In a revealing interview at PDAC 2024, InvestorNews host Tracy Weslosky engaged with Russell Fryer, CEO and Executive Director of Critical Metals PLC (LSE: CRTM), shedding light on the company’s strategic operations in the Democratic Republic of Congo (DRC) and its forward-looking goals. Fryer discussed the evolving political climate in the DRC, highlighting the peaceful presidential election in December 2023 as evidence of the country’s commitment to democracy and the rule of law, which is crucial for investors considering Congo-based companies. He underscored the significance of the DRC in the global supply of cobalt, essential for green energy, and the high-grade copper reserves, vital as other regions face diminishing supplies.

Critical Metals PLC is set to resume production and generate profits in 2024, distinguishing itself with a poly-metallic deposit that yields copper and potentially cobalt. The company’s proactive measures, including road rehabilitation and an off-take agreement with OM Metal & Resources, are poised to enable sales in the first half of the year. Fryer also revealed plans for further drilling and the development of a JORC report, enhancing shareholder value.

The company has made strategic acquisitions, including a controlling stake in Madini Occidental Limited, which holds an indirect 70% interest in the Molulu copper/cobalt project. This acquisition aligns with Critical Metals PLC’s strategy to target projects with low entry costs and near-term cash flow potential. The company’s commitment to operational efficiency and infrastructure upgrades, such as road improvements to facilitate ore delivery, alongside its notable collaboration with OM Metals, underscores its strategy for sustainable growth.

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About Critical Metals PLC

Critical Metals PLC has acquired a controlling 100% stake in Madini Occidental Limited, which holds an indirect 70% interest in the Molulu copper/cobalt project, a producing asset in the Katangan Copperbelt in the Democratic Republic of Congo.

The Company will continue to identify future assets that are in line with its stated acquisition objective of low CAPEX and OPEX brown-field projects with near-term production and cash-flow, whilst concentrating on minerals that have strategic importance to future economic growth thereby generating significant value for shareholders.

To learn more about Critical Metals PLC, click here

Disclaimer: Critical Metals PLC is an advertorial member of InvestorNews Inc.

This interview, which was produced by InvestorNews Inc., does not contain, nor does it purport to contain, a summary of all material information concerning FendX Technologies Inc. (the “Company”), including important disclosure and risk factors associated with the Company, its business and an investment in its securities. InvestorNews offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This interview and any transcriptions or reproductions thereof (collectively, this “presentation”) does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to subscribe for or purchase any securities in the Company. The information in this presentation is provided for informational purposes only and may be subject to updating, completion or revision, and except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any information herein. This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

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BMW (Bayerische Motoren Werke AG (OTC: BMWYY)), the prominent German automaker, is currently investigating a Moroccan cobalt supplier, Managem, following a report that raised serious concerns over labor and environmental violations at a cobalt mine in Morocco. The report, which surfaced in the German daily newspaper Sueddeutsche Zeitung, in collaboration with broadcasters NDR and WDR, alleged that the mining operations at Bou Azzer, southern Morocco, were releasing excessive arsenic levels into the environment. This revelation has significant implications given the critical role of cobalt in manufacturing electric car batteries, a market in which BMW is a key player.

The primary issue highlighted in the report is the alarming levels of arsenic detected in water samples from the vicinity of the mine. This finding is concerning, as arsenic, a naturally occurring element, is known for its toxic properties. Prolonged exposure can lead to severe health issues, including chronic poisoning, skin lesions, and cancer, as per the World Health Organization. Additionally, there were claims of Managem not adhering to international standards for worker protection and its actions against critical trade unions. These allegations contradict Managem’s stance, which asserts adherence to high environmental and labor standards.

Responding to these allegations, BMW has taken immediate steps to seek clarity and has initiated investigations. A spokesperson for BMW mentioned that they had contacted Managem, requesting additional information and emphasizing the need for corrective action if any misconduct was found. BMW’s approach underscores the increasing scrutiny by major corporations on their supply chains, especially concerning environmental and labor practices.

This situation is not isolated to BMW or Managem. The global cobalt supply chain has faced ongoing challenges. A large portion of the world’s cobalt reserves are in the Democratic Republic of Congo, where the mining sector has been plagued by issues of child labor and poor working conditions. In a bid to adhere to higher ethical standards, BMW has stopped sourcing cobalt from Congo and now relies on supplies from Morocco and Australia. The company has also planned audits at the Bou Azzer mine to assess social and environmental standards, which will guide their future decisions on the partnership.

Managem, a company majority-owned by the Moroccan monarchy and operating in several African countries, has refuted the allegations. It stated that an audit of its water supplies showed no irregularities and emphasized its commitment to the highest industry standards in terms of quality, safety, and environmental respect. The company also highlighted the absence of arsenic-related illnesses in the mine area, further backing its claims of compliance.

The automotive industry, particularly in the electric vehicle segment, is undergoing a significant transformation. Automakers like BMW are vying to secure supplies of critical minerals like cobalt while also ensuring that their supply chains adhere to stringent labor and environmental standards. This incident with Managem not only highlights the complexities involved in ethical sourcing but also the increasing pressure on multinational corporations to ensure responsible practices throughout their supply chains. As the demand for electric vehicles grows, so does the need for transparency and sustainability in the procurement of essential raw materials.

U.S. apprehensions about China’s advances in the Congo underline its pivotal role in the critical minerals’ domain.

The Democratic Republic of Congo (DRC) has long been recognized for its vast mineral wealth. But with this abundance comes complexity. Recently, the Critical Minerals Institute (CMI) Masterclass series provided a deep dive into this rich, multifaceted topic, led by two individuals with considerable firsthand experience in the DRC: Melissa ‘Mel’ Sanderson, a Director for American Rare Earths Limited (ASX: ARR | OTCQB: ARRNF), and Russell Fryer, CEO and Chairman of Critical Metals PLC (LSE: CRTM). Both Mel and Russell are members for the CMI Board, committed to education and B2B resources in the critical minerals sector.

Hosted by Tracy Weslosky, the Founder and Managing Director for the CMI, the discussion spanned topics from the geopolitical to the deeply personal, offering invaluable insights to potential investors and businesses eyeing the DRC.

Entering the Congo

Both Sanderson and Fryer have unique entry points into the DRC. Sanderson’s journey began with the U.S. diplomatic service in 2003, right after “Africa’s World War” ended. She joined Freeport-McMoRan Inc. (NYSE: FCX) in building one of the world’s largest copper-cobalt mines. Her combined diplomatic and business experiences make her insights particularly relevant.

Fryer, an engineer by profession, managed the metals and mining book for a hedge fund, leading him to be deeply involved with the DRC’s mining sector. He emphasized the importance of a strong on-ground presence to effectively operate in the region.

Navigating the Investment Landscape

When it comes to investing in the DRC, both experts stressed the significance of building robust government relations. Fryer emphasized the importance of forging connections at all levels of government. His hands-on approach, combined with regular liaison with international ambassadors, has served him well in navigating the intricacies of the region.

Sanderson highlighted the role of local culture and the importance of understanding key regulations like the Foreign Corrupt Practices Act. This understanding helps businesses operate ethically while also respecting local customs and norms.

The Unique Challenges of Doing Business in the Congo

The Congo presents a unique set of challenges for investors and businesses alike, the experts outlined how the terrain is fraught with hurdles from unreliable power, water quality, to workforce and transportation issues. Moreover, certain regions, such as Bondo, necessitate heightened security measures. Fryer underlines the urgency of addressing local community needs and creating a quick revenue stream for both operational success and local welfare.

Geopolitical Implications and the Congo

Weslosky delved into geopolitical investments in the DRC. With growing interest from the Middle East, China, and the U.S., the DRC is at the heart of intricate international dynamics. Fryer shared insights into the increasing influence of countries like Saudi Arabia, UAE, and Qatar in the DRC. Addressing these geopolitical complexities requires the Congolese government to skillfully navigate these multifaceted relationships.

Empowering the Locals

On the topic of developing local talent, both experts shared their belief in the potential of the Congolese people. Sanderson spoke about initiatives to bring talented Congolese to the US for training. Fryer highlighted the need for trust, understanding the culture, and providing real opportunities.

Closing Remarks

The Masterclass shed light on the myriad of opportunities and challenges the DRC presents. As businesses and investors continue to look towards this region, the insights shared by Sanderson and Fryer provide a valuable roadmap. As Weslosky rightly put it, it’s essential for those in the resource and investment sectors to familiarize themselves with the regions they invest in. The discussion underscored the importance of understanding, respect, and hands-on involvement when it comes to successful investment in the DRC.

For those interested in exploring further, the Critical Minerals Institute ot the CMI continues to offer invaluable resources and discussions in the critical minerals sector.

CMI Masterclass Key Points:

1. Congo’s Importance:

   • The U.S. government is concerned about China’s potential acquisitions in the Congo.
   • Highlights the region’s significance in the critical minerals sector.

2. Investment Advice:

   • Foster strong relationships at all levels of the Congolese government.
   • Understand and respect the local culture and language.
   • Comply with international regulations, especially the Foreign Corrupt Practices Act (FCPA).

3. Geopolitical Investments:

   • Growing interest from Middle Eastern countries (e.g., Saudi Arabia, UAE, and Qatar) in the Congo.
   • The U.S. is perceived to hold significant influence in the region.
   • The Congolese government needs to navigate geopolitical complexities wisely.

4. Business Environment in Congo:

   • Challenges include inconsistent power outside the Katanga province, water quality, transportation, and security.
   • Companies should anticipate delays and budget for higher costs due to unforeseen challenges.
   • Engage with local communities and prioritize security.

5. Building Relationships in the DRC:

   • Collaborate with educational institutions, notably the University of Lum Bashi.
   • Embassies can play a role in introducing businesses to relevant government officials.

6. African Free Continental Trade Agreement:

   • Provides numerous advantages, but may not directly influence political stability in Congo.
   • There’s a need to address power consistency, infrastructure, and local beneficiation of minerals on the continent.

7. Empowering Local Talent:

   • Emphasized importance of training and acknowledging Congolese talent.
   • Foster local leadership for successful integration with foreign businesses.

For more information on the Critical Minerals Institute or becoming a CMI Member, click here

The Democratic Republic of Congo (DRC), known for its vibrant history and rich cultural fabric, is increasingly coming under the limelight for its vast mineral wealth. A deeper look into its mineral assets sheds light on global geopolitics, economic tactics, and the progression of technology.

I am thrilled to announce that tomorrow at 11 AM EST, I will be moderating a panel discussion for the Critical Minerals Institute (CMI) themed “Critical Minerals in the Congo”. The CMI has been organizing a monthly masterclass for its members. If you’re interested, drop me an email, and I’ll be happy to offer you a complimentary pass. This gesture underscores our commitment to learning and growth. Special thanks to the Directorial Team for their unwavering dedication.

During this Masterclass, we are privileged to host two distinguished CMI Board Members, Melissa ‘Mel’ Sanderson and Russell Fryer, both with invaluable on-ground experience in the Congo. Mel has dedicated 16 years to fortifying relations in Congo on behalf of Freeport McMoRan. On the other hand, Russell heads Critical Metals PLC, an LSE-listed firm focusing on Congo’s burgeoning copper sector. For an in-depth analysis, do watch our recently released interview: “Russell Fryer on Critical Metals PLC’s Strategic Moves in the DRC and Global Expansion.”

DRC’s Mineral Wealth: Tracing its Roots

While preparing for this Masterclass, I delved into some historical backdrop.

In the early 20th century, the DRC’s incredible mineral affluence left European geologists in awe, leading them to describe it as a “geological scandal”. Today, the nation boasts an estimated mineral cache valued at an astonishing $24 trillion. The World Bank echoes this magnitude by spotlighting the country’s 80 million hectares of cultivable land, housing a diverse array of over 1,100 minerals and gemstones. Key amongst them are:

• Coltan (Columbite-tantalite): A unique tar-like mineral.
• Cobalt: Extracted from nickel and copper mining, it’s pivotal for myriad applications.
• Uranium: A potent element with energy and defense connotations.
• Copper: Reinforcing the DRC’s stature as Africa’s top copper producer.

These aren’t merely geological marvels. They are the linchpins for numerous global industries, spanning aerospace, defense, tech, electronics, and automotive.

The US’s Escalating Focus on African Minerals

The strategic gravity of these minerals has piqued the interest of global giants, particularly the US. A series of recent American endeavors underscore its intensified involvement with mineral-abundant African countries. Highlights include:

• Initiatives in Lusaka and Kinshasa to jumpstart local battery fabrication.
• Kimberly Harrington of the Bureau of Energy Resources underscoring the pivotal role of critical minerals in the impending clean energy wave.
• A significant US investment of $150 million in Mozambique’s graphite mining to augment graphite output and enrich the global supply network.
• The US-driven Minerals Security Partnership (MSP) propelling the agenda of infusing overseas investment and technical acumen into the mining facets of emerging economies.

Further solidifying the centrality of minerals in the automotive and energy pivot, the US Secretary of State, Antony Blinken, endorsed a pact with Congo and Zambia, bolstering their joint vision to shape an electric-vehicle supply chain.

DRC vs. China: The Germanium Powerplay

In a fascinating twist in the global mineral narrative, a novel facility in the DRC is set to challenge China’s germanium stronghold. Presently, China reigns supreme, manufacturing a staggering 60% of global germanium. But with the DRC’s latest venture, supported by the state-backed miner Gecamines’ affiliate STL, aspiring to claim 30% of worldwide production, the scales may soon tip.

Given germanium’s indispensable roles in fiber-optic connectivity, infrared optics, and space ventures, this move is monumental. The DRC’s ambition is clear: to emerge as a powerhouse not just in cobalt and copper, but also in the germanium sector.

Final Thoughts

The mineral narrative of the DRC is a captivating tale of tactics, global significance, and boundless potential. As our world forges ahead with tech innovations and sustainable shifts, the DRC’s mineral treasure is set to shimmer even brighter.

For those interested in joining our masterclass, drop a line at [email protected] for a complimentary pass.

Mark Your Calendars for a CMI Masterclass

The Critical Minerals Institute Masterclass is just around the corner, scheduled for Thursday, October 19th at 11 AM EST. Centering around the intriguing topic of Critical Minerals in the Congo, this event promises enlightening discussions. Don’t forget to register using the exclusive CMI member code CMC2 to avail your free entry (limited to 50). Featured speakers include CMI Board Members Melissa ‘Mel’ Sanderson and Russell Fryer. While Mel boasts a rich 16-year history in Congo relations through Freeport-McMoRan Inc. (NYSE: FCX), Russell is the dynamic leader of Critical Metals PLC (LSE: CRTM), a formidable name in Congo’s copper industry.

Fresh Off The Press: Dive deep into the CMI October edition of the Critical Minerals Institute Report, bearing the headline A slowing global economy continues to temper demand. Authored by the distinguished Matt Bohlsen, an Australian-based CMI Director, he’s a familiar name for many as the Senior Editor for InvestorNews.com and a distinguished voice on SeekingAlpha when it comes to critical minerals.

A Glance at InvestorNews.com’s Recent Critical Mineral Highlights:

• WATCH: Nano One’s Partnership with Sumitomo: Sustainable Cathode Materials for EV
• READ: Ara Partners Acquires Vacuumschmelze: Mission Critical in the Electric Vehicle Landscape
• WATCH: Russell Fryer on Critical Metals PLC’s Strategic Moves in the DRC and Global Expansion
• WATCH: Mark Billings on Auxico’s critical minerals project advancements in Bolivia and Colombia
• WATCH: Donald Swartz’s insights on ARR’s Halleck Creek Project unlocking America’s rare earth potential
• WATCH: Ian Fraser on Fathom Nickel’s Exploration Progress and the Critical Mineral Potential in Saskatchewan

A Quick Scan of Global Markets

Canadian futures are on a notable rise, drawing momentum from burgeoning copper prices. The U.S. market witnesses a cautious optimism, with futures making modest gains ahead of this week’s crucial corporate announcements and economic revelations. European shares are rallying, with mining stocks taking the lead, all thanks to growing enthusiasm over Chinese demand, although the looming Middle East tensions remain a concern. Over in Asia, Japan’s Nikkei grapples with a setback, predominantly influenced by the slump in chip-related stocks.

Corporate Chronicles

Chevron Corporation (NYSE: CVX) finds itself amidst a brewing storm. Initial peace agreements seem to crumble as unions at their Australian LNG setups gear up for renewed strikes. The pivot for this unrest? Chevron’s alleged retreat from prior commitments.

In a groundbreaking move, Ferrari NV embraces the future, rolling out cryptocurrency transactions for their luxury vehicles in the U.S. Europe is next on their radar. This initiative aligns with their ambitious goal of achieving carbon neutrality by the close of 2030.

Ford Motor Company (NYSE: F) encounters turbulence in its dealings with the United Auto Workers. In an anticipated move towards resolution, the union found itself presented with a deja vu, receiving an offer identical to one from two weeks earlier.

General Motors Co. (NYSE: GM) breathes a sigh of relief up north, as Canadian labor union Unifor members give a nod to a new contract. This positive stride contrasts with the simmering unrest led by hourly workers in the U.S.

Investor.Coffee Daily Updates are intended to hit a few business news highlights for the day.

For those who saw the Democratic Republic of the Congo (‘DRC’) President Etienne Tshikedi at the recent FT Africa Summit, you might have been struck by the curious mix of bellicosity and naiveté in both the substance and tone of his remarks. In his defense, Tshikedi, widely regarded as the illegitimate victor of the 2018 contested Presidential election, has trouble sounding credible in presenting a positive future for Congo, always “the land of great promise” where a prosperous tomorrow seems somehow illusive. However, he outdid himself when, close to the end of an interview with an FT reporter, Tshikedi declared that “investors shouldn’t wait until we are perfect to invest, they should invest to make us perfect.” Laying aside perfection, the key question is whether it is possible to build and operate a profitable modern mine in DRC. My answer? It isn’t easy but with the right people and procedures, it can be done.

A quick snapshot of modern DRC history: Independence from Belgium in 1960 quickly leads to the assassination of Congo’s controversial but popular PM Lumumba, the rise of infamous kleptocrat General Mobutu Sese Seku, over-thrown by Laurent “Muzee” Kabila and his Rwandan allies in 1997, Kabila’s assassination in 2001 unleashes “Africa’s WWII,” intervention by the international community leads to a power-sharing transition government in 2003 headed by Joseph Kabila, son of Muzee, elections in 2006 and 2011 enshrine Kablia’s Presidency, then in 2018 Tshikedi emerges as President (after negotiations with Kabila) from an election widely judged to have been won by opposition leader Martin Fayulu.

It wasn’t all doom and gloom though. Kinshasa’s lovely tree-shaded boulevards and highrises, its lively music and café scenes earned it the sobriquet “Paris of Africa,” the country was the breadbasket of Central Africa and beyond, American companies such as GM were producing cars for the bourgeoning African market and the US military had a base in the southwest where it was providing training to Congolese military.

Why the history lesson? To be successful in Congo it’s important to understand the pattern of exploitation and corruption which has run through the country for 60 years, shaping both experiences of Congolese and perceptions of foreigners.

It is equally important to realize Congolese know they have been great and that they aspire to be so again.

In my 20 year experience with Congo, first as Political Counselor/Deputy Chief of Mission/Charge d’affaires of the US Embassy and then as VP for Africa of a major US mining company which built one of the world’s largest copper-cobalt mines in Katanga, I’ve seen positive changes. Transportation and energy Infrastructure, key elements for the mining sector, have become more widely available and more reliable – although still spotty. DRC always has had an educated youthful workforce, and specifically in Katanga province, generational mining expertise. Violence remains a problem in parts of Eastern Congo with the same old militia and terrorist elements proving difficult to eradicate. On the other hand, given that Congo is the size of the US east of the Mississippi and from Maine to Florida, vast tracts of the nation are mostly peaceful  – and hold largely untapped resources.

So, with the mixed bag of elements, why mine in DRC?  The grades of materials ranging from copper to cobalt to coltan to gold continuously amaze – and elements in high demand to support global transformation such as lithium, graphite, rare earths and uranium are abundant. Particularly with the large deficit curves in virtually every critical material, DRC offers an abundance of possibilities for good return on investment.

One major pending rail project would further improve the ability of miners to export products and import materials from/to eastern Congo through Angola, opening a new and potentially faster channel. Likewise, a long-pending major energy project is again under discussion which could enhance the power grid through the eastern part of the country.

Speaking from experience, a company interested in doing business in DRC needs to understand the necessary investments up front, including ‘hard’ investments in energy and roads, and ‘soft’ investments in social programs and, most importantly, relationships. These relationships include with NGOs and Embassies to ensure that production isn’t complicated by poor monitoring of supply chains or allegations of human rights abuses. Above all, appropriate relationships with Congolese authorities and social leaders are key to avoiding the entanglements of corruption, a snare ever ready to trap the unwary. Knowledge of and adherence to laws such as the Foreign Corrupt Practices Act and similar laws in the EU and UK is key.

Bottom line? Doing business in DRC isn’t easy, but can be done profitably and well. Politically, there is more continuity than may be evident or understood. There is more social unity than suggested sometimes by Congo’s 252 tribal languages and “swahiliphone/lingalaphone” debates. There is dogged determination to overcome obstacles.

With the right people working in the right way, everyone can win.

“As we all know it is a difficult mining market out there. There are many companies whose values are not reflected in their share price. You can either sit around and whine about it or you can do something about it. My board told me to do something about it. We bought non-core assets, packaged them, went to Australia, met with anybody who would meet with us and was able to sell these assets to create a profit for CBLT back in Canada. In essence we did a hard $1 million dollar financing without any fees on top.” States Peter Clausi, President, CEO and Director of CBLT Inc. (TSXV: CBLT), in an interview with InvestorIntel Corp. CEO Tracy Weslosky.

Tracy Weslosky: How does it feel to be a junior that is actually making money? Can you tell your shareholders and investors out there a little bit about what you are doing right now?

Peter Clausi: Sure. As we all know it is a difficult mining market out there. There are many companies whose values are not reflected in their share price. You can either sit around and whine about it or you can do something about it. My board told me to do something about it. We bought non-core assets, packaged them, went to Australia, met with anybody who would meet with us and was able to sell these assets to create a profit for CBLT back in Canada. In essence we did a hard $1 million dollar financing without any fees on top.

Tracy Weslosky: While you were in Australia we had a couple of investors in town last week they are telling me that Australia is experiencing a gold rush and they are redirecting their attention towards the resource sector. Is this correct? Is this consistent with your own conclusions having just gotten back from Australia? 

Peter Clausi: Australia does not have the same kind of risk capital market that Canada or the United States has. They do not have a cannabis market. They do not have a crypto market. The risk capital has stayed in junior high-tech, junior mining, junior oil and gas. It has not fragmented so there is more capital available. Yes, there have been a couple of recent discoveries in the gold sector that have juiced the market generally. Plus the rebirth of rare earths and lithium, we will call it 2.5 because we are not quite at lithium 3.0 yet, has also helped to excite the market. George and his buddies at Northern have done a real good job of bringing that project to market. They were a big hit when they were traveling in New York and it has helped to re-excite the rare earths market.   

Tracy Weslosky: Peter I have to tell you, I do not know if you have seen how Neo’s stock has moved. There is a lot of interest in electric cars as you know. We do not have the cobalt that we need. I do not understand why people are not lined up around the block to have your conflict-free mineral source of cobalt here in Canada. What is going on there? What is the disconnect between the cobalt demand, as we know there is a real shortage, and the interest in CBLT for instance?

Peter Clausi: There are a lot of reasons for it. It is a market that still lacks credibility. There is a group in Australia that reports in “cobalt equivalent” by taking a little bit of copper and a little bit of gold and a little bit of silver and doing some magic and increasing their cobalt number. Things like that hurt all of us. I wish they would stop doing it. The other problem we have is, cobalt is a bizarre metal. It is only found in a few places around the globe in mineable quantities. 60% of it comes from the Congo so anything that happens in the Congo affects cobalt globally…to access the complete interview, click here

Disclaimer: CBLT Inc. is an advertorial member of InvestorIntel Corp.

July 4, 2018 – “Today minerals are traced in the Congo. You have got tin, tantalum, tungsten, cobalt, which are considered conflict metals. The early incumbent system is all paper-based log books. We think that blockchain is a significant way to improve mineral provenance and certify where it has come from, how it is produced and essentially it is a distributed ledger and it is really facilitating and automating trust between counterparties in the supply chain. We are the intermediary between artisanal miners and our offtake partner.” states Lance Hooper, President & COO and Director of Cobalt Blockchain Inc. (TSXV: COBC), in an interview with InvestorIntel Corp. CEO Tracy Weslosky.

Tracy Weslosky: Lance I think you are basically going to be the first ethical supplier of DRC cobalt. Is that correct? 

Lance Hooper: Yeah, that is our plan Tracy in the next quarter. We have put a number of the building blocks in place; initial supply agreement. Right now we are building out depot infrastructure and implementing the mineral traceability system that we have developed in the last 3 months. 

Tracy Weslosky: InvestorIntel audience, here is what we have. We have cobalt, which is in demand around the world and, of course, we have technology with blockchain. Can you explain to us a little bit more about how you are utilizing blockchain technology to change the cobalt industry? 

Lance Hooper: Sure. Today minerals are traced in the Congo. You have got tin, tantalum, tungsten, cobalt, which are considered conflict metals. The early incumbent system is all paper-based log books. We think that blockchain is a significant way to improve mineral provenance and certify where it has come from, how it is produced and essentially it is a distributed ledger and it is really facilitating and automating trust between counterparties in the supply chain. We are the intermediary between artisanal miners and our offtake partner…to access the complete interview, click here

Disclaimer: Cobalt Blockchain Inc. is an advertorial member of InvestorIntel Corp.

March 14, 2018 — “There is a limited supply of cobalt. The supply chain out of the Congo is weak. There are not many other places in the world that produce it and as a result demand has been going up.” states Peter Clausi in an interview with InvestorIntel’s Andy Gaudry.

Andy Gaudry: Peter, why has cobalt gone up over 400% over the past 2 years?

Peter Clausi: Basic economics of supply and demand. Demand is increasing. Supply is falling and at risk in the supply chain.

Sixty per cent of the world’s cobalt comes out of the Congo. I do not know if there is anybody who suffered more on the planet than the Congolese. Since King Leopold showed up in the late 1800’s, that poor area of the world has had just the life beat out of it.

It is having the life beat out of it because there is so many minerals in the ground that that the imperialists are fighting for it. Right now, it is copper and cobalt.

There is a limited supply of cobalt. The supply chain out of the Congo is weak. There are not many other places in the world that produce it and as a result demand has been going up.

Demand is also increasing because cobalt is used in the cathode of lithium-ion batteries. You think we are going to sell fewer or more electric cars next year? The answer is more. Electric toothbrushes, power tools, laptops, anything that has a lithium-ion battery in it for rapid charge / discharge needs cobalt. There is more cobalt than lithium in your cell phone battery. The world needs cobalt. Basic laws of supply and demand have just pushed the price up. 

Andy Gaudry: Where is it going to go and where is it going to end? 

Peter Clausi: Cobalt is up almost 400%, as you say, since February of 2016. Our call is for roughly $50 by the end of the year. The wild card here is the supply chain. Amnesty International and The Enough Project are agitating for the imposition of an external ethical supply Chain. We have recently seen Apple indicate that they will only buy cobalt from ethical sources. If the formalization of an ethical supply chain takes place then there really is no cap on where cobalt will go. That ethical supply chain will knock so much of the cobalt out of the supply chain, prices will spike…to access the complete interview, click here