01 Oct Jervois Mining to acquire nickel and cobalt refinery in Brazil
Jervois Mining will buy a nickel and cobalt refinery in Brazil, as the Australian exploration firm looks to transform itself into a producer and refiner of battery metals for the electric vehicle (EV) sector.
The US$22.1 million deal will give Jervois access to the São Miguel Paulista refinery in São Paulo, which is currently owned by Companhia Brasileira de Alumínio – a fully-owned subsidiary of the industrial conglomerate Votorantim Group.
The São Miguel Paulista refinery has a production capacity of 25,000 tonnes per annum (tpa) nickel and 2,000tpa cobalt, but has been on care and maintenance since 2016. Jervois said it will launch a feasibility study for a restart once the acquisition is completed.
ASX-listed Jervois will refine cobalt concentrate from its Idaho facility in the US and is targeting first concentrate deliveries from mid-2022.
In August 2019, Jervois Mining started a drilling programme at its Idaho Cobalt Operations (ICO) near Salmon in the US. The company also acquired eCobalt Solutions last year, giving it ownership of the Idaho Cobalt Project.