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  1. #11
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    Default Cobalt price

    I enjoyed this little quote from the Australian:
    http://www.theaustralian.news.com.au...-18261,00.html

    'Keep an eye out for announcements that contain the world "cobalt".

    Cobalt is now being quoted @ US$47.50 per pound. http://cobalt.bhpbilliton.com

    I think the BHP management will be loving this!

    Cheers
    BP

  2. #12
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    Default low stocks

    http://www.telegraph.co.uk/money/mai...ncobalt111.xml

    partial quote:
    'Cobalt price soars as stockpiles run low
    By Iain Dey
    Last Updated: 1:37am GMT 11/01/2008
    '... It [cobalt] is widely used in the defence industry. The US Defense Logistics Agency has historically kept a large stockpile of the mineral to help secure the US military's needs.
    One London-based trader said the DLA held about 52m pounds of cobalt in 1993, but this has been whittled down to little more than 1.5m pounds. "The average rate of annual sales in those 14 years has been 1,650 tonnes per annum," the trader said.
    "At this rate of sales the DLA will have exhausted its cobalt stocks by June of this year."

  3. #13
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    Default

    Quote Originally Posted by tobo View Post
    http://www.telegraph.co.uk/money/mai...ncobalt111.xml

    partial quote:
    'Cobalt price soars as stockpiles run low
    By Iain Dey
    Last Updated: 1:37am GMT 11/01/2008
    '... It [cobalt] is widely used in the defence industry. The US Defense Logistics Agency has historically kept a large stockpile of the mineral to help secure the US military's needs.
    One London-based trader said the DLA held about 52m pounds of cobalt in 1993, but this has been whittled down to little more than 1.5m pounds. "The average rate of annual sales in those 14 years has been 1,650 tonnes per annum," the trader said.
    "At this rate of sales the DLA will have exhausted its cobalt stocks by June of this year."
    Hi Tobo,

    .. and the price has jumped again, with BHP now quoting US$48.25 per pound

    Time to see the BHCL IPO getting underway!

    Cheers
    BP

  4. #14
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    Default

    From: http://www.theaustralian.news.com.au...-18261,00.html

    Charge in cobalt

    THREE of the companies mentioned above - Albidon, Sally Malay and Minara - should also be on investors' minds because of their by-product: cobalt.

    Cobalt goes into batteries, and the multiplicity of gadgets that depend on batteries just keeps growing, as was shown at the Consumer Electronics Show in Las Vegas last week.

    Samsung launched an Armani mobile phone with which to accessorise that Italian gear you have hanging in the wardrobe. Or what about a lifestyle laptop shaped like a women's handbag, or a Ladybug iPod docking station for the tween and teen markets? Whirlpool unveiled a refrigerator complete with a multi-port docking station for charging iPods and laptops. Show-goers saw the new robot with which you can keep on eye on your valuables while away from home by directing the machine from your mobile.

    Cobalt, which has been on the Pure Speculation watchlist for some months, edged up another $US1 to $US46 a pound, higher than it's been since 1979.

    A report from London says BHP Billiton was digging in its toes on an asking price of $US47.50/lb when the market closed on Friday. The report also notes that the US Defense Logistics Agency has run down its cobalt stockpile from 52 million pounds in 1993 to 1.5 million pounds, meaning that stocks will be exhausted by June. The US depends almost entirely on imports for its cobalt.

    There are other companies to watch, too. Vulcan Resources is certainly one. It has just received its environmental permit to start mining its Kylylahti copper-cobalt deposit in Finland. The cobalt grade there is a high 0.24 per cent, and Vulcan expects first ore out of the ground by the second half of 2009.

    Last year Central West Gold hit a grade of 3.36 per cent near Grafton, NSW, and bits of rock pulled from the old copper mining waste dumps have produced assays of more than 10 per cent. The records from 1906 show that the copper operation reported high grades of cobalt then.

    Central West expects a drilling rig to turn up at the gate in the next week or two and at least eight more holes will be sunk as the company tries to understand just how extensive the mineralisation is. Cobalt is normally a by-product, but here it is the main target, with copper and gold as the by-products.

    end.

    Cheers
    BP

    PS: I believe the details of the BHCL IPO should be released in the next few weeks also..this will be one company that's primary focus is cobalt production!
    Last edited by BAPP; 14-01-2008 at 07:15 AM. Reason: PS:

  5. #15
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    Default Cobalt News

    Cobalt price soars as stockpiles run low
    Publisher: telegraph.co.uk

    The slew of gadgets and gizmos unveiled at this week's Consumer Electronics Show in Las Vegas could soon become much more expensive to run than anyone had previously imagined. The latest news from the oil, mining and gas industries- Cobalt, the key mineral used to make electric batteries, has soars to a new record high. Strong demand and scarce supply pushed prices in Europe to $46 a pound.

    BHP Billiton, the London-listed mining giant, was only willing to sell stock at $47.50 by close of trade, according to traders. The price has soared by about $5 in the past week and is 70 per cent above the levels seen a year ago. With stockpiles being run down, the price looks set to climb further.

    "There's no metal around, producers are sold out," said one European trader. Cobalt is a key component in manufacturing lithium-ion batteries, one of the most common types of rechargeable battery used in consumer electronics. Radioactive versions of cobalt are used in the treatment of cancer as a tracer that can monitor drugs passing through the body.

    It is widely used in the defence industry. The US Defense Logistics Agency has historically kept a large stockpile of the mineral to help secure the US military's needs. One London-based trader said the DLA held about 52m pounds of cobalt in 1993, but this has been whittled down to little more than 1.5m pounds.

    "The average rate of annual sales in those 14 years has been 1,650 tonnes per annum," the trader said. "At this rate of sales the DLA will have exhausted its cobalt stocks by June of this year."

  6. #16
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    Default Cobalt in the Congo?

    From: http://www.formcap.com/s/CobaltNews.asp

    Congo deals major blow to miners
    Publisher: MINING REPORTER
    Author: ANDY HOFFMAN

    Government reopens all contracts, saying it wants a bigger slice of profits

    Scores of mining companies hoping to tap the billions of dollars worth of mineral riches in the Democratic Republic of the Congo were dealt a major setback yesterday after the government indicated it wanted a bigger slice of their profits and said that all mining contracts would have to be renegotiated.

    Congo's vice-minister of mines Victor Kasongo said that a "brief and open" appeal process will be created to help "fast track" the renegotiations.

    In an address to a mining conference in South Africa, Mr. Kasongo said that when a government panel was formed last April to study the validity and fairness of 61 mining contracts, it expected it would have to rectify a few agreements.

    "We actually found that we had not a single contract that was properly constituted. What was meant to be a minor corrective has turned out to be multiple, major surgery," he said.

  7. #17
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    Default Cobalt price steadily increasing

    The price of cobalt looks likely to hit $50/pound fairly soon, with BHP now quoting $49.25.

    http://cobalt.bhpbilliton.com/

    Cheers
    BP

  8. #18
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    Default Cobalt price

    That was quick!

    Last sale by BHP @ US$50/pound.

    http://cobalt.bhpbilliton.com/

    Cheers
    BP

  9. #19
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    Default Cobalt sees another bull run

    Cobalt sees another bull run
    Publisher: Metal-Pages
    LONDON (Metal-Pages) 22-Feb-08. The cobalt market is seeing another bull run similar to the gains seen at the end of 2007, with traders saying they expect the market to go higher and that Russian grade material will also soon hit the $50/lb mark.

    The current screen price for Russian material shown by Norilsk Nickel however is $46.40/lb, and this price was published on the 20 February.

    Meanwhile BHP Billiton raised its screen offer price to $52.50/lb this week following a sale of 5 tonnes of material at $51/lb on 19 February. However, BHP Billiton has yet to find takers at the $52.50/lb level.

    A trader said: "The bull run continues, the price will soon go to $60-65/lb, in the next year consumption is is expected to reach 75,000 tons and there is a 30% growth in demand. Consumers are ringing me up at midnight." He quoted a price of $51-53/lb for high grade material and $48-50/lb for Russian material.

    Another trader agreed: "The market is very strong, it has come into its own, consumers are short and are desperate for material for March delivery, they are looking for ways to pause the bull run but they can't he said, adding that demand is particularly strong from Japan.

    He quoted $52/lb for Falconbridge material and $47/lb for Russian material. However a third trader said that while there is no question the market is firmer, the bull's views are to be taken with a pinch of salt. "We have had a lot of enquiries, but have not bookd a lot of high grade material, customers are reluctant to pay the higher prices and no one will pay $50/lb for Russian material. The higher numbers are partly due to market manipulation," he said.

    -END-

  10. #20
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    An Article that says Cobalt has hit its highs.

    http://www.mineweb.co.za/mineweb/vie...9546&sn=Detail

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