Cobalt Miners News For The Month Of October 2021

Summary

  • Cobalt spot prices were higher for the month, and LME cobalt inventory was slightly lower.
  • Cobalt market news - Strong growth for cobalt, but some headwinds too. Cobalt slight supply deficit this year and will remain in one next year.
  • Cobalt miners news - First Cobalt receives a key permit for its North American Battery Materials Refinery. Jervois Global advances construction at Idaho Cobalt Operations.
  • Cobalt Blue grant of Exploration License (‘EL’) 9254 has increased the Company’s Broken Hill footprint by some 35%. Global Energy Metals commences its first-ever drill program at the Lovelock Cobalt-Nickel-Copper Project in Nevada.
  • I do much more than just articles at Trend Investing: Members get access to model portfolios, regular updates, a chat room, and more. Learn More »

Construction at Dusk
shotbydave/E+ via Getty Images

Welcome to the October 2021 cobalt miner news. The past month saw good news relating to Australia as a possible future cobalt source as well as signs China has been thrifting cobalt use in NMC and also shifting more towards LFP batteries. Despite this, the long-term outlook for cobalt remains solid, as Fastmarkets stated: "Strong growth for cobalt, but some headwinds too."

Cobalt price news

As of October 22, the cobalt spot price was slightly higher at US$25.45/lb, from US$24.04/lb last month. The LME cobalt price is US$55,610/tonne. LME Cobalt inventory is 271 tonnes, down slightly from last month's 280 tonnes. More details on cobalt pricing (in particular the more relevant cobalt sulphate), can be found here at Benchmark Mineral Intelligence or Fastmarkets MB.

Cobalt spot prices - 5-year chart - USD 25.45

5 years Cobalt Price

Source: Mining.com

Cobalt demand v supply forecasts

BloombergNEF EV metals demand forecast

Cobalt demand vs supply forecasts

Source: BloombergNEF

UBS cobalt supply and demand forecast - Small deficit in 2021 with deficits growing from 2023

cobalt supply and demand forecast

Source: Fortune Minerals company presentation

Cobalt demand v supply forecast - Deficits starting in 2026

Cobalt demand vs supply forecast - Deficits starting in 2026

Source: Fortune Minerals (video) and courtesy Benchmark Mineral Intelligence

UBS's EV metals demand forecast (from Nov. 2020)

EV metals demand forecast

Source

UBS forecasts Year battery metals go into deficit

UBS forecasts Year battery metals go into deficit

Source: UBS courtesy Carlos Vincens LinkedIn

2021 IEA forecast growth in demand for selected minerals from clean energy technologies by scenario, 2040 relative to 2020 - Increases Of Lithium 13x to 42x, Graphite 8x to 25x, Cobalt 6x to 21x, Nickel 7x to 19x, Manganese 3x to 8x, Rare Earths 3x to 7x, And Copper 2x to 3x

2021 IEA forecast growth in demand for selected minerals from clean energy technologies by scenario

Source: International Energy Agency 2021 report

Cobalt market news

On September 23 Mining Weekly reported:

Cobalt investments seen shifting from DRC to 'bright spot' Australia.... which is seen as a "bright spot" for miners and offtakers seeking to avoid human rights and environmental risks associated with cobalt mining in the DRC. Australia represents a much lower risk environment if the EU [European Union] seeks to reduce its dependency on the DRC for cobalt," research firm Fitch Solutions said on Thursday.

On September 28 Reuters reported:

Australia to set up $1.5 billion [~A$2 billion] loan facility for critical minerals projects......Morrison, who visited the United States for a Quad nations meeting last week, said on Saturday the group would work to improve the security of supply chains for critical technologies such as clean energy and ease a global chip shortage.

On October 6 Investing News reported: "Top Canadian cobalt stocks."

On October 8 Fastmarkets reported:

Strong growth for cobalt, but some headwinds too | LME Week 2021. EV sales have been particularly strong this year and are expected to total around 5.8 million, up from 3.3 million in 2020 and 2.4 million in 2019. While cobalt demand has benefited from the strong demand growth from the EV sector, demand will not have been as strong as it could have been because there has been quite a shift in attitudes regarding which lithium-ion battery chemistry EV original equipment manufacturers (OEM) are using. Second generation lithium iron phosphate (LFP) batteries have become increasingly popular in China and look set to be used more extensively outside China too. In China, LFP batteries' market share climbed to 52% in the first eight months of 2021, up from 39% in 2020 and 33% in 2019. LFP's gain means slower demand growth for cobalt. In addition, the trend is toward using higher nickel weighted-nickel-cobalt-manganese (NCM) batteries, which have lower cobalt content. Fastmarkets sees this as a blessing for cobalt because it will reduce the chances of cobalt shortages and unsustainably high prices - it also means shortages are less likely to force OEMs to use non-cobalt chemistries. The market is thought to be in a slight supply deficit this year and will remain in one next year, but with the giant Mutanda mine set to restart and ramp up again during 2022-23, supply should be able to grow with demand for now. As such, we expect prices to remain elevated in 2022, but below current levels.

On October 8 S&P Global Platts reported:

Battery value chain action needed to meet unprecedented demand: panel.....Battery raw material demand is expected to be unprecedented in the coming years......"It is much easier to build a gigafactory and retool a car factory. The timeline to unlock a discovery and build mining projects is much longer -- we will reach a time when mining response won't be able to meet demand and run the risk of the mining industry dampening the whole electric vehicle dynamic. We all need to get our skates on and deliver units of the future to make the electric revolution happen," IGO Limited CEO Peter Bradford said.

On October 11 Fastmarkets reported:

LME WEEK 2021: Industrially mined cobalt can't respond to demand growth, ERG CEO says. Global cobalt supply can't keep pace with surging cobalt consumption because its production is tied to copper and nickel mining rather than underlying demand......"Our internal analysis shows that the recent announcements of restarts and capacity expansions at major operations in the Democratic Republic of the Congo (DRC) are too little, too late. Moreover, bringing new production capacity on stream takes considerable time and is subject to strict government oversight, as is the case in the DRC," he noted.

On October 20 Argus Media reported:

Power curbs lower China's September LCO output. China's lithium cobalt oxide (LCO) output declined to 6,400t in September, down by 5.2pc from August as a result the country's energy consumption control measures..... January-September production reached 66,500t for LCO, up by 20pc from a year earlier. Xiamen Tungsten New Energy, Hunan Shanshan, Tianjin B&M and Guoan Mengguli are the country's top four LCO manufacturers, accounting for 80pc of China's total production.

On October 21 InsideEVs reported: "Tesla is shifting standard range cars to LFP batteries globally. CATL will win big on this."

Cobalt company news

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

No cobalt related news.

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

On September 29, China Molybdenum announced: "2021 Interim Report."

Zheijiang Huayou Cobalt [SHA:603799]

No news for the month.

Jinchuan Group International Resources [HK:2362]

No news for the month.

Chemaf (subsidiary of Shalina Resources)

No news for the month.

GEM Co Ltd [SHE: 002340]

No news for the month.

Investors can read more about GEM Co in my Trend Investing article: "A Look At GEM Co Ltd - The World's Largest Battery Recycling Company" when GEM Co was trading at CNY 5.08.

Eurasian Resources Group ("ERG") - private

ERG owns 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.

No news for the month.

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

On October 15, Umicore SA announced:

Umicore signs long-term sustainable lithium contracts with Ganfeng and Vulcan.....With these agreements Umicore also reconfirms its strong commitment to support the global growth of its customers through the creation of a sustainable battery materials value chain....

On October 18, Umicore SA announced:

Umicore revises slightly its 2021 outlook. Umicore revises slightly its full year 2021 outlook and now expects adjusted EBIT to approach € 1 billion. This compares to the previous expectation of adjusted EBIT slightly exceeding € 1 billion as communicated on 30 July and reflects the recent decline in PGM prices, as well as a stronger than anticipated impact of the global semiconductor shortage on car production. Despite this more challenging market context, Umicore remains fully on track to deliver an outstanding performance in 2021. This outlook is based on current metal prices and visibility. It assumes no material further degradation of the semiconductor supply situation and incorporates rising transportation costs and higher energy prices.

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

No significant news for the month.

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

On September 30, MMC Norilsk Nickel announced: "Great Norilsk Expedition 2021 completes fieldwork and gets down to laboratory tests."

On October 6, MMC Norilsk Nickel announced:

Nornickel cancels repurchased shares. MMC Norilsk Nickel the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, announces the cancellation of 4,590,852 ordinary shares, which were bought back from shareholders in June.

On October 20, MMC Norilsk Nickel announced:

Nornickel announces production results for 9M 2021......Taking into account the current progress in the recovery of the production facilities of the Norilsk division, we reiterate 2021 metal production forecast for nickel and copper within the earlier announced range, while flagging up an upside risk for PGM volumes, which are expected at the top end of the guided range.

Note: Cobalt numbers were not given as treated by Norilsk as a by-product.

OZ Minerals [ASX:OZL] (OTCPK:OZMLF)

On October 20, OZ Minerals announced:

Third quarter report 2021 for the three months ending 30 September 2021. The cash balance at 30 September was $188 million, retaining the fully undrawn debt facility of $480 million, providing significant liquidity to progress expansions at Carrapateena and Prominent Hill. Investment in Carrapateena growth has continued with mine development activities to accelerate decline development, crusher procurement and Western Access Road construction progressing. Exploration and studies expenditure was higher with increasing activity at West Musgrave and the Carajás.....

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

No significant news for the month.

Nickel 28 [TSXV:NKL] [GR:3JC] (OTCPK:CONXF)

No news for the month.

Investors can view the company presentations here.

Possible mid-term producers (after 2022)

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

On October 5, First Cobalt announced: "First Cobalt awards milestone construction contract to Metso Outotec for its Canadian refinery." Highlights include:

  • "The solvent extraction contract is the largest and most important equipment package now under contract.
  • Metso Outotec is an industry leader, having provided similar equipment to other operational cobalt sulfate refineries, thereby lowering the execution risk for the Company's strategy of producing battery-grade cobalt sulfate
  • Commissioning of Phase 1 of First Cobalt's low-carbon hydrometallurgical refining strategy is scheduled for Q4'2022, targeting annual production of 25,000 tonnes of cobalt sulfate annually.
  • Once operational, First Cobalt's refinery will be the only producer of battery-grade cobalt for the North American electric vehicle market, capable of supplying over 1 million vehicles per annum, responding to strong demand in the accelerating EV revolution.
  • First Cobalt maintains a strong cash position, following completion of its project financing in September."

On October 14, First Cobalt announced: "First Cobalt receives key permit for its North American Battery Materials Refinery." Highlights include:

  • "The Air & Noise Permit is the second of three permit amendments to be approved in support of the Company's plans to produce North America's only supply of battery-grade cobalt for the electric vehicle market.
  • The third and final permit amendment has undergone community consultations, has been submitted to the Ministry for review and final approval is expected shortly.
  • The US$60 million facility expansion remains on schedule to be commissioned in Q4'2022.
  • Once commissioned, First Cobalt expects its hydrometallurgical refinery to have peer leading ESG credentials, with the lowest Scope 1 and Scope 2 emissions in the industry."

On October 20, First Cobalt announced: "First Cobalt announces US$7.5 million in proceeds from exercise of investor option."

Upcoming catalysts include:

  • Q4 2022 - Very possible to have their North American cobalt refinery operational with ore feed from Glencore.

Investors can view the company presentations here and a good Crux Investor CEO interview here.

Jervois Global Limited [ASX:JRV] [TSXV: JRV] (OTC: OTCQX:JRVMF) [FRA: IHS] (formerly Jervois Mining)

On September 27, Jervois Global Limited announced: "Jervois expands scope of São Miguel Paulista Refinery BFS."

On September 27, Jervois Global Limited announced: "Jervois advances construction at Idaho Cobalt Operations." Highlights include:

  • "Update following visit to site to review construction progress by Directors Mr. Bryce Crocker and Mr. Mike Callahan.
  • Detailed engineering and procurement substantially advanced with commitments for more than 40 per cent of all equipment and material required for construction of Jervois' 100% owned Idaho Cobalt Operations ("ICO"), United States.
  • Since Board approval for full construction Jervois has now committed more than US$30 million towards equipment, materials and labour costs for ICO.
  • Activity underway at ICO includes civil and concrete works for construction of the processing plant and preparation for underground mining.
  • ICO construction, procurement and engineering schedule is on track, with commissioning and first production of cobalt concentrate from a mine in the United States in generations expected from mid 2022.
  • First draw down of US$100 million bond offering (the "Bond Offering") continues to be anticipated in Q4 2021."

On October 19, Jervois Global Limited announced: "Jervois delivers first blast of west portal at Idaho Cobalt Operations." Highlights include:

  • "Jervois has commenced underground construction of its 100%-owned Idaho Cobalt Operations ("ICO").
  • ......ICO construction, procurement and engineering schedule remains on track, with commissioning and first production of cobalt concentrate expected from mid-2022.
  • Separate copper concentrates also expected to be produced and sold to North American customers in parallel, with current copper prices significantly above the US$3.00 per lb applied in the ICO Bankable Feasibility Study ("BFS")."

Upcoming catalysts include:

  • 2021 - Possible off-take agreements.
  • End Q1 2022 - São Miguel Paulista Refinery BFS due
  • Mid 2022 - Idaho Cobalt Operations initial production target.

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

On September 23 Fortune Minerals announced:

Fortune Minerals announces start of NICO drill program......In addition to testing the east strike extension of the NICO Deposit, drilling will also test a number of coincident magnetic, gravity, magnetotelluric, chargeability and resistivity anomalies, including some with previous drilling that encountered significant gold and cobalt intersections.

Upcoming catalysts include:

  • 2021 - Possible off-take or equity partners, project financing.

Investors can read the latest company presentation here, or view a good video - "An introduction to the NICO Project."

Sunrise Energy Metals Limited [ASX:SRL] (OTCQX:SREMF) (formerly Clean TeQ)

Sunrise Energy Metals has 132kt contained cobalt at their Sunrise project.

On October 19, Sunrise Energy Metals Limited announced: "Quarterly activities report." Highlights include:

  • "Work streams to advance the development of the fully integrated Sunrise Battery Materials Project continue with activities focussed on: Processing of an application for a modification of the Project's NSW Development Consent. Temporary relocation of autoclaves. Progressing the long-lead electrical transmission line [ETL] work scope. Advancing ongoing commercial discussions with landowners, local councils, the NSW State Government and other impacted parties for land access agreements required for key infrastructure including the water pipeline and the ETL. Commencement of drilling on one of the Company's exploration licences for limestone resources, a key process reagent used in the Sunrise Project's processing plant.
  • The offtake agreement with Beijing Easpring, signed in 2017, was terminated by mutual agreement. The result is that the Company now has 100% of its future nickel and cobalt production available as it seeks to arrange a financing package for the Project.
  • The 3-hole second phase of the drilling campaign at the Phoenix Platinum Zone has been completed, with assay results expected during October.
  • The acquisition of the Hylea Project achieved completion, expanding the Company's footprint in the highly prospective Lachlan Fold Belt. The Hylea Project is located approximately 50km north of the Sunrise Project and exhibits similar geology and encouraging cobalt grades from previous drilling.
  • The demerger of Clean TeQ Water Limited was implemented on 1 July 2021 in line with the timetable detailed in the Demerger Booklet released to the ASX on 17 May 2021.
  • The Company had A$33 million cash on hand as at 30 September 2021."

Upcoming catalysts include:

2021/22 - Possible off-take agreements and project funding/partnering.

Investors can also read the latest company presentation here.

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

On September 23, Australian Mines announced: "Annual report for the year ended 30 June 2021."

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

Upcoming catalysts include:

  • 2021/22 - Possible Sconi financing.

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

In total, Ardea has 5.9mt of contained nickel and 380kt of contained cobalt at their KNP Project near Kalgoorlie in Western Australia. Ardea is also exploring for gold and nickel sulphide on their >5,100 km2 of 100% controlled tenements in the Eastern Goldfields region of Western Australia.

On September 24, Ardea Resources announced: "Annual report 2021."

On October 22 Ardea Resources announced:

......the Future Battery Industries Cooperative Research Centre (FBICRC), of which Ardea is an active member, has signed a contract valued at $18M to design and commission the FBICRC's flagship Cathode Precursor Production (PCAM) Pilot Plant in Western Australia. The consortium of FBICRC participants includes some of the largest nickel and chemicals producers in the world who are working with companies such as Ardea to produce from locally sourced materials, the present generation of cathode chemistries for the batteries used in electric vehicles.

Upcoming catalysts include:

  • 2021 - Possible off-take partner and funding for the GNCP Project. Gold and nickel sulphide exploration results.

Metals X (ASX:MLX) (OTCPK:MLXEF)

Wingellina Nickel-Cobalt Project (Wingellina) is a large undeveloped nickel-cobalt project in Australia and part of Metals X's Central Musgrave Project ("CMP"). The CMP has a Mineral Resource of approximately 2.0 million tonnes of nickel and 154,000 tonnes of cobalt, within which Wingellina hosts an Ore Reserve of approximately 1.56 million tonnes of nickel and 123,000 tonnes of cobalt.

No cobalt news, some tin related news here.

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

In total Cobalt Blue currently has 81.1kt of contained cobalt at their 100% owned Broken Hill Cobalt Project [BHCP] (formerly Thackaringa Cobalt Project) in NSW, Australia. LG International is an equity strategic partner.

On September 28, Cobalt Blue Holdings announced: "COB 2021 Annual Report." Highlights include:

Broken Hill Cobalt Project

  • "Construction and commissioning of Pilot Plant.
  • Dispatch of Global Sample Partner Program samples.
  • Expansion of tenement inventory.
  • Groundwater allocation rights acquired.
  • Project Update Study released."

COB Partnerships

  • "Announcement of Cobalt in Waste Streams Project."

Corporate

  • "$22.4m of new capital raised."

On October 11, Cobalt Blue Holdings announced: "COB expands Broken Hill Tenure." Highlights include:

  • "Cobalt Blue Holdings Limited [ASX: COB] is pleased to announce the grant of Exploration Licence ('EL') 9254 has increased the Company's Broken Hill footprint by some 35%.
  • Since January 2021, COB have added two new Exploration Licences to their tenement portfolio which now covers a total area of approximately 220 km2."

Upcoming catalysts include:

  • 2022 - Possible off-take agreements. Feasibility Study & project approvals. Final Investment decision. Project Funding.

Investors can watch a recent CEO interview here.

Havilah Resources [ASX:HAV] [GR:FWL] (OTCPK:HAVRF)

Havilah 100% owns 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. Havilah's 100% owned Kalkaroo copper-gold-cobalt deposit contains JORC Mineral Resources of 1.1 million tonnes of copper, 3.1 million ounces of gold and 23,200 tonnes of cobalt.

No news for the month.

Upcoming catalysts include:

  • 2021/22 - West Kalkaroo gold starter open pit permitting and feasibility study.

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.

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

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

On October 13, Aeon Metals announced: "PFS metallurgical testwork update." Highlights include:

  • "Results obtained to date from current metallurgical testwork program are consistent with the process inputs adopted in the Walford Creek Scoping Study (June 2021).
  • Firming up of process operating conditions has allowed equipment selection decisions to be made in conjunction with preliminary plant layouts.
  • More detailed estimation of capital and operating costs is currently underway.
  • Walford Creek PFS remains on track for completion in Q1 CY2022."

Investors can view the latest company presentation here.

Upcoming catalysts include:

  • Q1 2022 - Walford Creek revised PFS due.

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 significant news for the month.

Investors can read a company investor presentation 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 October 20, Barra Resources Ltd. announced: "Operational update." The news relates to their Burbanks Gold Project.

Investors can view the company presentations here.

Global Energy Metals Corp. [TSXV:GEMC][GR:5GE1] (OTC:GBLEF)

On October 18, Global Energy Metals Corp. announced: "Global Energy Metals commences first-ever drill program at the Lovelock Cobalt-Nickel-Copper Project in Nevada; Provides raw material to American Battery Technology Company for processing." Highlights include:

  • "Initial 1,000 metres of targeted reverse-circulation drilling focused on making new copper-nickel-cobalt discoveries along newly defined conductors at Lovelock.
  • Recent geophysics studies have identified high-priority drill targets that complement the exploration fieldwork previously conducted.
  • There is strong discovery potential in and around the Lovelock properties as well as at regional targets identified.
  • GEMC has supplied raw material from its Lovelock and Treasure Box projects in Nevada to undergo ABTC's in-house procedure of developing new first-of-kind processes for producing battery cathode grade nickel and cobalt metal sulfates.
  • GEMC continues to evaluate strategic cooperative opportunities that could enable securing a stable supply of battery minerals critical for the electrification of vehicles and energy storage to the North American market."

On October 19, Global Energy Metals Corp. announced: "Global Energy Metals signs agreement with Electric Royalties and Scandinavian Resource Holdings to create 1% NSR on the Rana Nickel-Cobalt-Copper Project in Norway." Highlights include:

  • "Includes the past producing Bruvann Ni-Cu-Co mine which has significant historical resources remaining after production shut down in 2002, following 13 years of production due to low nickel prices.
  • Located adjacent to main north-south highway and in an area with a long history of mining and skilled manpower.
  • Available mine infrastructure includes power, roads, and conveyor from mine site to existing port facilities.
  • Large historical drill database demonstrating compelling near mine exploration potential.
  • Underexplored property with demonstrated exploration potential and re-start potential.
  • GEMC to receive cash and share equity in Electric Royalties further increasing its exposure to the company and its growing portfolio of technology enabling metal projects."

On October 20, Global Energy Metals Corp. announced:

Global Energy Metals Hosts Webinar providing updates on Inaugural Drill Program at Lovelock, Multi-Jurisdictional Exploration Programs and Strategic Partnerships.

Investors can read my article on GEMC here.

GEMC's global pipeline of battery and some precious metals projects (amazing value for a company with only a C$7.6m market cap)

GEMC global pipeline of battery and some precious metals projects

Source: GEMC investor presentation

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:

21st Century Metals (CSE: BULL), African Battery Metals [AIM:ABM], Alloy Resources [ASX:AYR], Artemis Resources Ltd [ASX:ARV] (OTCPK:ARTTF), Aston Minerals (OTCPK:WMNNF) [ASX:ASO] (formerly European Cobalt), Auroch [ASX:AOU] [GR:T59], Azure Minerals [ASX:AZS] (OTC:AZRMF), Central African Gold [TSXV:BANC] [GR:BC2] (NDENF), Battery Mineral Resources [TSXV:BMR], Blackstone Minerals (OTCQX:BLSTF) [ASX:BSX], BHP (NYSE:BHP), Brixton Metals Corporation [TSXV:BBB](OTC:BXTMD), Canada Nickel (OTCQX:CNIKF) [TSXV:CNC], Canada Silver Cobalt Works Inc [TSXV:CCW] (OTCQB:CCWOF), Canadian International Minerals [TSXV:CIN], Carnaby Resources [ASX:CNB], Castillo Copper [ASX:CCZ], Celsius Resources [ASX:CLA] [GR:FX8], Centaurus Metals (OTCQX:CTTZF) [ASX:CTM], CBLT Inc. [TSXV:KBLT] (OTCPK:CBBLF), Cobalt Power Group [TSX:CPO], Cohiba Minerals [ASX:CHK], Corazon Mining Ltd [ASX:CZN], Cruz Battery Metals Corp. [CSE:CRUZ][FSE: A2DMG8] (OTCPK:BKTPF), Cudeco Ltd [ASX:CDU] [GR:AMR], TMC the metals company (TMC)/ Sustainable Opportunities Acquisition Corporation, Dragon Energy [ASX:DLE], Edison Battery Metals (OTCQB:EDDYF) [TSXV:EDDY], Electric Royalties (OTCQB:ELECF)[TSXV:ELEC], First Quantum Minerals (OTCPK:FQVLF), Fuse Cobalt Inc [CVE:FUSE] (WCTXF), Galileo (OTCPK:GLMGF) [ASX:GAL], GME Resources [ASX:GME] (OTC:GMRSF), Hinterland Metals Inc. (OTC:HNLMF), Hylea Metals [ASX:HCO], IGO Limited [ASX:IGO] (OTC:IIDDY), King's Bay Resoures (OTC:KBGCF) [TSXV:KBG], Latin American Resources, M2 Cobalt Corp. (TSXV: MC), MetalsTech [ASE:MTC], Meteoric Resources [ASX:MEI], Mincor Resources (OTCPK:MCRZF) [ASX:MCR], Namibia Critical Metals [TSXV:NMI] (OTCPK:NMREF), 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, Resolution Minerals Ltd (OTCPK:RLMLF) [ASX:RML], Sienna Resources [TSXV:SIE], (OTCPK:SNNAF), and Victory Mines [ASX:VIC].

Conclusion

October saw cobalt prices higher and LME inventory slightly lower.

Highlights for the month were:

  • Cobalt investments seen shifting from DRC to 'bright spot' Australia.
  • Australia to set up $1.5 billion [~A$2 billion] loan facility for critical minerals projects.
  • Fastmarkets: Strong growth for cobalt, but some headwinds too due to greater use of LFP and cobalt thrifting (in NCM batteries). Cobalt slight supply deficit this year and will remain in one next year.
  • Battery value chain action needed to meet unprecedented demand.
  • Industrially mined cobalt can't respond to demand growth.
  • Tesla is shifting standard range cars to LFP batteries globally.
  • Umicore revises slightly its full year 2021 outlook and now expects adjusted EBIT to approach € 1 billion.
  • Norilsk Nickel cancels 4,590,852 ordinary shares which were bought back from shareholders in June.
  • First Cobalt receives key permit for its North American Battery Materials Refinery... commissioning scheduled for Q4'2022, targeting 25,000 tpa of cobalt sulfate.
  • Jervois Global advances construction at Idaho Cobalt Operations. First production of cobalt concentrate expected from mid-2022.
  • Cobalt Blue - Grant of Exploration Licence ('EL') 9254 has increased the Company's Broken Hill footprint by some 35%.
  • Global Energy Metals commences first-ever drill program at the Lovelock Cobalt-Nickel-Copper Project in Nevada.

As usual, all comments are welcome.

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Trend Investing looks at investment trends for professional investors.

The Trend Investing group includes qualified financial personnel with a Graduate Diploma in Applied Finance and Investment (similar to CFA) and well over 20 years of professional experience in financial markets. Trend Investing searches the globe for great investments with a focus on "trend investing" themes. Some focus trends include electric vehicles and the lithium/cobalt/graphite/nickel/copper/vanadium miners, battery and plastics recycling, the online data boom, 5G, IoTs, AI, cloud computing, renewable energy, energy storage, space tourism, 3D printing, personal robots, and autonomous vehicles. Trend Investing also hosts a Marketplace Service called Trend Investing for professional and sophisticated investors. The service is information only and does not offer advise or recommendations. See Seeking Alphas Terms of use. https://seekingalpha.com/page/terms-of-use

Disclosure: I/we have a beneficial long position in the shares of NORSILK NICKEL (LME:MNOD),FORTUNE MINERALS [TSX:FT], ARDEA RESOURCES [ASX:ARL], COBALT BLUE [ASX:COB], AEON METALS [ASX:AML], HAVILLAH RESOURCES [ASX:HAV], JERVOIS MINING [TSXV:JRV], FIRST COBALT [TSXV:FCC], GLOBAL ENERGY METALS CORP. [TSXV:GEMC] either through stock ownership, options, or other derivatives. 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.

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