(TheNewswire)
Highlights
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Jervois commencing BankableFeasibility Study (“BFS”) to expand its cobalt refinery capacityat Kokkola
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Jervois Finland, a 100% ownedsubsidiary of Jervois, has operated for more than 50 years producingcobalt chemicals and powders
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BFS scope will expand annual Jervoisrefinery capacity access from 6,250 metric tonnes to at least 12,250metric tonnes of refined cobalt, to meet growing globaldemand
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Kokkola expansion expected toincrease Jervois' participation in cobalt regeneration, with 10-15% ofcobalt inputs to be received as recycled units
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Advances Jervois’ strategy tobecome a globally significant supplier of cobalt products forbatteries and other industries
16 May, 2022 – TheNewswire - Australia - Jervois GlobalLimited (“ Jervois ” or the “ Company ”) (ASX:JRV)(TSXV:JRV) (OTC:JRVMF) announces it is commencing a BankableFeasibility Study (“ BFS ”) to expand production of refined cobaltat the Kokkola Industrial Park, Finland.
Jervois’ 100%-owned subsidiary, Jervois Finland, isa leading supplier of high quality cobalt-basedproducts , with advanced technologicalcapabilities, product quality and reliability, and a strong commitmentto high environmental and sustainability standards. Jervois Finlandhas more than 50 years’ experience in cobalt production at Kokkola,with a global customer base across rechargeable batteries, chemicals,catalysts, ceramics and powder metallurgy applications.
The BFS will assess the potential expansion of JervoisFinland’s production via construction of a new refinery that isproximite to the location of its current facilities in the KokkolaIndustrial Park. Expansion is expected to be the addition of aminimum of 6,000 metric tonnes of annual cobalt refining capacity, andwould be separate from Jervois’ existing commercial relationships. An expansion of refining capacity is expected to be available inconjunction with forecast expansion of cobalt demand for the secondhalf of this decade.
Expanding Jervois Finland’s production capacityadvances the Company’s strategy to become a globally significantsupplier of speciality chemicals and advanced manufactured cobaltproducts into battery and other industries, alongside development ofits Idaho Cobalt Operations (“ ICO ”) in the United States, which is due tocommence cobalt concentrate production in Q3 2022. Jervois has alsorecently announced the outcome of the BFS for the Stage 1 restart ofthe São Miguel Paulista (“ SMP ”) Nickel andCobalt refinery in Brazil, which Jervois is in the processing ofacquiring.
Jervois Finland’s flexible downstream platform inadvanced cobalt material production capacity represents a uniqueadvantage. The refinery will be physically connected to JervoisFinland’s existing advanced manufacturing plants, to allow greateroptimization of existing product line capacity at both the powder andchemical plants. Jervois Finland has finished product capacity of11,000 metric tonnes per annum of contained cobalt. Higher refinedproduction will lead to greater flexibility to adapt to end userdemands, and to continuously optimize product mix.
Jervois Finland’s existing ESG framework, includingresponsible sourcing, will cover the expanded refinery operations andinput requirements.
Kokkola’s proposed expansion will lead to Jervois’increased participation in circular “closed loop” recycling, wherecobalt material is used by customers and returned to Jervois Finlandfor regeneration. About 10-15% of the cobalt inputs are anticipatedto be received as recycled units, similar to the ratio currently beingprocessed in Jervois Finland’s existing operations.
Expansion timing will be determined under the BFS, butwill not require any near-term material financial investment forJervois. Technical partner selection processes in Finland areunderway, covering key workstreams such as flowsheet piloting, processengineering and environmental and other permitting.
Initial commercial discussions with both final productcustomers and refinery feed suppliers (including recyclers) are alsounderway.
On behalf of Jervois Global Limited,
Bryce Crocker, Chief Executive Officer
For further information, please contact:
Investors and analysts: James May Chief Financial Officer Jervois Global | 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 productionmix at Jervois Finland, the size of the proposed refinery, timing ofthe study completion, timing of future operations, potential recyclinginputs levels 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.
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