Securing outside feedstock is the key to a faster restart of a cobalt refinery in northeastern Ontario. First Cobalt announced Oct. 10 that it’s in discussions with “several parties” to obtain an outside supply of feedstock that could help finance the restart of its mill near the town of Cobalt.
The Toronto junior miner is evaluating all aspects of how soon to reopen the shuttered operation it purchased in 2017, and position it as a toll milling facility. How soon it reopens depends on the outcome of those talks with suppliers.
The company acquired the 22-year-old facility when it began assembling its sizeable land holdings of more than 11,700 hectares in the Cobalt camp, which includes 50 former silver mines containing cobalt material.
First Cobalt has not made a final decision, but the consultants who costed out the restart and operating estimates, examined the timelines for a permit review, and identified those feedstock opportunities, are giving all them positive encouragement, the company said in a news release.
“The First Cobalt Refinery is a strategic North American asset and potentially our quickest path to cash flow by producing cobalt materials for the North American market,” said First Cobalt president-CEO Trent Mell in a statement.
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