RE:RE:RE:RE:Biden promises cash. Is FT on the list. Some food for thought re planned US and Canada cobalt refining capacity ...
Trifigura is planning to build a cobalt refinery in Arizona with an annual capacity of 7,000 tonnes which they claim will satisfy 40% of 2027 US domestic EV production.
Electra is planning to refine 5,000 tonnes of cobalt annually with a potenial to expand to 6,500.
FT is planning to refine 1,800 tonnes of cobalt annually
So using the 40% value, gives a total US domestic refined cobalt (sulphate) requirement of 17,500 tpa. Including Canada's needs, assume at total of 20,000 tpa (US and Canada).
In percentage terms re US and Canada, planned annual cobalt sulphate production capacity is;
Trifigura would produce 35%
Electra would produce 32.5% (assuming max production potential)
FT would produce 9% Total North American cobalt sulphate production = 76.5%
Seems like there's room for FT refined cobalt sulphate, especially when only considering EV needs, but then again there's also customers for their cobalt and other metals feedstocks - options which FT has explored. It'll be interesting to see how this plays out.
https://www.fortuneminerals.com/news/press-releases/press-release-details/2018/Fortune-Minerals-Provides-NICO-Technical-Report-Update/default.aspx https://www.trafigura.com/press-releases/trafigura-and-evelution-energy-sign-memorandum-of-understanding-on-us-cobalt-processing-facility/