NEW YORK, April 27, 2017 /PRNewswire/ --
The demand for new energy sources has propelled innovation in recent years and this has led to more efficient clean energy
sources being introduced to old industries. One of the more prominent examples is the rechargeable battery market which has
drastically changed, thanks the wider roll lithium and cobalt markets. Cobalt-based lithium-ion batteries are now widely
used to power electric and hybrid vehicles. According to a report by Reuters, Consultants CRU Group said electric car and plug-in
hybrid vehicle sales could hit 4.4 million in 2021 and more than six million by 2025, from 1.1 million last year. Prices for the
cobalt metal are now at about 25 USD/lb which is an increase of about 92% since 6 months ago. Earlier in October 2016, the price of Cobalt was around 13 USD/lb. Scientific Metals Corp.
(OTC: SCTFF) (TSX-V: STM), Freeport-McMoRan Inc. (NYSE: FCX), FMC Corp. (NYSE: FMC), Honda Motor Co., Ltd. (NYSE: HMC), Ford
Motor Co. (NYSE: F).
"Future demand for cobalt from the EV (electric vehicle) sector is looking tangible and is more positive than originally
expected," one commodity-focused fund manager said according to Reuters. "China has some
aggressive plans in terms of electric vehicles. It will be a major driver behind cobalt consumption growth." The U.S. government
has also realized the potential of the metal, as Cobalt is also widely used for superalloys in turbines, space vehicles, rocket
engines and power plants. Earlier in 2014, the U.S.'s Defense Logistics Agency deemed lithium cobalt oxide and lithium nickel
cobalt aluminum oxide compounds as strategic and has been stockpiling since then.
Scientific Metals Corp. (OTCQB: SCTFF) (TSX-V: STM) announced yesterday that the Company has launched its 2017
exploration program at the Iron Creek Cobalt Project, initially commencing with the rehabilitation of the underground
workings.
The Company is finalizing plans with a claim staking contractor to expand the size of the property through claim staking, and
will commence claim staking soon, as the snow pack melt allows. Surface and underground drilling campaigns are in the final
stages of planning, and will follow underground and surface mapping and sampling programs. All work will be conducted on the
patented lode mining claims which cover the historic claims which have already been identified. Please see Company news release
dated September 7, 2016 for a summary of the project.
The Company has commenced the rehabilitation of the portals to three underground tunnels which currently have a combined
length of 1,500 feet and access the mineralized zones. The first portal (Adit #1) now has new timbers installed at the surface,
and access has been gained to the entire length of tunnels connected to Adit #1. Further rehabilitation of the tunnels will be
completed prior to the planned underground sampling and mapping program which will be followed by underground drilling. A
contractor has been selected to complete the underground drilling.
The Company is in the final stages of negotiations with drilling contractors to conduct surface core drilling on the patented
lode mining claims, targeting the known mineralized zones during 2017. This drilling is designed to confirm the historic,
already identified, cobalt mineralization, and to explore for extensions. As previously announced, these historic resources
which do not conform to NI 43-101, contain 1,279,000 tons grading 0.59% cobalt - see Company news release dated September 7,
2016. The Company has the advantage of working from the results of the 30,000 feet of drilling that identified the historic
resources.
Freeport-McMoRan Inc. (NYSE: FCX) earlier in 2016 announced that it has entered into a definitive agreement to sell its
interests in TF Holdings Limited (TF Holdings) to China Molybdenum Co., Ltd. (CMOC) for $2.65
billion in cash and contingent consideration of up to $120 million, consisting of
$60 million if the average copper price exceeds $3.50 per pound and
$60 million if the average cobalt price exceeds $20 per pound, both
during the 24-month period between 2018 and 2019. In addition, FCX has agreed to negotiate exclusively with CMOC to enter into
definitive agreements to sell its interests in Freeport Cobalt, including the Kokkola Cobalt Refinery in Finland for $100 million and the Kisanfu Exploration project in the
Democratic Republic of Congo (DRC) for $50 million. Freeport
Cobalt includes the large-scale cobalt refinery located in Kokkola, Finland, and related
worldwide sales and marketing business, in which FCX holds an effective 56 percent interest. Kisanfu is a copper and cobalt
exploration project, located near Tenke in which FCX holds a 100 percent interest.
FMC Corp. (NYSE: FMC) serves the global agricultural, industrial and consumer markets with innovative solutions,
applications and quality products. The company operates its businesses in three segments: FMC Agricultural
Solutions, FMC Health and Nutrition and FMC Lithium. On February 9th the company
announced that it has received an A- from the CDP (formerly the Carbon Disclosure Project) climate change program, an
initiative dedicated to using measurement and disclosure to effectively manage carbon and climate change risk. The A- ranking
places FMC in CDP's 'Leadership' tier, recognizing the company as a leader in best practices for climate change action after its
first time reporting.
Honda Motor Co., Ltd. (NYSE: HMC) develops, manufactures and markets motorcycles, automobiles and power products across
the world. The Company's segments include Motorcycle Business, Automobile business, financial services business, and Power
product and other businesses. On March 23rd, Japan Post Co., Ltd. and Honda Motor Co., Ltd. began discussions and
signed a memorandum of understanding concerning the development and establishment of social infrastructure through postal
deliveries using electric motorcycles (hereinafter collectively called "electric vehicles") which will serve as an alternative to
the current gasoline-powered delivery motorcycles.
Ford Motor Co. (NYSE: F) is a global automotive and mobility company based in Dearborn,
Michigan. The company's core business includes designing, manufacturing, marketing and servicing a full line of Ford cars,
trucks and SUVs, as well as Lincoln luxury vehicles. To expand its business model, Ford is
aggressively pursuing emerging opportunities with investments in electrification, autonomy and mobility. On April 10th, Ford revealed the second of 13 new electrified vehicles the company plans to introduce in the next
five years. The industry's first pursuit-rated hybrid police car, the all-new Ford Police Responder Hybrid Sedan, is part of
a $4.5 billion Ford investment to make electric vehicles that give customers greater capability,
productivity and performance.
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