Fortune Minerals and Rio Tinto Collaborate to Expand North American Critical Minerals Production

Fortune Minerals and Rio Tinto Collaborate to Expand North American Critical Minerals Production

 

 Fortune Minerals Limited ("Fortune") ( www.fortuneminerals.com ) and Rio Tinto   are collaborating to develop technology that will improve recovery of the critical minerals cobalt and bismuth. Under a Memorandum of Understanding signed between the companies, testing will be done at Rio Tinto Kennecott's integrated copper mining and smelting operations in Utah and at Fortune's planned Alberta Refinery.

 

The partnership aims to maximize the value of critical mineral supply chain investments and increase Fortune's planned cobalt and bismuth refining operations to process co-product streams of the minerals recovered from the Kennecott smelter.

 

In 2020, the Canadian and U.S. governments signed a Joint Action Plan on Critical Mineral Collaboration to enable more North American production of the Critical Minerals needed in new technologies. Cobalt and bismuth are both included in this list and are used for sustainable energy resources. Fortune and Rio Tinto are pleased to establish this partnership and work together to expand North American supply chains.

 

Cobalt is used to manufacture lithium-ion rechargeable batteries and store energy in electric vehicles, portable electronics, and stationary storage cells. Bismuth is used in automotive coatings, paints, and low temperature alloys and castings. Consumption is growing primarily as a non-toxic and environmentally safe replacement for lead for products used in potable drinking water sources and electronics, glass, and ammunition. A significant new use for bismuth is in environmentally safe, high density plugs to properly decommission oil and gas wells, preventing greenhouse gas leakage, blowouts, and aquifer contamination. Manganese-bismuth magnets have also been identified for potential replacement of rare earth elements in electric vehicle powertrains.

 

Robin Goad, President and CEO of Fortune Minerals said, "Working with Rio Tinto to recover metals from their co-product streams is part of our corporate strategy to expand production of critical minerals, and we are excited to be working with one of the world's premier mining companies on the first of these opportunities. This collaboration could provide a solution to support greater production of the metals needed for the energy transition and growing sustainable economy."  

 

Rio Tinto Kennecott Managing Director Nate Foster commented, "We are committed to find better ways to provide the materials the world needs to grow and decarbonize. We are enthusiastic about this partnership with Fortune Minerals as we continue looking at our waste streams to develop new, sustainable sources of critical minerals here in North America."  

 

Rio Tinto is a multinational diversified mining company with a global footprint that includes the world-class Kennecott integrated operations outside of Salt Lake City, Utah, U.S.A. For 120 years, Kennecott has been mining and processing copper and other minerals including gold, silver, molybdenum and tellurium from the rich ore body of the Bingham Canyon Mine.

 

Fortune is developing its 100 percent owned, vertically integrated NICO Cobalt-Gold-Bismuth-Copper Project in Canada. This Critical Minerals asset is comprised of a planned mine, mill and concentrator in the Northwest Territories and a related hydrometallurgical refinery in Alberta where concentrates from the mine would be processed.

 

Fortune and Rio Tinto are working together to assess different process methods and technology options to recover the bismuth and cobalt contained in Kennecott's smelter waste streams. This includes assessing the effectiveness of blending Rio Tinto's intermediate products with NICO Project concentrates and conducting batch recovery tests using Fortune's refinery flow sheets.

 

  About Fortune Minerals:  

 

Fortune is a Canadian mining company focused on developing the vertically integrated NICO Cobalt-Gold-Bismuth-Copper Critical Minerals project in the Northwest Territories and Alberta. The NICO Project consists of a planned open pit and underground mine and concentrator and a related refinery in Alberta where the Company will process concentrates from the mine to value added metals and chemicals. The NICO Project is an advanced development stage asset that has received environmental assessment approval and the major mine permits for the Northwest Territories facilities. The NICO Project has been assessed in positive Feasibility and Front-End Engineering and Design studies that will be updated to reflect recent project optimizations and the new proposed refinery site in Alberta.

 

  This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities legislation. This forward-looking information includes statements with respect to, among other things, a commercially feasible collaboration with Rio Tinto to expand critical minerals production, the successful construction and completion of the proposed hydrometallurgical refinery at the Alberta site, and the Company's plans to develop the NICO Project, including the development and construction of the planned NICO cobalt-gold-bismuth-copper mine and concentrator. Forward-looking information is based on the opinions and estimates of management as well as certain assumptions at the date the information is given (including, in respect of the forward-looking information contained in this press release, assumptions regarding: the feasible collaboration with Rio Tinto, the Company's ability to secure the necessary financing, the Company's ability to complete construction of a NICO Project refinery; the Company's ability to arrange the necessary financing to continue operations and develop the NICO Project; the receipt of all necessary regulatory approvals for the construction and operation of the NICO Project, including the planned NICO cobalt-gold-bismuth-copper mine and concentrator and the timing thereof; growth in the demand for cobalt; the time required to construct the NICO Project; and the economic environment in which the Company will operate in the future, including the price of gold, cobalt and other by-product metals, anticipated costs and the volumes of metals to be produced at the NICO Project). However, such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include the risks that global geopolitical situations may interfere with the Company's ability to continue development of the NICO Project, the MOU with Rio Tinto may not result in a commercially feasible or mutually beneficial relationship, the Company may not be able to finance and develop NICO on favourable terms or at all, uncertainties with respect to the receipt or timing of required permits, approvals and agreements for the development of the NICO Project, including the related hydrometallurgical refinery, the construction of the NICO Project may take longer than anticipated, the Company may not be able to secure offtake agreements for the metals to be produced at the NICO Project, the Sue-Dianne Property may not be developed to the point where it can provide mill feed to the NICO Project, the inherent risks involved in the exploration and development of mineral properties and in the mining industry in general, the market for products that use cobalt or bismuth may not grow to the extent anticipated, the future supply of cobalt and bismuth may not be as limited as anticipated, the risk of decreases in the market prices of cobalt, bismuth and other metals to be produced by the NICO Project, discrepancies between actual and estimated Mineral Resources or between actual and estimated metallurgical recoveries, uncertainties associated with estimating Mineral Resources and Reserves and the risk that even if such Mineral Resources prove accurate the risk that such Mineral Resources may not be converted into Mineral Reserves once economic conditions are applied, the Company's production of cobalt, bismuth and other metals may be less than anticipated and other operational and development risks, market risks and regulatory risks. Readers are cautioned to not place undue reliance on forward-looking information because it is possible that predictions, forecasts, projections, and other forms of forward-looking information will not be achieved by the Company. The forward-looking information contained herein is made as of the date hereof and the Company assumes no responsibility to update or revise it to reflect new events or circumstances, except as required by law.  

 

  

  

For further information:
 Fortune Minerals Limited  
Troy Nazarewicz
Investor Relations Manager
info@fortuneminerals.com  
Tel: (519) 858-8188
www.fortuneminerals.com  

 

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Battery-grade cobalt for the electric transition with gold co-production

Fortune Minerals Announces Results of Annual Meeting of Shareholders

Fortune Minerals Announces Results of Annual Meeting of Shareholders

 

  Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) ("Fortune" or the "Company") ( www.fortuneminerals.com ) reports that the nominees listed in the management information circular for the 2025 Annual Meeting of Shareholders held on June 24, 2025 (the "Meeting") were elected as directors of Fortune. Detailed results of the vote based on proxies received are set out below:

 
 

  Nominee  

 

Shareholders also approved the re-appointment of McGovern Hurley LLP as the auditor of Fortune. The presentation made at the Annual Meeting is available on the Company's website.

 

  About Fortune Minerals:
Fortune is a Canadian mining company focused on developing the NICO cobalt-gold-bismuth-copper critical minerals project in the NWT and Alberta. Fortune also owns the satellite Sue-Dianne copper-silver-gold deposit located 25 km north of the NICO Deposit and is a potential future source of incremental mill feed to extend the life of the NICO mill and concentrator.

 

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@FortuneMineral on Twitter.

 

  

  

 

For further information please contact:
 Fortune Minerals Limited  
Troy Nazarewicz
Investor Relations Manager
info@fortuneminerals.com  
Tel: (519) 858-8188
www.fortuneminerals.com  

 

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Fortune Minerals Reports Successful NICO Project Bismuth Test Work Results for the Planned Alberta Refinery

Fortune Minerals Reports Successful NICO Project Bismuth Test Work Results for the Planned Alberta Refinery

 

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Fortune Minerals Provides NICO Project Commodity Update

 

  Bismuth prices have tripled in recent weeks, gold prices are at an all-time high, and the Congo has placed a moratorium on the export of cobalt to support higher prices  

 

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Fortune Minerals Provides an Update of NICO Project Test Work, Rio Tinto Process Collaboration & Feasibility Study

Fortune Minerals Provides an Update of NICO Project Test Work, Rio Tinto Process Collaboration & Feasibility Study

 

  The Company is advancing the NICO Project toward a construction decision with U.S. & Canadian Government financial support from critical minerals supply chain security programs  

 

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Fortune Minerals Announces Second Draw From Convertible Securities Agreement With The Lind Partners

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  Proceeds to provide working capital & pre-fund government supported work programs
 

 

  NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES  

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Lithium Universe Ltd  Interview with Executive Chairman

Lithium Universe Ltd Interview with Executive Chairman

Melbourne, Australia (ABN Newswire) - Lithium Universe Limited (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF) is pleased to announce an interview with Executive Chairman, Iggy Tan at the recent Lithium Supply & Battery Raw Materials Conference in Las Vegas. The interview was conducted by The Rock Stock Channel.

Interview Highlights

- Discussions with potential spodumene feedstock offtakers ongoing

- Further talks with potential OEMs on battery grade lithium carbonate offtake

- All work completed on Becancour Lithium Project - waiting for lithium market recovery

- Acquisition of global rights photovoltaic (PV) solar panel recycling technology

- "Microwave Joule Heating Technology" (MJHT) from Macquarie University

- Utilizes microwave technology to selectively heat and delaminate PV cells

- Today only 15% of waste solar cells are recycled, rest end up in land fill

- Difficult to recycle, high temperature furnace, toxic chemicals, low recovery

- To investigate further recovery of silver, silicon, gallium and indium

To Watch the Interview, please visit:
https://www.abnnewswire.net/lnk/S0S4T95N

 

About Lithium Universe Ltd:  

Lithium Universe Ltd (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF), headed by industry trail blazer, Iggy Tan, and the Lithium Universe team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.

Instead of exploring for the sake of exploration, Lithium Universe's mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects.

 

 

Source:
Lithium Universe Ltd

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Lithium Universe Ltd  PV SOLAR CELL Recycling Acquisition Legal Due Diligence Complete

Lithium Universe Ltd PV SOLAR CELL Recycling Acquisition Legal Due Diligence Complete

Melbourne, Australia (ABN Newswire) - Lithium Universe Limited (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF) is pleased to announce that further to its announcement dated 18 June 2025 (Announcement), it has now completed legal due diligence to its absolute satisfaction. As such, the Company is now progressing towards completion of the Acquisition (defined below).

ACQUISITION DETAILS

As detailed in the Announcement, the Company has entered into a binding agreement to acquire the global rights to commercially exploit a patented photovoltaic (PV) solar panel recycling technology known as Microwave Joule Heating Technology. The rights will be secured via an exclusive licensing agreement with Macquarie University (MQU), held through an Australian-incorporated holding company, New Age Minerals Pty Ltd (NAM). The transaction will be effected by the Company acquiring 100% of the issued share capital of NAM (Acquisition).

As disclosed in the Announcement, completion of the Acquisition was conditional on the Company completing legal due diligence. This has now been completed to the satisfaction of the Company.

Completion was also conditional on the Company, NAM and MQU entering into a variation to the licensing agreement to reflect the change in ownership of NAM. The parties have since agreed in writing to waive this condition to allow completion of the Acquisition to proceed, with the variation to be entered into with MQU as soon as practicable following completion.

The Company will now proceed to the acquisition of NAM.

 

About Lithium Universe Ltd:  

Lithium Universe Ltd (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF), headed by industry trail blazer, Iggy Tan, and the Lithium Universe team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.

Instead of exploring for the sake of exploration, Lithium Universe's mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects.

 

 

Source:
Lithium Universe Ltd

News Provided by ABN Newswire via QuoteMedia

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