AI Overview+5Recent news highlights Australia's growing role in...

AI Overview+5Recent news highlights Australia's growing role in the global cobalt supply chain, particularly with the development of the first domestic cobalt refinery, Kwinana Cobalt Refinery (KCR), by Cobalt Blue Holdings. The KCR project, which is expected to be operational soon, is a significant step in establishing sovereign battery materials capability in Australia. Additionally, Glencore is providing cobalt feedstock to this refinery, further solidifying Australia's position in the global battery supply chain. Here's a more detailed look at the key news:Kwinana Cobalt Refinery (KCR):This project, led by Cobalt Blue, is set to become Australia's first cobalt refinery, producing battery-grade cobalt sulphate. The refinery is expected to be a major step towards domestic processing of cobalt, which has previously been exported unprocessed. Cobalt Blue's Strategic Partnerships:Cobalt Blue has been actively partnering with other companies to advance the KCR project. Cobalt Blue Holdings and Iwatani Australia have a binding pre-final investment decision consortium deed to progress the project. Cobalt Blue Holdings has also partnered with Glencore to supply cobalt feedstock. Australia's Growing Role:With the KCR project, Australia is poised to become a more significant player in the global battery supply chain, processing its own cobalt instead of exporting it. Global Demand:The global demand for cobalt is projected to continue to rise, driven by the increasing demand for electric vehicles. The KCR project is strategically timed to meet this growing demand. Other Cobalt Projects:While KCR is a major project, other companies like Coda Minerals are also exploring cobalt resources in Australia. Coda is focusing on its Elizabeth Creek copper-cobalt project in South Australia. QUOTE

COB entering the global battery supply chain at an opportune time IMO