Cobalt Blue Holdings Limited has been granted Major Project Status by the Federal government for its Broken Hill cobalt project, with the status to extend for a three-year period to support the project through its development phase.
The grant of Major Project Status – a formal recognition of the national economic implications of a project through its contribution to growth, productivity, government revenue, industry, and regional development – acknowledges the strategic significance of the Broken Hill project as a key national project.
The Broken Hill project is the only large-scale, non-Africa based greenfield primary cobalt project in the world, which when in production will elevate Australia to become the number two global producer of cobalt.
Cobalt Blue chief executive Joe Kaderavek said granting major project status to the Broken Hill cobalt project would greatly assist the company to raise development capital.
He continued: “This milestone is critically important for overseas partners and well timed in our development journey – Cobalt Blue can now boast both Made in Australia and Backed by Australia.”
The Broken Hill integrated mine/refinery operation aims to produce high quality, battery-ready cobalt sulphate using Cobalt Blue’s proprietary technology processing.
Product specifications can be tailored to suit the advanced lithium-ion batteries globally, including the next generation of solid-state batteries.
Critical minerals projects such as the Broken Hill cobalt project are integral components of the Australian Critical Minerals Strategy and Australia’s Long Term Emissions Reduction Plan, as well as aligning with national security and strategic interests to bolster geopolitical stability and building sovereign capability in the sector.