The Fredericktown City Council heard an update from Missouri Cobalt executives Monday night. CEO Stacy Hastie and Vice President John Diehl spoke about the projected timeline and hopes for the cobalt mine.
“I think the best thing to tell you is, this is a real deal,” Hastie said. “We did not spend the millions to buy this property and remediate it to let it set there idle. We are here to mine.”
Diehl said he knows people have tried to tackle this in the past, but he feels Missouri Cobalt has the right team to get it done, and he believes the global cobalt market will help as well.
“We are excited about this opportunity that we have come across the past couple months to take ownership of the mine,” Diehl said. “We look forward to working with the city and local stakeholders to make this a reality.”
Hastie said strategic steps have to be taken in order to begin mining, and those steps can take some time. “We have some environmental impact issues we need to address, which we are doing now,” Hastie said. “We are working closely with the EPA and the DNR in that regard, and I have to say that they are very cooperative.”