(MENAFN- ABN Newswire)
A Memorandum of Understanding (MOU) has been executed between both parties, providing additional scope for Cobalt Blue Limited (ASX:COB) (FRA:COH) (OTCMKTS:CBBHF) to re-commercialise pyrite feed streams and other waste deposits in Australia and around the world, addressing a massive opportunity contained in mine waste.
Cobalt Blue has developed and proven the capability of its patented minerals processing technology for treating pyrite. This process has demonstrated the economic recovery of cobalt and elemental sulphur from pyrite deposits.
Regeneration seeks to enable biodiversity, community, and production of climate positive minerals for the energy transition, green technologies, and sustainable brands through remining, reprocessing and restoration of old and existing mine sites. As a global social enterprise, Regeneration is establishing operations in several jurisdictions, including Australia. Rio Tinto is a first, catalytic investor in Regeneration, as well as a site and technology partner.
Cobalt Blue and Regeneration envision significant opportunities in utilising Cobalt Blue's technology and Regeneration's social benefit approach - with an emphasis on biodiversity and community value creation - to explore, identify, commercialise, and restore sites of mutual interest in Australia and around the world. Under the MOU, Cobalt Blue will be one of Regeneration's strategic and technology partners where identified roles, responsibilities and inter-relationships will be agreed upon by both parties on a site-by-site basis.
Cobalt Blue Holdings Ltd (ASX:COB ) (FRA:COH) (OTCMKTS:CBBHF) is an exploration and project development company. Work programs advancing the Broken Hill Cobalt Project in New South Wales continue. Our ambitious goals are subject to funding availability. Cobalt is a strategic metal in strong demand for new generation batteries, particularly lithium-ion batteries now being widely used in clean energy systems.
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Joe KaderavekChief Executive Officer...P: (02) 8287 0660
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