Cobalt Blue Holdings Ltd (ASX:COB) has tapped renowned global process control and optimisation provider Honeywell International Inc (NASDAQ:HON) with an MOU aimed at further de-risking its flagship Broken Hill Cobalt Project in New South Wales.
The project, which Cobalt Blue expects will supply high-quality cobalt to meet growing global energy needs, covers an area of 63 square kilometres near the traditional mining centre of Broken Hill.
COB hosted a shareholder day as it opened the Broken Hill Pilot Plant in late May.
The MOU will see Honeywell provide centralising engineering design, energy optimisation, training and support with the goal of de-risking and cost-optimising the BHCP.
The right partner
Cobalt Blue CEO Joe Kaderavek said the company was delighted to have secured Honeywell’s services.
“This MOU will enable COB to de-risk and cost-optimise the BHCP and reduce our overall time to first production,” he said.
“In particular, the operator training and support will be valuable to minimise the BHCP commissioning period.
“Honeywell brings global reach and solutions to our technical needs. Data quality is essential to attract investment and commercial partners and the implementation of advanced data gathering, and analysis systems will assist the BHCP in this partnering process.”
Honeywell will ensure rapid scalability between the pilot plant, demonstration plant and commercial operations.
Where is the BHCP at?
Most recently, the company began producing sample scale Mixed Hydroxide Product (MHP) product for the lithium-ion battery industry from its new pilot plant at Broken Hill.
The MHP, a key feedstock supplying the global lithium-ion battery industry, also has the potential to attract higher prices and is in strong demand within the industry.
Assays reported last year for Cobalt Blue’s MHP product revealed cobalt content of 37%.
Fastmarkets quote prices for 30% minimum content cobalt intermediate hydroxides, with typical cobalt content of hydroxides from the Democratic Republic of the Congo (DRC) is 25-40%.
Excess cobalt above the benchmark commands a further premium due to lower logistics costs per unit of cobalt.
The company appointed Cutfield Freeman & Co Limited to act as a strategic financial advisor for the project back in April.
Cutfield Freeman is assisting in COB’s Global Project Partner Search by searching for and engaging with project partners and will also help identify potentially viable funding options and execution plans.
- Daniel Paproth
Story by ProactiveInvestors
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