Cobalt Blue Holdings Limited: TetraTech Appointed as Refinery Engineer

Sydney, Australia - Cobalt Blue Holdings Ltd. (ASX:COB) (FRA:COH) (OTCMKTS:CBBHF) is pleased to announce that Tetra Tech has been selected for detailed engineering works for the Cobalt-Nickel Refinery in the Kwinana Industrial Area.

KEY POINTS

- Cobalt Blue has selected Tetra Tech for detailed engineering works for the Cobalt-Nickel Refinery in the Kwinana Industrial Area (the Refinery).

- Tetra Tech is a market leading, global provider of high-end consulting and engineering services and brings extensive knowledge to the Refinery project.

- Scope of the work includes detailed process plant design and construction participation.

Joe Kaderavek, CEO Cobalt Blue commented "We are excited to partner with Tetra Tech, a demonstrated leader in developing world-class resource projects. Appointment of an engineering firm is a significant project milestone of our journey in developing Australia's first cobalt sulphate refinery."

About Tetra Tech

Tetra Tech is a leading, global provider of high-end consulting and engineering services with wide-ranging engineering, procurement, and construction management (EPCM) experience. The company hosts 550 offices worldwide, with around 28,000 employees. Tetra Tech has extensive experience with complex hydrometallurgical plants and associated materials handling. Importantly, Tetra Tech has worked with Iwatani Australia (IWA) on a range of projects over the last 10 years and know the site and personnel well.

The company's technical expertise and previous experience is invaluable in bringing our Cobalt-Nickel Refinery project through the stages of concept and detailed design. Tetra Tech has significant experience in complex plant development, including, Iluka's Eneabba Project (Phase 2) and Arafura's SX Plant Detailed Design.

Refinery background

COB is currently developing the Cobalt-Nickel Refinery Project in the Kwinana Industrial Area located 30 km from the Perth metropolitan area in Western Australia. Iwatani has partnered with COB for the project and will be using the existing Doral Fused Material (DFM) site in East Rockingham WA near the Kwinana Bulk Terminal as the location for the refinery.

In November 2023, COB published the Cobalt-Nickel Refinery Study detailing a large-scale cobalt-nickel operation representing Australia's first cobalt refinery producing a high-quality, battery-grade cobalt sulphate. Our target markets are battery makers and electric vehicle manufacturers who will produce US Inflation Reduction Act (IRA) and EU Critical Raw Materials Act compliant products.

The Study presents a compelling evaluation of a cobalt and nickel refining business that is expected to generate stable margins throughout the highs and lows of the cobalt price cycle. The Refinery represents a significant step in diversifying global cobalt processing and is defined as follows:

- Initial plant capacity for 3,000 tpa cobalt (sold as cobalt sulphate) and 500 tpa nickel (sold as metal).

- Allowance in footprint for later expansion to larger capacity of 6,000 tpa cobalt and 1,000 tpa nickel.

We continue to progress the development of the Refinery and workstreams are on track for a decision in 2H 2024 to proceed to construction. Current activities include:

- Pilot testing of the process flowsheet at the COB Technology Development Centre in Broken Hill, NSW.

- Securing feed supply contracts, and offtake contracts.

- Progressing permitting studies and application documents.

- Completing process engineering documentation.

- Establishing joint-venture arrangements with Iwatani Australia.

- Seeking financial support for the project.

To view the full announcement with indicative timetable, please visit:
https://abnnewswire.net/lnk/3SZ4K8J6

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.

Source:
Cobalt Blue Holdings Limited

Contact:

Joe Kaderavek Chief Executive Officer info@cobaltblueholdings.com P: (02) 8287 0660