Broken Hill extends major project status

Cobalt Blue Holdings (ASX: COB) has been awarded a three-year extension on the major project status for its Broken Hill cobalt project in NSW.

Major project status enables additional Federal Government regulatory support for projects of national significance through their contribution to strategic priorities, economic growth, employment and regional Australia.

The recognition of the project’s national significance supports the company in advancing investment discussions, particularly pertaining to international investor support, as well as domestic investment.

Cobalt Blue chief executive Andrew Tong says major project status acknowledges the strategic significance of the project in the delivery of the [Federal] Government’s A Future Made in Australia agenda, as well as the Critical Minerals Strategy and the National Battery Strategy.

“The development of the Broken Hill cobalt project has the potential to position Australia as a leading global cobalt producer and strengthen supply chain security for likeminded partners,” he said.

“It also creates an opportunity for locally-sourced feedstock to support the growth of new Australian downstream industries — an ambition we are actively pursuing through our Kwinana Cobalt Refinery and Broken Hill Technology Centre.”

The Kwinana refinery in WA is set to become the country’s first cobalt refinery, producing high-quality, battery-grade cobalt sulphate for the global battery materials supply chain.

It will process critical battery metals from third-party feedstock and mixed hydroxide precipitate from the Broken Hill cobalt project.