Fortune Minerals Limited. T.FT

Manganese Bismuth magnets to be produced by two companies

[Allman]

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.

 

 

[Jim1712]

And the largest known deposit is here.   I suspect there are eyes on the Nico deposit.   Jim 

[red]

In what world of "bismuth" could we not be considered by a specially group?  might this be a board room contact, who knows about us, that actually looks at this deposit for what it is?  Kudos to TTF who saw this years ago and reminded us of the potential hidden, amongst our cobalt, gold and copper and few words were ever spoken about it.  clearly now an great

[Allman]

Check out the New Material Permanent Magnet table at the bottom of the Korecen site link, which summarizes their manganese bismuth magnet development. Their stated advantage for this magnet is that is has a "rare earth free composition". Their stated disadvantage is "securing a stable Bi supply". Hello!  https://www.korecen.com/new/sub_material/material01.php

[red]

You would think we would be an obvious solution when we sit on the largest known undeveloped deposit on the earth and could be in operation in three or so years .....If that is anywhere close to their biggest problem then clearly those in some board rooms may not be as sharp as we hoped. However thier is a glimmer of hope ..

[Allman]

Considering MnBi magnets are being developed to alleviate China's stranglehold on rare earth magnets and currently China refines 84% of the world's bismuth, then it becomes apparent why "securing a stable Bi supply" is a top concern for Korecen - by and large, MnBi technical issues appear to have been resolved and a huge market potential exists. And, if this is a top concern for