First Cobalt Update on Recommissioning

First Cobalt Corp of Toronto, ON has given an update on recommissioning of its cobalt refinery located in Temiskaming Shores, ON. First Cobalt says that it is also assessing a longer-term strategy to produce nickel sulfate to attract a precursor manufacturer to a future “Battery Park” all within the existing refinery footprint. The company remains on schedule for commissioning of the refinery in the fourth quarter of 2022.

Trent Mell, First Cobalt’s CEO, said, “This is the first major battery-grade cobalt sulfate refinery to be built outside China in over 20 years, so this is not only an exciting project for us but also for the Western battery supply chain. Cobalt prices are up more than 20% over the past four weeks and we are witnessing stronger interest in off-take contracts as the battery supply chain shifts its focus from Europe to new investments in North America.”

Preliminary discussions have been held with government officials on the creation of a Battery Park on site, similar to the Harjavalta Industrial Park in Finland. To realize on this strategy, First Cobalt envisions refining coablt and nickel, in addition to recycling black mass from spent lithium-ion batteries.

Volume 35, Issue 13

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