Ecora Resources PLC (LSE:ECOR, TSX:ECOR, OTCQX:ECRAF) CEO Marc Bishop Lafleche spoke with Proactive's Stephen Gunnion about the company's cobalt stream investment at Voisey's Bay in Canada and the production ramp-up timeline.
Following a trip by Ecora's team to Voisey's Bay, operated by Vale, Lafleche highlighted Ecora's entitlement to nearly 23% of the cobalt production from the mine, which initially started as an open-pit operation and is now transitioning underground with significant production increases expected by 2026.
Lafleche shared that Ecora anticipates a substantial rise in cobalt deliveries from 11 in 2023 to 40 per year at full production—nearly a 400% increase. He mentioned that the Eastern Deeps underground ore body will see ramped-up production from Q4 2024, with full production targets by the end of 2026.
Despite the cyclical lows in cobalt pricing, Lafleche expressed optimism, pointing to a market recovery and demand growth. He emphasised that even at low cobalt prices, the Voisey’s Bay stream could generate close to $20 million in annual revenue at full production. Lafleche also praised the professionalism and infrastructure at the mine, noting that the life of the mine could potentially extend beyond current reserves.
