First Cobalt Corp has finalized long-term cobalt hydroxide feed deals with Glencore and trading company IXM, a subsidiary of mining company CMOC, as part of a plan by the Canada-based company to recommission and expand a currently idle cobalt refinery in the country.
The agreements will see Glencore and IXM provide a total of 4,500 tonnes per year of contained cobalt to the First Cobalt refinery, starting in 2022. The material will be sourced from Glencore's Kamoto Copper Co mine and CMOC's Tenke Fungurume mine, both in the Democratic Republic of Congo.According to First Cobalt president and...