Cobalt Blue Holdings Limited
Cobalt Blue Holdings Limited
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Australian explorer Cobalt Blue has raised the first 1,000t ore to surface for processing after completing the decline development to the demonstration plant at its Broken Hill cobalt project in NSW.
CEO Joe Kaderavek says it anticipates the demonstration plant will deliver over 3,000kg of cobalt products by Nov 2022 for technical validation of its processing technology, product quality and project investment talks.
(COMMENTARY)
Australia has the world’s largest supply of four critical minerals and is in the top five for many more, so why is it not making the most of them? By Mohan Yellishetty
Australian explorer Cobalt Blue Holdings is targeting first ore processing in late April with construction and commissioning underway on the demonstration plant at its Broken Hill project in NSW.
Two 80m underground development drives at the Pyrite Hill deposit will allow lateral access to the cobalt-pyrite mineral resource to mine 3,500-4,000t ore for processing in 20 weeks of continuous demonstration plant operation.
The planned development of one of the world’s largest cobalt projects, Cobalt Blue Holding’s Broken Hill project, has been promised an armchair ride through government approval processes with the award of major project status.
The project 25km SW of Broken Hill in NSW holds a global mineral resource of 189Mt @ 859ppm cobalt-equivalent, with the potential to elevate Australia to the world’s No 2 cobalt producer.
Australian energy explorer Cobalt Blue has begun construction of key equipment for a metallurgical testing centre in the NSW mining centre of Broken Hill for mineral processing technology it has developed to produce cobalt sulphate from pyrite samples sourced from its now 100%-owned Thackaringa project.
COB says the demonstration plant will also evaluate the application of its technology to other projects.
(COMMENTARY)
Renowned mining journalist, author and commentator Ross Louthean reports on the end of a feud at Broken Hill, the historic home of many of Australia’s most colourful mining characters and events – the belated resolution of the confrontation between the partners in the Thackaringa cobalt prospect.
Australian explorer Cobalt Blue Holdings will take 100% ownership of the Thackaringa cobalt project in NSW after reaching agreement to acquire the 30% stake of former partner Broken Hill Prospecting.
Cobalt Blue will pay $A0.5M cash and issue 9M shares at $0.15ps plus a $1M 3-year convertible note and $3M 5-year promissory note to BPL, which will retain a 2% NSR on cobalt production and rights to the project’s precious metals and exploration database.
An independent expert report may be enough to settle the lengthy row between Australian explorers Broken Hill Prospecting and Cobalt Blue over their Thackaringa cobalt project near the NSW mining centre of Broken Hill.
The companies have been at odds since early 2018 after 70% holder and operator Cobalt Blue chose not to go ahead with a BFS, saying the project needed more work.
After BPL disagreed, Cobalt Blue said it would go ahead and claimed 100% of the potential world-class mine.
Australian explorer Cobalt Blue Holdings is expecting a decision by mid-August from an independent expert inquiry into its dispute with JV partner Broken Hill Prospecting over the Thackaringa cobalt project near Broken Hill, NSW.
It’s a corporate dispute at a time of booming interest in cobalt, but mining commentator Ross Louthean draws parallels with one of the most dramatic events in the outback mining centre’s colourful history.
(COMMENTARY)
The growing attractiveness of cobalt for electric vehicles and energy storage has attracted the interest of experienced Australian mining commentator ROSS LOUTHEAN to the bitter dispute between explorers Broken Hill Prospecting and Cobalt Blue Holdings over the Thackaringa project – yet another page in the colourful history of Broken Hill.