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First Cobalt announces metal recovery from used batteries

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(Kitco News) - First Cobalt (TSX-V: FCC; OTCQX: FTSSF) said Thursday it successfully extracted nickel, cobalt, copper, manganese, lithium and graphite from a "black mass" product recovered from recycled batteries.

Extraction was done at the company's pilot plant in Ontario.

The company describes black mass as the main chemical composition of the battery. It is obtained after the removal of the mechanical housing of the battery.

"Demonstrating our ability to recycle lithium-ion batteries is an important step in our journey to be the most sustainable producer of battery materials," said President & CEO Trent Mell." There are many producers of black mass in the western world, but few environmentally friendly options to then refine the product into battery-grade material given the capital expenditure required and the permitting timeline associated with building a hydrometallurgical facility such as ours. We intend to capitalize on this first-mover advantage and leverage our position as an ultra-low carbon operation."

The company said that work is underway to scale up the plant.

First Cobalt owns North America's only permitted cobalt refinery in Ontario, Canada, the Iron Creek cobalt project in Idaho, USA and controls significant silver and cobalt assets in the Canadian Cobalt Camp, including more than 50 past-producing mines.

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