![]() ![]() The year was capped off with the announcements of $10 million in funding from the Government of Canada and the Government of Ontario towards the refinery construction. The impact of producing cobalt sulfate at First Cobalt's Canadian refinery rather than the existing supply chain is the equivalent of taking more than 9,000 combustion engines off the road every year. for a benchmark refinery in Tongxiang, China. In October, we published the results of a third-party Life Cycle Assessment, which concluded that our facility would have a carbon footprint generated through the production of one kilogram of cobalt sulfate of 1.58 kg CO2 eq. In August 2020, we joined the Cobalt Institute and made a commitment to the highest standards of responsible sourcing by agreeing to follow The Cobalt Industry Responsible Assessment Framework (CIRAF) and commit to certifying the First Cobalt Refinery under the Responsible Minerals Initiative (RMI). In tandem with these measures, we took deliberate steps to deliver on a mission of producing the world's most sustainable cobalt. With these results in hand, we began building our technical team to execute on the project alongside Ausenco Engineering. In September, optimization studies lowered the operating cost of the facility to a level competitive with global peers and estimated the capital cost of the expansion and commissioning at US$60 million. This second successful test program illustrated the ability to treat different feedstocks using the flowsheet of the Company's permitted hydrometallurgical facility in Ontario, Canada.įirst Cobalt published an engineering study in May that estimated annual production of 5,000 tonnes of battery grade cobalt from third-party feed, representing 5% of the total global refined cobalt market - and 100% of North American cobalt sulfate supply. In March, the Company produced a battery-grade cobalt sulfate assaying 21.4% cobalt, surpassing the reference grade for sulfate pricing, with a 99.9% product purity. The 2020 fiscal year was a turning point in the history of First Cobalt, as the focus shifted from mineral exploration to near-term cash flow from our permitted Canadian refinery. The Company closed 2020 making significant progress against its vision to produce the most sustainable battery materials and entered 2021 poised for growth and execution. (TSX-V: FCC OTCQX: FTSSF) (the 'Company') reported its financial results for the year ended December 31, 2020. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |