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Celsius Resources eyes production from 1st Namibian cobalt mine by late 2020

Celsius Resources Ltd. is aiming to start production from the first cobalt mine in Namibia by late 2020, Reuters reported March 5, citing Managing Director Brendan Borg.

The company also plans to release a maiden resource for the Opuwo mine by the end of the month.

"We have found cobalt in Namibia and a lot of it. Everywhere we drill a hole along this prospective horizon we find cobalt," Borg said.

The executive said that it could advance the project along with its partner Gecko Namibia (Pty.) Ltd.

"We have an open mind. We have the building blocks in place to go all the way to production given our relationship with Gecko. Whether we actually do or not is another question," Borg added.

However, the company is also keeping an open mind regarding potential opportunities to divest the asset.