The Coalition government had announced Cobalt Blue would receive a $15 million grant to undertake a feasibility study to find the best way forward for the project, but then they got voted out of office back in May, but the new Labor Government has confirmed the grant will be honoured, so work at the company continues as they get ever nearer to opening up a mining operation.
The grant has allowed Cobalt Blue to progress its Feasibility Study, and engineers have begun reviews of potential water and power usage throughout the mine.
Every quarter Cobalt Blue provides a report to the Australian Stock Exchange to explain how the Broken Hill Cobalt Project is progressing.
During this quarter, the company reported it had successfully commissioned its Demonstration Plant Kiln, which has already seen five tonnes of concentrate dried and processed.
Even though Cobalt prices dropped 40% between June and August, the Cobalt Blue project has pressed on with drilling and collecting waste rock samples to test for acid generation properties in the laboratory, carrying out further soil investigations, and conducting an additional ecological study.
The mine is expected to enter commercial production in 2025.
