cobaltinvesting
Fortune Minerals (TSX:FT,OTCQB:FTMDF) will be working to secure strategic partners to invest in the NICO project following recent funding from the US and Canadian governments totaling C16.2 million to advance the cobalt-gold-bismuth-copper project to production, CEO and President Robin Goad told the Investing News Network. “So the financing plan for our asset, after we complete all the engineering and permitting work that's being covered by the US and Canadian governments, is to seek the project financing, which would probably be a combination of debt, but also equity. And the equity would be ...
Investing News Network
A report from Reuters suggests that China is gearing up to make a big move in the cobalt market, with plans to acquire up to 15,000 metric tons (MT) of cobalt metal from local producers this year. The acquisition, overseen by the state’s National Food and Strategic Reserves Administration, aims to bolster the country's stockpiles as it jumps from the 8,700 MT of cobalt metal purchased last year. The country’s decision to purchase such a substantial amount of cobalt is driven by several factors. Firstly, cobalt is a critical material in the production of electric vehicle (EV) batteries, an indu...
Investing News Network
In a bid to expand its electric vehicle (EV) capabilities, Honda Motor (NYSE:HMC) has announced plans to invest approximately C$15 billion to establish a comprehensive EV value chain in Ontario, Canada. The investment reflects Honda's efforts to meet the increasing long-term demand for EVs in North America. “Today's announcement is a historic investment by a manufacturer in the Canadian auto industry,” said Honda Canada President and CEO Jean Marc Leclerc in a company announcement on April 25. “It proudly honors the highly skilled associates who have earned a global reputation for manufacturin...
Investing News Network
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