Cobalt Blockchain, Traxys Europe agree joint venture in DRC

Cobalt Blockchain and Traxys Europe have signed a letter of intent to establish a commercial partnership at Traxys’ cobalt hydroxide plant in Lubumbashi in the Democratic Republic of the Congo (DRC).

The arrangement includes a 10-year joint venture agreement with respect to leasing and operating the plant, under which Canadian resource firm Cobalt Blockchain will invest as much as US$2 million to commission the plant toward its full production capacity, which is expected to take between four and six months. The plant has a design throughput of 50,000 tonnes per year of run-of-mine feed, with expected output of 3,150 tpy of cobalt hydroxide and 1,050 tpy of contained cobalt, assuming a minimum feed grade of 3% cobalt. Cobalt hydroxide...

Published

Andrea Hotter

August 08, 2018

20:15 GMT

New York