Cobalt Blue Holdings Ltd (ASX:COB, OTC:CBBHF) has received a three-year extension to Major Project Status for its flagship Broken Hill Cobalt Project in New South Wales. Originally granted in March 2022, the renewal reflects the Commonwealth Government’s continued recognition of the project’s national significance to Australia’s critical minerals sector.
Major Project Status brings enhanced regulatory support at a federal level, improving the project's prospects for advancing into development. It also bolsters COB’s other initiatives, including the proposed Kwinana Cobalt Refinery and the Broken Hill Technology Centre.
CEO hails strategic significance
Cobalt Blue chief executive officer Andrew Tong welcomed the extension, noting: “Major Project Status acknowledges the strategic significance of the Broken Hill Cobalt Project in the delivery of the Australian Government’s A Future Made in Australia agenda, as well as the Critical Minerals Strategy and the National Battery Strategy.
“Obtaining a three year extension to Major Project Status for the Broken Hill Cobalt Project is an important enabler for our project development plans.
“The development of the Broken Hill Cobalt Project has the potential to position Australia as a leading global cobalt producer and strengthen supply chain security for likeminded partners. It also creates an opportunity for locally-sourced feedstock to support the growth of new Australian downstream industries – an ambition we are actively pursuing through our Kwinana Cobalt Refinery and Broken Hill Technology Centre.”
Iwatani welcomes continued support
The announcement also received support from project partner Iwatani Corporation.
“Iwatani Australia welcomes this support from the Australian Government, and it reinforces our decision to invest in Australia. The recognition of the Broken Hill Cobalt Project further strengthens the case for progressing the Kwinana Cobalt Refinery toward a Final Investment Decision,” Naomasa Ueda, managing director of Iwatani Australia Pty Ltd, said.
About Cobalt Blue
Cobalt Blue is focused on the development of cobalt supply chain infrastructure across Australia, with a portfolio that includes the Kwinana Cobalt Refinery (WA), the Halls Creek Project (WA), and the Broken Hill Cobalt Project (NSW). The company intends to seek shareholder approval to rename itself Core Blue Minerals Limited.