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10:42
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Originally posted by bluesamurai:
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The near-term strategy of Cobalt Blue Holdings Ltd (ASX:COB, OTC:CBBHF) to focus on progressing its Cobalt Nickel Refinery Project in 2024 is likely to receive a major boost through a potential partnership with leading Japanese multinational company Iwatani Corporation.COB plans to construct the refinery in the Kwinana Industrial Area near Perth in Western Australia and has executed a non-binding agreement to partner with Iwatani to develop the plant.The proposed location for the cobalt-nickel refinery plant is the Doral Fused Materials (DFM) site, which is owned by Iwatani Australia and is in East Rockingham WA near the Fremantle Port.This proposed partnership is expected to bring significant value to the project as Iwatani is an established large-scale trader of battery minerals into the important Japanese and US battery supply chain and an established landholder/operator in the Kwinana district.READ: Cobalt Blue has near-term focus on Cobalt Nickel Refinery Project after positive studyCOB will progress this project during 2024 after fielding positive results from a study focusing on the refinery, a proposed large-scale, cobalt-nickel operation representing Australia’s first cobalt refinery that will produce high-quality, battery-grade cobalt sulphate intended for Inflation Reduction Act (IRA) compliant markets such as the US.The company says the investment case is sound, with the potential for robust returns and this provides a suitable platform for advancing the project through the next stages of pre-development up to a Financial Investment Decision planned in mid-2024.In this Q&A, COB’s investor relations/commercial manager Joel Crane explains to Proactivethe rationale behind the refinery as well as the importance of the agreement with Iwatani.What is the strategy behind the Cobalt-Nickel Refinery?First and foremost is to meet the immediate requirement for midstream materials in the Allied Nations battery raw material supply chain.During our nearly 7-year journey to develop an integrated cobalt mine and refinery operation, the one consistent message to come out of commercial negotiations is immediacy.EV and battery makers want responsibly sourced materials as quickly as possible, and we have the technology and partnership to develop Australia’s first cobalt-nickel refinery by 2025. QUOTE Extract from Proactive article 4/12/23
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With the sad news of the closure of Alcoa Kwinana with 750 job losses that will cost the WA economy $650 million annually the need for new development will be critical in coming years. Let’s hope the COB Iwatani processing venture receives Government and IRA assistance with allied partners to get off the ground. IMO.https://cobaltblueholdings.com/news/market-update-iwatani-corporation-to-partner-on-cobalt-nickel-refinery/
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