SAN FRANCISCO, CA --(Marketwired - June 12, 2017) - With a global shortage of cobalt predicted, Global Energy Metals Corp. (
Company included in article: Global Energy Metals Corp.
Global Energy Metals Corp. is striving to become a niche supplier of cobalt. In March, the company signed a long-term strategic cooperation agreement with Beijing Easpring Material Technology Co., a major battery component supplier, to build an efficient and reliable cobalt supply chain.
Global Energy Metals reported that as part of the cooperation agreement, the two companies "have agreed to a joint venture that will allow for the identification, acquisition, development, funding and commercialization of cobalt projects. GEMC will acquire the expertise and relationships that Easpring offers, including low-cost capital from Chinese institutions, leading Chinese engineering and construction skills, and Chinese machinery, equipment and other critical suppliers that meet world-class standards of quality at competitive costs in exchange for access to GEMC's project development opportunities."
Global Energy Metals has noted that it has granted Easpring "Right of First Refusal to acquire an interest of each project by committing to pay for the pro-rata project acquisition and ongoing development costs." The cobalt concentrate could be shipped to Easpring, which would refine it to the exact specifications of the end-user.
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