Cobalt Miners News For The Month Of July 2019

Summary

Cobalt spot prices were slightly higher for the month of July.

Cobalt market news - Experts forecast a cobalt deficit post 2022.

Cobalt miners news - DRC military step in at Katanga's mine to control illegal miners after tragic accident. Fortune Minerals finds a new discovery at NICO.

Welcome to the July 2019 cobalt miner news. The past month saw cobalt prices slightly higher, and a quiet month for cobalt company news. Industry consolidation continues with several deals ongoing.

Cobalt price news

As of July 19, the cobalt spot price was US$12.93/lb, up slightly from US12.70/lb last month. The LME cobalt price is US$26,500/tonne. LME Cobalt inventory was 840 tonnes, a slight fall in July. More details on cobalt pricing (in particular the more relevant cobalt sulphate), can be found here at Fast Markets MB.

Cobalt spot prices - 1-year chart - USD US$12.93/lb

1 Year Cobalt Prices - Cobalt Price Chart

Source: InfoMine.com

Cobalt demand and supply

A good July 3 follow up article on cobalt demand v supply (cobalt cliff) from John Petersen concluded:

If Bloomberg’s demand forecasts are even close to accurate, battery manufacturers who make products for transportation and stationary applications will face crippling cobalt shortages that will drive a stake through the heart of global EV sales growth in 2023.

Source

On July 13 Reuters reported:

Why the cobalt market needs Congo's 'illegal' miners: Andy Home. CRU estimates that “average artisanal trader netbacks” surged 150% to $18 per lb between 2016 and 2017 with production unsurprisingly booming from 6,500 tonnes to over 19,000 tonnes......Analysts at Citi forecast the market to remain in surplus over 2019-2022 to the tune of between 4,000 and 14,000 tonnes per year. (“Cobalt 2019-2025 Outlook”, Dec. 4, 2018). However post 2022 with mine supply growth slowing, cobalt demand from EVs rising rapidly, and work in progress inventories rising notably, we expect the balances to shift into significant deficit, and prices to rise back to $80,000 per ton and potentially higher,” Citi says.

On July 15 Fastmarkets reported:

Battery and Supply chain conf: Six things we learned in Qiandaohu. Chinese cobalt metal buys should top up inventories when prices in China drop to 180,000 yuan per tonne ($10.52 per lb, less China-VAT). The latest price is also close to the lowest level in almost three years. But even as the current low price boosts some restocking, other market participants doubted such buying will cap the downtrend immediately or even revive the price, citing oversupply in the cobalt market.

Cobalt market news

On July 6 Kitco Media reported (audio): "Battery materials will bounce back - Benchmark Minerals (Andrew Miller)."

On July 8 Bloomberg reported:

Congo’s swing producers turn to copper after cobalt meltdown. Artisanal output of cobalt could drop 70% this year: Darton. Production of hand-dug cobalt in the Democratic Republic of Congo is poised to drop sharply after prices tumbled, prompting many of the country’s thousands of artisanal miners to switch focus to copper instead. Congo last year produced about 72% of the world’s cobalt.

On July 17 Investing News reported:

Cobalt Market Update: Q2 2019 in review. Cobalt prices continued their downtrend in Q2, with oversupply worries impacting investor sentiment toward the sector. However, demand for cobalt, a key metal in the lithium-ion batteries used to power electric vehicles (EVs), is still expected to surge in the long term. Many market participants continue to believe that demand will outstrip supply even if cobalt content in cathodes is reduced......In addition, after China reduced its subsidy policy, which came into full effect on June 25, the Chinese are fearing a dip in EV demand — fueling skepticism about the ramp up in production of EVs. “I don’t think that we will see a significant recovery in prices in 2019 without a major supply shock as the market continues to be in oversupply with the production ramp ups happening in the Democratic Republic of Congo (NYSE:DRC),” Rawles added.....“With prices as low as they are we are starting to see it impact the supply side of the market in various ways with production slowing or stopping altogether in some cases,” Rawles added.

Cobalt company news

Glencore [HK:805] [LSE:GLEN] (OTCPK:GLCNF)

On July 1 Glencore announced:

Publication of 2018 payments to governments report. Steve Kalmin, Chief Financial Officer, noted, "Our activities within our operating countries enable governments to monetise their natural resources. Governments can use the tax and royalty payments we make to provide its citizens with services and infrastructure that improve their quality of life. During 2018, our total payments to government were around $5.7 billion."

On July 8 4-traders reported:

Glencore: Congolese army fires in the air during protest near Glencore plant. Congolese soldiers fired in the air on Monday as illegal miners protested outside a metallurgical plant on a copper and cobalt concession run by Glencore, a witness said..... Glencore said that, prior to last week's eviction, about 2,000 illegal miners were entering KCC every day. The Lualaba government estimates that 170,000 informal miners operate across the province. (see also below under Katanga Mining).

Katanga Mining [TSX:KAT] (OTCPK:KATFF)

On June 27 Katanga Mining announced:

Announcement regarding fatalities of illegal artisanal miners at KCC. Kamoto Copper Company (KCC), a subsidiary of Glencore, has observed a growing presence of illegal artisanal miners throughout its industrial mining concessions in the Kolwezi area. This has led to daily intrusions onto its concession by on average 2,000 illegal artisanal miners per day. This has presented a significant risk to its employees, operating equipment and the illegal artisanal miners themselves.

On July 14 Katanga Mining announced:

Announcement regarding FARDC in area around Kamoto Copper Company. Katanga Mining Limited received confirmation today from its 75%-owned subsidiary, Kamoto Copper Company (“KCC”) that the armed forces of the DRC (FARDC) are in the area around the operations of KCC. This follows a growing presence of illegal artisanal miners throughout industrial mining concessions in the Kolwezi area, which led to the tragic incident at KCC on June 27, 2019.

You can also read my original article from January 1, 2017, "Katanga Mining is a potential turnaround story." Followers of mine who bought back then with me at CAD 0.13 and sold when I suggested Trend Investing subscribers to reduce at CAD 2.89 made a nice 2,123% gain in just over a year.

China Molybdenum [HKSE:3993] [SHE:603993] (OTC:CMCLF)

No news for the month.

Eurasian Resources Group ("ERG") - private

ERG own the Metalkol facility in the DRC where ERG processes cobalt and copper tailings with a capacity of up to 24,000 tonnes of cobalt pa.

On July 3 Eurasian Resources Group announced:

Eurasian Resources Group to further promote digital transformation through new and augmented partnerships with ARC Advisory Group and SAP.

Umicore SA [Brussels:UMI] (OTCPK:UMICY)

On July 3 Umicore SA announced:

Fire incident in Hoboken. This morning a fire broke out at a peripheral installation of the smelter at Umicore’s Hoboken plant. No casualties are reported. The fire brigade extinguished the fire. The impacted installation is currently shut down while the rest of the plant remains in operation.

Sumitomo Metal Mining Co. (TYO:5713) (OTCPK:SMMYY)

On June 25 Sumitomo Metal Mining Co. announced:

Notice Regarding the approval of the proposal "Renewal of countermeasures to large-scale acquisitions of Sumitomo Metal Mining Co., Ltd. shares (takeover defense measures)" at the 94th ordinary General Meeting of shareholders.

Sherritt International [TSX:S] (OTCPK:SHERF)

On June 26 Sherritt International announced: "Sherritt confirms mineral reserves and outlines increased mineral resources at Moa JV."

"Highlights of Mineral Reserve and Resource Estimates A comparison of the mineral reserve estimates in the 2018 AIF and 2019 Technical Report is summarized in the following table":

Source

MMC Norilsk Nickel [LSX:MNOD] [GR:NNIC] (OTCPK:NILSY)

No significant news for the month. I did come across a good slide from their May 2019 presentation. The 80 year mine life at their Taimyr Peninsula mine is impressive.

Source

Investors can also read my article: "Time To Buy Norilsk Nickel Before The Nickel Boom Perhaps Starts In 2018, or my article "An update on Norilisk Nickel."

Possible mid-term producers (after 2022)

RNC Minerals [TSX:RNX] (OTCQX:RNKLF)(formerly Royal Nickel Corporation)

On June 27 RNC Minerals announced: "RNC Minerals announces 390% increase in measured and indicated gold mineral resource for the Western Flanks Zone at Beta Hunt to 710 koz."

  • "5-fold increase in Measured and Indicated resource to 710 koz.
  • 3-fold increase in Inferred resource to 250 koz.
  • Western Flanks structure remains open to the north and at depth with good grade and thicknesses of mineralization at the margins of the resource including the deepest and northernmost hole from the current campaign (WFN-083) that yielded 6.3 g/t over 13.9 metres (estimated true width)."

On July 11 RNC Minerals announced: "RNC Minerals files Dumont nickel-cobalt project updated feasibility study." After-tax NPV8% is $920 M, 15.4% IRR.

On July 18 RNC Minerals announced: "RNC Minerals announces that Mark Selby has resigned as President and CEO, Paul Andre Huet, Executive Chairman has been appointed as Interim CEO."

Upcoming catalysts include:

  • Mid 2019 - Resource update for Beta Hunt.

eCobalt Solutions [TSX:ECS] (OTCQX:ECSIF)/ Jervois Mining [ASX:JRV] [GR:IHS]

On July 19 eCobalt Solutions announced:

eCobalt shareholders approve plan of arrangement with Jervois. Jervois Mining Limited ("Jervois"), will acquire all of the issued and outstanding Common Shares not already owned by Jervois, whereby each common share of eCobalt will be exchanged for 1.65 common shares of Jervois.

Investors can read about the merger with Jervois Mining here.

Upcoming catalysts include:

  • 2019 - Updated FS, off-take agreements, project financing. Note these may be subject to change due to the merger.

Fortune Minerals [TSX:FT] (OTCQX:FTMDF)

On June 24 My Yellowknife Now reported: "Tlicho all-season road could open winter 2021."

On July 18 Fortune Minerals announced:

Fortune Minerals announces new discovery at NICO. New zone lies on the periphery of the coincident Peanut Lake magnetic, gravity and magnetotelluric geophysical anomalies. Fortune Minerals Limited is pleased to report the discovery of a new zone of copper mineralization at its 100% owned NICO cobalt-gold-bismuth-copper project (“NICO Project”), located 160 km northwest of Yellowknife, Northwest Territories, Canada. Three of four representative grab samples collected from the pit returned grades of 1.66%, 1.55% and 0.78% copper from analyses carried out at ALS Canada Ltd. in North Vancouver.

Investors can read the latest company presentation here.

Upcoming catalysts include:

  • 2019 - Updated Feasibility Study capital and operating costs.
  • 2019 - Possible off-take or equity partners, project financing.

Clean TeQ [ASX:CLQ] [TSX:CLQ] (OTCQX:CTEQF)

Clean TeQ has 132kt contained cobalt at their Sunrise project.

No news for the month.

Investors can also read the latest company presentation here.

Upcoming catalysts include:

2019 - Further off-take agreements and project funding/partnering.

Australian Mines [ASX:AUZ] (OTCQB:AMSLF)

On July 8 Australian Mines announced: "Additional high-grade results returned from Flemington resource drill program." Highlights include:

  • "Additional high-grade intersections highlighted from second tranche of results at the Flemington Mineral Resource extension drilling program.
  • Intersections include: 11 metres at 1,001ppm (0.10%) cobalt from surface. 10 metres at 1,062ppm (0.10%) cobalt from 1 metre depth. 10 metres at 1,014ppm (0.10%) cobalt from 12 metres depth.
  • High-grade horizon shown to extend beyond the existing Flemington Mineral Resource.
  • Second high-grade mineralised zone open on both sides.
  • Final batch of assays anticipated to become available throughout the coming weeks."

Investors can read my update article here, my CEO interview here, or view the latest company presentation here.

Upcoming catalysts include:

  • 2019 - First drill results for Thackaringa.

Ardea Resources [ASX:ARL] (OTC:ARRRF)

In total, Ardea has 405kt of contained cobalt and 5.46mt of contained nickel at their KNP project near Kalgoorlie in Western Australia.

On June 25 Ardea Resources announced: "Godolphin Resources Limited a spin-out of Ardea’s NSW tenements." Highlights include:

  • "Ardea shareholders to receive an in-specie distribution of 30 million Godolphin vendor shares at nil cost, plus have a priority right to subscribe for IPO shares.
  • The IPO capital raising to include the issue of up to 40 million new fully ordinary paid shares in Godolphin at an issue price of $0.20 per share, raising a minimum of $4.5million (before costs) and up to $8million (before costs)."

On July 9 Ardea Resources announced: "WA gold projects yield high-grade rock chip results......Confirmation of locally high-grade gold mineralisation by new, targeted sampling of altered and mineralised rocks, including:

  • Up to 20.50g/t gold at Winda nya in quartz veins at historic workings.
  • Up to 4.27 g/t goldin pyrite-sericite altered rocks at Taurus.
  • Up to 2.00 g/t goldin altered spoil at historic workingsat Mulga Plumamongst historic results of up to 50.1 g/t gold."

Investors can view their latest company presentation here, my recent update Ardea article here, and recent CEO interview here.

Upcoming catalysts include:

  • 2019 - Possible off-take partner and funding.
  • Mid 2019 - DFS results - KNP Cobalt Project.
  • 2022/23 - Possible production start.

Cobalt Blue Holdings [ASX:COB] (OTCPK:CBBHF)

In total Cobalt Blue currently has 79.5kt of contained cobalt at their Thackaringa Cobalt Project in NSW, Australia.

On July 1 Cobalt Blue Holdings announced:

Update on progress with independent expert determination....COB also advised that another Dispute Notice, issued by BPL under the TJVA regarding Dilution, was the subject of mediation between the parties. That Dispute Notice will now be determined by the Independent Expert. The parties have now provided their evidentiary material and submissions to the Expert and a final determination is expected to be delivered by mid to late July 2019.

On July 18 Cobalt Blue Holdings announced: "Cobalt Blue (COB) and Global Energy Metals Corporation (GEMC) enter into testwork co-operation agreement." Highlights include:

  • "GEMC has recently acquired the Millennium Project in North Queensland. The project contains cobalt, copper and gold.
  • COB has now entered into a testwork co-operation agreement with GEMC, to test the applicability of COB’s minerals processing technology to the cobalt-pyrite concentrate from the Millennium Project."

My interview with CEO Joe Kaderavek is on Trend Investing here, with an updated interview discussing the LG deal here, and my update article here.

Upcoming catalysts include:

  • Mid-Late July 2019 - Expert and a final determination to the COB/BPL feud. Possible further LG agreements (off-take, funding).
  • 2019 - Optimisation improvements on the PFS, drill results.
  • ~End 2020 - BFS to be released. Project approvals completed.
  • 2023 - Possible producer.

Aeon Metals [ASX:AML](OTC:AEOMF)

Aeon Metals 100% own their Walford Creek copper-cobalt project in Queensland Australia.

On July 4 Aeon Metals announced: "Basin Edge Project." Highlights include:

  • "Five new EPM applications lodged covering 1,555km2 to the east of Walford Creek.
  • Earn-in right agreed to acquire 100% of EPM 26316, located immediately east of Walford Creek tenements.
  • Adds contiguous 130km of potential strike extent to existing tenement holdings.
  • Represents attractive basin-scale exploration opportunity leveraging Aeon’s enhanced geological understanding."

On July 18 Aeon Metals announced: "Further step-out success west of Amy." Highlights include:

  • "Six RC holes now completed west of the current Amy Resource boundary with all holes intersecting the PY3 mineralisation.
  • Assay results for the first four holes received with a best intersection of 7m at 0.80% Cu and 0.13% Co from 93m (including3m at 1.31% Cu, 0.25% Co and 22gt Ag from 97m).
  • Two step-out RC holes 500m further west have also intercepted the PY3 unit at approximately 20m below surface.
  • Mineralised PY3 has now been identified over a total distance of approx.12.5km at Walford Creek, extending from the eastern end of Vardy through to the two recent step-out holes."

For more information you can read my article "Aeon Metals May Have A World Class Copper And Cobalt Sulphide Resource In Northern Australia."

Investors can view the latest company presentation here.

Upcoming catalysts include:

  • 2019 - Further drilling and drill results, further upgrades to the resource.

First Cobalt [TSXV:FCC] (OTCQB:FTSSF)

On June 26 First Cobalt announced: "First Cobalt urges fellow eCobalt shareholders to vote against value-destroying Jervois transaction."

On July 15 First Cobalt announced: "First Cobalt and Glencore conclude term sheet for refinery restart." Highlights include:

  • "Objective is to establish a collaborative long-term partnership to supply refined cobalt for the North American market.
  • Phase 1 entails a US$5 million loan from Glencore to support additional metallurgical testing, engineering, cost estimating, field work, and permitting associated with the recommissioning of the First Cobalt Refinery, including a definitive feasibility study for a 55 tonnes per day (tpd) refinery expansion.
  • Phase 2 envisions commissioning the Refinery at a feed rate of 12 tpd in 2020 to produce a battery grade cobalt sulfate for prequalification for the electric vehicle supply chain.
  • Phase 3 involves an expansion of the Refinery to a 55 tpd feed rate by 2021, using the current site infrastructure and buildings.
  • Total capital investment under the three phases is estimated at approximately US$45 million and Phases 2 and 3 remain subject to the findings of the studies undertaken during Phase 1. Capital invested will be repaid by First Cobalt from cash flow generated under a long-term refining arrangement."

Investors can view the company presentations here.

Havilah Resources [ASX:HAV] [GR:FWL]

Havilah 100% own the Mutooroo copper-cobalt project about 60km west of Broken Hill in South Australia. They also have the nearby Kalkaroo copper-cobalt project, as well as a potentially large iron ore project at Grants.

On June 28 Havilah Resources announced:

Update for GFG Alliance Proposed Transaction and EGM. Havilah Resources Limited [Havilah] has entered into a Share Subscription Agreement with OneSteel Manufacturing Pty Ltd (SIMEC), a member of the GFG Alliance, that provides for a capital injection of up to $100 million (Proposed Transaction) to fund agreed work programs on Havilah’s iron ore assets and its copper prospects and Mutooroo deposit in the Mutooroo Copper-Cobalt District (ASX announcement of 1 May 2019). As outlined in the announcement of 1 May 2019, Havilah will be seeking the approval of shareholders for the Proposed Transaction and will not proceed with the Proposed Transaction unless that approval is obtained.

Note: Investors can learn more by reading my article "Havilah Resources Has Huge Potential and/or my update article. You can also view my CEO interview here, and the company presentation here.

GME Resources [ASX:GME][GR:GM9] (OTC:GMRSF)

GME Resources own the NiWest Nickel-Cobalt Project located adjacent to Glencore’s Murrin Murrin Nickel operations in the North Eastern Goldfields of Western Australia. The NiWest Project which has an estimated 830,000 tonnes of nickel metal and 52,000 tonnes of cobalt.

No news for the month

Investors can read a company investor presentation here.

Castillo Copper [ASX:CCZ]

No cobalt related news for the month.

Investors can view my CEO interview here, and an investor presentation here.

Cassini Resources [ASX:CZI] [GR:ICR] (OTC:CSSQF)

Cassini's flagship is the West Musgrave Project hosting over 1.0 million tonnes of contained nickel and 2.0 million tonnes of contained copper in resource. The company has a buy in JV with OZ Minerals [ASX:OZL] (OTCPK:OZMLF) for West Musgrave in Western Australia. The company also has several other promising projects.

No cobalt related news for the month.

Investors can read the latest company presentation here.

Upcoming catalysts include:

  • Q2 2019 - PFS due.

Nzuri Copper [ASX:NZC] (OTCPK:NZRIF)

Nzuri 85% own the Kalongwe copper-cobalt project in the Kolwezi region of the Democratic Republic of Congo (DRC).

No significant news for the month.

Investors can read the latest company presentation here.

Celsius Resources [ASX:CLA] [GR:FX8]

Celsius owns 100% of Opuwo Cobalt Pty Ltd, which in turn holds the right to earn up to 76% of the Opuwo Cobalt (sulphide) Project in Namibia.

No news for the month.

Investors can view the company presentations here.

Barra Resources Ltd. (OTC:BRCSF) [ASX:BAR] / Conico Ltd [ASX:CNJ]

Barra is developing the Mt Thirsty project, which is a 50/50 joint venture with Conico, to produce cobalt suitable for the metal, chemical and battery markets. Barra is has two promising gold projects in western Australia.

On July 16 Barra Resources Ltd. announced: "ASX quarterly report quarter ending 30 June 2019." Highlights include:

Mt Thirsty Cobalt Nickel Project

  • "Bulk leaches demonstrate successful scale up of bench-scale tests.
  • Pre-Feasibility Study will be completed in 2019."

Corporate

  • "As at the end of the quarter, Barra has $1.5M in cash.
  • Barra fully funded for its share of the Mt Thirsty PFS and ongoing gold exploration."

Investors can view the company presentations here.

Cruz Cobalt [CUZ] (OTCPK:BKTPF)

No news for the month.

Bankers Cobalt [TSXV:BANC] [GR:BC2] (NDENF)

No news for the month.

Investors can view the company presentations here, or my CEO Stephen Barley interview on Trend Investing here.

Alloy Resources [ASX:AYR]

No news for the month.

Cobalt27 Capital Corp. [TSXV:KBLT] [GR:27O][LN:OUPZ] (OTC:CBLLF) (Pala takeover and to form Nickel28)

Cobalt27 is a listed investment company that offers unique exposure to a portfolio of cobalt and nickel assets - Cobalt metal, cobalt royalties and direct cobalt/nickel properties, and one lithium royalty. Cobalt27 owns 2,905.7 tonnes of cobalt.

No news for the month.

Last month's news was "Pala Investments to Acquire Cobalt 27 for C$501 Million; Creation of Nickel 28. Offer of C$5.75 per share, comprised of C$3.57 in cash plus C$2.18 in shares of the newly established Nickel 28."

Other juniors and miners with cobalt

I am happy to hear any news updates from commentators. Tickers of cobalt juniors I will be following include:

African Battery Metals [AIM:ABM], Artemis Resources Ltd [ASX:ARV] (OTCPK:ARTTF), Auroch [ASX:AOU] [GR:T59], Azure Minerals [ASX:AZS] (OTC:AZRMF), Blackstone Minerals [ASX:BSX], BHP (NYSE:BHP), Carnaby Resources [ASX:CNB], Bluebird Battery Metals Inc. [TSXV:BATT] (OTCPK:BBBMF), Brixton Metals Corporation [TSXV:BBB](OTC:BXTMD), Canadian International Minerals [TSXV:CIN], Canada Cobalt Works Inc [TSXV:CCW], Centaurus Metals [ASX:CTM], Cobalt Power Group [TSX:CPO], Cohiba Minerals [ASX:CHK], Corazon Mining Ltd [ASX:CZN], Cudeco Ltd [ASX:CDU] [GR:AMR], Dragon Energy [ASX:DLE], European Cobalt Ltd. [ASX:EUC], First Quantum Minerals (OTCPK:FQVLF), Galileo [ASX:GAL], Global Energy Metals [TSXV:GEMC] (OTC:GBLEF), GME Resources [ASX:GME] (OTC:GMRSF), Global Energy Metals [TSXV:GEMC] [GR:5GE1] (GBLEF), Hinterland Metals Inc. (OTC:HNLMF), Hylea Metals [ASX:HCO], Independence Group [ASX:IGO] (OTC:IIDDY), King's Bay Res (OTC:KBGCF) [TSXV:KBG], Latin American Resources, LiCo Energy Metals [TSXV:LIC] (OTCQB:WCTXF), M2 Cobalt Corp. (TSXV: MC) (OTCQB: OTCPK:MCCBF), MetalsTech [ASE:MTC], Metals X (ASX:MLX) (OTCPK:MLXEF), Meteoric Resources [ASX:MEI], Mincor Resources (OTCPK:MCRZF) [ASX:MCR], Namibia Critical Metals [TSXV:NMI] (OTC:NMREF), Northern Cobalt [ASX:N27], Pacific Rim Cobalt [BOLT:CSE], PolyMet Mining [TSXV:POM] (NYSEMKT:PLM), OreCorp [ASX:ORR], Power Americas Minerals [TSXV:PAM], Panoramic Resources (OTCPK:PANRF) [ASX:PAN], Pioneer Resources Limited [ASX:PIO], Platina Resources (OTCPK:PTNUF) [ASX:PGM], Quantum Cobalt Corp [CSE:QBOT] GR:23BA] (OTCPK:BRVVF), Regal Resources (OTC:RGARF), Hylea Metals (ASX:HCO), Sienna Resources [TSXV:SIE], (OTCPK:SNNAF), US Cobalt [TSXV:USCO] (OTCQB:USCFF), and Victory Mines [ASX:VIC].

Conclusion

July was a quiet month for cobalt news as cobalt prices remain low and recovering just slightly.

Highlights for the month were:

  • Cobalt spot prices slightly higher in July.
  • Darton: "Production of hand-dug cobalt in the Democratic Republic of Congo is poised to drop sharply after prices tumbled, prompting many of the country’s thousands of artisanal miners to switch focus to copper instead."
  • John Petersen states: "If Bloomberg’s demand forecasts are even close to accurate, battery manufacturers who make products for transportation and stationary applications will face crippling cobalt shortages that will drive a stake through the heart of global EV sales growth in 2023."
  • Citi says: "However post 2022 with mine supply growth slowing, cobalt demand from EVs rising rapidly, and work in progress inventories rising notably, we expect the balances to shift into significant deficit, and prices to rise back to $80,000 per ton and potentially higher."
  • Benchmark Minerals Andrew Miller - "Battery materials will bounce back."
  • Glencore/Katanga Mining - Congolese army fires in the air during protest near Glencore/Katanga Mining plant in the DRC.
  • Sherritt confirms mineral reserves and outlines increased mineral resources at Moa JV.
  • RNC Minerals announces 5-fold increase in Measured & Indicated resource to 710 koz at their Western Flanks Beta Hunt gold-nickel mine.
  • eCobalt shareholders approve plan of arrangement with Jervois Mining.
  • Fortune Minerals - New discovery at NICO. Tlicho all-season road could open winter 2021.
  • Ardea Resources plan to spin-out their NSW tenements into a new IPO named Godolphin Resources Limited.
  • Aeon Metals Walford Creek adds contiguous 130km of potential strike extent to existing tenement holdings.
  • First Cobalt and Glencore conclude term sheet for refinery restart.

As usual all comments are welcome.

Disclosure: I am/we are long GLENCORE (LSX:GLEN), KATANGA MINING [TSX:KAT], NORSILK NICKEL (LME:MNOD), AUSTRALIA MINES [ASX:AUZ], FORTUNE MINERALS [TSX:FT], RNC MINERALS [TSX:RNX] , ARDEA RESOURCES [ASX:ARL], COBALT BLUE [ASX:COB], AEON METALS [ASX:AML], HAVILLAH RESOURCES [ASX:HAV], CASTILLO COPPER (ASX:CCZ), CASSINI RESOURCES [ASX:CZI], COBALT27 [TSV:KBLT], CONICO LTD [ASX:CNJ], FIRST COBALT [TSXV:FCC], POSEIDON NICKEL [ASX:POS]. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: The information in this article is general in nature and should not be relied upon as personal financial advice.