Cobalt Blue has secured a three-year Major Project Status extension for its Broken Hill cobalt project in New South Wales.
Major Project Status recognises economically significant projects to Australia and enables strategically significant projects to obtain extra support and coordinated approvals.
The Major Project Status extension will support Cobalt Blue in advancing investment discussions with international funding sources and domestic investors for the Broken Hill cobalt project.
The designation will also allow Cobalt Blue to receive direct support from the Major Projects Facilitation Agency, which includes the coordination and facilitation of Federal Government approvals related to areas such as the environment, biosecurity and foreign investment.
“Major Project Status acknowledges the strategic significance of the Broken Hill cobalt project in the delivery of the Australian Government’s ‘Future Made in Australia’ agenda, as well as the Critical Minerals Strategy and National Battery Strategy,” Cobalt Blue chief executive officer Andrew Tong said.
“Obtaining a three-year extension to Major Project Status for the Broken Hill cobalt project is an important enabler for our project development plans.”
Cobalt Blue said the Major Project Status extension strengthens its relationship with project partner Iwatani.
“Iwatani Australia welcomes this support from the Australian Government, and it reinforces our decision to invest in Australia,” Iwatani Australia managing director Naomasa Ueda said.
“The recognition of the Broken Hill cobalt project further strengthens the case for progressing the Kwinana cobalt refinery toward a final investment decision.”
The Kwinana cobalt refinery in Western Australia 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.
Tong said both projects will create opportunities “for locally-sourced feedstock to support the growth of new Australian downstream industries”.
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