Cobalt Blue Refinery to Meet US & EU Battery Metal Demand
Sydney, Mar 15, 2024 AEST (ABN Newswire) - Cobalt Blue Holdings Ltd (
ASX:COB) (COH:FRA) (CBBHF:OTCMKTS) is positioned to provide the first Australian-domiciled response to the US Inflation Reduction Act (IRA) and the EU Critical Raw Minerals Act (CRMA). The proposed Cobalt-Nickel Refinery is a key building block for supplying responsibly sourced battery raw materials, empowering Allied Nations in the Energy Transition.
Plans have recently been unveiled to build the Cobalt-Nickel Refinery in the Kwinana Industrial Area, south of Perth, Western Australia, with first production estimated by early 2026.
The Premier of Western Australia, Roger Cook MLA, has provided a letter of support for the refinery, acknowledging its alignment with Western Australia's Battery and Critical Minerals Strategy and potential role in further solidifying the State's position as a national leader in battery material production.
The refinery aims to become a key supplier of responsibly sourced battery metals to meet soaring global demand for Electric Vehicles (EVs) and Energy Storage Systems (ESS). Its timely development aligns with the growing push for a secure Allied Nation supply chain as envisioned by the recently enacted IRA and CRMA. These ground-breaking legislations offer significant incentives for responsibly sourced materials, reshaping the global critical minerals landscape.
The future role of the Cobalt-Nickel Refinery is shown below - processing feedstock from domestic and international sources for export to global markets (primarily Japan, Europe, and North America).
*To view the Media Release, please visit:
https://abnnewswire.net/lnk/4YU3A1R5
About Cobalt Blue Holdings Limited
Cobalt Blue Holdings Ltd (ASX:COB) (FRA:COH) (OTCMKTS:CBBHF) is an exploration and project development company. Work programs advancing the Broken Hill Cobalt Project in New South Wales continue. Our ambitious goals are subject to funding availability. Cobalt is a strategic metal in strong demand for new generation batteries, particularly lithium-ion batteries now being widely used in clean energy systems.
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