Vale in deal with Pala-backed Cobalt 27, Wheaton to sell cobalt: Reuters
Brazil’s Vale this week unveiled a US$690 million financing to expand a Canadian nickel mine, agreeing to sell unmined cobalt from Voisey’s Bay as a booming electric vehicle market propels demand for the critical battery ingredient, Reuters reported. Vale said it would sell cobalt mined after 2021 as a by-product from the mine in the northern Labrador region to Wheaton Precious Metals Corp and Cobalt 27 Capital Corp in a so-called stream financing deal. Cobalt 27, a Toronto-based battery metals streaming and royalty company, is backed by Swiss mining private equity firm Pala Investments.
12 June 2018•2 mins read
