Chilean Cobalt plans to build cobalt compounds plant
Chilean Cobalt Corp, called C3, plans to build, between 2027 and 2028, a new plant to produce cobalt compounds in Chile.
C3 is a critical materials exploration and development company focused on the development of the La Cobaltera project, located in Chile’s historic San Juan cobalt district.
In order to meet growing and anticipated demand for cobalt compounds, particularly in the electric vehicle space, the company is planning major capital projects, including a new plant to be built between 2027 and 2028 with the goal of producing approximately 2.4 kMT by the end of 2029 and in subsequent years throughout the life of the mine.
However, C3 noted that these planned projects are complex undertakings, and there can be no assurance that it can complete these projects within their projected budget and schedule or that it can achieve the anticipated benefits from them.
For example, unforeseen technical or construction difficulties could increase the cost of these planned projects, delay the projects or make them unfeasible.
Any significant delays in the completion of planned projects or increases in costs could have an adverse effect on the Company’s business, financial condition and results of operations.
C3’s mission is to be an innovative and leading company that strives to be the most responsible provider of critical mineral resources for the development of advanced materials and cleaner energy technologies that address the most pressing environmental and developmental issues.
Given the transformative shift from internal combustion engines to electric vehicles (EVs), there has been an increase in demand for cobalt, a critical battery material in lithium-ion batteries used by EVs, along with copper as well.
Baltum Mineria SpA (Baltum), a wholly owned subsidiary of Chilean Cobalt, has acquired 2,635 hectares of fully mineable mining concessions in the Atacama region of northern Chile in the San Juan district.
The company continues to seek opportunities to further consolidate mining rights in the district.
The San Juan mining district, which includes the La Cobaltera area, has been identified by CORFO, the Chilean government agency responsible for the country’s economic development, as likely containing Chile’s highest quality cobalt assets.
Chile is already the world’s leading copper producing country and the La Cobaltera area historically supports the existence of consolidated, high quality copper assets.