Recently, First Cobalt Corp said Glencore and China Molybdenum subsidiary IXM SA had agreed to supply cobalt to the company's Ontario refinery.
The raw materials will come from Glencore's KKC mine and CMOC's Tenke Fungurume mine. Both mines are in the Democratic Republic of the Congo.
First Cobalt has reached a long-term agreement with Glencore and IXM for the supply of cobalt hydroxide raw materials, and Glencore and IXM will supply a total of 4500 tons of cobalt to the first Cobalt Refinery from 2022. The supply agreement accounts for 90% of the Canadian refinery's 5000 tons / year capacity and will produce 22250 tons / year of battery-grade cobalt sulfate.