Name of the Project
Idaho cobalt operation (ICO).

Location
Idaho, in the US.

Project Owner/s
Jervois Mining.

Project Description
An updated bankable feasibility study (BFS) has confirmed the potential of ICO to establish a near-term, low-cost cobalt/copper/cobalt mine, with significant opportunity to increase the mineral resource and extend mine reserves once mining starts.

The BFS is based on extracting 2.5-million metric tons of ore at an average grade of 0.55% cobalt, 0.80% copper and 0.64 g/t gold. Based on a processing rate of 1 200 t/d, the project could produce 1 915 t/y of cobalt, 2 900 t/y of copper and 6 700 oz/y of gold in concentrate over a seven-year life-of-mine.

Jervois has also completed engineering design and costing, flowsheets to produce separate cobalt and copper concentrates, and calcined cobalt concentrate as part of the BFS.

Potential Job Creation
The project is expected to create some 200 construction jobs and 180 operational positions once the site transitions to commercial production.

Net Present Value/Internal Rate of Return
The project has a real post-tax net present value, at an 8% discount rate, of $95.7-million and an internal rate of return of 40.6%.

Capital Expenditure
The project is expected to cost $78.4-million to produce a bulk concentrate.

Planned Start/End Date
First production from ICO was still expected from mid-2022.

Latest Developments
Jervois Mining has approved the $78.4-million construction of the ICO, following the successful pricing of a $100-million bonds offering.

Early site works are well under way at the project, with full construction scheduled for September.

Key Contracts, Suppliers and Consultants
DRA Global and M3 Engineering (BFS).

Contact Details for Project Information
NWR Communications, Nathan Ryan, on behalf of Jervois Mining, tel +61 420 582 887.