Jervois Finland produces 2,420 metric tonnes of battery metals products
Battery metals producer and developer Jervois Global has reported that in H122, Jervois Finland produced 2,420 metric tonnes of battery metals products. The company said that the Jervois Finland business achieved revenue during the period of US$196.3 million, a 60% increase over the corresponding prior period. This revenue was generated via cobalt sales volumes of 2,585 metric tonnes.
The total profit after tax of the consolidated entity attributable to the owners of the parent entity for the half-year ended 30 June 2022 was US$2.9 million (30 June 2021: loss of US$9.1 million).
The principal activities of the company during the period were cobalt refining, advanced chemical and powder manufacturing and associated commercial activities including product sales, in combination with mine construction and undertaking a refinery feasibility study.
During the period, the company focused on the ongoing operations at Jervois Finland, construction and underground mining of the Idaho Cobalt Operations (ICO) in the United States, and the completion and publication of the Stage 1 bankable feasibility study (BFS) at the São Miguel Paulista nickel and cobalt refinery (SMP) in São Paulo, Brazil.
Importantly, Jervois said it continued to progress construction at ICO near Salmon, Idaho, and is on track to commence commissioning in September 2022 with first ore through the mill in October 2022. Sustainable, full rate ore processing is expected in early 2023.
Jervois also completed a BFS for the SMP Refinery in Brazil with initial Stage 1 forecast production of 10,000mpta and 2,000mpta of refined nickel and cobalt metal cathode, respectively.
The BFS estimated a Net Present Value of US$228 million pre-tax or US$141 million post-tax at a 8% discount and an Internal Rate of Return of 47% pre-tax or 35% post-tax, with a total project capital cost of US$55 million to completely refurbish the existing brownfield nickel and cobalt refinery.
Jervois is a vertically integrated cobalt development company developing a fully-integrated cobalt value chain, with significant nickel and copper exposure. The company has strong development stage assets, growth opportunities and exploration projects.
