Archive | Cobalt Town

Battery metal miners trying to tap electric car boom want Elon Musk to stop killing their buzz – by Gabriel Friedman (Financial Post – September 26, 2020)

https://financialpost.com/

As investor anticipation mounted for Tesla Inc.’s much-hyped, self-proclaimed Battery Day on Wednesday, Trent Mell was upset just thinking about it.

Mell, chief executive of Toronto-based First Cobalt Corp., has spent three years trying to secure a ground floor seat in the burgeoning electric vehicle industry.

In 2017, his company bought a long-forgotten refinery in small-town northern Ontario that could, if everything goes right, produce five per cent of the world’s battery grade cobalt, about 25,000 tons, by 2021. It would be the first, and only, refinery in North America producing battery-grade cobalt. Continue Reading →

Cobalt will not be taken out of batteries anytime soon – First Cobalt – by Mariaan Webb (MiningWeekly.com – September 23, 2020)

https://www.miningweekly.com/

Canada’s First Cobalt, which owns North America’s only permitted cobalt refinery, is confident that cobalt will continue to play an essential role in batteries, despite Tesla CEO Elon Musk predicting a future with no graphite and no cobalt.

Responding to Musk’s comments at the Tesla Battery Day on Tuesday, First Cobalt president and CEO Trent Mell said that cobalt would not be taken out of batteries anytime soon.

“Despite years of trying to remove cobalt from batteries, it has proven to be a formidable challenge, owing to its importance in keeping batteries safe and extending the life of cells,” he said. Continue Reading →

Timmins-James Bay MP Charlie Angus announces new book about Cobalt: the town and the metal – by Lydia Chubak (CTV Northern Ontario – September 13, 2020)

https://northernontario.ctvnews.ca/

TIMMINS — He’s a member of parliament, a musician and an author. Timmins-James Bay MP (NDP) Charlie Angus has written a new book–his eighth–and this time, it’s focussed on the town of Cobalt which he calls ‘the cradle of Canada’s mining industry.’

It’s not out yet, but he said he’s already signed a deal with a national publisher.

“We’re going to see this town play I think and an important role. (Cobalt) is a mineral that should not be the blood mineral and a mineral of such toxic environmental damage but a mineral that could actually lead us to a better and cleaner digital future,” said Angus. Continue Reading →

[MINING HISTORY] Elihu James Davis: He Built the Road to Eldorado – by Leslie Roberts (MACLEAN’S Magazine – November 15, 1930)

https://archive.macleans.ca/

An intimate sketch of the man [ Elihu James Davis] whose courage and faith created the T. and N. O., “the discovery railroad which opened Northern Ontario’s treasure chest”

THIS is the story of a man who proved by his foresight and his deeds that politicians do get things done, their traducers to the contrary. What is more, it proves that the smiling goddess, sometimes called Lady Luck, is cast in important roles in the fashioning of any young country, bestowing her favors on those who have the courage to set up new milestones of empire, no matter how the scoffers oppose.

As is the case with all pioneering achievement, it is a story of the faith that moves mountains, of dreams and vision and belief. It is the story of Elihu James Davis, the tanner of Newmarket, whose determination and courage brought into being the Temiskaming and Northern Ontario Railway, hoping thereby to create a new agricultural empire, only to find that Dame Fortune had flung wide the portals to a Canadian Eldorado.

Not even Davis, in the days when the T. and N. O’s. right-of-way was still a figment of fancy, could dream of the riches that were to come. Here was to be a prosperous new farming region, with New Liskeard its market town. Colonists, hearing of the wealth of the soil, would come to join those who were opening up the country. Continue Reading →

‘Come for a day, discovery a century’: Cobalt’s slogan still rings true – by Lydia Chubak (CTV Northern Ontario – August 21, 2020)

https://northernontario.ctvnews.ca/

TIMMINS — Historical remnants of Cobalt’s rich mining history continue to stand tall, and are none the worse for wear.

A hundred years ago, many prospectors came into being by chance in the north. Some of the first ones in Cobalt were building rail lines who caught glimpses of silver gleaming in lake rocks. Then they kept moving north, in search of gold.

Timmins Museum curator Karen Bachmann said many of them were engineers or mining men who understood the bush. Continue Reading →

First Cobalt decides to go big on refinery restart – by Staff (Northern Ontario Business – July 23, 2020)

https://www.northernontariobusiness.com/

Toll processing facility would be first of its kind in North America

A major expansion is definitely in the cards to restart a mothballed refinery in northeastern Ontario that’s gearing up to serve the electric vehicle market.

Toronto’s First Cobalt is skipping a staged approach to reopening the plant, situated outside the town of Cobalt, and is opting instead on focusing their construction efforts on quadrupling production capacity.

The plant is currently configured to process 12 tonnes of cobalt sulphate a day. Expansion would boost that to 55 tonnes and would represent five per cent of the world’s cobalt refining capacity. Continue Reading →

[Cobalt Silver Mining] Ghostly tales from Ontario’s past make great summer reading – by Miriam King (Orillia Matters – May 30, 2020)

https://www.orilliamatters.com/

Exploring the fascinating landscape and history of Cobalt, Ontario; It’s a fun read, perfect for a summer night

Ontario is filled with ‘ghost towns’ – towns that experienced an economic boom, grew swiftly to encompass the lives and dreams of their residents, and then experienced a decline.

Many were mining towns, abandoned when mines closed or deposits ran out. Some, like Dalton Mills and Creighton, were abandoned. Only ruins stand where there was once a thriving community.

Others still exist but as a mere shadow of their former glory, like the town of Cobalt. Located about halfway between North Bay and Timmins near Lake Temiskaming, once the “silver capital” of Canada, the town had a population of over 12,000 during the boom years. Continue Reading →

As EV battery metal makers crash and burn, First Cobalt aims to open new refinery – by Gabriel Friedman (Financial Post – May 5, 2020)

https://business.financialpost.com/

The project would open a new chapter in the quest to build out an electric vehicle supply chain in North America

On Monday, Trent Mell, chief executive of First Cobalt Corp., travelled to his office in downtown Toronto for the first time in weeks to tell the world he hopes to open North America’s first cobalt sulfate refinery — a key metal used in the batteries that power electric vehicles — by the end of the year.

The opening, years in the making, arrives at an awkward moment as social distancing policies keep people out of their cars, and the economic fallout from COVID-19 creates great uncertainty about the demand for electric vehicles, or EVs.

“There’s obviously the immediate pause” on EV adoption, Mell told the Financial Post on Monday. Continue Reading →

Cobalt 27 faces investor outcry amid accusations it’s selling ‘crown jewel’ assets at a loss – by Gabriel Friedman (Financial Post – September 7, 2019)

https://business.financialpost.com/

Proposed buyout has some shareholders feeling like the company bought high and sold low as it tries to steer investors from cobalt to nickel

Toronto-based Cobalt 27 Capital Corp., which billed itself as an investment in the electric vehicle revolution, is facing outcries from some of its largest shareholders as it tries to sell its most valuable assets during a market low-point.

The company roared into the market in mid-2017 with an initial public offering, ultimately raising hundreds of millions of dollars to stockpile and acquire royalties on cobalt, an essential metal used in lithium-ion batteries. Within about a year the price of cobalt had hit a five-year peak, only to crash in the latter half of 2018 and never fully recover.

Now the company wants to steer its investors into nickel and to sell its main cobalt assets to its largest shareholder, Pala Investments. Other shareholders would receive $3.57 in cash, plus equity in Nickel 28, a new company that would hold the remaining assets including a stake in a nickel mine in Papua New Guinea. Continue Reading →

Glencore to support First Cobalt’s refinery in Ontario – by Trish Saywell (Northern Miner – June 25, 2019)

Northern Miner

First Cobalt (TSXV: FCC; US-OTC: FTSSF) has taken a major step toward becoming the only producer of refined cobalt in North America.

The company, which plans to restart its hydrometallurgical cobalt refinery near Cobalt, Ont., has signed an agreement with Glencore (LON: GLEN) that will see the metals giant supply the junior’s refinery with cobalt feedstock.

Under a memorandum of understanding, Glencore will also provide a loan to cover the estimated cost of re-commissioning the refinery, and collaborate on its final flow-sheet design. Continue Reading →

North America’s first cobalt refinery inches closer to production — but obstacles remain – by James Snell (Financial Post – April 11, 2019)

https://business.financialpost.com/

CEO Trent Mell remains optimistic about the refinery’s prospects

First Cobalt Corp., the $50-million company, is inching closer to becoming the first producer of battery-grade cobalt to feed the nascent North American electric vehicle market, but there are still plenty of roadblocks in its way.

The Toronto-based company achieved a breakthrough when it announced earlier this month that it successfully produced battery-grade cobalt sulfate using its refinery’s own processes, or flowsheet, — but the problem is, it was done in a lab using a small sample.

CEO Trent Mell, who is currently in Shanghai meeting with investors at the Fastmarkets MB Battery Materials Conference, remains optimistic about the refinery, which is in the midst of a $30-million refurbishment. Continue Reading →

THE DRIFT: The King of Cobalt: Gino Chitaroni is the go-to pathfinder in the Cobalt exploration camp – by Ian Ross (Northern Ontario Business – March 14, 2019)

https://www.northernontariobusiness.com/

Like generations of his family before him, Gino Chitaroni is a jack-of-all-trades. He’s a prospector, developer, business owner, tourist camp operator, and staunch advocate for the mineral exploration industry.

The third-generation resident of Cobalt (population 1,100) comes from a proud and tough stock of miners, mechanics, contractors and equipment suppliers on both sides of his family dating back to the Silver Rush days of the early 1900s.

During the 2016-2017 cobalt-staking rush in northeastern Ontario, Chitaroni became the to-go guy for industry and media types who trekked up Highway 11 and stopped at in PolyMet Labs to talk to the colourful and outspoken president of what was happening on the ground. Continue Reading →

Abandoned Canadian silver mines could boom again as battery demand prompts gold rush in cobalt – by Peter Armstrong (CBC News Business – November 15, 2018)

https://www.cbc.ca/news/business/

Cobalt, Ont., could could be sitting on a gold mine — of cobalt — to help power electric cars, phones

The flooded bottom of an abandoned silver mine is an unlikely source of hope. But down there in the flickering light, a once worthless metal known as cobalt has sat idle for decades. Now it’s one of the most sought after metals in the world and that has many in this town in northern Ontario dreaming of boom times once again.

A century ago, prospectors came to Cobalt, Ont., in search of silver. They found it, and the town boomed. Amid all the silver, miners also found cobalt. So much that they named the town after it. Back then though, it was a mere indicator, a sign that something of actual value was nearby.

Now, all that ignored and discarded cobalt is the town’s best hope. “The potential here is huge,” says Frank Basa, chief executive officer of Canada Cobalt Works. Cobalt the metal has had a spectacular run over the past few years. And now Cobalt the town is poised to cash in. Continue Reading →

Cobalt refinery edges closer to restart: First Cobalt puts out the mill feed call to North American, international suppliers – by Ian Ross (Northern Ontario Business – October 11, 2018)

https://www.northernontariobusiness.com/

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. Continue Reading →

Cobalt mining conference taking shape – by Ian Ross (Northern Ontario Business – August 10, 2018)

https://www.northernontariobusiness.com/

Land rehabilitation, mining legacy and cobalt exploration are featured topics at September event

There’s definitely a dual meaning that applies to the inaugural Green Mining Conference being held in the Town of Cobalt this September.

For decades, the northeastern Ontario community of 1,100 endured the environmental legacy issues left behind by the town’s famed Silver Rush at the turn of the last century; something Agnico Eagle Mines has spent considerable time and money on to clean up old mine workings.

At the same time, Cobalt is back on the world stage as an exploration hotspot for its namesake metal that’s powering the expanding electric vehicle battery market. Continue Reading →