Two years ago, cobalt was on its way to becoming the mining industry’s next big thing. That all changed after a turbulent crash in market value. What’s next for the resource? Nickolas Zakharia finds out.
In a world of electronic vehicles, smartphones and laptops, the prominence of rechargeable lithium-ion batteries is becoming increasingly vital to our everyday way of life.
More than half of cobalt’s global supply is used for batteries. And while cobalt may not receive the same attention as lithium, it is a vital component for battery manufacturing. Cobalt Blue is one of the many ASX-listed Australian companies that recognises the importance of cobalt as a commodity.
The company’s sights are set on becoming a pioneer for Australia’s domestic battery industry through its Broken Hill cobalt project in New South Wales.
Broken Hill is designed to operate as both a cobalt mine and refinery that produces battery-ready cobalt sulphate, which will give the company significant advantages and control over its resource, according to Cobalt Blue chief executive Joe Kaderavek.
“We are working collaboratively via a three-year partnership with the Australian Government’s Future Battery Industries Project and major domestic lithium, nickel and manganese producers to assess whether Broken Hill cobalt can supply a future Australian battery industry,” Kaderavek tells Australian Mining.
“Australia produces roughly 4000 tonnes of cobalt per annum – around 3 per cent of global production – despite possessing over 16 per cent of the world’s cobalt resource…
(continued in full article from Australian Mining June 2020, available below.)