Ecora’s Voisey’s Bay Cobalt Entitlement Rises 90% YoY in H1 as Underground Mine Ramp-Up Nears Completion

Published: Sep 03, 2026 10:05 (GMT+8)

Save

According to Ecora Royalties’ 2026 interim results released on September 2, the company received 266 tonnes of cobalt through its Voisey’s Bay cobalt stream in the first half of the year, up about 90% from 140 tonnes in the same period of 2025. Ecora said the ramp-up of underground mining operations at Voisey’s Bay is now substantially complete.

Driven by higher cobalt volumes and stronger prices, the project’s portfolio contribution after stream costs rose to US$13.5 million in the first half, up 230% year on year, while the average realized cobalt price increased to US$28.4/lb from US$16.5/lb a year earlier.

Meanwhile, Vale Base Metals is studying an expansion of the Voisey’s Bay concentrator’s processing capacity from around 2.8 million tonnes per year to 3.8 million tonnes per year. The related pre-feasibility study remains underway, with a final investment decision targeted around 2028. The project also plans both underground and surface drilling in 2026 to optimize the mine plan, support resource expansion and potentially extend mine life.

Ecora also said planned maintenance is scheduled at the Voisey’s Bay concentrator in the third quarter and at the Long Harbour refinery in the fourth quarter.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

8 hours ago

[Weekly Observation] Cobalt industry chain in the doldrums in first week after holiday; cobalt salt prices continue to grind lower; some enterprises remain in reduced or halted production

8 hours ago

9 hours ago

[SMM News] Sinomine’s Bikita to Lift Annual Spodumene Processing Capacity 50% to 3 million mt by Q2 2027

Sinomine’s Bikita Minerals in Zimbabwe plans to raise its annual spodumene processing capacity from about 2 million mt to 3 million mt by Q2 2027, a 50% increase. Sinomine has invested over $320 million in spodumene and petalite beneficiation at Bikita, and total investment is expected to reach about $900 million by the end of 2027. A lithium sulphate plant is scheduled for completion in July 2027. It will let Bikita process lithium concentrate into lithium sulphate, an intermediate product used to make battery materials. Bikita’s lithium-bearing mineral resources have grown from about 29 million mt to over 218 million mt since Sinomine’s acquisition, extending projected mine life by more than 15 years.

9 hours ago

[SMM Flash News] Savannah Resources close to second offtake deal for Portugal's Barroso lithium project

Savannah Resources is close to signing a second offtake agreement for its output from the Barroso lithium project in northern Portugal. A second offtake is a key step toward project financing, as lenders want 70%-75% of Barroso's future output contracted under long-term supply deals. The first offtake was signed in June 2024 for 45,000 mt/year of spodumene concentrate for five years, about 25% of planned output. Barroso hosts more than 39 million mt of spodumene resources, Europe's largest deposit of minerals. Further exploration could lift resources above 100 million mt and extend mine life beyond 50 years. Construction is on track for 2027 and production for 2028.

9 hours ago