PERTH (miningweekly.com) – ASX- and TSX-V-listed Jervois Global has closed its R$125-million acquisition of the São Miguel Paulista nickel/cobalt refinery (SMP) in São Paulo, Brazil.
Jervois paid the initial R$15-million payment to vendor Companhia Brasileira de Alumínio (CBA) in late 2020 when the acquisition was announced and a further R$47.5-million on closing.
The remaining R$62.5-million will be paid on either the start of commercial production at SMP, or June 2023, whichever is earliest.
Jervois said on Monday that a technical and commercial team is currently working onsite at SMP undertaking detailed planning for the expected restart of SMP which is Latin America’s only electrolytic class 1 nickel and cobalt refinery.
The SMP will be used to treat cobalt concentrate from Jervois’ Idaho cobalt operations (ICO), in the US. First ore processing at the ICO is planned for the third quarter this year, after Jervois last year approved a $92.6-million capital spend for construction of the mine and process facility.