The 283rd Sydney Mining Club – Leading Edge Event
at 5.15 pm on 2 November 2023 at the Establishment Ballroom
‘Explorers and Developers for the Energy Transition’ – Cobalt, direct reduceable iron and nickel plus gold
Sydney Mining Club Presents the Managing Director of Cobalt Blue Holdings – Joe Kaderavek, the Managing Director of Akora Resources – Paul Bibby and the Managing Director of Resources & Energy Group – Dan Moore.
Cobalt Blue Holdings (ASX: COB)
Joe Kaderavek, Managing Director
At 5.15 pm on the 2nd November at The Establishment, Joe Kaderavek will update club members on the progress towards COBALT BLUE HOLDINGS (COB) Definitive Feasibility Study.
As is commonly known, most of the world’s cobalt (Co) is mined in the DR of Congo and smelted and refined in China. This makes the supply chain risky for western world consumers, especially EV manufacturers.
Co has become a premium product for high end EVs. By 2030, 53% of demand will be from like-minded countries to Australia (Allied Nations), mainly for EVs.
Demand is forecast to grow by more than 9% per annum through to 2030 compared with supply at 6%. This should ensure a positive price outlook.
Cobalt Blue is working on three streams simultaneously but sequenced for capital efficiency:
- Co refinery in Battery Alley, Kwinana
- Broken Hill project
- Co in waste streams
The outcome intended is a world scale refinery with the ability to double production.
COB has not taken any short cuts in its approach to development. It has built a large demonstration plant in Broken Hill, which has processed 4 200t of underground mined ore to produce 680t of pyrite concentrate. The concentrate has been converted all the way through to nickel and cobalt oxides on site.
Shortly, the refinery part of the circuit will be upgraded to 1:50 scale for third party testing on a confidential basis.
COB has submitted applications for MLs at Broken Hill. A resource update for Broken Hill is due in November 2023.
Australian, Qld and NSW governments are assisting COB for its waste stream processing. COB is also working with HudBay Minerals to assess the usefulness of its technology for tailings processing at Flin Flon for recovery of Au, Ag, Cu, Zn, Co and S.
Akora Resources (ASX: AKO)
Paul Bibby, Managing Director
A supply of directly reduceable iron is a focus of steel makers worldwide to reduce their carbon dioxide emissions from coking coal. AKORA RESOURCES (AKO) may be a contender.
AKO has two main projects in Madagascar in high grade iron ore. Bekisopa and the undrilled Satrokala.
Underlying the DSO is 190 Mt of iron ore upgradeable to 67% Fe concentrate at a 75um grind. A 35 Mt subset of this resource can produce a highly desirable 70 % Fe concentrate.
But wait there’s more! Satrokala is a 10 km magnetic anomaly undrilled.
Bekisopa is realising a scoping study at the end of October, looking at two different DSO options. Club members have an early look at its results.
Resources & Energy Group (ASX: REZ)
Dan Moore, Managing Director
RESOURCES & ENERGY GROUP (REZ) is an emerging nickel and gold explorer in the Menzies district of WA.
Gigante Grande was identified by RGC in the 1990s. REZ has shown it to be a lower grade but potentially large gold system.
MLs exist on the Menzies ground. REZ has, and is planning to continue, mining small high-grade deposits to fund its exploration.
The Menzies ground also contains the Springfield Ni/Co occurrence where REZ is looking for komatiite-hosted orebodies.
Not to be missed!