First Cobalt strengthens its clean energy credentials as it joins the Critical Materials Institute

First Cobalt Corp (CVE:FCC) (OTCMKTS:FTSSF) has strengthened its commitment to a clean energy future, having joined the Critical Materials Institute (CMI) as a full team member.

In a statement on Thursday, the mining group pointed out that the CMI, launched in 2013, supported research on expanding the domestic supply of critical minerals.

READ: Red Cloud Securities increases price target on First Cobalt to C$0.35 after successful C$2.5 million financing

Three years ago, the US government added cobalt to its list of ‘critical minerals’ and devised a plan to specifically address supply chain issues as the US is heavily reliant on foreign sources of cobalt for military and industrial applications, including electric vehicles (EVs) and aerospace. There are currently no producing cobalt mines in the US.

“We are honored to be one of the few resource-development companies to have been accepted to the CMI and the only such company focused on producing cobalt in North America,” said Trent Mell, First Cobalt’s president and CEO.

“This membership greatly improves our network of companies and research facilities that share our dedication to a clean energy future. The CMI provides access to cutting edge technologies and brilliant people who are improving metal extraction processes to make them more energy-efficient, less costly, and reduce the impact to the natural environment.

First Cobalt owns a permitted cobalt refinery in Canada as well as a cobalt-copper deposit called Iron Creek in the US, which lies in the firm’s Idaho property.

It is partnered with researchers at the Colorado School of Mines on a proposal to fund a two-year project on improving the extraction of cobalt from Iron Creek.

The aim is to modify conventional methods of extraction to reduce the amount of waste and to increase the concentration of cobalt to be refined.

“The project is well-aligned with First Cobalt’s commitment to provide a green and ethical supply of cobalt to the North American electric vehicle market,” it added.

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