(TheNewswire)
Australia - TheNewswire - February 10, 2023 - Jervois Global Limited (“ Jervois ”) (ASX:JRV)(TSX-V:JRV) (OTC:JRVMF) announces JervoisSwitzerland, the commercial arm of Jervois, has entered into a rawmaterial supply agreement with Traxys Europe S.A. (“ Traxys ”) for thesupply of mixed hydroxide product (“ MHP ”) for therestart phase of the São Miguel Paulista (“ SMP ”) nickel cobaltrefinery in Brazil, which is expected to restart at the end of Q12024.
Highlights
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Traxys Europe S.A. intends to providemixed hydroxide product (“MHP”) for Jervois’ São MiguelPaulista (“SMP”) refinery, Brazil
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Traxys intends to provide up to 25%of MHP feed for Jervois’ initial annual nickel feed requirement atSMP over the first three years of restarted operations
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Traxys is a leading global metals andnatural resources trader and merchant with annual turnover of morethan US$10 billion
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SMP is expected to restart productionat the end of Q1 2024, with initial production forecast of 10,000metric tonnes per annum (“mtpa”) of nickel and 2,000 mtpacobalt
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Jervois continues to negotiateadditional refinery feed sourcing arrangements for SMP
Jervois supply agreement with Traxys is expected toprovide a base load of MHP feed of up to approximately 25 per cent ofSMP’s annual nickel feed requirement over an initial period of 36months. Jervois is initially restarting SMP in a staged, capitalefficient manner, below its prior 25,000 mtpa nickel capacity, basisthe Bankable Feasibility Study (“ BFS ”) completed inApril 2022. Expected initial refined production is 10,000 mtpanickel and 2,000 mtpa cobalt metal cathode.
Jervois remains engaged in ongoing discussions withother MHP suppliers for additional feed supply.
Jervois announced approval of its final investmentdecision on the SMP refinery in November 2022 and has commencedrestart capital deployment.
About Traxys
Traxys is a physical commodity trader and merchant inthe metals and natural resources sectors. Its logistics, marketing,distribution, supply chain management, and trading activities areconducted by over 450 employees in over 20 offices worldwide, and itsannual turnover is more than US$10 billion. Headquartered inLuxembourg, Traxys is engaged in sourcing, trading, marketing, anddistributing non-ferrous metals, ferro-alloys, minerals, industrialraw materials, and energy. The Group serves a broad base ofindustrial customers and offers a full range of commercial andfinancial services. Traxys is committed to the highestinternationally recognized principles for responsible businessconduct, and to ensuring that its operations are equitable,sustainable, and transparent. Traxys premises its practices onenvironmental, social, and governance (“ ESG ”) standardsthat enable Traxys to set a leading example for the responsiblesourcing and trading of metals and minerals.
On behalf of Jervois Global Limited
Bryce Crocker, CEO
For further information, please contact:
Investors and analysts: James May Chief Financial Officer Jervois | Media: Nathan Ryan NWR Communications nathan.ryan@nwrcommunications.com.au Mob: +61 420 582 887 |
Forward-LookingStatements
This news release may containcertain “Forward-Looking Statements” within the meaning of theUnited States Private Securities Litigation Reform Act of 1995 andapplicable Canadian securities laws. When used in this news release,the words “anticipate”, “believe”, “estimate”,“expect”, “target, “plan”, “forecast”, “may”,“schedule”, “expected” and other similar words or expressionsidentify forward-looking statements or information. Theseforward-looking statements or information may relate to the volume andtiming for supply of raw material to SMP refinery, the timing ofrestart of SMP refinery and certain other factors or information. Suchstatements represent Jervois’ current views with respect to futureevents and are necessarily based upon a number of assumptions andestimates that, while considered reasonable by Jervois, are inherentlysubject to significant business, economic, competitive, political andsocial risks, contingencies and uncertainties. Many factors, bothknown and unknown, could cause results, performance or achievements tobe materially different from the results, performance or achievementsthat are or may be expressed or implied by such forward-lookingstatements. Jervois does not intend, and does not assume anyobligation, to update these forward-looking statements or informationto reflect changes in assumptions or changes in circumstances or anyother events affections such statements and information other than asrequired by applicable laws, rules and regulations.
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in policies ofthe TSX Venture Exchange) accepts responsibility for the adequacy oraccuracy of this release.
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