TORONTO, ONTARIO–(Marketwired – June 19, 2017) – First Cobalt Corp. (TSX VENTURE:FCC)(OTCQB:FTSSF) (the “Company”) is pleased to announce it has adopted the Responsible Cobalt Initiative as the next step forward in its commitment to responsible mining in the DRC.
- Based on Organization for Economic Cooperation and Development (OECD) Due Diligence Guidance, the Responsible Cobalt Initiative provides steps for member companies to take to identify and address potential adverse impacts associated with their activities or relationships
- Responsible Cobalt Initiative was launched in response to human rights abuses and egregious health and safety conditions in some artisanal cobalt mines in the Democratic Republic of the Congo
- First Cobalt supports the Responsible Cobalt Initiative as part of its commitment to sustainable development in the DRC and the goal of zero harm to people, the environment and the communities in which it operates
Trent Mell, President and CEO commented,
“First Cobalt is committed to being a positive and contributing member of its operating communities. Mining activity can transform communities though regional economic development, career opportunities and provide an important source of income for local families. There is also the risk of contributing to significant adverse impacts, including serious human rights abuses and conflict. These problems cannot be fixed by one company and we are committed to working with industry partners and our communities to eliminate human rights abuses in the cobalt supply chain.”
Launched in November 2016, the Responsible Cobalt Initiative strives to bring about a collective response to social and environmental risks in the cobalt supply chain. It was developed in response to NGO reports detailing instances of child labour and egregious health and safety conditions in some artisanal cobalt mines in the DRC. The Initiative promotes the responsible sourcing and use of cobalt in all forms and aims to improve the lives of children and adults who mine cobalt in the Democratic Republic of the Congo.
Members of the Initiative pledge to follow OECD Due Diligence Guidance on Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas, which calls for companies to trace how cobalt is being extracted, transported, manufactured and sold. The OECD provides clear, practical guidance for companies to ensure they do not contribute to conflict or human rights abuses through their mining activities through a five-step risk-based due diligence process. This applies to all companies in the mineral supply chain that could potentially use minerals from conflict affected or high-risk areas, including preproduction exploration activities. The Responsible Cobalt Initiative was put forward by the Chinese Chamber of Commerce for Metals, Minerals & Chemicals Importers & Exporters (CCCMC), with strong support from OECD. Its members include Apple, Beijing Easpring Material Technology, HP, Samsung SDI, Huayou Cobalt and Sony.
First Cobalt has adopted and is committed to following the Responsible Cobalt Initiative as part of its commitment to sustainable development and the goal of zero harm to people, the environment and the communities in which we operate. This commitment means that we strive to act consistently in all our activities in relation to human rights, health & safety, the environment and community relations.
About First Cobalt
First Cobalt is focused on building a diversified global portfolio of assets that are highly leveraged to the cobalt market. The Company’s current assets include almost 3,000 hectares and three former mines in the Cobalt camp in Ontario, Canada. Cornerstone assets include an option for the former producing Keeley-Frontier mine, a high-grade mine that produced over 3.3 million pounds of cobalt and 19.1 million ounces of silver from 301,000 tonnes of ore, as well as a joint venture on a fully permitted cobalt refinery in Cobalt, Ontario. The Company also has interests in seven prospective copper-cobalt properties covering 190 square kilometres in the Democratic Republic of the Congo, all with known surface mineralization.
On behalf of First Cobalt Corp.
Trent Mell, President & Chief Executive Officer
For more information visit www.firstcobalt.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This news release may contain forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects’, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include the reliability of the historical data referenced in this press release and risks set out in First Cobalt’s public documents, including in each management discussion and analysis, filed on SEDAR at www.sedar.com. Although First Cobalt believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, First Cobalt disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.