The recommissioning of the First Cobalt refinery in Ontario edged forward this week, with the conclusion of a term sheet between TSX-V-listed company and global miner Glencore, detailing the framework for a fully funded, phased restart of the refinery.
The term sheet follows on a memorandum of understanding entered into between the companies in May this year and outlines a phased approach that could see the refinery operational in less than a year and expanded to 55 t/d in 2021.