Cobalt Blue Holdings Ltd (ASX:COB, OTC:CBBHF) earlier this week secured a key regulatory approval for its Kwinana Cobalt Refinery in Western Australia. Process engineer Gajan Loganathan told Proactive the approval followed a modification submitted in November to the existing on-site permit.
Highlights
- Cobalt Blue Holdings Ltd has received works approval for its Kwinana Cobalt Refinery project in WA.
- The approval, granted by the Department of Water and Environmental Regulation, allows for construction and operation of the refinery at the DFM site in East Rockingham.
- This marks a significant milestone towards achieving a Final Investment Decision (FID).
- The company aims to reach FID by the end of 2025.
- Recent progress includes:
- Glencore feedstock agreement
- Continued testwork and flow optimisation at the Broken Hill Technology Centre
- Commercial negotiations with offtakers and funders
- Market interest in cobalt is increasing, particularly in industrial and defence sectors.
A significant step forward
Cobalt Blue's works approval from the Department of Water and Environmental Regulation allows it to construct and operate the cobalt-nickel refinery within the DFM premises at the Ralph’s Materials site in East Rockingham.
The company highlighted that the approval represents a significant step forward in meeting the conditions required to reach a Final Investment Decision (FID), which is targeted by the end of 2025.
Further milestones to come
Cobalt Blue told investors that progress was being made on several fronts. It cited the recent Glencore feedstock agreement, testwork and flow optimisation at the Broken Hill Technology Centre, and ongoing commercial discussions with offtakers and funders.
The company also noted growing interest in cobalt, particularly from industrial and defence sectors.
Loganathan described it as an “exciting time” for the company, with further updates anticipated as milestones are met.