Market Update: Cobalt-Nickel Refinery Progress

COB is developing the first Cobalt Sulphate Refinery (Refinery Project) in Australia.

Recent milestones achieved:

  • Large-scale feedstock samples sourced from third parties have been processed
  • Potential offtake partners have begun to assess larger-scale sulphate samples produced from these sources
  • Detailed engineering design has commenced
  • Permitting on target for submission mid-2024

Workstreams are on track for a Q3 2024 decision to proceed to construction.

COB and Iwatani Australia Corporation will jointly market the Refinery Project at the upcoming annual Cobalt Institute Conference (13–14 May 2024).

COB is targeting both the US Inflation Reduction Act (IRA) and EU Critical Raw Materials Act (CRMA) compliance for its products. We believe that the timing of the Refinery Project is ideal as US/EU market demand will hit an inflection point in the coming years.

Joe Kaderavek, CEO Cobalt Blue commented “Refinery Project development is progressing well, and we remain on pace to see construction commence by the end of this year. There is significant interest from WA State and Australian Commonwealth governments, along with international commercial parties in the emergence of a new midstream critical mineral capacity in Australia for the global battery supply chain.”


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