Name of the Project
Idaho Cobalt Operations (ICO).

Location
Idaho, in the US.

Project Owner/s
Jervois Global.

Project Description
The project was partially constructed when Jervois acquired it in July 2019, with more than $120-million invested by the previous owners since the discovery of the cobalt deposit.

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.

The operation will comprise a 1 200 t/d mill and concentrator to produce separated cobalt and copper concentrates.

Gold mineralisation in the reserve at ICO will be recovered at the São Miguel Paulista refinery, in Brazil, subject to Jervois’ completing the acquisition and restart of the refinery in stages during 2022 and 2023.

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 about 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
$107.5-million.

Planned Start/End Date
In January 2023, Jervois announced that first commercial concentrate production was now expected at the end of the first quarter 2023 and that it expected to ramp up to full nameplate capacity in the second quarter of 2023.

Latest Developments
Jervois Global is targeting the full concentrator commissioning at its ICO in April, with copper and cobalt concentrates expected early in the second quarter of 2023, slightly later than previously expected.

The commissioning of the process water system for the mill has been successfully completed, and underground stoping activities have started at the mine, with more than 25 000 t of mineralised material stored for processing.

However, ongoing labour shortages for qualified electricians have delayed construction progress at the concentrator, with initial ore conversion into concentrate product now expected early in the second quarter.

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

Contact Details for Project Information
Jervois Global, tel +61 (03) 9583 0498 or email contact@jervoisglobal.com.