Cobalt 27 announces the acquisition of a producing cobalt-nickel stream over a long-life, world-class asset by buying the right to purchase 55 percent of Highlands Pacific’s attributable share of cobalt production from the Ramu mine in Papua New Guinea.
According to the company, the arrangement is the first-ever streaming deal for battery metals. Streaming is a process that allows a company to make an upfront investment to secure future production at a lower price.
Highlands Pacific owns 8.56 percent of Ramu in a joint venture with the Papua New Guinea government and Chinese company MCC Ramu Nico, which is itself 39 percent owned by other Chinese entities.
