Cobalt Blue Holdings (ASX:COB) is pleased to announce that it has entered into an agreement with Mitsubishi Corporation for market evaluation of elemental sulphur.
- COB is aiming to be a long-term supplier of elemental sulphur (>15 years @ 300,000 t/yr).
- This early stage trial product agreement between COB and Mitsubishi Corporation represents a development milestone towards potential future offtake arrangements for elemental sulphur.
Australia’s annual consumption of sulphuric acid is over ~5m tpa, supported by importing over 1m tpa of elemental sulphur. Strong demand growth is forecast over the next decade from both fertiliser and metallurgical demand. The elemental sulphur imported into Australia is principally sourced from Vancouver and COB is looking to partially displace this supply.