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Bullboard - Stock Discussion Forum
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.
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TSX:FT - Post Discussion
Fortune Minerals Limited.
> The critical-mineral sector is braced for a nearly 100-fold
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(35)
•••
Spuds21
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Post by
Spuds21
on Apr 06, 2023 12:25pm
The critical-mineral sector is braced for a nearly 100-fold
That number looms large in the mind of
Nigel Steward
, chief scientist at the mining giant
Rio Tinto
. “We’ve got a big, big challenge on our hands,” he told me this week during a panel at the U.S.-Canada Summit hosted by the
Eurasia Group
and
BMO
in Toronto.
With at least 98 per cent of the zero-emissions vehicle transition ahead of us—Bloomberg data
suggested
EVs may have reached two per cent of the world’s fleet at the end of last year—we'd need to replace a huge share of the 1.2 billion light-duty passenger vehicles now on the road, only 20 million of which plug in. And we need to produce the minerals needed for EV batteries—lithium, cobalt, nickel and more—with less fossil fuels.
Is that realistic?
Jose Fernandez, U.S. State Department under secretary for economic growth, energy, and the environment, speaks to The Logic's Anita Balakrishnan, at the U.S.-Canada Summit.
A lot needs to change, panellists told me at the event, which focused on big issues that the U.S. and Canada are tackling together. A few of the shifts required:
Intellectual property protections:
The U.S., Canada and our allies must share and protect the IP of critical-mineral extraction startups, said
Nazak Nikakhtar
, a national-security lawyer at
Wiley Rein
and former U.S. Commerce assistant secretary at the International Trade Administration.
Deeper investing from automakers: General Motors
Canada president
Marissa West
said seriously cutting tailpipe emissions will “take partnerships and joint ventures, not supply agreements" between vehicle manufacturers and mining companies.
BMO
Capital Markets managing director
Rahim Bapoo
said the bank’s massive mining division is reorganizing to drum up more partnership deals, calling the rush to fund and build critical-mineral mines a “call to arms.”
“We need to build 100 new lithium mines, and a lot more graphite mines, manganese and cobalt,” he said. “You start thinking about the scale of the problem, ticket sizes of a billion or two billion dollars. That starts to become a really big number, really quickly.”
Stop outsourcing mineral processing: Jonathan Evans
, the CEO of
Lithium Americas
noted that key critical-mineral processing methods were developed in North America before overseas players like China came to dominate the industry.
“It's not that we don't know what to do or how to do it; it's just we chose not to,” he said.
Yes, but:
Despite the time crunch to get minerals out of the ground, panellists said companies and governments cannot cut corners on consultations with Indigenous communities and local residents; rather, they should bring them in as early as the design stage of the mining and development process.
“To succeed, we're going to have to convince communities, convince environmental groups, NGOs,”
Jose Fernandez
, the U.S. under secretary in charge of energy and supply-chain security, told me. “We will not make you choose between economic prosperity and environmental degradation.”
(51)
•••
elitespooner
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Comment by
elitespooner
on Apr 06, 2023 5:13pm
https://news.mongabay.com/2023/04/after-150-years-of-damage-to-people-and-planet-rio-tinto-must-be-held-to-account-commentary/
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