Gecamines to Purchase OM Group’s Big Hill Project

Bloomberg reported that talks are almost finished between Gecamines and George Forrest Group to purchase  OM Group Inc.’s Big Hill project.

As quoted in the market report:

Gecamines and closely held George Forrest Group are also near to wrapping up talks with Cleveland-based OM Group (OMG) to take over its stake in the so-called Big Hill project, an operation which refines cobalt tailings in Lubumbashi, the capital of Katanga province, Kalej said.

To view the whole Mining Weekly report, click here.

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Formation Metals Inc. (TSX:FCO,OTCQX:FMETF) primary asset, located in the mining friendly state of Idaho, is the 100% owned, Idaho Cobalt Project. The ICP is a unique, high grade, primary cobalt deposit which is comprised of the mine and mill site and the proposed refining facility, the Cobalt Production Facility, a stand-alone hydrometallurgical facility that will process the ICP Mine concentrates into cobalt sulfate, copper sulfate, copper concentrate, magnesium sulfate and gold. Connect with FCO to get their latest news instantly.

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