Mawson Gold and Ocean Partners Sign Memorandum of Understanding for Cobalt Recovery at Finland's Rajapalot Project

en.Wedoany.com Reported - Mawson Gold and Ocean Partners have signed a memorandum of understanding to jointly evaluate the cobalt recovery and commercialization prospects of the Rajapalot project in Finland.

The two companies plan to study potential commercial arrangements related to the production, marketing, and off-take of cobalt concentrate. Mawson Gold CEO Russell Bradford stated that the memorandum aims to examine the optimal technical processes for cobalt recovery and commercial solutions for selling concentrate into the cobalt market. The Rajapalot project, with its strategic cobalt component, is expected to position the company as a producer of critical metals as defined by the EU's Critical Raw Materials Act, which provides an advantage in obtaining project production permits.

Mawson Gold is evaluating opportunities to recover cobalt from mineralized materials associated with the Rajapalot project. Ocean Partners brings expertise in metal marketing, concentrate blending, off-take arrangements, project development, and financing solutions, and is interested in participating in the development of cobalt recovery processes and related commercial arrangements. The costs of the first phase of development, including sample generation, transportation, laboratory work, and supervision, will be shared by both parties.

The parties will cooperate in good faith to study the following: the technical aspects of metallurgical cobalt recovery from Rajapalot mineralized materials; the technical and economic feasibility of a cobalt recovery circuit and processing facility; potential cobalt concentrate marketing and off-take opportunities; concentrate blending opportunities and related commercial arrangements; and the possibility of Ocean Partners' future participation in project development.

This memorandum of understanding is intended to facilitate cooperation and information sharing during the evaluation process and does not constitute a binding commitment to advance any transaction, construction project, financing arrangement, or off-take agreement, nor does it create any binding obligations.