Posted on 04 Dec 2023
Australia-listed Cobalt Blue is welcoming Japanese commodity trader Iwatani Corporation as its partner in the development of the proposed cobalt-nickel refinery in Kwinana, Australia.
The partner selection follows a recent visit by Iwatani’s senior executives to the demonstration plant in the company’s Broken Hill cobalt project, in New South Wales, However, it remains subject to the parties reaching a binding agreement, Kallanish understands.
“Itawani Corporation is currently considering proposing an appropriate level of equity ownership in the refinery project via a funding contribution,” the Australian firm says in a statement.
Cobalt Blue notes that Iwatani has a large trading arm looking to supply their Japanese partners in major global EV markets, including the US. Through a subsidiary in Australia, Iwatani also owns a “suitable property” in the Kwinana district that would support the operation of the refinery, Cobalt Blue adds. The firm believes partnering with Iwatani would “significally reduce development time for the refinery.”
The demo plant has a nominal production capacity rate of 200 kg/day of cobalt/nickel equivalent. It is now producing samples for qualification by potential customers, using third-party feedstock.
A final investment decision on the proposed refinery is expected in mid-2024. The project is planned to process 8,000 t/y of third-party feedstock into 3,000 t/y of cobalt and 1,000 t/y of nickel products in Phase 1. It will start processing Broken Hill feedstock in stage 2, adding the production 3,500 t/y of cobalt and 800 t/y of nickel. Once fully complete, the refinery would have capacity to process 19,500 t/y of feedstock, producing 6,500 t/y of cobalt and 1,800 t/y of nickel.
The cobalt and nickel sulphate from Broken Hill will target precursor cathode active materials (pCAM) demand in Europe and the US.
Source:Kallanish
