Releases Quarterly Results and Completion of Successful China Visit to Chinese Cobalt and Battery Producers
Sydney, May 3, 2017 AEST (ABN Newswire) - Cobalt Blue Holdings Ltd (
ASX:COB) CEO Joe Kaderavek and Chair Robert Biancardi recently completed a successful commercial/technical visit to China. They travelled extensively across four provinces, visiting companies responsible for over 80% of Chinese cobalt capacity. China processes approximately 50% of the world's cobalt and has long dated experience with cobalt extraction and technical expertise require to make cathodes (cobalt containing electrodes found in lithium-ion batteries).
COB management believes there are enormous benefits to co-operation, for example deploying best in class technologies to achieve high yield, low cost extraction processes. The team were very impressed by Chinese research and development efforts, particularly focussed upon cobalt salt production from sulphide materials (such as Cobalt Blue). Further, plant design and state of the art process control allow for efficient processing of very high material volumes.
From their viewpoint, Chinese refineries are looking for diversification away from an increasing dependency on sourcing cobalt from the African copper belt. The collective view was that current pricing (approx. US$25/lb) was sustainable, with all industry participants making a good margin. However, further upward price pressure may cause battery makers to "thrift" and use lower cobalt content cathodes in response.
To view the Quarterly Report, please visit:
http://abnnewswire.net/lnk/26V4Y7K4
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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