Formation to Start Work on Idaho Cobalt Mine
Canada's Formation Metals will begin construction at its 100%-owned Idaho cobalt mine in three stages from January 2010, after gaining approval from the US Forest Department.
Planned for January 2010 to March 2010, the first stage will include timber clearing operations for the tailings and waste rock storage facility, topsoil stock pile area, roads around the mill site and concentrator pads.
In the second stage, scheduled for the second quarter of 2010, Formation will undertake facility construction and mine development.
Mine development below the water table will be carried out in the third stage, scheduled for the fourth quarter of 2010.
Formation Metals chairman and CEO Mari-Ann Green said that once mine financing is in place, it can build the mine and commence cobalt production in early 2011.