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Sherritt receiving interest for cobalt streaming deals, says CEO

Sherritt International Corp. CEO David Pathe said the company has received interest from investors for the purchase of its cobalt streams, Bloomberg News reported March 12.

"A lot of people are looking to get cobalt exposure," said Pathe.

However, Sherritt will consider cobalt streaming deals on attractive terms, the executive said. Pathe sees a possibility of cobalt prices surpassing US$55 per pound in the next 12 to 18 months.

The company holds interests in the Ambatovy nickel-cobalt mine in Madagascar and the Moa Bay nickel-cobalt mine in Cuba.

In late January, the company completed a C$132 million financing, offering its units partially linked to the price of cobalt.