First Cobalt Corp. (TSX.V: FCC) (OTCQX: FTSSF) on Safer Ground at Iron Creek Project as Risks of Toxic Supplies from Congo Increase

November 9, 2018 10:25:12
  • Radioactivity detected in cobalt supplies from Democratic Republic of the Congo
  • Cobalt demand set to rise as EV production continues upward trajectory
  • First Cobalt’s Idaho Iron Creek Project reports encouraging estimates

The decision by First Cobalt Corp. (TSX.V: FCC) (OTCQX: FTSSF) (ASX: FCC) to shed its cobalt assets in the Democratic Republic of the Congo and focus on North America is looking increasing prescient. Cobalt operations in the Congo, already tainted by reports of human rights violations, have become even more toxic after traces of radioactivity were detected in claims being mined by Anglo-Swiss miner Glencore (OTC: GLNCY). Apparently, the level of uranium ( present in the cobalt hydroxide produced by Glencore subsidiary Katanga Mining exceeds “the acceptable limit allowed for export of the product through main African ports to customers.”

As a result, Katanga announced that it had halted “cobalt exports from its Kamoto Project in Democratic Republic of Congo, while it builds a facility to remove uranium.” In Idaho, at its Iron Creek Project, First Cobalt is on safer ground. Instead of uranium, the cobalt being explored there is more likely…

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