First Cobalt in 2nd phase of refinery restart, expansion finance talks

First Cobalt is entering the second phase of financing discussions for the recommission and expansion of its currently idled cobalt refinery in Canada, with proposals under review with its financial advisor, Canadian Imperial Bank of Commerce (CIBC).

The Canada-headquartered company is contemplating an initial recommissioning of the cobalt refinery in partnership with miner and marketer Glencore before expanding production as soon as the second half of 2021. 

“We have received several third-party financing proposals, and we will now seek to narrow the field in order to commence three-way discussions with our strategic partner,” company president and chief...

Published

Andrea Hotter

July 22, 2020

19:56 GMT

New York