Jervois eyes greenfield cobalt refinery in the US
Jervois earlier suspended construction at its Idaho Cobalt Operations, in the US, owing to depressed prices and inflationary impacts on construction costs.
PERTH (miningweekly.com) – Triple listed Jervois Global has started a bankable feasibility study (BFS) into a new greenfield cobalt refinery in the US.
The BFS will be focused on a 6 000 t/y operation that will process cobalt in sulphate form for use in the US auto industry. Refinery feed is expected to be based on approximately 20% recycled cobalt, largely in “closed loop” recycling whereby cobalt material used by customers is returned to Jervois for reprocessing.
The company told shareholders on Tuesday that the costs of the BFS, including for engineering, would be fully reimbursed by the US government under the $15-million funding agreement with the Department of Defence.
Site selection for a US refinery is continuing, and Jervois is expecting the BFS to be completed upon a final location decision.
The site selection will consider technical, operational, environmental and safety parameters to underpin the long-term competitiveness of a US-located cobalt refinery, together with US government investment frameworks and incentives at the local, state and federal levels.
Jervois earlier this year suspended construction at its Idaho Cobalt Operations (ICO) in the US, owing to falling cobalt prices and inflationary impacts on construction costs in the US, telling shareholders that not mining ICO cobalt at cyclically low prices would preserve the optionality and inherent strategic value of ICO for shareholders and key stakeholders.
The miner recently said that it would only consider restarting the construction of ICO if the cobalt price reached above $25/lb.
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