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Fortune Minerals Ltd T.FT

Alternate Symbol(s):  FTMDF

Fortune Minerals Limited is a mining company. It is engaged in the exploration and development of mineral properties in Canada. It is focused on developing the NICO Cobalt-Gold-Bismuth-Copper Project in the Northwest Territories and Alberta that produces a bulk concentrate for shipment to a refinery that it plans to construct in southern Canada. It also owns the satellite Sue-Dianne copper-silver-gold deposit located 25 kilometers (km) north of the NICO Deposit and is a potential future source of incremental mill feed to extend the life of the NICO mill and concentrator. It also maintains the right to repurchase the Arctos anthracite coal deposits in northwest British Columbia. It also has a 100% interest in these 116 hectares of property south of Great Slave Lake with copper, silver, gold, lead and zinc showings. It has a 1% net smelter royalty covering 78 hectares of land positioned in a former silver mining district, located south of the Eldorado mining district at Great Bear Lake.


TSX:FT - Post by User

Post by Lottenon Jun 22, 2022 3:33am
461 Views
Post# 34773059

Interesting From IEA

Interesting From IEATaken from the report:


"Lithium-ion batteries are an important consumer of cobalt, and how
their cathode chemistries evolve will play a key role in determining
the pace of cobalt demand growth, especially in the near term.
However, even if the adoption of high-cobalt chemistries slackens,
cobalt demand for use in clean energy technologies is still set to grow
in climate-driven scenarios due to the sheer growth in EV sales.

Cobalt prices more than doubled in 2021 and continued to increase
in early 2022, driven by geopolitical tensions, Africa’s logistical
challenges and reduced cobalt refinery production in China. The war
in Ukraine and associated fallout have further tightened cobalt
availability, with prices up by 15% in the month following the invasion.
The severe flooding in South Africa also disrupted export routes from
the DRC, the largest raw material producer, to China, the largest
refiner.

Several new projects and expansions have been announced in the
past year, which could lead to notable production growth in the years
ahead. Huayou, EVE Energy and others announced a USD 2.1 billion
smelter in Indonesia (Weda Bay), with target annual production of

15 kt cobalt and 120 kt nickel. In the DRC, the announced
USD 2.5 billion expansion of the Tenke Fungurume mine could boost
annual cobalt production by 17 kt, while the USD 600 million
expansion of the Kinsevere project could boost annual cobalt
hydroxide production by 4-6 kt. The Sunrise project in Australia could
produce an additional 4 kt cobalt. In Canada, Electra Battery
Materials Corporation plans to build cobalt sulphate production
plants, together with a lithium-ion battery recycling facility."

https://www.iea.org/reports/world-energy-investment-2022


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