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Fortune Minerals Limited. T.FT

Alternate Symbol(s):  FTMDF

Metals & Mining Industrial Metals & Minerals
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

Fortune Minerals Limited. > US Blame China CMOC for Predatory Tactics Behind Cobalt Glut
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Post by Allmanon May 15, 2024 7:36am
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Post# 36040544

US Blame China CMOC for Predatory Tactics Behind Cobalt Glut

US Blame China CMOC for Predatory Tactics Behind Cobalt GlutChina’s CMOC Group Ltd. is being accused by a top US official of using “predatory” tactics to depress prices of a key battery metal by flooding the market with cobalt from Democratic Republic of Congo mines. ...
“In the case of cobalt, there’s a company called CMOC which is driving this oversupply and that’s keeping prices down,” Fernandez told Bloomberg in a separate interview. ...
Cobalt prices are expected to rise before the end of the decade as need for the mineral explodes along with demand for electric vehicles according to the Cobalt Institute report. Even Congo is considering a quota on cobalt exports to bolster prices. ...
“You know that at some point, prices will stabilize,” the US’s Fernandez said. “And so what we’d like to see is find ways to help Western companies stay in the game.”

https://www.bnnbloomberg.ca/us-blames-china-s-cmoc-for-predatory-tactics-behind-cobalt-glut-1.2072932
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