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Broken Hill, Cobalt Blue in dispute over Thackaringa JV

Mining News - Published on Thu, 15 Nov 2018

Image Source: Australian Mining
Australian Mining reported that Broken Hill Prospecting has issued a dispute notice to joint venture (JV) partner Cobalt Blue Holdings over the Thackaringa cobalt project near Broken Hill, New South Wales. The notice relates to Cobalt Blue drilling activities commencing “outside of the requisite approval processes set out in the Thackaringa joint venture”. Broken Hill believes these drilling activities were at “the sole risk and cost of [Cobalt Blue]”.

In a November 6 company release, however, Cobalt Blue said the drilling program undertaken at Thackaringa had been “unanimously approved” by a Thackaringa JV management committee resolution on August 28.

The resolution included the statement, “[Cobalt Blue] and [Broken Hill Prospecting] acknowledge and agree that the drilling campaign will be amended as required as the program progresses and develops.”

Under the JV terms set out between the two companies in March, Cobalt Blue has the right to earn up to 100 per cent of Thackaringa in four stages.

Source :

Posted By : Rabi Wangkhem on Thu, 15 Nov 2018
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