October 3, 2019 / 3:12 PM / 13 days ago

Canada's Fortune Minerals scales back mine on weak cobalt

Oct 3 (Reuters) - Canada's Fortune Minerals Ltd has shelved plans to upsize its early-stage cobalt mine in country's far north while it continues to hunt for a strategic partner, the company said on Thursday.

The London, Ontario-based company said current weak prices for the critical battery ingredient don't justify expanding daily throughput to 6,000 tonnes from 4,650 tonnes at its proposed Nico project in Canada's Northwest Territories. (Reporting by Jeff Lewis, Editing by Franklin Paul)

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