Cobalt Blue Holdings

What Cobalt Blue Holdings does

Cobalt Blue Holdings is an Australian publicly-listed (ASX: COB, OTC: CBBHF) mining and minerals processing company developing an integrated critical-minerals platform spanning resource development, downstream refining, and proprietary process technology. The portfolio comprises four core assets: the Kwinana Cobalt Refinery (KCR) — positioned as Australia's first cobalt refinery targeting battery-grade cobalt sulphate for lithium-ion batteries plus cobalt metal for defense and superalloy applications; the Broken Hill Cobalt Project (BHCP) — Australia's largest undeveloped primary cobalt resource with a JORC Mineral Resource of ~127 Mt at 867 ppm CoEq containing approximately 87 kt cobalt, 9.5 Mt sulphur and 17 kt nickel; the Halls Creek copper-silver-zinc project in Western Australia; and the Broken Hill Technology Centre (BHTC), an in-house R&D facility with over A$15M invested that supports bench-to-pilot scale testwork.

The company's central technology is a patented hydrometallurgical processing flowsheet developed by CEO and Managing Director Dr. Andrew Tong, demonstrating over 90% recovery rates for cobalt, nickel, and manganese from diverse feedstocks — including cobalt hydroxide, polymetallic nodules from the Clarion-Clipperton Zone, primary ore and recycled battery black mass. Proprietary solvent-extraction techniques deliver a smaller equipment footprint and lower capital intensity versus traditional methods. Cobalt Blue operates as a pre-revenue development-stage entity; near-term commercial income is generated from metallurgical testwork and engineering services (e.g., an A$100,000 contract with a tier-one international copper producer at BHTC), with primary product sales intended to commence once KCR reaches commercial operation. Non-binding Letters of Intent from buyers in the US, Japan and France cover approximately 70% of initial KCR production capacity.

Go-to-market combines enterprise field-sales targeting battery manufacturers, EV makers, defense contractors and advanced manufacturers with consortium-based partnerships for capital-intensive project execution. Strategic alliances include a feedstock supply agreement with Glencore (covering up to 50% of KCR requirements from DRC operations), co-location within Iwatani Australia's East Rockingham mineral processing facility, and a consortium with US-based Glomar Minerals to develop Project Infinity — a planned ~200,000 tpa polymetallic nodule processing facility in the United States. The company funds operations through institutional placements, small-dollar capital raises and a A$15M Australian government grant, reporting an A$5.6M cash balance at the end of the March 2026 quarter (~5.1 quarters of runway at current outgoings).

Name

Cobalt Blue Holdings

Legal name

Cobalt Blue Holdings Limited

Website

https://cobaltblueholdings.com

Company type

Public

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Cobalt Blue Holdings is an Australian critical-minerals processing company developing Australia's first cobalt refinery (Kwinana), the largest undeveloped primary cobalt resource (Broken Hill), and a US polymetallic nodule facility, using patented hydrometallurgical technology to produce battery-grade cobalt sulphate, cobalt metal, and recycled black-mass materials for battery manufacturers and defense customers.

Ownership category

akta.pro rank

Product category

Critical Minerals Processing

NAICS

Other Metal Ore Mining (212290), Nonferrous Metal (except Aluminum) Smelting and Refining (331410), Other Metal Ore Mining (21229)

SIC

Metal Mining (1000), Primary Smelting & Refining Of Nonferrous Metals (3330), Industrial Inorganic Chemicals (2810)

akta.pro primary industry

Cobalt Mining & Refining (IMAKAFAC)

akta.pro secondary industries

Battery-Grade Chemical Processing (LiOH/Li2CO3, Ni/Co Sulfates, Mn Sulfate) (IMAKAFAI), Exploration & Resource Development (Critical Minerals) (IMAKAFAL)

Keywords

• Cobalt processing
• Critical minerals refining
• Battery materials supply
• Hydrometallurgical processing
• Cobalt sulphate production

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Infrastructure, Technology or R&D, Personnel, Operations, Marketing or Sales, Supply Chain

Revenue model

1. Cobalt Sulphate Sales: Production and sale of battery-grade cobalt sulphate for lithium-ion batteries targeting the EV and energy storage markets. Stage 1 production target of 2,000 tonnes per annum of cobalt sulphate plus 1,000 tonnes per annum of cobalt alloy-grade metal.
2. Cobalt Metal Sales: Production of high-grade cobalt metal for defense and superalloys industries. Non-binding LOI from Hartree Partners for purchase of cobalt metal processed from black mass.
3. Technology Services: Near-term commercial opportunities through technical testwork, piloting and engineering services for Glomar Minerals and future partners under the Project Infinity consortium.
4. Battery Recycling Processing: Processing of recycled battery black mass as feedstock for Kwinana Cobalt Refinery, supporting Australia's circular economy framework and battery materials industry.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

Cobalt Blue Holdings is a mining and minerals processing company developing a vertically integrated critical minerals platform spanning cobalt resource development (Broken Hill Cobalt Project), mid-stream refining (Kwinana Cobalt Refinery producing battery-grade cobalt sulphate and cobalt metal), R&D (Broken Hill Technology Centre), and polymetallic nodule processing (Project Infinity consortium with Glomar Minerals in the US). The company utilizes proprietary patented hydrometallurgical processing technology to produce battery-grade cobalt sulphate for lithium-ion batteries, cobalt metal for defense and superalloys, and nickel metal, with Stage 1 production targets of 3,000 tonnes per annum cobalt sulphate and 500 tonnes per annum nickel metal.

Product overview

Cobalt Blue Holdings is a mining and minerals processing company developing an integrated critical minerals platform. The portfolio consists of four main projects: the Kwinana Cobalt Refinery (Australia's first cobalt refinery producing battery-grade cobalt sulphate and cobalt metal), the Broken Hill Cobalt Project (Australia's largest undeveloped primary cobalt resource), the Halls Creek copper-zinc-silver project, and the Broken Hill Technology Centre (R&D hub supporting proprietary processing). Additionally, Project Infinity is an emerging US-based polymetallic nodule processing facility developed in consortium with Glomar Minerals. The company utilizes proprietary patented hydrometallurgical processing technology to recover cobalt and other critical minerals from various feedstocks.

Differentiator

Problem solved

Functional benefit

Products and services

• Kwinana Cobalt Refinery Australia's first cobalt refinery producing battery-grade cobalt sulphate for lithium-ion batteries and cobalt metal for defence applications. Located at East Rockingham, Western Australia, with Stage 1 production targeting 3,000 tpa cobalt sulphate and 500 tpa nickel metal, with potential for 1,000 tpa of cobalt alloy-grade metal. Targeted at battery manufacturers and defense/aerospace sectors.
• Broken Hill Cobalt Project Australia's largest undeveloped primary cobalt resource at Broken Hill, NSW. Hosts JORC-compliant Mineral Resource of 126.5-127 Mt at 867 ppm CoEq containing approximately 87 kt cobalt, 9.5 Mt sulphur, and 17 kt nickel. Advancing permitting and feasibility studies toward development as a source of primary cobalt feedstock.
• Halls Creek Project Copper-silver-zinc project in the Halls Creek Orogen, Western Australia. Offers district-scale exploration upside with medium-term development potential, targeting development of Onedin and Sandiego deposits over a 10.5-year mine life. Halls Creek Project Scoping Study shows A$121M post-tax NPV with A$73M initial capital.
• Broken Hill Technology Centre World-class R&D facility for minerals processing technology with over A$15M invested. Enables bench-to-pilot scale testwork to accelerate project development, supporting proprietary processing technologies for cobalt and critical minerals. Offers metallurgical testwork, piloting, and engineering services to third parties.
• Project Infinity Polymetallic nodule processing facility in the United States being developed through a consortium with Glomar Minerals. Targets processing approximately 200,000 tonnes per annum of nodules from the Clarion Clipperton Zone, extracting manganese, cobalt, nickel, and copper. Cobalt Blue leads metallurgical testwork using proprietary hydrometallurgical processing technology.

Quantifiable outcome

• Kwinana Cobalt Refinery NPV uplift from A$90M to A$155M post-tax following project parameter re-evaluation
• +4 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Ten partnerships are on record, tiered flagship, core, supporting and minor.

• Glomar Minerals LLCflagshipStrategic or Co-development Partner · 30 March 2026Consortium agreement to advance Project Infinity - a polymetallic nodule processing facility in the United States. Cobalt Blue leads metallurgical testwork using proprietary hydrometallurgical processing technology. Facility to process approximately 200,000 tonnes per annum of nodules from Clarion-Clipperton Zone, extracting manganese, cobalt, nickel, and copper. Glomar provides licenses and offshore minerals extraction capabilities.
• Glencore International AGcoreStrategic or Co-development Partner · 29 May 2025Feedstock supply agreement for Australia's first cobalt sulphate refinery at Kwinana. Glencore to supply up to 50% of the refinery's cobalt hydroxide feedstock for three years from commencement of commercial operations, minimum 3,750 tonnes of cobalt hydroxide total. Feedstock sourced from Kamoto Copper Company and Mutanda Mining operations in DRC.
• Iwatani AustraliacoreStrategic or Co-development PartnerProject partner for Kwinana Cobalt Refinery. Host facility within their existing mineral processing facility at East Rockingham near Kwinana Bulk Terminal. Facility operates under modified license producing cobalt sulphate for batteries, cobalt metal for defense and superalloys, and nickel metal.
• EcobattsupportingStrategic or Co-development PartnerNon-binding MOU signed December 2024 for black mass recycling partnership. BHTC completed bench-scale testwork on black mass samples demonstrating successful extraction of cobalt, nickel and manganese. Partnership with one of largest battery recycling industry players.
• Hartree PartnerssupportingGTM or Marketing PartnerNon-binding LOI for potential purchase of cobalt metal from BHTC processed from black mass. One of world's leading merchant commodity firms.
• CSIROsupportingTechnology or IntegrationCo-development program to explore battery-grade graphite recovery from black mass. New CSIRO collaboration at Broken Hill Technology Centre supporting Australia's battery materials capability.
• University of Queensland - Sustainable Minerals InstitutesupportingTechnology or IntegrationCollaborative research project supporting critical minerals processing development. Part of broader academic partnership ecosystem.
• ARC Training Centre in Critical ResourcessupportingTechnology or IntegrationCollaborative project with academic training center focused on critical resources development.
• Legacy MineralsminorStrategic or Co-development PartnerMOU signed for access to Australian cobalt market. Strategy to encourage cobalt projects into production for processing at Kwinana Cobalt Refinery.
• Tier-One International Copper ProducersupportingTechnology or IntegrationA$100,000 testwork contract with a tier-one international copper producer for metallurgical testwork services at BHTC.

Scale indicators11 records

Recent moves6 records

Expansion highlights7 records

Emerging players

• Syrah Resources: Syrah operates the Vidalia active anode material facility in Louisiana processing natural graphite — a fellow ASX-listed developer building a US downstream critical minerals processing asset for the battery supply chain.
• EcoGraf: EcoGraf is an ASX-listed developer of battery anode material processing (EcoGraf HFfree purification) and is developing a TanzGraphite natural flake graphite operation — comparable as a small-cap Australian critical-minerals processing developer with downstream focus.
• The Metals Company (TMC): TMC is developing a polymetallic nodule collection project in the Clarion-Clipperton Zone. It is the most direct comparator to Project Infinity, sharing both the CCZ nodule resource and the same deep-sea-mining regulatory and ESG profile.

Broad incumbents

• IGO Limited: IGO is a major ASX-listed critical-minerals producer (nickel, cobalt, lithium via Tianqi JV, copper, gold). It is relevant as a larger Australian critical-minerals incumbent that also invests in midstream processing and battery-materials exposure.
• Allkem: Allkem (now merged into Arcadium Lithium) was an ASX-listed lithium-boron producer with downstream processing exposure. It is a relevant ASX-listed comparator for a small/mid-cap critical-minerals developer with project-finance and offtake dynamics similar to Cobalt Blue's Kwinana.
• Umicore: Umicore is a global materials technology and recycling group with major cobalt refining and battery materials operations. It serves as a benchmark for the Western midstream cobalt/refining space Cobalt Blue targets.
• Sumitomo Metal Mining: Sumitomo operates the Coral Bay and Taganito nickel/cobalt refineries in the Philippines and is a major battery-grade cobalt sulphate supplier. It is a comparable Japanese-aligned cobalt refiner serving the same downstream customer base Cobalt Blue targets with Kwinana.
• Heraeus: Heraeus is a global precious and technology-metals refiner with cobalt and nickel processing capability. It is relevant as an established Western refiner competing for the same battery-grade cobalt sulphate and metal offtake customers.

Direct peers

• Jervois Mining: Jervois Mining operates the São Miguel Paulista nickel-cobalt refinery in Brazil and is developing the Idaho Cobalt Operations in the US, making it a directly comparable midstream cobalt/nickel refiner and developer with similar Western-aligned supply-chain positioning.
• Australian Strategic Materials (ASM): ASM is building a metals refinery in Korea (Korean Metals Plant) producing critical minerals including cobalt and rare earths from Australian feedstock. It is a close analogue as an Australian-listed developer building a Western-aligned critical minerals refinery.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/cobaltbluetech

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds4 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cobalt Blue Holdings