Cobalt Blue Holdings Ltd (ASX:COB) is encouraged that its flagship Broken Hill Cobalt Project (BHCP) has been included in the Australian Government's Critical Minerals Prospectus 2020 and NSW Government's Minerals Strategy.
The Australian Critical Minerals Prospectus 2020 details potential Australian investments in a wide range of critical minerals including cobalt and of the seven cobalt projects detailed, the BHCP is the only primary cobalt project.
The Australian Government will be using the prospectus to engage potential investors and offtakers on the opportunities in Australia’s critical minerals sector.
The NSW Government has prepared the NSW Minerals Strategy which highlights the endowment of critical minerals, including the BHCP, in NSW and their support for investment and development of critical minerals mining and processing opportunities.
Over the last six months, BHCP test-work results combined with the Project Update 2020 release have provided COB with fresh momentum for commercial discussions.
Cobalt Blue chief executive officer Joe Kaderavek said: “I am delighted to reaffirm that first large-scale product samples are scheduled to be produced quarter one of 2021, which will then kick off our commercial sample program (spanning Korea, Japan, India and the EU), of which we can name LG International, Mitsubishi Corporation and Sojitz Corporation as partners.
“Successful production of a >100-kilogram sample of 20.8% cobalt sulphate will, in my view, provide a significant catalyst for our business.
“Our plans reflect a strong belief that cobalt prices will strengthen over the coming few years.
“We intend to be well-positioned and ready at a time the cobalt market will require the development of a major new cobalt mine/refinery, in a low political risk jurisdiction with well-established infrastructure.”
Prospectus and strategy documents
The Australian Critical Minerals Prospectus 2020 can be found at: https://www.austrade.gov.au/australian-critical-minerals-prospectus
A companion document – Critical Minerals Projects in Australia 2020 – provides up to date project profiles, maps and geodata that affirm the sector’s clear economic potential, and is available at: https://www.austrade.gov.au/International/Invest/Opportunities/Resources-and-energy
The NSW Minerals Strategy is available at: https://www.resourcesandgeoscience.nsw.gov.au/__data/assets/pdf_file/0007/852505/NSW-Minerals-Strategy-2019-02.pdf