Cobalt Investing News

Will Chinese Buyers Switch from Cobalt Concentrate to Metal?

Charlotte McLeod — Wed, 15 May 2013 18:06:39 +0000

MetalBulletin reported that if prices for cobalt metal remain under $13 per pound, Chinese buyers will likely switch to metal from concentrate.

Cobalt Prices See Little Movement as Market Awaits CDI Conference

Charlotte McLeod — Wed, 15 May 2013 18:00:06 +0000

MetalBulletin reported that both low- and high-grade cobalt prices are steady as market players wait for direction from the Cobalt Development Institute conference scheduled for next week. Prices for low-grade cobalt sit between $12.50 and $14 per pound, while high-grade prices are between $12.90 and $14.10 per pound.

Formation Metals Redeems US$43.6 in Bond Debt

Pia Rivera — Mon, 13 May 2013 20:44:21 +0000

Formation Metals Inc. (TSX:FCO) announced that it has redeemed the bond debt of US$43.6 million. The debt was made available through the Federal Stimulus Package Recovery Zone Facility Bonds to complete Phase I and Phase II construction of the Company's 100% owned Idaho Cobalt Project. The debt was redeemed using the Company's cash which had been restricted as collateral for the bonds.

Low Supply, DRC Uncertainty Pushing Cobalt Prices Up

Charlotte McLeod — Fri, 03 May 2013 17:45:07 +0000

Mining Weekly reported that the price of high-grade cobalt has been on the rise since the beginning of the year and is now sitting at $13.50 per pound. The price is being pushed up by low cobalt supplies and uncertainty about the availability of concentrate from the Democratic Republic of the Congo.

PROJECT UPDATE: Formation Metals Halts Work at Idaho Cobalt Project

Charlotte McLeod — Thu, 02 May 2013 17:30:38 +0000

Formation Metals announced that as a result of low cobalt prices and market uncertainty, for the moment it will not be continuing with development at its flagship Idaho cobalt project.

Formation Metals Sets Focus on Sunshine Precious Metals Refinery

Pia Rivera — Thu, 02 May 2013 13:49:45 +0000

Formation Metals Inc. (TSX:FCO) announced that it will defer underground development or any related construction on its Idaho Cobalt Project, as was anticipated in the Company's news release dated December 12, 2012. The Company will be focusing on the advancement of the business at the Sunshine Precious Metals Refinery to increase cash flow, and on a strategic review of its precious metals properties.

Sherritt International Corporation Announces Q1 Net Earnings of 23.1 Million

Heather Wright — Fri, 26 Apr 2013 18:10:50 +0000

Sherritt International Corporation (TSX:S) announced their Q1 earnings, including net earnings of $23.1 million.

Lundin Mining Corporation Sells 2,555 tonnes of Cobalt in Q1

Heather Wright — Thu, 25 Apr 2013 16:21:16 +0000

Lundin Mining Corporation (TSX:LUN, OMX:LUMI) announced their first quarter results and highlights, including the closure of the of the acquisition of the Kokkola cobalt refinery. As quoted in the press release:

Cobalt Producers Urge DRC to Lift Ban, Cite Country’s Inadequate Electricity Supply

Heather Wright — Wed, 24 Apr 2013 18:50:45 +0000

Bloomberg reported that cobalt producers are urging the DRC government to lift a ban on cobalt exports. According the cobalt producers, there is not the proper infrastructure in place, including electricity to support this initiative

Three Critical Takeaways from the Congo’s Cobalt Ban

Dave Forest — Wed, 24 Apr 2013 11:00:08 +0000

What investors need to know about new mining rules in top cobalt producer Democratic Republic of the Congo.