Scientific Metals (“STM” or the “Company”) (TSXV:STM)(FRANKFURT:26X)(OTCQB:SCTFD) is pleased announce that it has acquired 25 unpatented lode mining claims, totalling 500 acres to the south extension of its flagship Iron Creek cobalt project. STM will have now expanded its land package to 1800 acres in the most prolific cobalt trend
Amnesty International claims to have traced cobalt used in batteries to mines where children are being paid a dollar a day to work in life-threatening conditions and are subjected to violence, extortion and intimidation.
By Jocelyn Aspa
INN and Berry discussed cobalt, what China Molybdenum’s (HKG:3993) acquisition of Freeport McMoran’s (NYSE:FCX) interest in the Tenke mine will mean for the industry going forward, if cobalt will be bigger than lithium in the battery business, how the cobalt industry has been surprising so far this year, and
What’s the cobalt outlook for 2016? The Investing News Network spoke with industry experts including Chris Berry and Andrew Miller to find out.
Metal Bulletin reported that cobalt industry members believe 2013 will be remembered for price falls. And unfortunately, even the Democratic Republic of the Congo’s planned ban on copper and cobalt concentrate exports does not look set to push prices up.
The Financial Times reported that the $2-billion cobalt industry, which for over two decades has used Metal Bulletin price assessments as a benchmark for transactions, is now switching over to the London Metal Exchange contract. Though the move is not expected to happen overnight, it is being described as “inevitable.”
Cobalt prices have been weakening this year due to oversupply and an expected surplus from new projects scheduled to start later this year. While demand is also increasing, a surplus of the metal is expected to last at least until 2016.
Merchant Research & Consulting released a report on the growing cobalt industry in the DRC.
Cobalt consumption has increased in 2010 and this trend should continue in coming years, due largely to the mineral’s use in rechargeable batteries, like those found in hybrid electric vehicles. What makes the future of cobalt somewhat uncertain, however, is that the industry is unusually complex and concerns about conflict
November 10, 2010 Vancouver, British Columbia – Dig Media Inc. is pleased to announce the launch of Cobalt Investing News.com with Puget Ventures Inc. (TSX.V: PVS) and Formation Metals Inc. (TSX:FCO).
www.cobaltinvestingnews.com is the newest addition to Dig Media’s network of commodity-focused websites that make up the Resource Investing News Network.