Cobalt 27 buys royalty on Dumont nickel/cobalt project

Canadian cobalt investment vehicle Cobalt 27 has bought a 1.75% net smelter return royalty (NSR) on all future output of nickel and cobalt from Canadian diversified miner RNC Minerals' Dumont project, in the Abitibi region of Quebec, for $70-million. Dumont is thought to contain the world's largest undeveloped, permitted and construction-ready reserves of nickel and cobalt – two metals increasingly in demand for their respective roles in making lithium-ion batteries.