Issue link: http://resourceworld.uberflip.com/i/119004
Mg cut-off grade, the project contains NI 43-101 compliant measured and indicated resources totalling 39.8 million tonnes, averaging 23.1% Mg for 9.16 million tonnes magnesium contained. At a 78% recovery rate, the company estimates a potential output level of 7.14 million tonnes Mg. COBALT – Co Offering a striking-blue tone, cobalt-based pigments are used in ceramics, paint, jewellery and glass. Other major uses include cobalt's application as a super alloy in the manufacturing process of jet engines and gas turbines, adding temperature stability. Lithium cobalt oxide is also used in lithium-ion battery cathodes. Africo Resources Ltd. [ARL-TSX] is developing the Kalukundi copper-cobalt project in the Kolwezi district of Katanga province in southeast Democratic Republic of Congo (DRC). Effective 2006, NI 43-101 compliant proven and probable resources stand at 7.8 million tonnes, grading 2.37% copper (Cu) and 0.69% cobalt (Co) for just over 186,000 tonnes copper and just below APRIL 2013 54,000 tonnes cobalt. On November 26, 2012, the company announced additional drill results from its latest exploratory campaign. Highlights include bore hole KLKD020, which intersected an average of 2.47% Cu and 0.24% Co from 176.66283.6 metres, and bore hole KLKD023, which intersected an average of 3.02% Cu and 0.46% Co from 67-161.84 metres. On December 31, the company announced that its majority shareholder, Camrose Resources Ltd., which owns 63.7% of Africo's issued and outstanding shares, was wholly purchased by Eurasian Natural Resources Corp. Fortune Minerals Ltd. [FT-TSX] is developing the NICO gold-cobalt-bismuthcopper project, located 160 km northwest of Yellowknife, in the Northwest Territories. The project contains open pit and underground proven and probable mineral reserves of 33 million tonnes for 1.08 million ounces gold, 82 million lbs Co, 102 million lbs bismuth, and 27 million lbs copper. For cobalt, an averaged output of 69.5 million lbs is expected over a 20-year life of mine. On January 28, the company announced that the Mackenzie Valley Review Board, the Northwest Territories' primary environmental assessment (EA) oversight body, had concluded its EA and recommended approval of the project's mine and mill. Formation Metals Inc. [FCO-TSX; FMETF-OTCQX; FOQ-FSE] has entered the preliminary construction phase of its Idaho cobalt project, preparing the property for underground development. The project is located near Salmon, Idaho. Initial production is expected to begin between nine and 14 months from the start of underground development. Once fully on stream, the project will comprise an 800-ton per day mine and mill complex that will throughput around 280,000 tons of cobalt-copper-gold bearing ore per year. The material will be processed at the Big Creek Hydrometallurgical Complex, also located in Idaho. Annual output has been estimated at 3.3 million lbs Co, 3 million lbs Cu, and 4,000-5,000 oz Au. Current reserves and resources are expected to last 10-12 years. Geovic Mining Corp. [GMC-TSX; www.resourceworld.com 21