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Cobalt Plant Delay, Funding Hunt, Job Boost
Published 2 weeks, 3 days ago
Description
EVelution Energys cobalt processing plant in Arizona delayed until 2027, now aiming for 2029 completion. Secured $850M deal with Mitsui for cobalt sales, expanding output to cobalt metal. Project promises 3,300 jobs and $1B economic boost, but faces challenges from cheap Chinese imports and permit acquisition. Seeking funding from Export-Import Bank and private investors, with plans for a green, solar-powered facility.
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