- Two bulk samples (up to 5 tonnes each) of third-party feedstock have now been received at the Broken Hill Demonstration Plant and are undergoing evaluation. Importantly, the feedstock test work has delivered up to 95-97% metal recoveries and other positive results that de-risk major refinery cost assumptions.
- Samples of the cobalt and nickel products will be used to further offtake negotiations in 1H 2024. COB intends to supply battery grade samples to interested offtake parties, which will be considered an initial step in pre-qualifying the Refinery for commercial purposes.
- The Premier of Western Australia, Roger Cook MLA, has provided a Letter of Support for the COB/Iwatani Cobalt-Nickel Refinery Project. The Refinery is closely aligned with Western Australia’s Battery and Critical Minerals Strategy and will further establish the State as a national battery material production hub.
- In November 2023, COB published a Cobalt-Nickel Refinery Study presenting a compelling evaluation of a refining business that is expected to generate stable margins throughout the highs and low of the cobalt price cycle.
Joe Kaderavek (CEO, Cobalt Blue) commented: “We are thrilled to receive this support for our Cobalt-Nickel Refinery Project from the Premier of Western Australia. Having government support and strong testwork results de-risks the Cobalt Nickel Refinery project”.