The company has agreed to buy a share of cobalt production from Vale’s Voisey’s Bay mine in Canada, giving the mining royalty and streaming company exposure to the key battery metal for the first time.
The Australian miner says its project, on the Nevada-Oregon border, has overtaken Lithium America’s Thacker pass by contained lithium in mineral resource.
Car companies are making inroads into the mining industry to lock in supplies of much-needed materials, putting them in direct competition with large, deal-hungry metals producers.