Government of Canada & Province of Ontario invest $10M to establish cobalt refinery in N. Ontario; battery-grade cobalt sulfate
The Government of Canada and the Government of Ontario are each investing $5 million in First Cobalt Corporation to accelerate domestic production of battery-grade cobalt sulfate, a required element needed to produce long-range electric vehicles (EVs).
Provided through FedNor’s Regional Economic Growth through Innovation (REGI) program and Ontario’s Northern Ontario Heritage Fund Corporation (NOHFC), this strategic investment will enable First Cobalt Corporation to recommission and expand its hydrometallurgical cobalt refinery in North Cobalt, located 500 kilometers North of Toronto.
Once complete, the facility will be the first and only facility of its kind in North America, capable of producing 25,000 tonnes of battery-grade cobalt sulfate annually, which represents five percent of the global market for refined cobalt.
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A North Cobalt company has received a multi-million dollar shot in the arm.
The Federal and Provincial governments have announced that “each (are) investing $5 million in the First Cobalt Corporation to accelerate domestic production of battery-grade cobalt sulfate, a required element needed to produce long-range electric vehicles (EVs).”
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A news release states “provided through FedNor’s Regional Economic Growth through Innovation program and Ontario’s Northern Ontario Heritage Fund Corporation this strategic investment will enable First Cobalt Corporation to recommission and expand its hydrometallurgical cobalt refinery in North Cobalt, located 500 kilometres North of Toronto. Once complete, the facility will be the first and only facility of its kind in North America, capable of producing 25,000 tonne
Canada and Province of Ontario invest $10 Million to establish North America s first cobalt refinery miragenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miragenews.com Daily Mail and Mail on Sunday newspapers.