Cobalt Blue Ltd CEO Dr Andrew Tong talked with Proactive about the company’s recent milestone—a major feedstock supply agreement with Glencore International for the Kwinana cobalt refinery. The deal secures up to 50% of the cobalt hydroxide required over an initial three-year term.
Dr Tong explained that this agreement is a key step towards reaching a Final Investment Decision (FID), targeted by the end of 2025. “That agreement lays out all the milestones that we need to achieve to get to FID,” he said, referencing seed and offtake agreements, product specifications, and project financing.
While the company originally intended to use Australian feedstock, challenges in the local market led them to source from Africa, which accounts for 76% of global cobalt production. Dr Tong confirmed that testing on Glencore’s material had already been conducted at their Broken Hill demonstration plant, yielding both cobalt sulfate and cobalt metal.
The Kwinana refinery will produce cobalt sulfate for the battery market and cobalt metal for superalloys and defence applications. In the short term, the company is focused on progressing joint venture discussions with Iwatani Corporation and securing debt and equity financing.
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