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Broken Hill, Cobalt Blue partner with LG International for Thackaringa cobalt JV

Broken Hill Prospecting Ltd. and Cobalt Blue Holdings Ltd. signed a strategic partnership with LG Corp. unit LG International for their Thackaringa cobalt joint venture in New South Wales, Australia.

LG International will provide capital and technical assistance for the Thackaringa project to make a high-purity, battery-grade cobalt sulfate, according to a March 23 release.

Meanwhile, Cobalt Blue executed a binding term sheet with LG International to raise US$6.0 million, at A$1.10 per share, by April 16.