CEO Jacques Perron said the find affirmed the district-scale potential of the Brucejack project in British Columbia.

There is currently a solid global project pipeline, due to the rise in cobalt prices and the expected demand boom amidst battery manufacturing projects, Fitch writes.

Canadian researchers have found carbon residue corresponding to what once was once ancient life encased in a 2.5-billion-year-old ruby.

The company has said it will double its growth capex to about $3 billion a year from 2023.