AUS
NZ
UK
CA
USA
IND
Highlights
- Cobalt Blue advances refinery plans with new black mass testing.
- Ecobatt partnership enhances Australia’s battery recycling ecosystem.
- Kwinana Cobalt Refinery progresses toward key financing milestones.
Cobalt Blue Holdings (ASX:COB) is advancing its plans for a circular economy by transforming battery waste into critical minerals essential for global energy markets. At the core of these advancements is the progress on its Kwinana Cobalt Refinery (KCR) in Western Australia and successful testing of new feedstock, including black mass from battery recycling.
Progress at Kwinana Cobalt Refinery (KCR)
The company’s KCR engineering program is nearing completion, with detailed design studies conducted by Tetra Tech. The refinery is integrated into the Doral Fused Materials (DFM) site, focusing on plant layout, power supply, and surface water management.
Permit applications are also progressing, with a Works Approval submitted to the WA Department of Water and Environmental Regulation in November 2024. This approval outlines critical aspects like waste management and logistics, ensuring alignment with environmental requirements. A final financing decision is expected in 2025.
Cobalt Blue is also working with government funding agencies to secure financial support, streamlining processes for timely recommendations from state and federal authorities.
Feedstock Expansion and Ecobatt MOU
Feedstock work is critical for the KCR. Successful test-work has demonstrated cobalt extraction rates exceeding 95% from sources like cobalt hydroxide and cobalt-nickel sulphide precipitate. The latest expansion focuses on black mass, a byproduct of battery recycling, under a Memorandum of Understanding (MOU) with Ecobatt, a subsidiary of Ecocycle.
This partnership aims to process black mass into valuable cobalt, nickel, manganese, and lithium products for reuse in lithium-ion battery manufacturing. The collaboration supports Australia’s circular economy by reducing reliance on new mining projects and addressing the challenge of waste batteries in landfills.
Key Testing Milestones
Testing at Cobalt Blue’s Broken Hill Technology Development Centre has successfully extracted cobalt, nickel, and manganese from black mass provided by Ecobatt. The program is now expanding to produce refined chemicals suitable for battery cathode production, ensuring high-quality output for prospective offtakers.
Cobalt Blue’s collaboration with Ecobatt strengthens Australia’s battery recycling ecosystem, addressing critical mineral shortages while reducing environmental impacts.
Rights Issue Extension
Cobalt Blue has extended its non-renounceable rights issue, offering shareholders new shares at $0.072 each. The closing date is now January 17, 2025, providing additional time for participation. Proceeds will fund the KCR program, strategic reviews, and general corporate activities.
