ONTARIO – First Cobalt Corp. has entered into an option agreement with Cobalt One, owner of the Yukon cobalt refinery in Cobalt. The goal is to create a 50-50 joint venture that includes the refinery and 16 hectares of nearby permitted property including a tailings management area.
The recently modernized interior of the Yukon cobalt refinery. Credit: First Cobalt.
The Yukon refinery is one of only four fully permitted plants in Canada capable of treating silver-cobalt arsenide ore such as that found in the Cobalt camp. First Cobalt hopes to process ore from the historic Keeley-Frontier mine at the refinery.
The refinery was built in the mid-1990s and changed owners in 2002. It was on care and maintenance until it was upgraded in 2012 and operated briefly. Cobalt One signed a binding agreement to buy the refinery in April 2017, a deal which is to close by the end of this month.
Visit www.FirstCobalt.com for more information about the Keeley-Frontier property.