(Kitco News) - Battery metals producer and developer Jervois Global (TSX-V: JRV) announced yesterday it has entered into a raw material supply agreement with Traxys for the supply of mixed hydroxide product ("MHP") for the restart phase of the São Miguel Paulista ("SMP") nickel cobalt refinery in Brazil, which is expected to restart at the end of Q1 2024.
Jervois said that the supply agreement with Traxys is expected to provide a base load of MHP feed of up to approximately 25 per cent of SMP's annual nickel feed requirement over an initial period of 36 months.
The company added it is initially restarting SMP in a staged, capital efficient manner, below its prior 25,000 mtpa nickel capacity, basis the bankable feasibility study completed in April 2022. Expected initial refined production is 10,000 mtpa nickel and 2,000 mtpa cobalt metal cathode.
Jervois noted it remains engaged in ongoing discussions with other MHP suppliers for additional feed supply.
The company announced approval of its final investment decision on the SMP refinery in November 2022 and has commenced restart capital deployment.
Jervois is a vertically integrated cobalt development company developing a fully-integrated cobalt value chain, with significant nickel and copper exposure. The company has development stage assets, growth opportunities and exploration projects.
Traxys is a physical commodity trader and merchant in the metals and natural resources sectors with annual turnover of more than US$10 billion.
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