Broken Hill Cobalt Project awarded $15m Critical Minerals Accelerator Initiative Grant
Receives $15m Commonwealth Government Grant
Sydney, April 28, 2022 AEST (ABN Newswire) - Cobalt Blue Holdings Limited (
ASX:COB) (COH:FRA) (CBBHF:OTCMKTS) has been awarded $15m* through the Critical Minerals Accelerator Initiative (CMAI) for the Broken Hill Cobalt Project (BHCP) by the Australian Government.
CMAI funding will enable COB to accelerate the development of the BHCP by expanding the scope of Feasibility Studies, bring forward infrastructure and services work packages, and decrease start-up commissioning risks.
CMAI funding follows on the heels of Major Project Status, providing strong support for COB to commercialise the first Australian cobalt sulphate refinery.
* In order to access the grant monies, COB will need to enter into a grant agreement with the Commonwealth. The grant agreement will include standard industry grant conditions, including reporting requirements and using grant monies only on eligible project expenditure.
Cobalt Blue's Chairman, Rob Biancardi said:
"The Broken Hill Cobalt Project has received a significant boost by being awarded $15m via the Australian Government's Critical Minerals Accelerator Initiative.
We applaud the Australian Government's support in assisting mid-stage critical minerals projects overcome the substantial technical, regulatory and financial barriers for the establishment of greenfield projects such as the BHCP.
This grant, in conjunction with the recent Major Project Status award, is further recognition of the strategic importance of the BHCP in delivering supply chain security and enhanced sovereign capacity in the high-tech minerals refining space, as well as significant capital investment and employment generation in regional Australia."
*To view full details, please visit:
https://abnnewswire.net/lnk/Y84J2C4X
About Cobalt Blue Holdings Limited
Cobalt Blue Holdings Ltd (ASX:COB) (FRA:COH) (OTCMKTS:CBBHF) has a strategic approach that positions us to be among the first wave of new entrants into the allied battery materials supply chain. We are committed to playing a leading role in securing a stable and sustainable future for critical minerals.
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