The Importance of Cobalt in the Lithium Market

NEW YORK, April 11, 2017 /PRNewswire/ --

The mining industry is very diverse, and in recent years, technological advancements have raised demand for certain minerals, like lithium, which is now widely used in researchable batteries. Another mineral that has attracted attention lately is cobalt. According to a report by Transparency Market Research, the key applications of cobalt are in fields such as life sciences, binder materials, orthopedics, magnets, thermal spray coatings, water resistant alloys, super alloys, and reusable energy storage systems. Among all the application segments, reusable energy systems has the highest demand. Scientific Metals Corp. (OTCQB: SCTFF) (TSX-V: STM), Freeport-McMoRan Inc. (NYSE: FCX), Polymet Mining Corp. (NYSE: PLM), eCobalt Solutions, Inc. (OTCQB: ECSIF), Cobalt International Energy, Inc. (NYSE: CIE)

Lithium cobalt oxide (LCO) battery type are expected to constitute a large share of the overall lithium ion battery. A report by Markets and Markets indicates that the energy density of any LCO battery is very high, and the cost of manufacturing these batteries is fairly reasonable, owing to the use of graphite carbon and cobalt. The market for lithium nickel manganese cobalt battery type is expected to grow at the highest rate between 2016 and 2022. As for the overall lithium ion battery market, the research projects that the market will be valued at USD 68.97 Billion, by 2022, growing at a CAGR of 16.6% between 2016 and 2022.

Scientific Metals Corp. (OTCQB: SCTFF) (TSX-V: STM) on March 27^th announced that it has entered into an agreement with Earl Waite and Sons, Mining Contractors, to rehabilitate the adits and underground workings located on the Iron Creek cobalt project (the "Property") in Lemhi County, Idaho, USA. The Company plans to commence work when weather permits.

The Property is located 15 miles southeast of eCobalt's Idaho cobalt project in the most prolific trend of cobalt mineralization in the United States, the Idaho Cobalt Belt. The Property covers 1,800 acres in 90 lode mining claims. The central portion of the Property consists of 7 patented lode mining claims (private ground), covering 137 acres and the known historic estimates.

The Company plans to take full benefit of the advanced stage of exploration at Iron Creek as a result of significant work completed by previous workers, who include Noranda Exploration Inc., Cominco and Hanna Mining. All work will be conducted on the patented lode mining claims, which cover the previously identified historic estimates (see the Company's news release dated September 7, 2016). The Company's focus of working on the patented claims significantly accelerates the permitting process for exploration programs, and gaining access to the cobalt mineralization in existing workings is expected to allow the project to advance during 2017, to a point that would normally take several years.

Scientific Metals Corp. Senior Vice President, Exploration, Brian Kirwin commented, "The rehabilitation of the underground workings at the Iron Creek cobalt property is a significant step in STM's growth. Earl Waite and Sons have extensive mining experience in the Idaho Cobalt Belt and will be able to provide invaluable information with their local knowledge. Our interpretation of the historical data suggests that the underground workings expose significant cobalt mineralization, and should provide a detailed look at the mineralization identified by previous exploration programs. The combination of working on patented claims, and accessing the cobalt mineralization in existing underground workings, significantly accelerates the exploration and development of Iron Creek. Our goal is, by the end of 2017, to advance the project to a point that would, in normal circumstances, take several years."

Freeport-McMoRan Inc. (NYSE: FCX) announced earlier in 2016 that it has entered into a definitive agreement to sell its interests in TF Holdings Limited (TF Holdings) to China Molybdenum Co., Ltd. (CMOC), for $2.65 billion in cash and contingent consideration of up to $120 million, consisting of $60 million if the average copper price exceeds $3.50 per pound and $60 million if the average cobalt price exceeds $20 per pound, both during the 24-month period between 2018 and 2019. The company has also agreed to negotiate exclusively with CMOC to enter into definitive agreements to sell its interests in Freeport Cobalt, including the Kokkola Cobalt Refinery in Finland, for $100 million and the Kisanfu Exploration project in the Democratic Republic of Congo (DRC) for $50 million.

Polymet Mining Corp. (NYSE: PLM) announced this January that the U.S. Forest Service issued its Final Record of Decision authorizing the land exchange for PolyMet's NorthMet copper-nickel-precious metals project. The NorthMet deposit, located in the Partridge River Intrusion of the Duluth Complex, is a large, near-surface, disseminated deposit, containing copper, nickel, cobalt, platinum, palladium, gold and silver. "The Forest Service decision further validates both the Final Environmental Impact Statement and the comprehensive process supporting this Final Record of Decision. This is an incredibly important milestone for PolyMet as we consolidate the surface land and mineral ownership, in and around the NorthMet ore body and Erie Plant site," said Jon Cherry, president and CEO.

eCobalt Solutions, Inc. (OTCQB: ECSIF) is a company that provides an opportunity to consumers to acquire an ethically sourced, environmentally sound, transparent supply of battery grade cobalt salts, essential for the rapidly growing rechargeable battery and renewable energy sectors, produced safely and responsibly in the United States. Recently the company announced that it has closed its previously announced bought deal financing of 15 million Units and the related over-allotment option of 2.25 million Units, at a purchase price of C$1.00 per Unit, for aggregate gross proceeds in the amount of C$17.25 million. The Financing was completed by a syndicate of underwriters led by Canaccord Genuity Corp.

Cobalt International Energy, Inc. (NYSE: CIE) earlier in January announced that it has completed drilling operations on the North Platte #4 appraisal well. The preliminary results are encouraging and indicate that the well encountered approximately 650 feet of net oil pay, which is greater than the approximately 550 feet of net pay found in the North Platte #3 appraisal well. The North Platte #4 initial appraisal results also indicate high quality Inboard Lower Tertiary Wilcox reservoirs on the eastern flank of the North Platte field.

Please SIGN UP NOW at http://www.FinancialBuzz.com To Receive Alerts on Trending Financial News from all these companies. "The Latest Buzz in Financial News"

Subscribe Now! Watch us report from NYSE https://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com    

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the "Site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, FinancialBuzz.com has signed a three-month agreement and has been compensated twenty five thousand dollars for financial news dissemination and pr services by scientific metals corp. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use. Please visit: http://www.financialbuzz.com

For further information:
Media Contact:
info@financialbuzz.com ,
+1-877-601-1879

URL: http://www.FinancialBuzz.com

SOURCE FinancialBuzz.com