Dig Media Launches Cobalt Investing News
CobaltInvestingNews.com launches with partners Formation Metals and Puget Ventures. November 10, 2010 Vancouver, British Columbia – Dig Media Inc. is pleased to announce the launch of Cobalt Investing News.com with Puget Ventures Inc. (CVE: PVS) and Formation Metals Inc. (TSE:FCO).
www.cobaltinvestingnews.com is the newest addition to Dig Media’s network of commodity-focused websites that make up the Resource Investing News Network. Dig Media’s sites educate investors about what is influencing the markets, while providing branding and connecting opportunities for exploration and mining companies.
“Demand for cobalt is growing and investors want to understand what forces are driving the market and what companies are involved. Our team of journalists and researchers will provide regular news and commentary to educate investors on trends and opportunities that exist in the growing cobalt industry. We are pleased to have two companies with potential sources of conflict free cobalt as partners in launching this site,” said Chris Smith, Publisher.
The use of cobalt for rechargeable batteries accounted for 25 percent of total cobalt demand in 2009 and that figure is expected to grow to as much as 45 percent by 2018. These types of batteries are widely used in computers, cell phones cordless tools, and hybrid electric vehicles (HEVs). Each battery in all current HEVs use approximately 3 to 5 pounds of cobalt, however lithium-cobalt-ion batteries containing 5 to 7 pounds of cobalt are expected to be the accepted industry standard for future HEVs. Global production of HEVs is forecast to reach 8 million units by 2015 largely driven by demand from Asian and other emerging markets.
Cobalt is widely used by electronics companies who are beginning to face serious pressure to monitor their supply chains to disclose the potential sourcing of conflict minerals from countries abroad. National governments, including the United States, are passing legislation aimed at stemming the flow of conflict minerals worldwide. The 2010 US Financial Reform law included a provision requiring thousands of US companies to disclose steps they are taking to track cobalt and other minerals used in their products. The measure is aimed at ensuring only socially responsible mineral sources are used in the production of their products, such as those derived from North American mineral producers.
“There is need for more independent, objective information regarding the supply and demand issues for strategic metals such cobalt,” said Rick Honsinger, Formation Metals Vice President of Corporate Communications. “We support Cobalt Investing News as an independent source of information helping to educate investors on cobalt as they have done with their various websites highlighting other mineral commodities.”
“Conflict free sources of cobalt, represent a significant opportunity with increasing use of cobalt in electronics and green technology,” says Erin Chutter, President of Puget Ventures. “Investors need a dedicated source of this information that is independent of all vested interests so they can get the information they need to make well informed investment decisions. We believe that Cobalt Investing News.com will be the go to source for news on this important resource.”
Cobalt Investing News.com will provide our investor audience insight on the macro economics influencing the cobalt markets as well as specific insight into public companies that are both exploring and producing.
About Dig Media Inc.
Dig Media’s Resource Investing News Network is made up of commodity specific sites designed to educate investors about what is influencing the markets as well as provide information on publicly traded exploration and producing companies through exclusive independent commentaries and other aggregated news and editorial from respected sources. Dig Media’s site, http://www.resourceinvestingnews.com, is the premier web portal for information on investing in resource companies. With the addition of http://www.cobaltinvestingnews.com, The Resource Investing News Network now has 28 sites covering a full range of commodities from gold to gas, coal to diamonds, and rare earths to lithium. For more information on Dig Media Inc., please contact Chris Smith, Publisher at (604) 688-8231 or visit www.digmediasolutions.com.
About Puget Ventures Inc.
Puget Ventures Inc. (TSX.V: PVS) is a Vancouver, Canada-based mineral-resource exploration company focused on the acquisition, exploration and development of strategic base metals properties, with a focus on cobalt. Puget Ventures’ package of properties encompasses historic deposits and past Cobalt and Nickel-Copper-PGE producers, including the historically proven Werner Lake Mineral Belt located in Northwestern Ontario, Canada.
Puget Ventures and Imperial Mining Holding Ltd. recently announced that they are to form a multinational cobalt exploration company with cobalt assets in Russia and Canada and other mineral assets in Mongolia. Concurrent with this all-stock-transaction, Puget Ventures intends to seek shareholder approval to change its name to Global Cobalt Corporation. For more Information please visit: http://www.pugetventures.com/
About Formation Metals Inc.
Formation Metals Inc. (TSX:FCO). is a well established mineral exploration, development and refining company led by a highly qualified technical team of geologists, permitting specialists, mining engineers and administrative personnel. Formation’s Idaho Cobalt Project, is a shovel ready, fully environmentally permitted primary cobalt deposit unique to the United States. The project is in mine finance stage and has completed Stage I Construction with initial cobalt, copper and gold metal production targeted for Q4-2011 / Q1-2012. Formation intends to mine, mill and refine high purity cobalt metal suitable for critical applications in the super alloy and rechargeable battery sectors.
Formation Metals, through its wholly owned subsidiaries, also has interests in other base, precious metal and uranium projects in Canada, the United States and Mexico. For more Information please visit: http://www.formationmetals.com