Cobalt Miners News For The Month Of December 2022 – Seeking Alpha

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Welcome to the December 2022 cobalt miners information.
The previous month noticed stories of weak cobalt demand from China primarily as a consequence of weak spot in shopper digital gross sales but in addition as a consequence of China shifting to LFP batteries and ending EV subsidies by finish 2022. Aerospace demand has helped offset this as has cobalt provide disruptions in 2022, notably from CMOC’s DRC mine. Looking to the mid-term and long-term, cobalt demand is forecast to extend considerably with deficits forecast.
As of December 22, the cobalt spot worth was flat at US$23.24/lb, flat from US$23.25/lb final month. The LME cobalt worth is US$50,985/tonne. LME Cobalt stock is 165 tonnes, the identical because the 165 degree from final month. Extra particulars on cobalt pricing (specifically the extra related cobalt sulphate), will be discovered right here at Benchmark Mineral Intelligence or Quick Markets MB.
Cobalt spot costs – 5-year chart – USD 23.24 (supply)

Mining.com
UBS cobalt provide and demand forecast (as of 2021) – Rising deficits from 2023

UBS
BMI 2022 forecast for cobalt – Deficits constructing ranging from 2024

BMI
Development Investing v IEA demand forecast for EV metals (Development Investing) (IEA)

Development Investing and the IEA
2021 IEA forecast progress in demand for chosen minerals from clear vitality applied sciences by state of affairs, 2040 relative to 2020 – Will increase Of Lithium 13x to 42x, Graphite 8x to 25x, Cobalt 6x to 21x, Nickel 7x to 19x, Manganese 3x to 8x, Uncommon Earths 3x to 7x, And Copper 2x to 3x

IEA
2022 – BMI forecasts we want 330+ new EV metallic mines from 2022 to 2035 to fulfill surging demand – 62 new 5,000tpa cobalt mines (drops to 38 if embody recycling)

BMI
On December 1 S&P World reported:
Commodities 2023: Time period negotiations for 2023 cobalt difficult as China demand slumps, provides surge… Time period negotiations for 2023 cobalt took a difficult flip for sellers following the extreme decline in demand from China, which pressured costs and left the market effectively provided forward of subsequent yr’s anticipated surplus… Sulfate plunges on sluggish shopper electronics… Whereas the Chinese language EV sector has since rebounded, the buyer electronics sector, making up 30% of world cobalt demand, struggled towards weaker shopper spending… “The scrapping of EV subsidies in China subsequent yr is unquestionably impacting shoppers’ urge for food for uncooked supplies,” a Chinese language precursor maker mentioned.
On December 1 Looking for Alpha reported:
ProShares launches an ETF meant to capitalize on the rising demand for batteries… ProShares is seeking to seize with the launch of the ProShares S&P World Core Battery Metals ETF (ION). The fund, which hit the market on Thursday, presents publicity to international shares concerned within the mining of lithium, nickel or cobalt. In line with ProShares analysis, international demand for batteries is anticipated to develop by 25% yearly till a minimum of 2030.
On December 7 Argus Media reported:
Cobalt metallic costs diverge on demand shifts. World cobalt metallic costs have diverged on a reversal in demand throughout international markets, with energy now coming from aerospace and alloying functions, and weak spot in chemical markets feeding sure varieties of battery… Since China went into sporadic native lockdowns in March, there was a pointy drop in demand for electronics batteries and electrical automobile (EV) batteries. Whereas the EV market recovered, the electronics sector restoration did not materialise, leading to a swift downturn in cobalt costs in China.
On December 13 Investing Information reported:
“Caspar Rawles: Cathodes, anodes and what to anticipate in 2023… “Essentially, one of many challenges that probably performs into all of this, is that you may construct the battery crops, you’ll be able to construct the EV crops, you’ll be able to construct the cathode crops, but when you do not have the uncooked supplies to feed them, they’re simply costly weights in your steadiness sheet,” Rawles mentioned.
Glencore [HK:805] [LSE:GLEN] (OTCPK:GLCNF)
On December 5, Glencore introduced:
Glencore reaches settlement with the Democratic Republic of Congo over previous conduct… Underneath the Settlement, Glencore Worldwide AG, on behalf of its Congolese-associated corporations, pays the DRC US$180 million and can proceed to implement within the DRC the Ethics and Compliance Programme the Firm dedicated to proceed to implement in its decision with the DOJ. The Settlement is ruled by Congolese legislation and the one admissions made are in respect of the conduct already acknowledged in Glencore’s decision with the DOJ.
On December 5, Glencore introduced:
ACE Inexperienced Recycling indicators inter-continental Offtake Settlement with Glencore…
CMOC Group Restricted [HKSE:3993] [SHE:603993] (OTCPK:CMCLF) (previously China Molybdenum)
On November 23, Bloomberg reported: “Chinese language mining offers beneath evaluate as Congo targets windfall earnings.” Highlights embody:
On December 7, Mining.com reported:
China’s CMOC Group Ltd hit again at what it referred to as “wild overcharges” from Congo’s state mining firm Gecamines… Now Gecamines is asking CMOC for between $2 billion and $2.5 billion in money and an even bigger stake of between 49% and 51% in TFM, an official near the negotiations mentioned, declining to be named as a result of the talks are confidential.
Zheijiang Huayou Cobalt [SHA:603799]
On November 24, Zhejiang Huayou Cobalt introduced:
Chen Xuehua, Chairman of the Group attends the B20 Summit and indicators the Definitive Cooperation Settlement with Vale Indonesia…
On December 14, Buying and selling View reported: “Zhejiang Huayou Cobalt to speculate 400 Mln Yuan in funding fund.”
Jinchuan Group Worldwide Assets [HK:2362]
No vital information for the month.
Chemaf (subsidiary of Shalina Assets)
On November 21, Mining.com reported:
Trafigura will get $600m from Africa’s TDB for Congo cobalt mines. Commodities dealer Trafigura has agreed a $600 million syndicated financing facility with the Jap and Southern African Commerce and Improvement Financial institution (TDB) to develop cobalt and copper mines within the Democratic Republic of Congo. Trafigura mentioned the funding would allow it to finish Congo miner Chemaf’s new mechanised mine at Mutoshi, processing plant in Kolwezi, and the enlargement of its Etoile mine and processing plant in Lubumbashi…
GEM Co Ltd [SHE:002340]
No information for the month.
Traders can learn extra about GEM Co within the Development Investing article: “A Look At GEM Co Ltd – The World’s Largest Battery Recycling Firm” when GEM Co was buying and selling at CNY 5.08.
Eurasian Assets Group (“ERG”) – personal
ERG personal the Metalkol facility within the DRC the place ERG processes cobalt and copper tailings with a capability of as much as 24,000 tonnes of cobalt pa.
On December 6, ERG, introduced:
ERG and Gécamines restart operations at Boss Mining within the DRC. Eurasian Assets Group (ERG) and its joint-venture accomplice, La Générale des Carrières et des Mines (Gécamines), celebrated the kick-off of the restart of operations at Boss Mining with a ceremony held at its concession on 23 November 2022.
On December 19, ERG introduced:
Views on the cobalt, copper and aluminium markets for 2023: from Eurasian Assets Group. Cobalt provide going through enormous draw back dangers, while demand continues to surge – the market might rapidly transition from a average surplus to a deficit in 2023.Whole demand for cobalt within the subsequent 5 years shall be increased than all cobalt consumed within the first twenty years of this century.
Umicore SA [Brussels:UMI] (OTCPK:UMICY)
On November 24, Umicore SA introduced:
Umicore completes € 591 million sustainability linked personal debt placement. Umicore has efficiently accomplished the problem of a fixed-rate, sustainability linked US Non-public Placement Notes for a complete principal quantity of € 591 million equal¹… The transaction, of which the funds shall be drawn upon in January 2023, consists of a number of tranches with maturities starting from 5 to 12 years akin to a weighted common maturity of greater than eight years.
On December 1, Umicore SA introduced:
Umicore and PowerCo discover long-term strategic provide settlement for EV battery supplies in North America. Umicore and PowerCo, Volkswagen’s battery firm, purpose to increase their collaboration in battery supplies and are exploring a strategic long-term provide settlement¹ to serve PowerCo’s future battery Gigafactory for electrical automobiles (EVs) in North America.
Sumitomo Steel Mining Co. (TYO:5713) (OTCPK:STMNF)
No cobalt information for the month.
MMC Norilsk Nickel [LSX:MNOD] [GR:NNIC] (OTC:NILSY) (ADRs to stay in circulation till April 28, 2023)
On December 16, MMC Norilsk Nickel introduced:
Nornickel approves funds for 2023. Underneath the 2023 funding programme, the important thing tasks shall be supported, together with Sulphur Programme 2.0, mining tasks, tasks to take care of the infrastructure of gasoline and vitality belongings within the Norilsk Industrial District, change tools and perform capitalised repairs, in addition to social tasks. Subsequent yr, the Firm will move the height of the funding cycle. Thus, CAPEX is anticipated to rise 10% year-on-year to USD 4.7 bn.
OZ Minerals [ASX:OZL] (OTCPK:OZMLF)
On December 20, OZ Minerals introduced: “Exclusivity interval with BHP prolonged by one week…”
On December 21, OZ Minerals introduced: “Annual Mineral Useful resource and Ore Reserve replace demonstrates portfolio of long-life belongings…”
Sherritt Worldwide [TSX:S] (OTCPK:SHERF)
On December 1, Sherritt Worldwide introduced:
Sherritt agrees to buy $90 million of secured second Lien and Junior Notes pursuant to oversubscribed presents.
Nickel 28 [TSXV:NKL] [GR:3JC] (OTCPK:CONXF)
On December 20, Nickel 28 introduced: “Nickel 28 information fiscal Q3 monetary statements.” Highlights embody:
The Firm’s principal asset, an 8.56% joint-venture curiosity within the Ramu Nickel-Cobalt (“Ramu”) built-in operation in Papua New Guinea, had one other excellent quarter. Highlights from Ramu and the Firm in the course of the quarter embody:
Traders can view the corporate displays right here.
Jervois World Restricted [ASX:JRV] [TSXV: JRV] (OTCQX:JRVMF) [FRA: IHS] (previously Jervois Mining)
On November 28, Jervois World Restricted introduced: “Jervois appoints AFRY to guide Kokkola enlargement BFS.” Highlights embody:
On December 8, Jervois World Restricted introduced:
Jervois closes A$231, million fairness providing… Along with the institutional placement and institutional part of the entitlement provide (“Supply”), a complete of 549,598,088 New Shares at A$0.42 per share (the “Supply Worth”) had been issued, for combination gross proceeds of roughly A$231 million (US$150 million1).
Upcoming catalysts embody:
Electra Battery Supplies [TSXV:ELBM] (ELBM)
On December 14, Electra reported: “Electra acquires new cobalt venture and supplies replace on exploration actions in Idaho.” Highlights embody:
Upcoming catalysts embody:
Early 2023 – Goal to have their Ontario cobalt refinery operational with ore feed from Glencore.
Traders can view the corporate displays right here and a current Development Investing article on Electra right here.
Dawn Vitality Metals Restricted [ASX:SRL](OTCQX:SREMF)(previously Clear TeQ)
Dawn Vitality Metals has 132kt contained cobalt at their Dawn venture.
On December 20, Dawn Vitality Metals Restricted introduced:
Dawn Challenge receives conditional provide for $10 million grant from NSW Vital Minerals and Excessive-Tech Metals Activation Fund. CEO and Managing Director, Sam Riggall, mentioned: “The provide of a $10 million grant in the direction of the event of the Dawn Challenge clearly demonstrates the NSW Authorities’s dedication to offering materials monetary help to venture builders like Dawn Vitality Metals to deliver Australia’s important minerals and high-tech metals tasks to fruition…”
Upcoming catalysts embody:
2023 – Attainable off-take agreements and venture funding/partnering.
Traders may also learn the most recent firm presentation right here.
Australian Mines [ASX:AUZ] (OTCPK:AMSLF)
No vital information for the month.
Traders can learn the most recent firm presentation right here.
Upcoming catalysts embody:
Ardea Assets [ASX:ARL] (OTCPK:ARRRF)
In whole, Ardea has 5.9mt of contained nickel and 380kt of contained cobalt at their KNP Challenge close to Kalgoorlie in Western Australia. Ardea can also be exploring for gold and nickel sulphide on their >5,100 km2 of 100% managed tenements within the Jap Goldfields area of Western Australia.
On November 24, Ardea Assets introduced: “Ardea completes KNP ESG accreditation from unbiased main international platform…”
Upcoming catalysts embody:
Traders can learn the most recent firm presentation right here.
Cobalt Blue Holdings [ASX:COB] (OTCPK:CBBHF)
Cobalt Blue has 81.1kt of contained cobalt at their 100% owned Damaged Hill Cobalt Challenge [BHCP] (previously Thackaringa Cobalt Challenge) in NSW, Australia. LG Worldwide is an fairness strategic accomplice.
On December 5, Cobalt Blue Holdings introduced:
Non‐renounceable entitlement problem outcomes and shortfall placement. The entire funds raised beneath the Placement, Entitlement Concern and Shortfall Placement shall be $22,311,391.
On December 9, Cobalt Blue Holdings introduced: “Demonstration plant – Excessive grade focus outcomes.” Highlights embody:
Upcoming catalysts embody:
Traders can watch a CEO interview right here and a current presentation right here.
Havilah Assets [ASX:HAV] [GR:FWL]
Havilah 100% personal the Mutooroo copper-cobalt venture about 60km west of Damaged Hill in South Australia. Additionally they have the close by Kalkaroo copper-gold-cobalt venture (optioned to Oz Minerals), in addition to a probably massive iron ore venture at Grants. Havilah’s 100% owned Kalkaroo copper-gold-cobalt deposit accommodates JORC Mineral Assets of 1.1 million tonnes of copper, 3.1 million ounces of gold and 23,200 tonnes of cobalt.
On November 30, Havilah Assets introduced: “Quarterly actions and money stream report – Interval ended 31 October 2022.” Highlights embody:
Upcoming catalysts embody:
Traders can be taught extra by studying the Development Investing article “Havilah Assets Has Enormous Potential and/or the replace article. It’s also possible to view a CEO interview right here, and the corporate presentation right here.
Aeon Metals [ASX:AML](OTC:AEOMF)
Aeon Metals 100% personal their Walford Creek copper-cobalt venture in Queensland Australia.
On November 28, Aeon Metals introduced: “Le Mans drilling delivers sturdy outcomes.” Highlights embody:
GME Assets [ASX:GME][GR:GM9] (OTC:GMRSF)
GME Assets personal the NiWest Nickel-Cobalt Challenge situated adjoining to Glencore’s Murrin Murrin Nickel operations within the North Jap Goldfields of Western Australia. The NiWest Challenge which has an estimated 830,000 tonnes of nickel metallic and 52,000 tonnes of cobalt.
No vital information for the month.
Traders can learn an organization investor presentation right here.
World Vitality Metals Corp. [TSXV:GEMC][GR:5GE1] (OTCQB:GBLEF)
On November 28, World Vitality Metals Corp. introduced: “World Vitality Metals assays as much as 26.3% copper, 0.546% cobalt and 0.309% nickel from sampling program on the Lovelock Challenge in Nevada.” Highlights embody:
On December 5, World Vitality Metals Corp. introduced:
World Vitality Metals publicizes accomplice funded exploration at Millennium exceeds $1 million; Steel Financial institution to maneuver to Stage 2 earn-in by spending extra $2 million and problem shares to the worth of $350,000.
Giga Metals Corp. [TSXV:GIGA][FSE: BRR2] (OTCQX:HNCKF) (Turnagain Nickel Deposit now held through Laborious Creek Nickel Company [TSXV:HNC] (OTCQX:HNCKF)
On December 5, Giga Metals Corp. introduced: “Giga Metals to exit copper exploration Challenge in Brazil.”
The Metals Firm (TMC)
No information for the month.
Comfortable to listen to any information updates from commentators. Tickers of cobalt juniors we can even be following embody:
Canadian Palladium Assets (CSE: BULL) (OTCQB:DCNNF), African Battery Metals [AIM:ABM], Alloy Assets [ASX:AYR], Artemis Assets Ltd [ASX:ARV] (OTCQB:ARTTF), Aston Minerals [ASX:ASO] (previously European Cobalt), Auroch [ASX:AOU] [GR:T59], Azure Minerals [ASX:AZS] (OTCPK:AZRMF), African Vitality Metals [TSXV:BANC] [GR:BC2] (NDENF), Battery Mineral Assets [TSXV:BMR], BHP Group Restricted (BHP), Blackstone Minerals [ASX:BSX], Brixton Metals Company [TSXV:BBB], (OTCQB:BBBXF), Canada Nickel [TSXV:CNC], Canada Silver Cobalt Works Inc [TSXV:CCW] (OTCQB:CCWOF), Canadian Worldwide Minerals [TSXV:CIN], Carnaby Assets [ASX:CNB], Castillo Copper [ASX:CCZ], Celsius Assets [ASX:CLA] [GR:FX8], Centaurus Metals [ASX:CTM], CBLT Inc. [TSXV:KBLT] (OTCPK:CBBLF), Cobalt Energy 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], DLE Assets [TSXV:DLP], Dragon Vitality [ASX:DLE], Edison Battery Metals [TSXV:EDDY], Electrical Royalties [TSXV:ELEC], First Quantum Minerals Ltd. (OTCPK:FQVLF), Fortune Minerals [TSX:FT] (OTCQB:FTMDF), Fuse Cobalt Inc [CVE:FUSE] (WCTXF), Galileo [ASX:GAL], GME Assets [ASX:GME] (OTC:GMRSF), Stillwater Vital Minerals Corp. [TSXV:PGE] (OTCQB:PGEZF), Hinterland Metals Inc. (OTCPK:HNLMF), Hylea Metals [ASX:HCO], IGO Restricted [ASX:IGO] (OTCPK:IIDDY), Lion Rock Assets (OTCPK:KBGCF) [TSXV:KBG], Latin American Assets, M2 Cobalt Corp. (TSXV: MC) (OTCPK:MCCBF), MetalsTech [ASE:MTC], Meteoric Assets [ASX:MEI], Mincor Assets (OTCPK:MCRZF) [ASX:MCR], Namibia Vital Metals [TSXV:NMI] (OTCPK:NMREF), Pacific Rim Cobalt [BOLT:CSE], PolyMet Mining [TSXV:POM] (PLM), OreCorp [ASX:ORR], Energy Americas Minerals [TSXV:PAM], Panoramic Assets (OTCPK:PANRF) [ASX:PAN], Pioneer Assets Restricted [ASX:PIO], Platina Assets (OTCPK:PTNUF) [ASX:PGM], Quantum Cobalt Corp [CSE:QBOT] GR:23BA] (OTCPK:BRVVF), Queensland Pacific Metals [ASX:QPM] (OTCPK:QPMLF), Regal Assets (OTC:RGARF), Decision Minerals Ltd [ASX:RML], Sienna Assets [TSXV:SIE], (OTCPK:SNNAF), and Victory Mines [ASX:VIC].
December noticed cobalt spot costs flat and LME stock was additionally flat.
Highlights for the month had been:
As common all feedback are welcome.
Editor’s Word: This text discusses a number of securities that don’t commerce on a significant U.S. change. Please pay attention to the dangers related to these shares.
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