Cobalt Blue Holdings Ltd (ASX:COB, OTC:CBBHF, FRA:COH) says its Kwinana Cobalt Refinery venture in Western Australia has cleared an necessary technical milestone after confirming that cobalt sulphate samples produced utilizing its proprietary course of meet stringent battery precursor materials specs.
The corporate reported that materials produced at its Damaged Hill Expertise Centre (BHTC) meets the trace-metal purity and bodily specs required by precursor cathode energetic materials (pCAM) prospects — a key step in direction of industrial offtake agreements and a remaining funding determination (FID) on the refinery venture.
Cobalt sulphate produced at BHTC.
Cobalt-containing pCAM is utilized in lithium-ion battery chemistries together with nickel-manganese-cobalt (NMC) and nickel-cobalt-aluminium (NCA), that are extensively deployed in electrical autos in addition to vitality storage and specialised electronics functions.
Solely a restricted variety of proposed refineries exterior China have efficiently produced cobalt sulphate to this specification, inserting the Kwinana venture amongst a small group able to supplying high-purity battery supplies.
“We’re delivering measurable progress for the Kwinana Cobalt Refinery,” Cobalt Blue CEO Dr Andrew Tong mentioned.
“Reaching potential pCAM buyer cobalt sulphate specs and advancing offtake discussions are crucial steps in direction of FID,” he added. “In parallel, our continued optimisation work on the Damaged Hill Expertise Centre and growth into black mass analysis improve feedstock optionality, strengthen venture economics and additional de-risk growth.
“These milestones reinforce our broader progress technique and place the corporate to capitalise on enhancing cobalt market situations.”
The Kwinana Cobalt Refinery is designed to turn out to be Australia’s first devoted cobalt refinery, producing high-purity cobalt sulphate for the lithium-ion battery trade in addition to cobalt metallic for defence and industrial markets.
Cobalt Blue has been progressing the venture alongside companion Iwatani Australia beneath a binding pre-FID consortium deed signed in April 2025, which outlines the framework for collectively advancing the refinery in direction of growth approval.
A number of key situations required earlier than the companions can transfer to a remaining funding determination have already been accomplished, together with:
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Securing a binding feedstock provide contract with Glencore in Might 2025
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Receiving a works approval allow from the Western Australian Authorities in September 2025
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Producing cobalt sulphate samples assembly trace-metal specs utilizing venture design parameters
Different steps stay in progress, together with changing letters of curiosity into binding offtake agreements and finishing technical research and due-diligence opinions. Financing preparations and three way partnership documentation are anticipated to comply with as soon as offtake agreements advance additional.
Since mid-2023, the corporate has invested greater than $7 million advancing growth of the refinery.
As a part of efforts to assist Australia’s rising battery supplies provide chain, Cobalt Blue has additionally equipped high-purity cobalt sulphate to CSIRO to be used at its Cathode Precursor Manufacturing Pilot Plant in Western Australia.
The power, operated in partnership with Curtin College and the Minerals Analysis Institute of Western Australia, is designed to check manufacturing of battery cathode precursor supplies from Australian uncooked supplies.
The corporate has already delivered 4 kilograms of cobalt sulphate monohydrate for testing, contributing to home growth of pCAM and cathode energetic supplies.
On the identical time, Cobalt Blue has strengthened mental property safety round its refinery flowsheet by means of a newly lodged Australian patent software protecting an built-in course of for producing high-purity cobalt sulphate.
Past standard feedstocks, the corporate can also be exploring battery recycling alternatives by means of analysis of battery “black mass” — a mix of metals recovered from end-of-life lithium-ion batteries.
Battery black mass.
Beneath a brand new collaboration with CSIRO, Cobalt Blue has begun designing a course of to get well and purify graphite from black mass to battery-grade specs.
Battery black mass usually accommodates 20–40% graphite alongside cobalt, nickel and different metals, providing the potential for a number of income streams and improved venture economics if efficiently processed.
Battery black mass – typical content material and potential worth streams.
The analysis program will likely be supported by a mix of CSIRO grants and firm funding as Cobalt Blue continues to broaden feedstock choices for the Kwinana refinery.
Collectively, the technical qualification of its cobalt sulphate product, increasing market engagement and ongoing course of growth mark continued progress in direction of a remaining funding determination on what might turn out to be a key hyperlink in Australia’s crucial minerals provide chain.
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