Under the terms of the contract, Glencore will supply COB up to 50% of KCR’s feedstock requirements for a period of three years, commencing from the start-up of commercial operations.
CEO Andrew Tong said: “We are thrilled to formalise a relationship with Glencore. Locking in at least 50% of KCR’s feedstock requirements is a significant step in derisking the project that brings us closer to FID.
Developing a commercial partnership with one of the world’s largest diversified miners helps solidify COB’s position as a participant in the global cobalt industry. This relationship will also enable COB to play a strategically important role in building new battery and critical minerals supply chains among like-minded countries.”
Please follow the link below to the ASX announcement for full details.