Jervois Mining acquired 100% of the São Miguel Paulista nickel and cobalt refinery (“SMP Refinery”) in São Paulo, Brazil from Companhia Brasileira de Alumínio (“CBA”) (an investee company of Votorantim). This aims to transform Jervois into a vertically integrated producer, capable of supplying refined nickel and cobalt products to customers across a range of industries including specialty stainless steels, nickel and cobalt superalloys, cathode precursor, lithium ion battery and electric vehicles manufacturers.
Jervois completed a Bankable Feasibility Study (BFS) for a Stage 1 restart at SMP in April 2022, with forecast production of 10,000 metric tonnes per annum and 2,000mpta of refined nickel and cobalt metal respectively. A Stage 2 BFS regarding return to full 25,000mpta refined nickel production capacity is due for release by the end of 2022.
Restarting the only electrolytic nickel-cobalt refinery in South and Latin America will deliver significant local and regional economic and social benefits to the São Miguel Paulista area. First commercial production from SMP’s Stage 1 restart is expected in 2023.