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LONDON - Vale Base Metals has successfully completed its cobalt throughput test at the Voisey’s Bay mine, achieving an average throughput rate of 93.7% over a 90-day period, according to a press release statement issued Thursday.
Ecora Resources PLC (LSE/TSX:ECOR, OTCQX: ECRAF), which holds a 70% net interest in a cobalt stream over the Voisey’s Bay mine, is entitled to receive 22.82% of all cobalt production from the site until 7.6 kilotonnes of finished cobalt have been delivered. After reaching this threshold, Ecora’s entitlement will decrease to 11.41%.
The Voisey’s Bay mine is located in Newfoundland and Labrador, Canada, and is considered a significant source of cobalt, a critical mineral used in battery manufacturing for electric vehicles.
Cobalt is among several minerals, including copper and nickel, that are essential for the energy transition and electrification trends. These materials are key components in batteries, electric vehicles, and electricity grid infrastructure.
Vale Base Metals, a subsidiary of Brazilian mining giant Vale, operates the Voisey’s Bay mine. The company did not provide specific details about production volumes or timelines for future operations in the announcement.
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