(Kitco News) - Jervois Global (TSX-V: JRV) informed today that the São Paulo City Hall operating permit for São Miguel Paulista (SMP) nickel and cobalt refinery in São Paulo, Brazil has now been received by Companhia Brasileira de Alumínio (CBA) in relation to the agreement by Jervois to acquire SMP from CBA.
Jervois announced the proposed acquisition of SMP nickel and cobalt refinery from CBA in 2020. SMP refinery had annual refined production capacity of 25,000 metric tonnes of nickel and 2,000 metric tonnes of cobalt.
In April 2022, Jervois completed a Bankable Feasibility Study for a Stage 1 restart at SMP, with forecast production of 10,000mpta and 2,000mpta of refined nickel and cobalt metal respectively.
Jervois expects to close its acquisition of SMP on or about 15 July 2022 and achieve first commercial production from the Stage 1 restart at SMP in 2023.
Jervois also owns the Idaho Cobalt Operations (ICO). ICO comprises the largest National Instrument 43-101 compliant cobalt Mineral Resource Estimate in the United States. Jervois is finalizing construction of ICO, which is on track to commence commercial production by the end of 2022.
According to the company's statement, once in production, ICO will be the only primary cobalt mine in the United States and will supply a critical metal necessary for electric vehicles, energy generation and distribution, defense and other industries.
In addition, Jervois acquired Freeport Cobalt (renamed Jervois Finland) in 2021. Jervois Finland is a Kokkola, Finland-based cobalt refining and specialty products business.
|
| Australian gold miner Gascoyne achieves annual production guidance |
