PALM BEACH, Florida, May 2, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
Booming demand for cellphone and electric-vehicle batteries alone has created a once-unthinkable precious metals-industry player - the pure cobalt company. According to Darton Commodities, the total global demand for Cobalt is projected to be north of 120,000 tonnes by the year 2020 as the industry enjoys exponential growth behind the advanced production of electric vehicles. Furthermore, cobalt continues to assert itself as an invaluable resource for lithium-ion batteries, as it is projected 75% of all lithium-ion batteries will contain cobalt by 2020. As demand for the metal rises, mining companies in the industry are focused on ramping up mining operations and making strategic moves to place themselves in competitive spaces in the market. Today's active miners with current developments in the market include: Bankers Cobalt Corp. (TSX-V:BANC) (OTC:NDENF), eCobalt Solutions Inc. (OTC:ECSIF) (TSX:ECS), Katanga Mining Limited (OTC:KATFF) (TSX:KAT), Cobalt Power Group Inc. (OTC:CBBWF) (TSX-V:CPO), US Cobalt Inc. (OTC:USCFF) (TSX-V:USCO).
Bankers Cobalt Corp. (TSXV:BANC.V) (OTCQB:NDENF ) BREAKING NEWS: Bankers Cobalt is pleased to announce the appointment of Grant Dempsey as President and Chief Operating Officer and discloses strategic relationship initiatives in the Democratic Republic of Congo (DRC). Stephen Barley will remain as Chairman and CEO. Grant Dempsey Highlights:
- Mechanical and Electrical Engineer with over 40 years of experience in all aspects of mining with 13 years' experience in the DRC
- One of the most respected senior mining executives in the DRC with strong relationships within the DRC mining community
- Up until this appointment, was the technical advisor to the Board of Directors of Gecamines, the DRC government owned mining company
- President of Boss Mining (located 3 kms from the Bankers' Kabolela project) and Frontier operations owned by Eurasian Resources Group from June 2015 to December 2016 where he was instrumental, through plant expansion, in increasing copper cathode production by 70% and reducing operating costs by 42%
- CEO of Shalina Resources' Chemaf project from April 2012 to August 2013 where he was responsible for implementing all required processes and certifying resources, satisfying due diligence requirements for the sale of the organization
- September 2010 to March 2012 was simultaneously, Managing Director of Metorex DRC, Ruashi Mining and Kinsenda owned by Metorex (Pty) Limited and created Ruashi Mining from exploration through to construction, financing and operations. Included was the construction and operation of a Flotation Plant, Acid Plant, Solvent Extraction and Leach Plant, producing both cobalt and copper
- Recipient of the Gold Medal of Merit from the government of the DRC for adding positive sustaining value to the country
Kevin Torudag, President of Bankers DRC states, "We are extremely pleased to have a person with Grant's background and integrity join Bankers. Grant understands every aspect of mining in the DRC from exploration through to operating and financing of projects. He has an extensive network of relationships at all levels in the mining sector and will be a driving force behind our strategic initiatives. The dynamics in the cobalt and copper space in the DRC are undergoing a rapid change. Land speculation is escalating, and with a limited supply of properties, this is an impetus for DRC processors to commence a dialogue with Bankers. Bankers has a secure and clean portfolio as well as a proven exploration team and these unique value drivers are attractive to the processors."
Grant Dempsey, President and COO states, "I am excited to join the Bankers team and assist with all aspects of the business in the DRC. Bankers has an attractive portfolio of 26 projects that would be very difficult to replicate and has built an efficient and effective operating team in Lubumbashi that has proven their ability to execute their business plan. Bankers is uniquely positioned to create value either as a stand alone or in conjunction with other parties who require quality properties and exploration expertise, both being in short supply in this country. This is a powerful combination of a superior land package, a strong operating team, and the relationships we have in the DRC mining community." Read this release in its entirety along with other Bankers Cobalt news and developments at: http://www.marketnewsupdates.com/news/banc.html
In other mining industry news and developments:
eCobalt Solutions Inc. (OTCQX:ECSIF) (TSX:ECS.TO) recently announced an update on progress made at its 100% owned Idaho Cobalt Project ("ICP") located near the town of Salmon , in the heart of the Idaho Cobalt Belt. The ICP remains the sole, near term primary cobalt deposit in the United States . "As we prepare for underground mine development, capital raised from our recent financing is being deployed on pre-construction activities as planned," stated Paul Farquharson , President & CEO of eCobalt. "Delivery of the water treatment plant components has commenced, and we have awarded contracts to construct the plant starting in May. This fulfills an integral part of our approved Plan of Operations, and our commitment to sustainable water management at the ICP for the long-term benefit of the region, the environment and the communities in which we operate." Read the full release here https://finance.yahoo.com/news/ecobalt-ramps-pre-construction-activities-110000029.html
Katanga Mining Limited (OTC:KATFF) (TSX:KAT.TO) recently announced Ventora Development Sasu ("Ventora"), a company affiliated with Dan Gertler , has today served in the Democratic Republic of the Congo ("DRC") a freezing order against Kamoto Copper Company ("KCC"), the Company's 75% operating subsidiary, in the amount of US$2.28 billion. Ventora alleges that KCC has breached an agreement between KCC, La Générale des Carrières et des Mines ("Gécamines") and Africa Horizons Investments Limited ("AHIL") (which Ventora claims AHIL assigned to it) pursuant to which Ventora alleges KCC is required to make royalty payments to Ventora, by indicating that it will not pay such royalties as a result of Mr. Gertler's designation as a Specially Designated National ("SDN"). Ventora asserts that if its claim for breach is upheld it will be entitled to damages of approximately US$2.28 billion , which it alleges is the value of the future royalties due to it under the agreement. The freezing order authorizes the bailiff of the Commercial Court of Kolwezi to freeze certain bank accounts, tangible movable assets, and intangible movable assets, such as receivables of KCC, as well as the mining titles, up to the amount of the freezing order and prevent KCC from disposing and/or utilising these assets.
Cobalt Power Group Inc. (OTC:CBBWF) (TSX-V:CPO.V) recently announced the acquisition of Western Cobalt Corp., ("Western Cobalt") a privately held mineral exploration company that holds nine strategically located mineral claims in the eastern Athabasca basin of Saskatchewan, Canada . The Western Cobalt properties comprise approximately 20,130 acres (8,146 hectares) of highly prospective geology. The claims are contiguous with UEX Corporation's ("UEX") West Bear Cobalt-Nickel Project ("West Bear Co-Ni"). UEX recently announced very high grade cobalt-nickel results over substantial widths on their West Bear Co-Ni project, including 2.0% Co and 1.26% Ni over 10.5m in drill hole WBC-001, and 0.73% Co and 0.36% Ni over 20.5m in drill hole WBC-005 (UEX news release of April 9, 2018).
US Cobalt Inc. (OTCQB:USCFF) (TSX-V:USCO.V) recently announced it has qualified to begin trading on the OTCQX® Best Market, operated by OTC Markets Group, under its existing ticker symbol "FTSSF". Trent Mell , President & Chief Executive Officer, commented: "We are very pleased to be moving to OTCQX, offering even greater transparency and potentially increased liquidity to U.S. investors through this platform. We believe this is an important step towards increasing awareness, visibility and potentially expanding our U.S. shareholder base as we continue to build a vertically integrated North American cobalt company.".
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