COBALT: First Cobalt powers up refinery

[caption id="attachment_1003731175" align="aligncenter" width="381"] A team is in place of the refinery to assess the readiness for a potential restart. (Image: First Cobalt Corp.)[/caption] ONTARIO – Toronto-based First Cobalt Corp. has turned the power on at its refinery in the town of Cobalt. A team of engineers and technicians will conduct a field program in support of the definitive feasibility study underway by Ausenco Engineering Canada. A dozen people have been sent to identify equipment that needs upgrading or replacement prior to recommissioning. The work will also allow for more confidence in estimating a capital cost of expansion. First Cobalt released a scoping study earlier this year that concluded the refinery can be recommissioned at its current 12 t/d rate next year, and then in 2021 throughput could be increased to 55 t/d. Up to 5,000 t/y of cobalt sulphate could be made and sold to the electric vehicle market. Glencore AG has provided a $5-million loan to complete the DFS. Another $40 million has been promised if the study is positive. Learn more about the refinery at www.FirstCobalt.com.