First Cobalt, Glencore eye long-term feed purchase deal instead of tolling agreement

First Cobalt Corp and Glencore have agreed to discuss a long-term feed purchase contract instead of the tolling arrangement originally contemplated.

The Canada-headquartered company, which is working to recommission and expand a currently idled cobalt refinery in Canada, said it had decided to be a market purchaser of feedstock, rather than a toll refiner.
The change in approach towards feed purchase contracts results in greater exposure to the cobalt market and potentially a greater share of the project economics, according to First Cobalt president and chief executive officer Trent Mell.

The companies had previously agreed that First Cobalt would treat cobalt feed material supplied from Glencore's operations...

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