Interesting discussion.SMP is a Nickel refinery with a Cobalt...

Interesting discussion.

SMP is a Nickel refinery with a Cobalt by-product. It has the capacity to produce around 2,000 t/yr of cobalt metal and 25,000 t/yr of nickel metal through leaching, solvent extraction and electrowinning processes.

This isn't a problem as Nickel is also highly attractive - stainless steel is in strong demand and batteries, which use both Ni and Co, are widely sought.

The BFS will probably need to show a second materials stream - toll or contracted feedstock - to keep the refinery running at capacity and to mix.

Where will this come from? Vale and Anglo American operate vertically integrated Ni operations in Brazil. Bit of research here:

https://insg.org/wp-content/uploads/2021/04/INSG_Insight_35_Nickel_in_Latin_America_and_the_Caribbean_2021.pdf

The BFS will make interesting reading.

Ash