Jervois Global acquires Brazilian nickel, cobalt refinery
Jervois Global concluded the 125mn-real (US$24mn) acquisition of the São Miguel Paulista (SMP) nickel and cobalt refinery in São Paulo state from Companhia Brasileira de Alumínio.
"Jervois paid the initial 15mn reais payment in late 2020 when the acquisition was publicly announced and a further 47.5mn on closing in accordance with the previously announced terms of the purchase agreement. The remaining 62.5mn reais is to be paid on the earlier to occur of commencement of commercial production at SMP and June 2023, per the purchase agreement," Jervois said in a statement.
A Jervois technical team is undertaking detailed planning onsite for the restart of SMP, which is Latin America’s only electrolytic class 1 nickel and cobalt refinery.
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