Cobalt Blue pioneers Australia’s first cobalt refinery

Cobalt Blue (ASX: COB) has signed a binding pre-final investment decision consortium deed with Iwatani Australia to develop Australia’s first cobalt refinery located in Kwinana, WA.

The deed outlined terms in which both companies will advance the refinery towards a final investment decision (FID).

Conditions of the agreement include:

• Samples produced by Cobalt Blue meeting customer specifications
• Finalising a suite of Project related agreements covering joint venture relationships and operational plans, feedstock supply and offtake, and intellectual property licensing
• Completion of technical studies and independent due diligence reviews
• Agreement on a financing plan to cover project funding
• Iwatani Australia obtaining Foreign Investment Review Board approval

If a positive FID is made between the companies, targeted for December 2025, the Kwinana cobalt refinery will be the first of its kind in Australia.

The project is anticipated to be a significant enabler for the delivery of Australia’s Critical Minerals Strategy. The project has the potential to address the existing market gap among Australia’s critical minerals partners by producing high-quality, battery-grade cobalt sulphate for the global lithium-ion battery production chain.