InvestSMART

Cobalt Blue Holdings Limited (ASX:COB)

ALERT: Price-sensitive ASX Announcement for COB
Current share price for COB : $0.055 -0.01 (-15.38%)+
Announcement
Release
28 Sep 2026 10:03AM
Price at Release
$0.065
Full Release
download
Summary
Cobalt Blue Holdings Limited (ASX: COB) announced that it has entered into a contract with consortium partner Glomar Minerals LLC to contribute to a Preliminary Economic Analysis for Project Infinity, a planned US-based polymetallic nodule refinery intended to assess the technical and economic feasibility of processing polymetallic nodules and support project evaluation. Under the contract, Cobalt Blue will be paid US$150,000 to undertake key technical workstreams at its Broken Hill Technology Centre, including metallurgical development and flowsheet design to extract manganese, copper, nickel and cobalt using its proprietary hydrometallurgical technology, preliminary process plant design with capital and operating cost estimates to AACE Class V standard, and site layout and infrastructure assessment to support selection among four US sites currently under review; the PEA is targeted for completion in Q4 2026. The announcement states that the engagement is an important step in the companies’ existing consortium arrangement for Project Infinity, which aims to build and operate the first commercial polymetallic nodule refinery in the United States and aligns with US critical minerals supply chain objectives.
Key Points
  • Cobalt Blue has been contracted by Glomar Minerals LLC to undertake key technical work for a Preliminary Economic Analysis for Project Infinity.
  • Project Infinity is a planned US-based polymetallic nodule refinery and is intended to become the first commercial refinery of its kind in the United States.
  • The PEA will assess the technical and economic feasibility of processing polymetallic nodules.
  • Cobalt Blue’s scope includes metallurgical testwork and flowsheet development for manganese, copper, nickel and cobalt extraction.
  • The work also includes preliminary process plant design and capital and operating cost estimates to AACE Class V standard.
  • Cobalt Blue will support US site layout and infrastructure assessment, with four candidate sites under review.
  • The work will be undertaken using Cobalt Blue’s proprietary hydrometallurgical processing technology at the Broken Hill Technology Centre.
  • Cobalt Blue will receive US$150,000 under the contract.
  • The PEA is currently targeted for completion in Q4 2026.
  • The contract formalises initial work programs under the broader consortium agreement between Cobalt Blue and Glomar.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.