COB made significant steps toward the construction of Australia’s first Cobalt Refinery, including testing of third-party feedstock at our Technology Development Centre. We have now produced over 100kgs of cobalt/nickel sulphate, validating our processing technology and allowing larger sample sets to be assessed by potential global partners.
We continue to progress our relationship with Hudbay Minerals via testwork on their Flin Flon Mine Tailings Project. Testwork is proving promising, and we look forward to moving to more detailed commercial discussions. In parallel, we continue to evaluate other mine waste opportunities in Australia and around the world.
In a review of trends in the global cobalt market, we highlight industry-leading researcher Benchmark Minerals Intelligence’s recent outlook upgrade following price-related cuts to mined output estimates, stockpiling of physical cobalt and sustained EV demand. We see a number of “bottom of the market” behaviours currently and believe that the cobalt market will begin to rebalance over the next 12-24 months.
Download the full announcement for more information on all of our activities.