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The Idaho Cobalt Project, located in east central Idaho, is a unique 100% owned primary cobalt deposit with production estimates of over 1,500 tonnes of high-purity cobalt metal per year.

The project received a positive National Instrument 43-101 compliant Bankable Feasibility study in July 2007, a final Environmental Impact Statement in June 2008, a Record of Decision from the U.S. Department of Agriculture Salmon Challis National Forest in January 2009, a Record of Decision from the U.S. Environmental Protection Agency in February 2009 and a Section 401 Certification from the Idaho Department of Environmental Quality in February 2009. All essential environmental mine permits are in place. Stage 1 Construction was completed in 2010 and Stage 2 Construction is now complete. The ICP minesite is fundamentally prepared to commence underground development (contingent on successful conclusion of mine financing).

Cobalt is an essential metal in today's society used in a wide variety of applications, including the production of "green" energy and environmentally conscious products such as hybrid electric vehicles. It is also considered a strategic commodity by the U.S. government. There is no current domestic primary production of cobalt - the U.S. must rely almost entirely on foreign sources for all of its supply. The cobalt project's output will be equivalent to 3.3% of the entire global cobalt supply and it will be able to feed 15% of the North American demand for cobalt.

The Idaho Cobalt Project will strengthen the local economies around Salmon and Challis by creating 157 high-paying jobs and an additional 39 jobs in northern Idaho. This represents an annual payroll of approximately $9.5 million dollars a year generating over $8 million dollars paid annually in taxes with a significant portion of that going to Lemhi & Shoshone Counties helping to support vital local services.

Jul 09, 2014

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