Field Exploration "ENORA"

SME AG currently has the mining search permit for commercial Purpose of the exploration field "ENORA" for the following mineral resources obtained: chromium, gold, cobalt, copper, nickel, silver, vanadium. The search of the SME AG focuses on cobalt, nickel and chromium.

The field exploration "ENORA" (Erzgebirgsnordrand), extends over the counties Mittelsachsen, Zwickau and the city of Chemnitz and covers an area of ​​600 km². After a successful search, SME AG will apply for a Provide authorization for the extraction of mineral resources.

Cobalt has traditionally been used to harden steel, but its electrical ability has made the metal an essential part of rechargeable Batteries. This leads to a race for reserves in the primary deposits which are mostly located in the Democratic Republic of the Congo.

because of the electric car boom Bloomberg New Energy Finance estimates that the cobalt Demand by 2030 will be by 47 times.

the metal has become more expensive since January 1, 2017 on London Metal Exchange up 292% to $ 94,250.00 / t.

Cobalt Historical Prices Graph

Nickel is mainly used in the production of stainless steels and nickel alloys. The most important deposits are in Canada, Russia, New Caledonia, Australia and Cuba. Nickel price history from 01/01/2017 (10,200 US $ / t) to 22/03/2018 (13,040 US $ / t) = + 28%

Nickel Historical Prices Graph

Chromium and chromium compounds are used for a wide variety of applications in which its durability is used. The most important deposits are located in South Africa, Kazakhstan, India, Zimbabwe and Finland.

The current chrome price is $ 2,812.00 / t Chrome Price development from 01.03.2017 (€ 2,699 US $ / t) to 22.03.2018 (€ 2,812 US $ / t) = + 5%

Chrome Historical Prices Graph