Cobalt 27 buys royalty in Waterton co-owned Dumont project
Cobalt 27 Capital Corp (TSX-V: KBLT) has acquired a 1.75 percent net smelter return royalty on all future nickel and cobalt production from the Dumont project in Québec. The deal is valued at US$70 million. The Dumont project is jointly owned by RNC Minerals Corp and Waterton Global Resource Management, a Canadian mining private equity firm. Production, which will turn out materials used in electric vehicle and grid storage batteries, is expected to begin in 2020. Cobalt 27, a Toronto cobalt investor backed by Swiss mining private equity firm Pala Investments, said it is negotiating additional cobalt streaming and royalty deals.
22 February 2018•6 mins read
