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

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Welcome to the October 2022 cobalt miners information.
The previous month noticed the U.S. DoE award $2.8 billion in grants to supercharge U.S. manufacturing of batteries for electrical automobiles and the electrical grid. For some cause cobalt associated corporations missed out whereas lithium, graphite
As of October 21, the cobalt spot worth was flat at US$23.25/lb, from US$23.25/lb final month. The LME cobalt worth is US$51,015/tonne. LME Cobalt stock is 168 tonnes, decrease than 178 final month. Extra particulars on cobalt pricing (specifically the extra related cobalt sulphate), might be discovered right here at
Cobalt spot costs – 5-year chart – USD 23.25 (supply)

Cobalt spot prices 5 year chart


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

UBS cobalt supply and demand forecast


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

UBS's EV metals demand forecast


UBS forecasts Yr battery metals go into deficit – Supply: UBS courtesy Carlos Vicens LinkedIn

UBS forecasts Year battery metals go into deficit


2021 IEA forecast development in demand for chosen minerals from clear vitality applied sciences by situation, 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

2021 IEA forecast growth in demand for selected minerals from clean energy technologies by scenario, 2040 relative to 2020


BMI 2022 forecast for cobalt – Deficits constructing ranging from 2024

BMI 2022 forecast for cobalt - Deficits building starting from 2024


2022 – BMI forecasts we’d like 330+ new EV steel mines from 2022 to 2035 to satisfy surging demand – 62 new 5,000tpa cobalt mines (drops to 38 if embrace recycling)

We need 330+ new EV metal mines from 2022 to 2035 to meet surging demand - 62 new 5,000tpa cobalt mines (38 if include recycling)


On October 14 The Monetary Publish reported:
Canada will fast-track vitality and mining initiatives necessary to allies: Freeland…Canada should fast-track vitality and mining initiatives whether it is to assist its democratic allies and obtain its personal net-zero ambitions, Deputy Prime Minister Chrystia Freeland stated in a speech this week in Washington…Freeland additionally addressed requires the federal authorities to create incentives to decarbonize on par with these within the U.S. Inflation Discount Act – laws that might immediate a surge in funding in emissions discount and renewables south of the border over the subsequent decade.
On October 17 Investing Information reported:
Cobalt market replace: Q3 2022 in overview…In Q3, macroeconomic headwinds continued to hit the cobalt sector, limiting demand from a number of industries…EV demand in China can also be more likely to decide up as This fall is a historically sturdy interval for automakers…The patron electronics sector is unlikely to enhance… provide, cobalt mine output rose 12 % year-on-year in 2021 to 160,000 metric tons after falling in 2020…”There will probably be restricted danger to supply-side fundamentals in This fall as (all through 2022) sturdy cobalt manufacturing, particularly within the DRC, together with restricted demand, has pushed the cobalt market into a major surplus this 12 months,” Hughes stated.
On October 18 Yahoo Finance reported (on Straits Analysis):
The worldwide cobalt market dimension was valued at USD 8712 million in 2021 and is projected to achieve USD 19,470 million by 2030 at a CAGR of 9.3% from 2022 to 2030. China is anticipated to dominate the worldwide cobalt market.
On October 19 CNBC reported:
“Elon Musk addresses Twitter takeover, potential recession on Tesla earnings name. “Tesla wrote, in its shareholder deck, “We proceed to consider that battery provide chain constraints would be the most important limiting issue to EV market development within the medium and lengthy phrases.”
Be aware: Daring emphasis by the writer.
On October 19 Vitality.Gov introduced:
Biden-Harris administration awards $2.8 Billion to supercharge U.S. manufacturing of batteries for electrical automobiles and electrical grid. The 20 corporations will obtain a mixed $2.8 billion to construct and broaden commercial-scale amenities in 12 states to extract and course of lithium, graphite and different battery supplies, manufacture elements, and reveal new approaches, together with manufacturing elements from recycled supplies. The Federal funding will probably be matched by recipients to leverage a complete of greater than $9 billion to spice up American manufacturing of fresh vitality expertise, create good-paying jobs, and help President Biden’s nationwide targets for electrical automobiles to make up half of all new automobile gross sales by 2030 and to transition to a net-zero emissions economic system by 2050…DOE anticipates shifting rapidly on extra funding alternatives to proceed to fill gaps in and strengthen the home battery provide chain…The President additionally introduced the launch of the American Battery Materials Initiative…The Initiative will coordinate home and worldwide efforts to speed up allowing for important minerals initiatives, guaranteeing that the USA develops the assets the nation wants in an environment friendly and well timed method, whereas strengthening Tribal session, group engagement, and environmental requirements to construct smarter, sooner, and fairer.
Glencore [HK:805] [LSE:GLEN] (OTCPK:GLCNF)
No cobalt associated information for the month.
CMOC Group Restricted [HKSE:3993] [SHE:603993] (OTCPK:CMCLF) (previously China Molybdenum)
No information for the month.
Zhejiang Huayou Cobalt [SHA:603799]
On September 22, Zhejiang Huayou Cobalt reported:
[Media coverage of Huayou] Huayou Cobalt joins fingers with Tesla to consolidate its main place in lithium battery materials integration… The settlement stipulates that the businesses plan to produce the battery materials ternary precursor merchandise to Tesla from July 1, 2022 to December 31, 2025…The corporate will affirm its income within the related years in line with the efficiency of the settlement, which is anticipated to have a optimistic influence on the corporate’s working efficiency from 2022 to 2025…Primarily based on its efficiency within the first half of 2022, Huayou Cobalt is anticipated to make a revenue of over 2.2 billion yuan within the first half of this 12 months, a year-on-year enhance of over 49.86%.
On October 20, Zhejiang Huayou Cobalt introduced:
Huayou Cobalt and Vale Indonesia signal the Venture Framework Settlement of Sorowako excessive strain acid leaching…
Jinchuan Group Worldwide Sources [HK:2362]
On October 17, Jinchuan Group introduced:
Jinchuan Group seals place as key metals producer…The group is house to the world’s third-largest sulfide nickel and copper deposit, and has constructed amenities together with the primary nickel flash smelting furnace of its sort in Asia and the fifth on the planet.
Chemaf (subsidiary of Shalina Sources)
No information for the month.
GEM Co Ltd [SHE:002340]
No vital information for the month.
Buyers 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 Sources 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.
No information for the month.
Umicore SA [Brussels:UMI] (OTCPK:UMICY)
On September 26, Umicore SA introduced: “Umicore and PowerCo set up three way partnership for European battery supplies manufacturing.” Highlights embrace:
Sumitomo Metallic Mining Co. (TYO:5713) (OTCPK:STMNF)
No cobalt associated information for the month.
MMC Norilsk Nickel [LSX:MNOD] [GR:NNIC] (OTC:NILSY) (ADRs to stay in circulation till April 28, 2023)
On October 4, MMC Norilsk Nickel introduced:
Nornickel cancels treasury shares. Nornickel, the world’s largest producer of palladium and high-grade nickel and a serious producer of platinum and copper, announcesthatthe791,227ordinary shares, which had been purchased again from shareholders in June 2021,werecancelled yesterday.
On October 17, MMC Norilsk Nickel introduced: ‘Nornickel experiences profitable placement of rub 25 bn exchange-traded bonds…”
On September 23, OZ Minerals introduced: “Inexperienced Mild for West Musgrave Venture.” Highlights embrace:
Sherritt Worldwide [TSX:S] (OTCPK:SHERF)
On October 5, Sherritt Worldwide introduced: “Sherritt releases its 2021 sustainability experiences.”
On October 13, Sherritt Worldwide introduced:
Sherritt finalizes transformative five-year cost agreements with its Cuban companions to settle $362 million of excellent receivables…Beneath the agreements, the Moa Joint Enterprise (Moa JV) will prioritize cost of dividends within the type of completed cobalt to every accomplice, as much as an annual most quantity of cobalt, with any extra dividends in a given 12 months to be distributed in money. The entire Cuban accomplice’s share of those cobalt dividends, and doubtlessly more money dividends, will probably be redirected to Sherritt as cost to settle the receivables till an annual greenback restrict, together with the gathering of any prior 12 months shortfalls, has been reached. All quantities are in Canadian foreign money except in any other case famous.
On September 29, Nickel 28 introduced: “Nickel 28 information fiscal Q2 monetary statements.” Highlights embrace:
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 through the quarter embrace:
Buyers can view the corporate shows right here.
Jervois International Restricted [ASX:JRV] [TSXV: JRV] (OTCQX:JRVMF) [FRA: IHS] (previously Jervois Mining)
On September 23, Jervois International Restricted introduced:
Jervois receives environmental approval for SMP Stage 1 building… This license from the State environmental regulator, Companhia Ambiental do Estado de São Paulo (“CETESB”), represents São Paulo State approval for building of the Stage 1 SMP restart, one other necessary milestone as Jervois continues detailed engineering on the restart previous to remaining funding choice. Jervois forecasts to provide 10,000 metric tonnes every year (“mtpa”) and a pair of,000 mtpa of refined nickel and cobalt steel cathode respectively in Stage 1.
On October 10, Jervois International Restricted introduced: “Jervois commences commissioning at Idaho Cobalt Operations within the U.S.” Highlights embrace:
On October 20, Jervois International Restricted introduced: “Jervois secures long run renewable vitality at its Finland operations.”
On October 21 Jervois International Restricted introduced: “Jervois Quarterly Actions Report back to 30 September 2022.”
Upcoming catalysts embrace:
Electra Battery Supplies [TSXV:ELBM] (ELBM)
On October 5, Electra Battery Supplies reported: “Electra confirms cobalt mineralization at new goal in Idaho.”
On October 13, Electra Battery Supplies reported:
Electra begins commissioning of Battery Supplies Recycling Demonstration Plant at its Ontario Refinery Advanced…
Upcoming catalysts embrace:
Early 2023 – Goal to have their Ontario cobalt refinery operational with ore feed from Glencore.
Buyers can view the corporate shows right here and a latest 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.
No vital information for the month.
Upcoming catalysts embrace:
2022 – Potential off-take agreements and venture funding/partnering.
Buyers may learn the newest firm presentation right here.
Fortune Minerals [TSX:FT] (OTCQB:FTMDF)
On October 3, Fortune Minerals introduced:
Fortune Minerals extends Choice to accumulate the Alberta Refinery Web site for the NICO Essential Minerals Venture.
Upcoming catalysts embrace:
Buyers can learn the newest firm presentation right here, or an organization pitch video right here.
Australian Mines [ASX:AUZ] (OTCPK:AMSLF)
No cobalt information for the month.
Buyers can learn the newest firm presentation right here.
Upcoming catalysts embrace:
Ardea Sources [ASX:ARL] (OTCPK:ARRRF)
In whole, Ardea has 5.9mt of contained nickel and 380kt of contained cobalt at their KNP Venture 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 Japanese Goldfields area of Western Australia.
On September 27, Ardea Sources introduced: “2022 annual report.”
On October 14, Ardea Sources introduced: “Emu Lake nickel sulphide exploration replace.” Highlights embrace:
Upcoming catalysts embrace:
Buyers can learn the newest 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 Venture [BHCP] (previously Thackaringa Cobalt Venture) in NSW, Australia. LG Worldwide is an fairness strategic accomplice.
On October 6, Cobalt Blue Holdings introduced: “Demonstration Plant -Ore processing replace.” Highlights embrace:
Upcoming catalysts embrace:
Buyers can watch a CEO interview right here and a latest presentation right here.
Havilah Sources [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 doubtlessly giant iron ore venture at Grants. Havilah’s 100% owned Kalkaroo copper-gold-cobalt deposit accommodates JORC Mineral Sources of 1.1 million tonnes of copper, 3.1 million ounces of gold and 23,200 tonnes of cobalt.
On September 29, Havilah Sources introduced: “Mutooroo copper-cobalt-gold deposit drilling outcomes.” Highlights embrace:
On October 4, Havilah Sources introduced: “OZ Minerals strategic alliance first $3m cost.” Highlights embrace:
Upcoming catalysts embrace:
Buyers can be taught extra by studying the Development Investing article “Havilah Sources Has Big Potential and/or the replace article. You can too 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 September 23, Aeon Metals introduced: “Drilling success at Walford Creek extends mineralisation at Le Mans.” Highlights embrace:
On September 30, Aeon Metals introduced: “30 June 2022 annual report.”
Buyers can view the newest firm presentation right here.
Schematic displaying the Walford Creek strike zones (supply)

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Schematic showing the Walford Creek strike zones

Aeon Metals

Aeon Metals
GME Sources personal the NiWest Nickel-Cobalt Venture positioned adjoining to Glencore’s Murrin Nickel operations within the North Japanese Goldfields of Western Australia. The NiWest Venture which has an estimated 830,000 tonnes of nickel steel and 52,000 tonnes of cobalt.
On October 10 GME Sources reported: “GME and Stellantis signal non-binding MOU for future offtake of battery grade nickel and cobalt sulphate.”
On October 12 GME Sources introduced:
Profitable placement to advance NiWest Nickel Cobalt Venture. Agency commitments acquired for a Placement of roughly 42.1 million shares at a worth of A$0.095 to boost A$4.0 million. Proceeds from the Placement will probably be utilized in the direction of the Definitive Feasibility Examine for the NiWest Nickel-Cobalt Venture and common working capital.
Buyers can learn an organization investor presentation right here.
International Vitality Metals Corp. [TSXV:GEMC][GR:5GE1] (OTCQB:GBLEF)
On October 17, International Vitality Metals Corp. introduced: “International Vitality Metals declares outcomes of accomplice funded exploration on the Millennium Venture together with affirmation of excessive cobalt and copper grades.” Highlights embrace:
Be aware: “The exploration program is being absolutely funded by Metallic Financial institution Ltd. (“MBK”) because it earns as much as an 80% curiosity within the venture by means of staged exploration and milestone share fairness funds. International Vitality Metals at the moment holds 100% of the Venture by means of its wholly-owned subsidiary Factor Minerals Australia Pty Ltd and has a 31,250,000 share fairness place in MBK.”
Giga Metals Corp. [TSXV:GIGA][FSE: BRR2] (OTCQX:HNCKF) (Turnagain Nickel Deposit now held through Onerous Creek Nickel Company [TSXV:HNC] (OTCQX:HNCKF)
No information for the month.
The Metals Firm (TMC)
On September 30, The Metals Firm introduced:
Revolutionary settlement could have union staff processing important minerals from seafloor nodules for manufacturing of electrical automobile batteries…
On October 5, The Metals Firm introduced:
TMC Subsidiary NORI commences monitoring of the Environmental Impacts of Pilot Nodule Assortment System Trials within the Clarion-Clipperton Zone…
On October 12, The Metals Firm introduced:
TMC and Allseas obtain historic milestone: Nodules collected from the seafloor and lifted to the manufacturing vessel utilizing 4 km riser throughout pilot trials within the Clarion Clipperton Zone for first time because the Seventies…
Completely happy to listen to any information updates from commentators. Tickers of cobalt juniors we may also be following embrace:
twenty first Century Metals (CSE: BULL) (OTCQB:DCNNF), African Battery Metals [AIM:ABM], Alloy Sources [ASX:AYR], Artemis Sources Ltd [ASX:ARV] (OTCQB:ARTTF), Aston Minerals [ASX:ASO] (previously European Cobalt), Auroch [ASX:AOU] [GR:T59], Azure Minerals [ASX:AZS] (OTCPK:AZRMF), Bankers Cobalt [TSXV:BANC] [GR:BC2] (NDENF), Battery Mineral Sources [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 Sources [ASX:CNB], Castillo Copper [ASX:CCZ], Celsius Sources [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 Sources [TSXV:DLP], Dragon Vitality [ASX:DLE], Edison Battery Metals [TSXV:EDDY], Electrical Royalties [TSXV:ELEC], First Quantum Minerals Ltd. (OTCPK:FQVLF), Fuse Cobalt Inc [CVE:FUSE] (WCTXF), Galileo [ASX:GAL], GME Sources [ASX:GME] (OTC:GMRSF), Stillwater Essential Minerals Corp. [TSXV:PGE] (OTCQB:PGEZF), Hinterland Metals Inc. (OTCPK:HNLMF), Hylea Metals [ASX:HCO], IGO Restricted [ASX:IGO] (OTCPK:IIDDY), King’s Bay Res (OTCPK:KBGCF) [TSXV:KBG], Latin American Sources, M2 Cobalt Corp. (TSXV: MC) (OTCPK:MCCBF), MetalsTech [ASE:MTC], Meteoric Sources [ASX:MEI], Mincor Sources (OTCPK:MCRZF) [ASX:MCR], Namibia Essential Metals [TSXV:NMI] (OTCPK:NMREF), Pacific Rim Cobalt [BOLT:CSE], PolyMet Mining [TSXV:POM] (PLM), OreCorp [ASX:ORR], Energy Americas Minerals [TSXV:PAM], Panoramic Sources (OTCPK:PANRF) [ASX:PAN], Pioneer Sources Restricted [ASX:PIO], Platina Sources (OTCPK:PTNUF) [ASX:PGM], Quantum Cobalt Corp [CSE:QBOT] GR:23BA] (OTCPK:BRVVF), Queensland Pacific Metals [ASX:QPM] (OTCPK:QPMLF), Regal Sources (OTC:RGARF), Decision Minerals Ltd [ASX:RML], Sienna Sources [TSXV:SIE], (OTCPK:SNNAF), and Victory Mines [ASX:VIC].
October noticed cobalt spot costs flat and LME stock was barely decrease.
Highlights for the month had been:
As common all feedback are welcome.
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