Fortune Minerals Ltd T.FT

Strengthening CM security of supply - European Union

[Allman]

The following is macro in nature which may frustrate some, but in the absence of specific FT info, others may find in interesting and relevant, especially with EU Critical Raw Materials Act to be released on March 14.
A recent study was conducted for the EU parliament pertaining to "Strengthening the security of supply of products containing Critical Raw Materials for the green transition and decarbonisation". Some interesting points about bismuth and cobalt were identified that arguably only improve the prospects for the likes of FT.

• Bismuth was identified as having a high supply risk (p 57, table 14). Note, 84% of EU bismuth imports are from China.

As per the new EU Critical Raw Materials Act, the EU aims to set a benchmark to not be dependent on a single third (e.g. China) country for more than 70% of imports. https://www.euractiv.com/section/economy-jobs/news/leak-eu-commission-wants-10-of-critical-raw-materials-mined-in-europe/
 

• Re. cobalt, the study looks at a scenario of reducing cobalts supply risk by explicitly identifying Canada and Australia as alternate (albeit hypothetical) sources (p 55, table 11). Depending on how serious the EU is about ESG standards will ultimately define how hypothetical the scenario is.

https://www.europarl.europa.eu/thinktank/en/document/IPOL_STU(2022)740058

[elitespooner]

'ol Biden eating ice cream while europoors still trying to make a plan

[red]

Not exactly sure why there would be any argument on the improved macro for FT, it's clearly been going on for at least 2-3 years ....then again we are the biggest known BI deposit on the earth, riddled with the only permited propimary cobalt deposit in NA which should be notable in any circles, especially of which a discussion on Bi occurs. I guess the bigger question is what have we been