October 22

Province Embarks on Commercial Fisheries Strategy

first_img The Department of Fisheries and Aquaculture will work with industry organizations and the Aboriginal community to develop the strategy. “This is your strategy and we need you to be involved,” Mr. Colwell said to those gathered at the conference. “Its success will depend on you.” The department is aiming to have the strategy completed this year and implemented early in 2015. industry organization safety and training efficiency market development quality innovation Nova Scotia will develop a commercial fisheries strategy to ensure the fishing industry is sustainable, creates jobs and helps grow the economy. Fisheries and Aquaculture Minister Keith Colwell announced today Feb. 21, at the annual minister’s conference with fish harvesters in Debert that work is commencing on the strategy. “Quality and innovation is needed in the fishing industry to drive up exports and to grow the sector of the Nova Scotia economy,” said Mr. Colwell. “The Ivany Commission stressed the need for this in traditional Nova Scotia industries.’ The strategy consists of six pillars:last_img read more

September 24

Cobalt Stealing the headlines

first_imgRoskill reports sharp increases in the price of cobalt metal have driven considerable interest in the market. Metal Bulletin’s Cobalt High Grade Free Market price reached above $24/lb on February 24, up from US$17.5/lb a month previously.Many market commentators have pointed to the impact of speculative stockpiling from funds. The Financial Times reported last week that half a dozen funds have purchased and stored an estimated 6,ooo t of cobalt, worth as much as $280 million. As detailed in Roskill’s upcoming Cobalt Report, there has already been material taken out of the market in recent years. China State Reserve Bureau (SRB) has moved to purchase considerable quantities of cobalt since 2014.The cobalt market is prone to volatile prices, although the last few years have seen relative stability underpinned by oversupply despite strong demand. Significant price rises were seen over the 2003 to 2008 period, driven by undersupply, perceived fears over future supply shortages, and high levels of global economic growth underpinned by strong Chinese demand. In 2003 the price of high grade cobalt averaged just under $11/lb but grew to reach an average of over $38/lb by 2008. At the peak in March 2008, high-grade cobalt metal was sold at over $52/lb.As such, the recent price rises do not necessarily reflect the ‘new normal’ and the possibility of a correction is considerable. Importantly, concentrate supply is growing rapidly as DRC output expands and with chemical production able to meet demand the battery industry should be well supplied. Nonetheless, with strong overall demand set against a tight metal market, compounded by recent (albeit some temporary) shutdowns, Roskill anticipates higher average prices over the coming years than those seen in recent years.Roskill’s Cobalt: Global Industry, Markets & Outlook report will be published in Q2 2017.last_img read more