Vale at work on 開拓するing Canadian cobalt stream 取引，協定 - sources
By Barbara 吊りくさび and Clara Denina
JOHANNESBURG/LONDON, Jan 30 (Reuters) - Brazilian 鉱夫 Vale is 捜し出すing to sell un-地雷d cobalt 価値（がある） hundreds of millions of dollars to 投資家s, as 憶測 rises over a 不足 of the metal needed to make 殴打／砲列s, sources familiar with the 事柄 said.
Such streaming, which 許すs an 投資家 to make an upfront 支払い（額） in 交流 for 未来 生産／産物 at a 割引d price, has 拡大するd as a form of 財政／金融 for precious and base metals companies but this 取引，協定 would be a first for the にわか景気ing cobalt 部門.
Cobalt is a 批判的な 構成要素 in rechargeable lithium-イオン 殴打／砲列s and its price has 利益d from a 押し進める by 政府s and 自動車製造業者s to 促進する electric 乗り物s to 削減（する） 放出／発行s from ディーゼル and 石油 cars.
Prices have 急に上がるd by nearly 150 パーセント since the beginning of last year to around $80,000 a tonne, spurred in part by nervousness about 依存 on 最高の，を越す cobalt 生産者 Democratic 共和国 of Congo, which is 疫病／悩ますd by pockets of lawlessness and 衝突.
Carmakers such as Volkswagen have sought 契約s to lock in long-称する，呼ぶ／期間／用語 供給（する）s of cobalt for their ambitious electric 乗り物 計画（する）s.
Cobalt 延長するs 殴打／砲列 life. 分析家s 見積（る） each 殴打／砲列 uses between 8-12 kg of the metal, while the 全体にわたる market is 概算の at just over 100,000 tonnes a year.
Vale has 雇うd Canada's Bank of Montreal (BMO) to raise around $500 million from 入札者s for cobalt that will be produced at its Voisey's Bay nickel 地雷 in eastern Canada, four sources said.
"BMO is also going out to talk to the 自動車製造業者s and 殴打／砲列 生産者s, people like Samsung and Toyota," one of the sources said. Samsung said it did not comment on rumour or 憶測 and Toyota had no 即座の comment.
The 過程 started at the end of December, with 見込みのある 買い手s reviewing the （警察などへの）密告，告訴（状）, two of the sources said.
A Vale 広報担当者 in Canada 拒絶する／低下するd to comment. BMO did not 答える／応じる to a request for comment.
There is no certainty the 過程 will result in a 取引，協定, the sources said. The people, to whom Reuters spoke over a period of several days, 拒絶する／低下するd to be 指名するd as the 会談 were confidential.
The 取引，協定 could 供給する the winning 入札者 with up to 3,000 tonnes of cobalt for 生産／産物 starting in 2020, one of the sources said. Around 2,000 tonnes would be 配達するd in the first 10 years, with the remaining 1,000 in the next 10.
For world's No.1 アイロンをかける 鉱石 生産者 Vale this is "a smart way of 財政／金融ing the 地下組織の 拡大 of Voisey's Bay", one of the sources said.
Vale could welcome the cash as it continues to を取り引きする the repercussions of Brazil's worst 環境の 災害 at Samarco, a dam designed to 持つ／拘留する 支援する 地雷 waste that was inundated by flood waters in 2015 and has since remained の近くにd.
SMALL MARKET COMPLICATES TALKS
The source said 交渉するing a price for a streaming 取引，協定 in cobalt could be 複雑にするd by the 限られた／立憲的な size of its market.
"No one has done a cobalt streaming 取引，協定 before and how you price it, given that it is not a liquid market, is very difficult," the source said. "But because cobalt is in short 供給（する） and there's a squeeze in 予期 of a 殺到する in 需要・要求する for electric 乗り物s, then you'll get 利益／興味."
採掘 streaming companies such as フランス系カナダ人 Nevada and Wheaton Precious Metals Corp are 推定する／予想するd to take a look, the sources said.
Wheaton 拒絶する／低下するd to comment and フランス系カナダ人-Nevada did not 答える／応じる to a request for comment.
Others that could be 利益／興味d 含む Cobalt 27, which buys cobalt to give 投資家s an easier way to get （危険などに）さらす to the metal; U.S. 私的な 公正，普通株主権 会社／堅い Orion 地雷 財政／金融 Group and BaseCore Metals, a new 王族 共同の 投機・賭ける between Glencore; and Canada's Ontario Teachers 年金 計画（する）.
Cobalt 27 and Orion 拒絶する／低下するd to comment, as did Glencore.
Vale in 2015 認可するd construction of an 地下組織の 地雷 at Voisey's Bay that should 延長する the 地雷 life by about 15 years to 2035 as the open 炭坑，オーケストラ席 地雷 runs out of 鉱石. Last year it slowed 地下組織の 開発 because of weak nickel prices and a company-wide 資産s review.
Vale last year also tried to sell a 火刑／賭ける in its nickel-cobalt Goro 地雷 in New Caledonia but decided to 延期する the sale after 初期の 企て，努力，提案s were lower than 推定する／予想するd, Reuters 報告（する）／憶測d in November. (付加 報告（する）／憶測ing by Nicole Mordant in Vancouver and Susan Taylor in Toronto; Editing by Alison Williams)
