https://www.miningweekly.com
Refinery|Operations
Refinery|Operations
refinery|operations

First Cobalt refinery expansion study weeks from conclusion

18th March 2020

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

The feasibility study for an expansion of the Glencore-backed First Cobalt refinery, in Ontario, Canada, is in the final stages and will be concluded in the coming weeks.

Commenting on the current market developments, First Cobalt president and CEO Trent Mell said on Tuesday while the uncertainty owing to Covid-19 had put downward pressure on commodities, First Cobalt had implemented modified work practices that had minimal impact on its schedule.

First Cobalt plans to initially recommission the refinery in partnership with Glencore in the fourth quarter and then expand production as early as the second half of 2021.

A scoping study released in May last year determined that the refinery, which was shut in 2015, could produce at an expanded rate of more than 25 000 t/y of battery-grade cobalt sulphate for the electric vehicle (EV) industry.

The initial restart will only produce 2 000 t/y to 2 500 t/y.

“The EV revolution is a generational megatrend that will continue to change the way we move around, regardless of short term market fluctuations. Cobalt remains essential to an electric future and our partnership with Glencore will be a competitive advantage as we move towards first production,” said Mell.

First Cobalt also assured stakeholders that it was well-capitalised with sufficient cash-on-hand to execute its objectives. It has enough cash to cover its operations for the next 12 months and has additional dedicated funds to advance work at the refinery.

Edited by Creamer Media Reporter

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 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:0.785 0.829s - 109pq - 2rq
Subscribe Now