Canmine aims to acquire plant

The problem-plagued Cobatec hydrometallurgical plant and refinery near Cobalt, Ont., is about to change hands.

Canmine Resources (CMR-T) plans to buy the cobalt-nickel processing plant for $6.1 million from the receivers. Cobatec was placed into receivership in late 1998

after the company failed to obtain sufficient feedstocks for the facility, which also encountered technical problems and never achieved profitability.