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Fortune Minerals Ltd T.FT

Alternate Symbol(s):  FTMDF

Metals & Mining Industrial Metals & Minerals
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

Fortune Minerals Ltd
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Post by Allmanon Jan 05, 2023 6:54am
243 Views
Post# 35204271

EV Battery Manufacturing Capacity in North America in 2030

EV Battery Manufacturing Capacity in North America in 2030"A wave of new planned electric vehicle battery plants will increase North America’s battery manufacturing capacity from 55 Gigawatt-hours per year (GWh/year) in 2021 to nearly 1,000 GWh/year by 2030. Most of the announced battery plant projects are scheduled to begin production between 2025 and 2030." 

If say 70% of this 1,000 GWh is in the form of lithium-ion batteries and according to Benchmark Mineral Intelligence, a 35 GWh battery factory requires 6,000 metric tons of cobalt per year, then the aggregate North American cobalt requirement will be 120,000 metric tons per year.
That's a lot of cobalt that will need to be sourced from mines within North America or countries that the US has a FTA with.

https://www.energy.gov/eere/vehicles/articles/fotw-1271-january-2-2023-electric-vehicle-battery-manufacturing-capacity

https://www.miningnewsnorth.com/story/2021/09/16/critical-minerals-alliances/solving-the-critical-cobalt-conundrum/6979.html


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