Cobalt, Critical, Strategic and Rare Earth Minerals and Metals – Page 82

Voisey’s Bay poised to capitalize on demand for cobalt, but Vale silent – by Terry Roberts (CBC News NL – February 06, 2018)

February 6, 2018

http://www.cbc.ca/news/canada/newfoundland-labrador/

Sources say ballistic surge in cobalt prices makes underground mine project more likely

A ballistic surge in the price of cobalt could mean positive things for Labrador’s Voisey’s Bay mine, but if executives at Vale are excited, they certainly aren’t saying.

Reuters is reporting that the Brazilian mining giant, which owns the Voisey’s Bay mine and processing facility at Long Harbour, Placentia Bay, is looking to cash in on cobalt.

The international news agency is reporting that Vale is looking to sell unmined cobalt, worth hundreds of millions of dollars, to investors and that could be a positive sign as the company decides whether to proceed with an underground mine at Voisey’s Bay.

Electric Cars and Niche Metals Lure Cash to Africa’s Mines – by Thomas Wilson and Thomas Biesheuvel (Bloomberg News – February 2, 2018)

February 2, 2018

https://www.bloomberg.com/

Rising commodity prices may have revived enthusiasm for African resources, but it’s unlikely to be the old mainstays of coal and iron ore pulling crowds next week as the mining industry meets in Cape Town.

The electric-vehicle boom and shifting industrial demand have transformed formerly niche metals — from lithium and cobalt to praseodymium and neodymium — into the hot new drawcards of African mining.

Far smaller and cheaper than the gargantuan mine, port and rail developments pursued by the likes of BHP Billiton Ltd. and Rio Tinto Group during the last boom, these next-generation mines may stand a better chance of success.

Here are five metals grabbing attention across the continent.

Glencore flags sharp rise in cobalt production – by Neil Hume (Financial Times -January 31, 2018)

February 1, 2018

https://www.ft.com/

Cobalt prices have soared amid rising demand for batteries to power electric vehicles

Glencore, the Swiss miner and commodity trader, has flagged a big increase in cobalt production as one of its biggest copper mines restarts production.

The London-listed group said it expected to produce around 39,000 tonnes of the metal this year, up from 27,400 tonnes last year, as its Katanga mine in the Democratic Republic of Congo come back on stream following a big investment programme.

The mine was closed in 2015 so that Glencore could upgrade its processing facilities. The company estimates it could produce as much as 20,000 tonnes of cobalt a year by 2019.

Miners Face Sudden Cost Increases After Congo Law Overhaul – by William Clowes and Thomas Wilson (Bloomberg News – January 31, 2018)

January 31, 2018

https://www.bloomberg.com/

The Democratic Republic of Congo canceled contract guarantees and hiked a key royalty in sweeping last-minute changes to a mining law that will have immediate financial costs for every mining project in the country.

The country’s parliament finalized a revised mining code on Jan. 27, after both the lower and upper houses introduced increasingly onerous fiscal and regulatory reforms to already contested legislation. The modifications significantly raise the cost of doing business for investors in Africa’s biggest copper producer, while boosting the state’s share of mining revenue.

Lawmakers went ahead with the changes even after Glencore Plc Chief Executive Officer Ivan Glasenberg met Congolese President Joseph Kabila to discuss the proposed law.

Bidders for $500m Canada streaming deal as cobalt price surges–report – by Frik Els (Mining.com – January 30, 2018)

January 31, 2018

http://www.mining.com/

Cobalt prices have been one of the main beneficiaries of the scramble for battery materials by auto manufacturers.

The metal quoted on the LME recently topped $80,000 a tonne, a gain of 140% since the beginning of last year. Measured from its record low hit in February 2016, the metal is more than $50,000 more expensive.

Annual production of the raw material is only around 100,000 tonnes with the bulk coming from the Democratic Republic of the Congo, where fears about political instability and the challenges of ethical sourcing combine to supercharge supply concerns.

A small town in Quebec could power the next wave of electric cars – by Ashley Renders (Vice News – January 30, 2018)

January 31, 2018January 30, 2018

https://news.vice.com/

But Sudol doubts recycling would satisfy the demand for batteries.
The global population is growing and people want cell phones, cars,
urban transportation and a higher standard of living—all of this
is metal intensive, says Sudol. If we can’t dig for these metals
in a place like Quebec, which has strong restoration policies and
labour laws, “then where on Earth are we going to get these metals?”
he asks.

In other words, as long as car companies and cell phone companies
are clamoring for battery metals, Sudol sees only two options:
child miners in the DRC or rule of law in Quebec.

A small town in Northern Quebec could hold the keys to a future where electric vehicles are the norm.

A Toronto-based mining company called RNC Minerals Corporation wants to build a “battery metals” mine near Amos, Quebec, a town of less than 13,000 people that sits on the largest untouched deposit of nickel sulphide and cobalt in the world, according to S&P Global Market Intelligence data cited by a company report.

Laurentian University researchers put Cobalt camp under the microscope – by Staff (Northern Ontario Business – January 25, 2018)

January 26, 2018

https://www.northernontariobusiness.com/

First Cobalt Mining conducting in-depth study of historic silver district

First Cobalt Mining, the biggest exploration player in the Cobalt camp, is bringing a Laurentian University researcher into the fold to better understand the geology of its properties in northeastern Ontario.

The Toronto company announced it’s embarking on a dedicated research partnership program with the university’s Mineral Exploration Research Centre (MERC) by sponsoring a post-doctoral position to carry out the first detailed study of major structural features in the 110-year-old history of the camp.

“We’re looking at it from a new set of eyes as researchers,” said Ross Sherlock, who oversees MERC’s Metal Earth project. “It’s an unusual geological assemblage.” MERC is the geoscience arm attached to Laurentian’s Harquail School of Earth Sciences, under the umbrella of the Goodman School of Mines.

America’s Troubling and Growing Reliance on Foreign Minerals – by Mark J. Perry (Inside Sources – January 24, 2018)

January 25, 2018

http://www.insidesources.com/

To grasp the seriousness of America’s heavy reliance on imports of strategically important minerals, consider that many of the metals needed for weapons systems and a wide array of consumer products come from countries that don’t always have our nation’s best interests in mind.

Once the undisputed global leader in minerals production, the U.S. mining industry is now well on its way to second-tier status. Domestic mines have been closing, leading to a 13 percent drop in our nation’s share of global investments in metals mining over the past decade and an increased reliance on minerals imports. Last year, American companies spent more than $7 billion on imported minerals.

According to the U.S. Geological Survey, U.S. dependence on minerals from abroad has doubled in the last 20 years, and we are now import-dependent on more than half of 50 key mineral commodities and 100 percent import-dependent for 20 of those, including manganese, tantalum and rare earth minerals such as neodymium, samarium and dysprosium, which are crucial in the manufacture of jet fighter engines, antimissile defense systems, night vision goggles and smart bombs, among other advanced weapons systems.

Congo mining code passes Senate without opposition (Reuters U.S. – January 24, 2018)

January 25, 2018

https://www.reuters.com/

KINSHASA (Reuters) – Democratic Republic of Congo’s new proposed mining code, which the industry has warned will stifle investment in the copper and cobalt-rich nation, sailed through the Senate without opposition late on Wednesday.

A version passed by the National Assembly – Congo’s lower house of parliament – last month would increase taxes and royalties, including potentially more than doubling royalties on cobalt, a key ingredient in lithium-ion batteries.

Nearly two-thirds of the world’s cobalt comes from Congo. Demand for the metal has surged due to expected growth in the electric vehicle sector, causing the price on the London Metal Exchange to triple over the last two years.

Second life for historic Cobalt silver camp – by Karen McKinley (Northern Ontario Business – January 18, 2018)

January 19, 2018

https://www.northernontariobusiness.com/

Historic mining area near Ontario/Quebec border garnering attention for cobalt resources

The land around the town of Cobalt, despite the name, was once one of the richest silver finds in the nation. Decades after that boom ceased, another one is on the horizon, this time for the town’s namesake.

As demand for electric vehicles grows across the world, one company is taking a second look at the cobalt resources that were once thrown away.

First Cobalt Corp. gave a Jan. 16 presentation in Sudbury on their latest findings and plans to drill on several properties they purchased near Cobalt, many of them historical silver mine sites, to determine the scope and quality of the cobalt resources.

WoodMac urges automakers to ‘get out their chequebooks’, secure energy metal supplies – by Henry Lazenby (MiningWeekly.com – January 17, 2018)

January 18, 2018

http://www.miningweekly.com/

VANCOUVER (miningweekly.com) – Auto manufacturers are ramping up strategies to cash in on the accelerating worldwide acceptance and demand for electric vehicles (EVs), prompting advice from research and consultancy group Wood Mackenzie for automakers to ‘get out their chequebooks’ and take stakes in mines or new mine projects to lock-in future supply.

WoodMac issued a statement on Tuesday, following news that Ford will boost its investment in EVs to $11-billion between 2015 and 2022 – a sharply higher figure than a previously announced target of $4.5-billion by 2020.

Ford also revealed plans to expand its electrified portfolio to include 40 electrified vehicles globally, including 16 full-battery EVs by 2022. It outlined plans to accelerate investment in EVs and sportd utility vehicles (SUVs).

Car makers may need to take a stake in mines: Wood Mackenzie (Mining Journal – January 17, 2018)

January 17, 2018

http://www.mining-journal.com/

Car makers may need to “get out their chequebooks” and take a stake in mines to guarantee materials for their shift to electric vehicles, according to research and consultancy group Wood Mackenzie.

The comments follow automotive giant Ford’s announcement yesterday it would invest US$11 billion by 2022 in electrification, and expand its line-up to 40 EVs globally including 16 full battery EVs by 2022.

Wood Mackenzie director metals markets Gavin Montgomery said Ford planned to use NMC lithium-ion batteries in its EVs and it would be a challenge securing supply of the key raw materials, namely lithium, nickel and cobalt.

Modern slavery: the true cost of cobalt mining (Hermes Investment Management – January 16, 2018)

January 17, 2018

https://www.hermes-investment.com

Investment capital permeates the global economy, underpinning businesses and supply chains across regions and industries. We believe that investors should not only be aware of the potential for their capital to generate returns but its impact on society and the environment. One such sustainability concern is cobalt mining.

Thousands of artisanal miners dig by hand in the Democratic Republic of Congo (DRC). Children, too. They have no industrial tools, no protective clothing, no hard hats, not even facemasks to shield toxic dust or shoes. They are searching for cobalt, the rare-earth metal powering the mobile revolution.

Cobalt is an essential component of rechargeable lithium-ion batteries. The end product may be in your pocket, on your desk, in your garage, or even in your investment portfolio. It powers most electronic gadgets, including smartphones and laptops, and electric vehicles.

Column: Why cobalt will struggle to free itself from the DRC – by Andy Home (Reuters – January 15, 2018)

January 15, 2018

https://www.reuters.com/

LONDON (Reuters) – The cobalt market will record a supply surplus both this year and next, according to heavyweight commodities research house CRU. This might seem a little surprising, given all the bullish hype surrounding a metal that more than doubled in price last year.

CRU itself has drastically revised its original assessment of a sustained supply shortfall due to strong demand growth from the battery sector. What has changed its mind?

In short, it’s the return of the Katanga mine after two years of suspended activities. Once fully operational, Katanga will be the “largest cobalt-producing mining project in the world”. (CRU Insight, Jan. 4 2018)

NEWS RELEASE: RNC Minerals Plans Initiatives To Allow Decision To Begin Construction Of Dumont Nickel-Cobalt Project In 2019; Highlights Large Nickel And Cobalt Reserves

January 15, 2018

http://www.rncminerals.com/

TORONTO, Jan. 15, 2018 /CNW/ – RNC Minerals (TSX: RNX) (“RNC”) expects to undertake a series of initiatives during 2018 to position the company to make a decision to begin construction of the Dumont Nickel-Cobalt Project, which contains the world’s largest undeveloped reserves of both cobalt and nickel, in 2019.

With many market participants expecting explosive growth in nickel and cobalt demand from the electric vehicle market over the coming decade, RNC continues to be approached by a number of potential strategic investors, offtake partners and financiers who could provide the financing required to begin construction.

“The Dumont Nickel-Cobalt Project, one of the world’s premier battery metals projects, contains the world’s largest undeveloped reserves of both cobalt and nickel. It also contains the 2nd largest nickel reserve and the 8th largest cobalt reserve of any deposit in the world,” said Mark Selby, President and CEO of RNC Minerals.