Cobalt Blue has received $15 million from a Critical Minerals Accelerator Initiative to help produce a Definitive Feasibility Study.
Broken Hill Cobalt Blue is one of four companies to receive a grant through the $200 million Critical Minerals Accelerator Initiative according to Minister for Resources and Water Keith Pitt.
“The Accelerator initiative will help strategically significant projects like Broken Hill Cobalt Blue to fast-track early- and mid-stage projects to market and drive investment,” Minister Pitt said.
Broken Hill Cobalt Blue will use the money to create final engineering designs, further drilling to define the resource, services and supply connection studies, workforce strategy, securing land use approvals and execute a financing strategy.
“Cobalt Blue is developing a cobalt mine and refinery, producing cobalt sulphate, which is a key input into lithium-ion battery supply chains, importantly it will help build our sovereign capability in cobalt processing and establish Australia as a reliable supplier of refined cobalt products,” Member for Parkes, Mr Coulton said.