Cobalt Blue Holdings (ASX:COB) signs MOU with Queensland for cobalt recovery

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Cobalt Blue Holdings (ASX:COB) signs MOU with Queensland for cobalt recovery

ASX COB, COB Queensland MOU
Image source: © A2dstudiodesign | Megapixl.com

Highlights

  • Cobalt Blue signed an MOU with the State of Queensland.  
  • The company expects to receive initial testwork samples by the first quarter of FY22.  
  • COB will undertake testwork to evaluate minerals processing options.

 On Tuesday, the green energy exploration company – Cobalt Blue Holdings Limited (ASX:COB) announced that it has signed a Memorandum of Understanding (‘MOU’) with the State of Queensland to recover cobalt from mine waste.

As per the MOU, the company will undertake testwork to evaluate minerals processing options, including applying its proprietary minerals processing technology to recover target metals from feedstocks provided by the Department of Resources.

The company expects to receive the initial testwork samples by the first quarter of FY22.

Background  

The Queensland State Government announced an AU$13 million funding package in November 2019 to accelerate the development of ‘new economy minerals’ within the state.

In March 2021, the firm announced the commencement of its "Cobalt in Waste Streams Project." The initial work focused on desktop reviews of Australian sulphide waste streams with an initial focus on Queensland’s Northwest Minerals Province. COB has identified substantial cobalt in tailings, and now the company targets for deeper investigation. Hence, for collaboration under the Secondary Prospectivity Project, the company has executed an MOU with the State of Queensland. 

RELATED READ - Sayona Mining (ASX:SYA) partners with SOQUEM for drilling program 

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