* Deposit is
* Cobalt in demand for electric vehicle market
* Scramble on for cobalt sources outside of DRC
By Ed Stoddard
Cobalt is a key component in rechargeable lithium-ionbatteries used in the surging electric car market but most of itcomes from the
"We have found cobalt in
Celsius will declare its maiden resource - the initialestimate of how much is economically extractable - around theend of March on the deposit, which is in the remote northwest of
Rio Tinto drilled in the area around 100 km (60miles) south of the
The deposit is in a remote region but is close to decentinfrastructure - which
"We are looking at late 2020 for first production," Borgsaid. He said Celsius could do it with the company's Namibianpartner, unlisted Gecko Namibia, or it might divest from theproject before that time.
"We have an open mind. We have the building blocks in placeto go all the way to production given our relationship withGecko. Whether we actually do or not is another question," Borgsaid.
"There may come an opportunity at some time to divest theproject and we certainly have an open mind on that."
Borg also said there were possibilities to produce cobaltsulphate, which is used in battery production, in
"There is good acid production capacity in
Production could take place at the mine site or in theNamibian port of Walvis Bay on