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Copper miner Tiger Resources plans to exit the Democratic Republic of the Congo (DRC) after securing a deal to offload its assets to a Hong Kong investment firm for $US260 million ($325 million).
Cobalt market news - "Electric vehicle revolution a rare investment opportunity as metals demand spikes." "BMW sees 10-fold jump in its need for battery materials by 2025." (63-1)
Cobalt miner news - Not a good month for Glencore/Katanga. eCobalt announced their FS results, and Clean TeQ changes their project name from Syerston to Clean TeQ Sunrise project. (42-0)
Cobalt market news - Auto manufacturers have turned their focus to the raw materials needed to feed the EV boom. (54-1)
Cobalt market news - "China to ban sale of fossil fuel cars in electric vehicle push." (97-0)
Cobalt spot price news - Cobalt spot prices rise slightly to reach US$26.54 by June 21. "Market participants anticipate prices to increase by 20-24pc by the end of the year."
Metal Tiger (LON: MTR), the natural resources investing company is pleased to announce its audited results for the year ended 31 December 2016.
Cobalt spot price news - Cobalt spot prices rose strongly to reach US$26.31 by June 22.
Note: This article was first published on my SA Marketplace service on March 24, 2017, so the stock prices and data are as of that date.
Welcome to the March 2017 cobalt miner news. The focus will be on the cobalt miners that are in, or reasonably near, production, as well as featuring a few promising juniors each month. For a background on the cobalt miners, investors can read my earlier articles:
Atalaya Mining plc (AIM:ATYM, TSX:AYM), the European mining and development company, announces its audited results for the year ended 31 December 2016.
Cobalt miner news - Glencore CEO said "in 2018, our overall cobalt production goes into the 50,000 tonnes to 60,000 tonnes range.".
Tiger Resources (ASX:TGS) has been granted a trading halt by the ASX, pending an update on the operations at the company’s Kipoi Copper Mine in the DRC.
Katanga Mining has many problems right now - their mine is closed, their debt is very high, and the copper and cobalt prices are still too low for them.
A critical point to understand when investing in cobalt companies is the impact of associated metals such as copper and nickel (or molybdenum) prices have on the cobalt producer.