Canada Cobalt makes deal with Re-2OX process

Canada Cobalt Works, developer of the Re-2OX process technology designed for efficient extraction of cobalt, precious metals and base metals in an environmentally friendly manner, has achieved its inaugural revenue stream thanks to a new deal with Global Energy Metals
Canada Cobalt makes deal with Re-2OX process Canada Cobalt makes deal with Re-2OX process Canada Cobalt makes deal with Re-2OX process Canada Cobalt makes deal with Re-2OX process Canada Cobalt makes deal with Re-2OX process

A cobalt vein documented by Canada Cobalt in 2018

The two companies have inked a non-binding memorandum of understanding (MoU) for the use of the hydrometallurgical process at two of Global Energy's projects, Lovelock and Treasure Box in the western US.

The partner is seeking to use the Re-2OX model to confirm efficient battery metal extraction with the ultimate goal of having a battery-grade product to test.

Canada Cobalt will supervise the programme, and noted that the relationship between them could broaden through this initial project.

"We have a shared objective of advancing the metallurgical understanding of GEMC's promising Nevada-based battery metal assets using Re-2OX," Canada Cobalt president and CEO Frank Basa said.

"The very adaptable Re-2OX process has shown very high recovery rates for multiple metals and the ability to create a compound suitable for end-use in battery production."

Global Energy Metals CEO Mitchell Smith noted that North America is import-reliant for its critical metals, making the Re-2OX technology a "crucial step" to unlocking the potential for its mines and the strategically vital US-based assets within.

"Significantly, Re-2OX has allowed Canada Cobalt to become the first company in Canada's cobalt heartland to produce a battery-grade cobalt sulphate test product with nickel-manganese-cobalt (NMC) formulations in their pipeline."

Alongside advisers Ron Molanar and SGS Lakefield, Canada Cobalt became the first Canadian cobalt group to produce battery-grade cobalt sulphate test product from its own feed source, the Castle operation.

"Much broader plans for Re-2OX are now beginning to roll out, applicable to the Castle mine and beyond, starting with the company's Re-2OX Unlocks model aimed at using the proprietary Re-2OX process to help ... companies unlock asset value through leading-edge metallurgical and metal recovery solutions offered by Re-2OX," the company noted.