Cobalt Blue Holdings Ltd. and CuDeco Ltd. entered into a memorandum of understanding to investigate cobalt recovery potential at the latter's Rocklands copper mine in Queensland, Australia.
The companies aim to determine if the cobalt-pyrite at Rocklands can produce cobalt products and create additional revenue, according to a Sept. 11 press release.
Cobalt Blue identified a processing path demonstrating strong recoveries of cobalt from the cobalt-pyrite mineral resources at the Thackaringa project in its positive metallurgical work to-date. CuDeco will ascertain if the same process can unlock economic value for the cobalt-pyrite concentrate produced from its Rocklands project. CuDeco will provide Cobalt Blue with cobalt-pyrite samples.
The companies will discuss possible cooperation or joint venture opportunities once the test results are in.