- New resource estimate underway in Idaho Cobalt Belt’s Iron Creek Project
- First Cobalt assessing need to restart and expand North America’s only currently permitted cobalt extraction refinery
- Scarcity concerns have fueled rise of cobalt’s price on London Metal Exchange from $22,000 per metric ton in 2016 to $90,000 now
The 19th century rush for easy gold led to Idaho’s establishment as a U.S. territory, but, in the modern era, the gem state is known for a variety of important natural resources that may not glitter as much as the yellow ore. Among those resources, diamond extraction led to the parallel establishment of the rich Idaho Cobalt Belt, a unique example of seal-floor hydrothermal brines that comprise a distinctive geochemistry (http://nnw.fm/EU58h), as well as a new alternative to Africa’s conflict-mineral production for the high-tech battery market. First Cobalt Corp. (TSX.V: FCC) (OTCQX: FTSSF) is preparing a new resource estimate on its promising property within the belt to replace the historic estimate (non-compliant with NI 43-101) of 1.3 million tons grading 0.59 percent cobalt (http://nnw.fm/cUwF5).
Cobalt is a critical low-heat element of the lithium-ion batteries that fuel smartphones, laptops and a burgeoning market in electrical vehicles sought as an environmentally friendly alternative to petroleum-driven cars. Reuters recently reported that…
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