Cobalt Blue Holdings Limited (ASX:COB) Market Update
Kwinana Cobalt Refinery Progress
Cobalt Blue Holdings Limited (ASX:COB) has made significant strides at its Kwinana Cobalt Refinery (KCR) as it progresses towards a project financing decision in 2025. The engineering program is nearing completion, supported by the submission of the primary operating permit to Western Australia’s Department of Water and Environmental Regulation.
The company successfully executed testwork at the Broken Hill Technology Development Centre, achieving cobalt extractions exceeding 95% from various feedstock sources. This includes a promising assessment of black mass from Australian battery recycler Ecobatt, which paves the way for further advancements in battery recycling processes.
Strategic Collaboration with Ecobatt
Cobalt Blue has entered into a Memorandum of Understanding (MOU) with Ecobatt to explore the feasibility of processing black mass from battery recycling in Australia. This collaboration aims to support Australia’s circular economy and enhance the recovery of critical minerals from spent batteries.
Joe Kaderavek, CEO of Cobalt Blue Holdings, stated, “This partnership with Ecobatt will contribute to the growth of Australia’s battery recycling ecosystem, addressing both environmental challenges and market demands.” The MOU is effective until December 31, 2025.
Future Outlook
Cobalt Blue is actively seeking government financial support for the construction of the Kwinana Cobalt Refinery. The company is engaged with relevant funding agencies to ensure timely recommendations and decision-making at both state and federal levels.
Amid ongoing advancements in refining technology and sustainability, Cobalt Blue continues to focus on optimizing its metallurgical processes to meet global demands for critical minerals essential for energy transition.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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