Proactive Investors reports on COB’s plans to source ethical cobalt from an emerging Australian mine. The ethical supply of cobalt to meet the growing global need for the tech-metal is an increasingly important factor.
“Cobalt Blue Holdings Ltd (ASX:COB) (OTCMKTS:CBBHF) (FRA:COH) is developing the Broken Hill Cobalt Project (BHCP) in far west New South Wales as an exciting new advance for ethical investment and a positive environmental and principled supply solution for cobalt, a metal integral to the world’s sustainable future.
The company’s consulting geologist Dr Ian Pringle explains why the BHCP will be a game-changer in this regard for the cobalt industry.
Our expanding digital and electronic society is infected by the misery of thousands of children labouring as slaves at cobalt mines in the Democratic Republic of the Congo (DRC), a central African nation where mining (mostly copper and cobalt) contributes 95% of export revenue.
Cobalt and copper compounds are used in almost every lithium-ion rechargeable device on the planet from smartphones to tablets to laptops to electric vehicles.
Cobalt is extensively used in super alloys, vital for almost all high-temperature and extreme pressure applications – in particular, wind power generation, aeronautical and travel industries.
An ethical solution
Australia’s Broken Hill Cobalt Project offers a secure, transparent and ethical source for cobalt supply. Importantly, when it is completed in the next few years, the BHCP will be very different from the cobalt mines in the DRC. The project will use proprietary extraction processes to extract cobalt from pyrite.
Owner of the BHCP, Cobalt Blue Holdings, is planning to produce around 4,000 tonnes of battery-ready cobalt each year over a project life of more than 20 years.
The BHCP is being developed with a sustainability focus – as a small mine with a restricted environmental footprint. It is one of the largest cobalt projects outside Africa and as a primary cobalt producer, it will have no peers. Located beside road and rail, 25 kilometres from Broken Hill, the BHCP can source experienced local workers and well-equipped mining services.
By using modern, worker-friendly practises, electrified mine vehicles and eco-friendly processing, the BHCP will supply cobalt compounds without employing the corrupt and inhumane conditions or the environmental contamination typical of many artisanal cobalt mines in the DRC.”
This is an extract fron the article hosted on Proactive Investors. To read the full article, visit: https://www.proactiveinvestors.com.au/companies/news/934711/cobalt-blue-to-source-ethical-cobalt-from-an-emerging-australian-mine-934711.html