Cobalt Blue Holdings Ltd (ASX:COB, OTC:CBBHF) is confident of the extensive global opportunities presented by its ReMine+ strategy that is creating a circular economy by transforming mine waste into critical minerals to re-enter the battery supply chain.
Mine waste represents a considerable challenge at a global level with around 13 billion tonnes of waste produced each year and billions of dollars held in environmental bonds and liabilities.
By employing circular economy principles, COB’s ReMine+ aims to redefine this liability into a valuable asset utilising COB’s patented technology to extract critical metals as well as sulphur.
ReMine+ specialises in creating value from mining, industrial and consumer waste, through specialised knowledge and patented technology.
This work is becoming more critical as the global green economy grows, including the take up of electric vehicles, and legislation in North America, Europe and Australia mandates domestic production of critical minerals.
2025 is set to be a year of significant progress for this strategy building on a strong foundation laid in 2024.
READ: Cobalt Blue progresses refinery and feedstock plans, including black mass MOU
Ecobatt MOU
The year ended on a strong note through an MOU with Ecocycle Pty Ltd (Ecobatt) to explore and evaluate opportunities around processing black mass, a mix of crushed metals produced in battery recycling from shredded battery scrap, into critical minerals to re-enter the battery supply chain.
Ecobatt is the pre-eminent battery recycling company in Australia and the MOU will see both parties evaluate the feasibility of treating black mass within Australia with the aim of developing a partnership centred on collaboration within the battery recycling ecosystem.
This MOU follows other collaborations for the ReMine+ strategy which involves partnering with industry and government to re-commercialise legacy sites through the extraction of valuable stranded metals and restoration of environmental integrity.
Other collaborations
COB has a potential partner to develop its proposed Kwinana Refinery Project in Iwatani Corporation, a leading Japanese multinational company that specialises in the production and trading of commodities.
Iwatani has a presence in the Kwinana industrial precinct in which it is proposed to establish the refinery and the two parties are collaborating in the trial of high-purity battery chemicals into the lucrative Japanese market.
The cobalt-nickel refinery is another strategy being progressed by COB which will intertwine with ReMine+ through the production of critical minerals for the global supply chain.
Financial support for the refinery is being sought, with screening processes underway to encourage political decisions from State and Federal governments. A financing decision is expected this year.
Another partnership assisting in the ReMine+ strategy is with the Minerals to Megawatts Cooperative Research Centre (CRC), which aims to coordinate research, development and manufacturing of all aspects of the mine-to-battery market supply chain within Australia.
Cobalt Blue intends to supply the CRC partners with battery-grade chemicals for cathode precursor manufacturing. The feed source used by COB will include black mass from battery recycling (by others).
Cobalt sulphate produced by COB at the Broken Hill Technology Development Centre.
Role of Broken Hill centre
ReMine+ and its extensive global opportunities stem from ongoing work at COB’s Broken Hill Technology Development Centre where the company has invested more than $15 million and five years.
Metal recovery and refining work from multiple feedstock sources is being developed and enhanced using proprietary hydrometallurgical processing.
This has seen the successful recovery of critical minerals including cobalt and nickel with these metals refined to cathode specifications.
The Broken Hill Technology Development Centre.
As part of the Ecobatt MOU, Cobalt Blue has successfully tested samples of black mass provided by Ecobatt to extract cobalt, nickel and manganese.
The test-work program is expanding to cover the production of suitable forms of separate cobalt, nickel, manganese and lithium chemicals for onward sale for lithium-ion battery cathode manufacturing.
COB is confident that this work will provide sufficient feedstock to support the 10,000 tonnes per annum refinery in Kwinana, Western Australia.
ReMine+ is encouraged by test-work successes achieved to date, with COB’s proprietary technology proven at mine waste sites in New South Wales, Queensland and Canada, with 90% pyrite from tailings at the Flin Flon mine site in Canada converted to pyrrhotite plus sulphur.
The testing is ongoing with mine waste projects being assessed on four continents.
There are 13 billion tonnes of mine waste produced globally each year.
Investor roadshow
Cobalt Blue is planning an investor roadshow in the near future to present its ReMine+ strategy and its extensive global opportunities.
The company has issued a new presentation to accompany the investor roadshow, which can be viewed on this link (click here).
Entitlement issue closes this week
Cobalt Blue also reminds investors that the closing date for the pro-rata non-renounceable rights issue is Friday, January 17, 2025.
The offer booklet is available on the COB website or at this link (click here).