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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 Apr 04, 2024 1:03pm
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Post# 35970733

Congo Suspends ERG Subcontractors at Major Cobalt Mine

Congo Suspends ERG Subcontractors at Major Cobalt MineAnother reason why cobalt should be sourced domestically from a safe and predictable jurisdiction  ...
  • Starting from 2026, under the three-year supply agreement, ERG will deliver 3,000 tonnes per annum of IRA-compliant cobalt to Electra’s refinery north of Toronto
  • Cobalt will come from ERG’s Metalkol operation in the Democratic Republic of the Congo, one of the largest cobalt hydroxide facilities globally
The Democratic Republic of Congo has suspended nine subcontracting companies working at mines run by Eurasian Resources Group, as the cobalt and copper producer faces fresh complications in the country. 
The latest measures affect firms with contracts at ERG’s two operating projects in Congo: Metalkol, which was the world’s fourth-biggest source of cobalt last year, and Frontier, which produced more than 100,000 tons of copper in 2023.

https://www.bnnbloomberg.ca/congo-suspends-erg-subcontractors-at-major-cobalt-mine-1.2055056
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