Curiosity piqued about Agnico Eagle's, Vale's cobalt assets: Cobalt players looking to secure sources of supply in Ontario.


Some tire-kickers have been asking Agnico Eagle Mines about their cobalt deposits in northeastern Ontario.

In a Feb. 26 interview with Bloomberg News, CEO Sean Boyd said they've been approached by companies inquiring about their intentions for their extensive and dormant holdings in the legendary silver camp where Agnico Eagle got its start 60 years ago.

Based on that interest, the gold mining company is re-evaluating its former silver-producing property in the exploration-crazy Cobalt camp to determine its worth.

"We're open to talking about possibilities around that land package," Boyd told Bloomberg.

Cobalt was largely discarded by silver miners as a waste byproduct. Today, it's a much-sought-after mineral in the electric vehicle revolution.

Boyd said cobalt isn't a focus for Agnico, who added those properties haven't been in silver production since 1988. But the company is overseeing the environmental reclamation efforts in the Cobalt camp.

Boyd said they would entertain any offers involving cash and a royalty stream from a company that would take over those environmental obligations.

In Sudbury, Vale is apparently dangling a cobalt deal, according to Franco-Nevada chair Pierre Lassonde.

He confirmed to Bloomberg that the nickel miner is shopping around a streaming deal.

Vale produced 840 tonnes of...

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