of northeastern Ontario.

The Perth-headquartered outfit has been on a staking binge this spring to enlarge its holdings and fast-track its exploration efforts. In early May, Meteoric grabbed more than 33-square-kilometres of prospective ground, about 40 kilometres northwest of the Town of Cobalt.

Dubbed the Beauchamp Cobalt Project, the company said the property “has all the right rock types combined with great geological structure, and we look forward to fast-tracking exploration at the property.” Continue Reading →

Cobalt Firm Says Chinese Car Companies Keen to Secure Supplies (Bloomberg News – April 16, 2018)

https://www.bloomberg.com/

Cobalt 27 Capital Corp., owner of the world’s largest private stockpile of cobalt, said it is in talks for potential tie-ups with major Chinese companies seeking to secure supplies of the key metal in batteries powering electric vehicles.

Car and battery makers from China have approached Cobalt 27 to discuss long-term partnerships and supply contracts, Anthony Milewski, chief executive officer of the Canadian firm, said in an interview in Beijing on Monday. Milewski said he has at least 17 such meetings lined up in major Chinese cities over the next three days.

“There’s a lot of interest and it is natural because it is where all this will happen,” Milewski said, declining to identify the companies. “China is going to be the world leader of electric vehicles.” Continue Reading →

Orefinders gets into the cobalt game – by Staff (Northern Ontario Business – March 26, 2018)

https://www.northernontariobusiness.com/

Power Ore is the name of the spinoff company being created by Orefinders Resources to work its cobalt properties in northeastern Ontario.

By way of a court-approved plan of arrangement, Power Ore picks up Orefinders’ silver-cobalt assets, the former Mann silver-cobalt mines, and MacMurchy nickel property in the Gowganda district.

The arrangement is subject to approval by the TSX Venture Exchange. Power Ore is targeting to list on the exchange soon after receiving approval from Orefinders’ shareholders at a special meeting on May 4. Continue Reading →

RNC mulls selling Aussie mine to focus on massive cobalt-nickel project in Quebec – by Cecilia Jamasmie (Mining.com – March 22, 2018)

http://www.mining.com/

Canada’s RNC Minerals (TSX: RNX) said Thursday it might sell all or part of its Beta Hunt gold and nickel mine in Western Australia to focus instead on its Dumont cobalt and nickel project in Quebec, the world’s largest undeveloped reserve of both metals.

The Toronto-based miner, which acquire Beta Hunt in 2016, said while it has grew the scale of the operation ever since, such asset is now considered to be non-core to RNC, particularly since Dumont’s potential value is significantly greater than the Australian mine’s current worth.

The company, however, did say it would consider other strategic alternatives for Beta Hunt, adding that no decision about the mine future has been made at the time. Continue Reading →

EV adoption rate reaching critical mass as search for ethical cobalt heats up – by Henry Lazenby (MiningWeekly.com – March 20, 2018)

http://www.miningweekly.com/

VANCOUVER (miningweekly.com) – Cobalt company Cobalt 27 is seeing an ideal storm brewing for its key commodity as the adoption rate of electric vehicles (EVs) accelerates faster than even optimistic forecasts had speculated.

“Cobalt 27 is a proxy for the adoption of the EV,” executive chairperson Anthony Milewski told Mining Weekly Online in an interview. “What our most recent raise tells one is that the thematic is picking up pace.”

He pointed to the EV adoption rate hitting 1.8% at the end of 2017. “Currently, Wall Street has projections for 2025 of an EV penetration rate of 15%. Continue Reading →

Battery makers descend on Australia, Canada cobalt developers – by Melanie Burton and Nicole Mordant (Reuters U.S. – March 19, 2018)

https://www.reuters.com/

MELBOURNE/VANCOUVER (Reuters) – Nervous Asian battery makers are turning to early-stage cobalt projects in Australia and Canada to lock in supplies of the critical battery ingredient ahead of expected shortages as demand for electric vehicles revs up.

Mine developers say interest from Japanese and Korean firms is particularly strong as they compete with rivals from China, which has built deep supply chain ties with the Democratic Republic of Congo, the world’s top producer.

The central African country accounts for nearly two-thirds of global cobalt output and production is set to rise despite concerns over the use of child miners and rising royalties. “We are starting to see the first signs of an arms race to secure long term cobalt supplies,” said Joe Kaderavek, chief executive of Australia’s Cobalt Blue (COB.AX). Continue Reading →

First Cobalt Buys Idaho Explorer in Race to Supply Battery Boom – by Danielle Bochove (Bloomberg News – March 14, 2018)

https://www.bloomberg.com/

First Cobalt Corp. is seeking to speed up its timetable to begin producing cobalt, riding the wave of interest in the metal used in electric-vehicle batteries and smartphones.

The Vancouver-based exploration company agreed to buy explorer US Cobalt Inc., which has properties in Idaho, in an all-stock deal with an implied equity value of about C$149.9 million ($116 million). Trading in the two companies’ shares was suspended.

“We’re trying to fast-track our way into North American mining and refining,” First Cobalt Chief Executive Officer Trent Mell said in an interview. Continue Reading →

Commentary: Apple and the vertical transformation of mining – by Kurt Breede (Northern Miner – February 26, 2018)

The Northern Miner

Kurt Breede, P.Eng. is the Director of Industry Partnerships at the Lassonde Institute of Mining, University of Toronto, one of the leading mining research institutes in Canada. The views and opinions expressed in this article are those of the author.

Earlier this month, Bloomberg reported that Apple Inc. was in direct talks with an undisclosed mining company to secure long-term cobalt supplies to support the mounting demands of the company’s power hungry device lineup.

Cobalt, a hard, silver-grey metal once used for jewellery and paints, is the primary component for today’s lithium-ion batteries. Valued at over US$37 per lb. — an increase of 100% from just the year before — the metal is a coveted chalice for power hungry manufacturers seeking footholds in the ever narrowing space.

The potential deal would mark one of several negotiated by vertically integrated manufacturers (VIMs) in recent months to secure supplies of metals required to satisfy expanding production targets. BMW, Volkswagon and Samsung are just some of the industry giants rallying to align themselves with raw material producers. Continue Reading →

Scarce, expensive cobalt essential for electric cars – by Terry Cain (Globe and Mail – February 27, 2018)

https://www.theglobeandmail.com/

The recent market turmoil has knocked back the value of most asset classes. But one group has held up surprisingly well. After rising dramatically in 2017, certain scarce metals, such as cobalt and lithium, continue to be hot commodities. In fact, the price of cobalt has set a new record high. So what is driving this rally, can it continue, and how can investors benefit?

The key factor driving these metals is surging demand for lithium-ion batteries. These power sources are the most popular kind of rechargeable batteries used in home electronics, as well as electric vehicles. Production and sales of these batteries have taken off as global sales for these products surge.

As the name indicates, one of the key ingredients in lithium-ion batteries is lithium. The price of the silvery-white metal, sometimes called “white gold,” has spiked by nearly 500 per cent over the past five years, though it has pulled back in the first part of this year. Australia and South America are the main lithium producers. Continue Reading →

Pandering to electric-vehicle owners contains blind spots – by Konrad Yakabuski (Globe and Mail – February 28, 2018)

https://www.theglobeandmail.com/

Electric-vehicle sales more than doubled in Ontario in 2017 as rebates worth up to $14,000 per car propelled the province past Quebec to become Canada’s EV leader. Many electric-car fans celebrated this as proof that Ontario’s latest incentives to encourage EV sales are working.

Working for them, maybe. But what about for taxpayers and the planet? We already know that government rebates on EV purchases are a horrendously expensive way to reduce carbon. Encouraging consumers to move to smaller gasoline-powered cars by increasing sales taxes on fossil fuels would do so much more to cut emissions.

What’s more, it is now becoming clear that mining the massive amounts of cobalt and lithium needed to manufacture the bigger batteries required to increase EV range and reliability risks creating a slew of unintended social, economic and environmental consequences. Continue Reading →

Agnico Eagle Is Reviewing Cobalt Assets After Receiving Interest – by Danielle Bochove and Susanne Barton (Bloomberg News – February 26, 2018)

https://www.bloomberg.com/

Agnico Eagle Mines Ltd. is dusting off cobalt assets in Ontario for potential sale as a global search for the rechargeable-battery ingredient expands amid surging demand.

The gold producer is doing an analysis of its Canadian cobalt holdings after receiving five or six inquiries, Chief Executive Officer Sean Boyd said Monday in a Bloomberg TV interview at the annual BMO mining conference in Florida.

The move comes at a time when manufacturers are seeking to secure cobalt on behalf of battery makers as demand heats up from the electric-vehicle and mobile-phone industries. Continue Reading →