First Cobalt (OTCQX: FTSSF) expands its strategic plan to supply battery quality nickel and cobalt, recycled battery products and pioneer products, with the goal of creating the first facility dedicated to battery products for electric vehicles in North America.
First Cobalt plans to change its name to Electro Battery Materials.
The company says it will expand its licensed hydrometallurgical refinery north of Toronto to produce 5K tonnes of cobalt starting in Q4 2022.
The company has also tested black mass feeds of recycled batteries and will announce the results of test and engineering studies in the coming weeks.
“Our automaker customers are keenly interested in greater localization of the upstream supply chain to achieve greater reliability, longer delivery safety and a lower environmental footprint,” said Chairman and CEO Trent Mell.
In August, First Cobalt organized a $ 45 million fundraiser for the construction of a hydrometallurgical treatment plant.