Cobalt Blue Receives $2.4m Research and Development Tax Incentive Rebate

The Company is pleased to announce on 11 December 2024, it received a 2024 R&D Tax Incentive Rebate, totalling A$2.4m from the Australian Tax Office.

The rebate relates to an approximate A$5.5m investment at the Broken Hill Technology Development Centre. Activities included evaluating and optimising key unit operations and preparing supporting information for the detailed engineering of the proposed Kwinana Cobalt Refinery (KCR).

Throughout this year, the Technology Development Centre's primary focus was testing third-party feedstock to produce battery-grade cobalt sulphate and nickel byproducts. This work has provided vital data and information to advance the project through the next stages of pre-development and ultimately to a Financial Investment Decision.

Additionally, the technology and processes developed at the Broken Hill Technology Development Centre aim to be applied to extract critical minerals from mine waste. The Cobalt Blue process also removes acid-forming sulphides to commercialise sulphur production, reduce ongoing tailings management costs, and mitigate potential environmental

harm.

Contact

joel.crane@cobaltblueholdings.om

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COB News Release - R&D Funding December 2024 Download PDF