Australia’s Cobalt Blue Holdings has secured a three-year extension to major project status for its Broken Hill cobalt project, in New South Wales.

The recognition by the commonwealth government provides the ASX-listed company with ongoing regulatory support for a project viewed as nationally significant owing to its contribution to strategic priorities, regional development, and economic growth.

“Major project status acknowledges the strategic significance of the Broken Hill cobalt project in the delivery of the Australian government’s A Future Made in Australia agenda, as well as the critical minerals strategy and the national battery strategy,” said Cobalt Blue CEO Andrew Tong.

“Obtaining a three-year extension to major project status for the Broken Hill cobalt project is an important enabler for our project development plans,” Tong added.

Originally granted major project status in March 2022, the Broken Hill development is gaining increasing attention as the demand for battery-grade cobalt continues to climb. The extension is expected to assist Cobalt Blue in progressing investment discussions with offshore and local partners, including its Japanese project partner Iwatani.

“The development of the Broken Hill cobalt project has the potential to position Australia as a leading global cobalt producer and strengthen supply chain security for like-minded partners. It also creates an opportunity for locally sourced feedstock to support the growth of new Australian downstream industries – an ambition we are actively pursuing through our Kwinana cobalt refinery and Broken Hill technology centre,” said Tong.

Iwatani welcomed the renewed government backing.

“Iwatani Australia welcomes this support from the Australian government, and it reinforces our decision to invest in Australia," said Iwatani Australia MD Naomasa Ueda, adding that it further strengthens the case for progressing the refinery toward a final investment decision.

The company has also indicated its intention to seek shareholder approval to change its name to Core Blue Minerals, as announced in February.