Coniagas Battery Metals Identifies Cobalt-Copper Concentrates for Processing Using Re-2Ox
Coniagas Battery Metals Identifies Cobalt-Copper Concentrates
for Processing Using Re-2Ox
V ancouver, BC – August 6, 2024 - Coniagas Battery Metals Inc. (TSXV: COS) (“Coniagas”
or the “Company”) continues to expand its position as a potential critical player in the electric
vehicle (EV) metals market by adding strategic sourcing and potential processing capabilities.
The Company may position itself with a competitive advantage by integrating the Re-2Ox
process as a toll operator.
Coniagas has successfully identified potential monthly shipments of 200 to 500 tonnes of
cobalt-copper concentrates from European warehouse operators, ensuring a reliable supply of
high-quality raw materials. This complements the significant stockpiles in the Democratic
Republic of Congo reported in an earlier press release, which total approximately 30 million
tonnes with industry-leading grades ranging from 1% to 6.5% copper and from 0.05% to
4.5% cobalt. This expansionary approach underpins the Company’s “Feed First” strategy,
which prioritizes reliable, long-term metal sources to support continuous production and
supply chain resilience.
Owing to the persistent shortages of feed in scaling up battery manufacturing capacity, the
Company will continue sourcing EV Metal concentrates as potential feed for the Re-2Ox
process to produce cobalt and nickel sulfates for EV batteries. Developed over six years at a
cost of $8 million, the Re-2Ox process has been validated through extensive testing, including
bench scales, two pilot plant studies, and a plant trial. This closed-loop, hydrometallurgical
process, toll-operated by Coniagas, significantly reduces environmental impact and
operational costs by allowing zero-discharge extraction and purification. Additionally, it
offers the flexibility to customize metal outputs to specific client specifications, optimizing
both production costs and process efficiency.
Due to the recent decline in Nickel Manganese Cobalt (NMC) battery prices, falling below
the critical $100 per kilowatt-hour threshold, EVs can be priced at or below combustion cars
in most vehicle segments, meaning the technology to decarbonize global road transport is
here. It is the perfect time for Coniagas to capitalize on its strengths. The Company’s strategic
positioning and operational efficiencies allow it to offer potential competitive pricing and
reliable supply to battery manufacturers, who are expanding production in response to
growing consumer demand. By ensuring a cost-effective and steady supply of high-quality
materials, Coniagas may be able to meet the increasing demand.
Coniagas Battery Metals Inc.
550 Burrard St. Suite 2900
Vancouver, B.C. V6C 0A3
Coniagas.com
Further to this strategy, Coniagas is extending its potential production capabilities to include a
wider array of Cathode Active Materials (CAM) and Precursor Cathode Active Materials
(PCAM). This expansion is crucial for supplying manufacturer-specific high-purity nickel and
cobalt sulfate essential for efficient battery manufacturing, aligning with global trends
towards more sustainable and cost-effective EV production.
Coniagas is in the process of establishing a pilot plant production facility in Quebec upon
completion of bench scale test work on Graal high-grade copper nickel drill core, leveraging
collaborations with SGS Quebec and targeting funding from Investissement Québec. This
facility is poised to become a cornerstone of Coniagas’s growth strategy, enhancing its ability
to supply critical materials efficiently and sustainably to global markets. Coniagas has
repeatedly shown a willingness to collaborate with different groups. The Company recently
met with interests in Switzerland and Germany, to discuss the potential for a European pilot
plant and production plants depending on European Union Funding programs.
Qualified Person
The technical information in this news release was reviewed and approved by Matthew
Halliday, P.Geo., member of the Ordre des Géologues du Québec, who is a Qualified Person
in accordance with National Instrument 43-101.
About Coniagas Battery Metals Inc.
Coniagas Battery Metals Inc. is a Canadian junior mining company, focused on nickel, copper,
cobalt, and platinum group metals in Québec. The company's strategy aims to generate
shareholder value by developing its mineral assets and constructing an advanced processing
plant, positioning Coniagas as a potential key supplier for the electric vehicle (EV) industry.
Graal Project: Strategic Resource Development
The 100%-owned Graal project near Saguenay, Quebec, has shown significant potential through
extensive geophysical surveys and shallow drilling. It has identified high-grade nickel and
copper mineralization, with showings of cobalt, platinum, and palladium. The confirmed 6 km
strike length of the project supports plans for an open-pit mining operation. Upcoming activities
include further drilling, metallurgical testing, and consultations with First Nations, culminating
in a NI 43-101 resource report. The NI 43-101 Technical Report Graal Nickel & Copper Project,
Saguenay-Lac-St-Jean, Quebec, Canada, dated January 17, 2024, provides detailed project
information.
Long-Term Vision and Commercialization Strategy
Coniagas leverages proprietary technologies like the Re-2Ox hydrometallurgical process for the
extraction and production of cleaner, low-carbon, battery-grade materials. This innovative
process eliminates the need for traditional smelting, significantly reducing the environmental
footprint. Combined with strategic projects such as Graal and CAM/pCAM production
initiatives, Coniagas is positioning itself as a potential player in the future of the EV industry.
For more information, visit the Company’s website.
“Frank J. Basa”
Frank J. Basa, P. Eng., Professional Engineers Ontario
Chief Executive Officer
For further information, contact:
Frank J. Basa, P. Eng. Ontario
Chief Executive Officer
P: 416-625-2342
or:
Wayne Cheveldayoff, Corporate Communications
P: 416-710-2410 E: [email protected]
You can follow Coniagas on Social Media:
LinkedIn: https://www.linkedin.com/company/coniagas-battery-metals/
X (Twitter): https://twitter.com/coniagasmetals
Facebook: https://www.facebook.com/coniagas/
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking statements regarding Coniagas Battery Metals Inc. (“Coniagas” or
the “Company”) which include, but are not limited to, comments that involve future events and conditions, which are
subject to various risks and uncertainties. Except for statements of historical facts, comments that address the private
placement referred to above, resource potential, upcoming work programs, geological interpretations, receipt and
security of mineral property titles, availability of funds, and others are forward-looking. No assurance can be given
that any of the foregoing will be achieved. Forward-looking statements are not guarantees of future performance and
actual results may vary materially from those statements. General business conditions are factors that could cause
actual results to vary materially from forward-looking statements. The Company does not undertake to update any
forward-looking information in this news release or other communications unless required by law.