https://www.miningweekly.com
PROJECT|Refinery|Resources|Equipment
PROJECT|Refinery|Resources|Equipment
project|refinery|resources|equipment

First Cobalt concludes offtake contract for 100% of production

30th March 2021

By: Creamer Media Reporter

     

Font size: - +

Canada’s First Cobalt has an offtake agreement with cobalt trader Stratton Metal Resources for the sale of future cobalt sulphate production from its refinery in Ontario, the TSX-V-listed company announced on Monday.

First Cobalt will have the option to sell up to 100% of its yearly production to Stratton Metals once its refinery is in production. Quantities will be determined by First Cobalt in advance of each calendar year and are subject to a minimum yearly quantity.

The ability to elect the yearly quantity sold to Stratton Metals would provide the company with time and flexibility to advance offtake and battery recycling discussions with potential original equipment manufacturer partners.

“Stratton Metals is among the most knowledgeable cobalt traders in the world, with a network of relationships in every major market,” said president and CEO Trent Mell.

“This sales arrangement is a key milestone for the company as firming up commercial arrangements supports the financing process for the refinery expansion,” he added.

The five-year offtake contract matches the expected term of a project debt facility currently being negotiated, as well as long-term arrangements for refinery feedstock. In January, First Cobalt concluded five-year cobalt hydroxide feed purchase arrangements with Glencore and IXM.

Refinery commissioning remains on schedule for October 2022.

Edited by Creamer Media Reporter

Comments

Showroom

Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 
Universal Storage Systems (SA)
Universal Storage Systems (SA)

South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.211 0.257s - 90pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: