Australian battery metals miner Jervois Mining will acquire 100pc stakes in Votorantim SA’s Sao Miguel Paulista Nickel and Cobalt Refinery located in Sao Paulo, Brazil, the company said in a statement.
The refinery can produce 25,000mt of refined nickel and 2,000mt of refined cobalt annually and is under care and maintenance since 2016.
Jervois will purchase the refinery for BRL125mn ($22mn) from Votorantim’s Companhia Brasileira de Aluminio.
The company will refine its concentrate from Idaho Cobalt Operations (ICO) and return the metal to the US. The first ICO deliveries will reach in mid-2022. The feasibility study to restart the refinery will commence in Q4 2020.
Earlier, the refinery produced nickel and cobalt under brand name Tocantins. The company has a widespread distribution network in the US, Europe, and Japan.
($1 = BRL5.65613)