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Fortune Minerals Limited. T.FT

Alternate Symbol(s):  FTMDF

Fortune Minerals Ltd is a Canadian mining and mine development company focused on developing the NICO Cobalt-Gold-Bismuth Copper Project in the Northwest Territories. The company plans to build a hydrometallurgical plant in southern Canada to process NICO metal concentrates. Fortune also owns the satellite Sue-Dianne Copper-Silver-Gold Deposit located 25 km north of the NICO Project, which is a potential future source of incremental mill feed to extend the life.


TSX:FT - Post by User

Post by Allmanon Aug 03, 2023 4:59pm
257 Views
Post# 35572109

Manganese Bismuth magnets to be produced by two companies

Manganese Bismuth magnets to be produced by two companies The US DOE recently unveiled its 2023 Critical Materials Assessment. In it, cobalt is and will continue to be a "critical" CM for the medium term, i.e. 2025 - 2035. Rare earth minerals such as Dysprosium, Neodymium and Terbium, which are used in permanent magnets are also deemed "critical" CMs, not only due to their importance to energy, but their even higher supply risk.
https://thedeepdive.ca/u-s-department-of-energy-unveils-2023-critical-materials-assessment/

"Since the 2011 RE [Rare Earth] crisis, researchers started working on RE-free PM [permanent magnets] with sufficient energy density and thermal stability. Manganese bismuth (MnBi) emerged as a promising RE-free PM material."
https://www.sciencedirect.com/science/article/abs/pii/S0304885322007971?via%3Dihub

There are now two companies that are pursuing mass production / commercialization of these manganese bismuth magnets as a substitute for Rare Earth magnets, PowderMet Inc (https://www.pm-review.com/researchers-optimise-rare-earth-free-magnets-through-microstructure-engineering/) and DA Technology/Korecen (https://www.prnewswire.com/news-releases/rare-earth-free-permanent-magnet---da-technology-co-ltd-and-korecen-co-ltd-jointly-completes-prototype-production-of-mn-bi-based-permanent-magnet-301873961.html).

The use and application of permanent magnets is mind boggling and their associated RE minerals are not exactly abundant, especially in friendly jurisdictions. This represents a hugh market potential for these manganese bismuth magnets and should be another recent significant reason which  generates an interest in FT's bismuth reserves, one would think.

 

 
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