Delecta to pur­chase Ne­vada cobalt mine

The Australian Mining Review - - NEWS: INTERNATIONAL - AMY BLOM US

DELECTA has en­tered into a bind­ing op­tion agree­ment to ac­quire a 100 per cent in­ter­est in the high- grade High­line cobalt- cop­per project in Ne­vada in the US.

The ac­qui­si­tion formed part of the ASX ju­nior’s diver­si­fi­ca­tion strat­egy aimed at cap­i­tal­is­ing on the de­mand for bat­tery min­er­als in­clud­ing cobalt, lithium and vana­dium.

Delecta man­ag­ing di­rec­tor Mal­colm Day said the com­pany con­tin­ued to seek and eval­u­ate other in­vest­ment op­por­tu­ni­ties in the bat­tery min­er­als space given its pre­vi­ous suc­cess with its in­vest­ment in Euro­pean Lithium.

“The in­creased de­mand for bat­tery min­er­als, like lithium and cobalt, is pri­mar­ily due to the rapid ad­vance­ment and de­mand for elec­tric ve­hi­cles,” Mr Day said.

“Given the High­line mine’s pre­vi­ous min­ing and ex­plo­ration was circa 100 years ago, the com­pany be­lieves that the High­line Cobalt- cop­per project rep­re­sents a rel­a­tively low risk op­por­tu­nity in an area of known min­er­al­i­sa­tion.”

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