US gives Electra $20 million to build cobalt plant
The funds will support construction of a cobalt sulfate facility in Ontario that will be North America’s only refinery.
South Africa’s Gold Fields (JSE, NYSE: GFI) grabbed headlines with its recent acquisition of Canada’s Osisko Mining (TSX: OSK) in a deal valued at C$2.16 billion ($1.6 billion).
The move expanded Gold Field’s asset portfolio in the Americas, where it already has mines in Chile and Peru, and made it the sole owner of one of Canada’s most promising gold projects – Windfall in Quebec, which it had been developing in a 50/50 joint venture with Osisko.
“Its a world class project in a great jurisdiction with a huge land package…we were looking for a pathway to consolidate 100% of this asset,” CEO Mike Fraser said in an interview with MINING.com.
Factoring in the gold price, which reached an all-time high last Friday, Fraser said its easy to get caught up in the hype.
Fraser said that one of the present challenges in the gold sector is that junior developers are not seeing real value of the gold price reflected in their equities.
“We feel there has been a disconnect between equity prices and the gold price,” Fraser said.
Watch the full interview with MINING.com’s Devan Murugan:
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