Formation Capital plans to start producing cobalt cathode in the U.S. in late 2008, according to J. Scott Bending, president of the Vancouver firm. The plant in east central Idaho is expected to produce 1,625 metric tons of cobalt cathode annually. “This will make us the largest integrated cobalt producer in America, and second largest producer in the world,” Bending said in a statement. Formation Capital's Idaho plant currently produces 10 million troy oz of silver, 350,000 oz of gold and 8 million lbs of copper annually.