Key Points
- Demonstration Plant: Recent activities focused on processing larger volumes of concentrate through to Mixed Hydroxide Precipitate (MHP) circuit. Nickel/cobalt sulphate samples produced.
- Permitting: Environmental surveys complete. Environmental Impact Statement (EIS) in preparation.
- Kwinana Refinery Project Update: Refinery concept study has identified approximately A$70m in pre-production capital to fund 3,000tpa standalone refinery. We are engaged with a potential
partner that owns a suitable property in the Kwinana district where we expect to commence refinery construction next year. The potential partner is further determining an appropriate level of
equity ownership in the Kwinana Refinery Project via a funding contribution. See below to download the full Media Release. - Australian Government Support: Critical Minerals Accelerator Initiative (CMAI) grant second instalment ($6m) expected in June 2023. The recently announced compact between the US and
Australia further advances the prospects for Australian critical minerals projects. - Cobalt price review: Cobalt supply/demand imbalance is expected to ease from 2024 as demand growth overtakes output for a sustained period with prices back toward long-term averages.
- Additions to Management Team: Cobalt Blue is proud to announce two new senior starters: Project Finance Manager and Project Acquisition Manager.