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First Cobalt receives key permit for its battery materials refinery in Canada

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(Kitco News) - First Cobalt (TSX-V: FCC) announced Thursday that it has received the second of three required permit amendments to recommission its hydrometallurgical refinery in Canada.

"Receipt of the Air & Noise Environmental Compliance Approval from the Ontario Ministry of the Environment, Conservation and Parks is yet another key milestone in the advancement of the company's North American battery materials strategy," the company said in a statement.

The third and final permit amendment has undergone community consultations, has been submitted to the Ministry for review and final approval is expected shortly, the company added.

The US$60 million facility expansion remains on schedule to be commissioned in Q4 2022. Once commissioned, First Cobalt expects its hydrometallurgical refinery to have peer leading ESG credentials, with the lowest Scope 1 and Scope 2 emissions in the industry, First Cobalt noted.

President and CEO Trent Mell commented, "With financing in place, receipt of this latest permit keeps us on schedule for Phase 1 of our North American Battery Materials Park strategy. By the end of 2022, we will be the only producer of battery-grade cobalt sulfate in North America."

First Cobalt owns a permitted North American hydrometallurgical refinery, a critical asset in the development and manufacturing of batteries for electric vehicles. First Cobalt also owns the Iron Creek cobalt-copper project in Idaho, USA as well as several significant cobalt and silver properties in the Canadian Cobalt Camp.

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