- Cobalt Blue (COB) signs an memorandum of understanding (MoU) agreement with the Queensland Department of Resources
- The agreement will see the parties assess opportunties for the recovery of cobalt from mine waste
- Under the agreement, Cobalt will undertake testwork to evaluate minerals processing options
- On the market this morning, Cobalt is in the grey and trading at 37.5 cents per share
Cobalt Blue (COB) has signed a memorandum of understanding (MoU) agreement with the Queensland Department of Resources.
In November 2019, the state government announced a $13 million funding package to advance the discovery and development of ‘new economy minerals’ within Queensland.
The New Economy Minerals Initiative considers a number of targeted projects, including a Secondary Prospectivity Project examining the potential of mine waste for critical minerals, conducted in collaboration with researchers from The University of Queensland.
For collaboration for this project, Cobalt has signed an MoU with the Queensland Government to assess opportunities for the recovery of cobalt from mine waste.
Under the agreement, Cobalt will undertake testwork to evaluate minerals processing options, including the application of its own minerals processing technology to recover targeted metals.
Commenting on the agreement is Cobalt CEO Joe Kaderavek.
“The MoU with the Queensland Department of Resources is an important step forward for COB’s Waste Streams Project and for Queensland’s “The New Economy Minerals Initiative,” he said.
“COB looks forward to working with the Department of Resources and The University of Queensland on this important initiative.”
On the market this morning, Cobalt was in the grey and trading at 37.5 cents per share at 11:30 am AEDT.