Cobalt Blue is looking to Iwatani Corporation as a potential partner to develop the Broken Hill cobalt project.
A Japanese multinational company specialising in the production and trading of commodities, Iwantani Corporation has a large trading arm that procures lithium, cobalt, manganese and other raw materials.
The two parties have executed a non-binding heads of agreement and will endeavour to enter into binding agreements on or before April 30, 2026.
“Iwatani Australia is pleased to further engage with Cobalt Blue to develop the Broken Hill cobalt project,” Iwatani Australia managing director Kan Ueda said.
“We see strategic value in developing a large-scale cobalt mine and integrating this feedstock into the Kwinana refinery project.”
Cobalt Blue chief executive officer Joe Kaderavek said the company is excited about the potential partnership.
“We share a common view of Australia as a supplier to the global battery industry and look forward to developing both projects with Iwatani,” he said.
The Broken Hill cobalt project is located approximately 25km southwest of Broken Hill in New South Wales. Cobalt Blue is aiming for the project to be one of the largest cobalt producers in the world.
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