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VANCOUVER, B.C., Jan. 20, 2021 /PRNewswire/
Fuse Cobalt Inc. ( the Company or Fuse ) (TSXV: FUSE), (OTC: FUSEF), (FRA: 43W3) is pleased to announce that on December 22 2020, the government of Canada and the government of Ontarioannounced a joint $10-million investment in the First Cobalt Corp. refinery in Cobalt Ontario. Significantly, this refinery is located approximately 1500 m west of Fuse Cobalt s cobalt mineral exploration property and inside the historic silver-cobalt producing region of Ontario.
Furthermore, on Jan 12, 2021, First Cobalt also finalized a new supply arrangement with Glencore plc (LSE: GLEN) along with a tentative pact with a unit of China Molybdenum Ltd, in which First Cobalt will receive 4,500 tonnes of cobalt hydroxide per year from the Democratic Republic of the Congo for use in its northern Ontario refinery beginning in 2022. This supply contract is significant for the region because it will assist the refinery to become fully operational, and