First Cobalt also owns the Iron Creek cobalt-copper project in Idaho, USA as well as several significant cobalt and silver properties in the Canadian Cobalt Camp.
#First cobalt free
The free element, produced by reductive smelting, is a hard, lustrous, silver metal. As with nickel, cobalt is found in the Earth's crust only in a chemically combined form, save for small deposits found in alloys of natural meteoric iron.
The company primarily explores for cobalt and silver deposits. Cobalt is a chemical element with the symbol Co and atomic number 27. Quantities will be determined by First Cobalt in advance of each calendar year and are subject to a minimum annual quantity.
In 2022, the company plans to commission North America’s only cobalt sulfate refinery, a critical asset in the development and manufacturing of batteries for electric vehicles. acquires and explores for resource properties in the United States and Canada. cobalt (Co), chemical element, ferromagnetic metal of Group 9 (VIIIb) of the periodic table, used especially for heat-resistant and magnetic alloys. Cobalt Blues: The Story of Leonard Grimmett, the Man Behind the First Cobalt-60 Unit in the United States: 9781461449232: Medicine & Health Science Books. First Cobalt will have the option to sell up to 100 of its annual cobalt sulfate production to Stratton Metals once its refinery is in production. The company said it intends to use the aggregate net proceeds of the note offering and the equity offering for capital expenditures associated with the expansion and recommissioning of the refinery, including buildings, equipment, infrastructure, and other direct costs, as well as engineering and project management costs.įirst Cobalt’s mission is to be the most sustainable producer of battery materials. ”Every director and officer is participating in the financing, underlining our confidence in our business strategy and strengthening our alignment with shareholders." “This is one of our most important catalysts for the year, as this financing will allow us to advance construction of our Canadian battery material refinery,” said President & CEO Trent Mell. and an overnight-marketed public offering of common shares in the capital of the company led by BMO Capital Markets for gross proceeds of approximately C$9.5 million (approximately US$7.5 million). Collectively, they have more than 200 years of experience in business leadership and operations. (Kitco News) - First Cobalt (TSX-V: FCC) today announced that it has arranged a combined secured convertible debt and brokered equity financing package with an aggregate value of approximately US$45 million to finance the construction of its wholly-owned hydrometallurgical refinery located in Ontario, Canada.Īccording to the company’s statement, the financing consists of an offering of US$37.5 million principal amount of 6.95% senior secured convertible notes due Decemled by Cantor Fitzgerald & Co. The Electra leadership group has previously managed teams of 300+ employees and bringing into production a new recycling facility primarily designed to handle spent cobalt-based lithium batteries. “Our joint-venture will pave the way for producers of various lithium-ion batteries and energy storage equipment in Ontario to reduce their waste, reuse high-value and increasingly scarce commodities like nickel and cobalt, and lower carbon emissions in their manufacturing activities.”Įlectra and the Three Fires Group will source and process lithium-ion battery waste generated by manufacturers of current and future battery cells, electric vehicles and energy storage systems, the company said.Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions.
Large deposits of cobalt-containing copper ore were first discovered in.
#First cobalt how to
“We are excited by the opportunity to work with the Three Fires Group and solve a pressing challenge of the EV battery supply chain, namely how to recycle and repurpose battery waste,” Electra CEO Trent Mell said in a statement. The Democratic Republic of the Congo (DRC) mined 69 of world cobalt in 2020. The venture would be underpinned by Electra’s proprietary black mass processing capabilities that recover high value elements, including lithium, nickel, cobalt and graphite. Electra Battery Materials Corporation (TSX-V:ELBM, NASDAQ:ELBM) has signed a memorandum of understanding with Three Fires Group to create a joint venture to recycle lithium-ion battery waste in Ontario.
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