Sources say ballistic surge in cobalt prices makes underground mine project more likely
A ballistic surge in the price of cobalt could mean positive things for Labrador’s Voisey’s Bay mine, but if executives at Vale are excited, they certainly aren’t saying.
Reuters is reporting that the Brazilian mining giant, which owns the Voisey’s Bay mine and processing facility at Long Harbour, Placentia Bay, is looking to cash in on cobalt.
The international news agency is reporting that Vale is looking to sell unmined cobalt, worth hundreds of millions of dollars, to investors and that could be a positive sign as the company decides whether to proceed with an underground mine at Voisey’s Bay. Continue Reading →