Jervois Global Limited (ASX: JRV | TSXV: JRV | OTC: JRVMF) has announced its wholly-owned subsidiary, Jervois Finland, has been awarded €12M in reimbursable cash funding from Business Finland, a Finnish State development body.
Jervois expects the grant will allow Jervois to evaluate restarting work on the bankable feasibility study (BFS) for a cobalt refinery expansion at the Kokkola Industrial Park (KIP).
The work was paused in April 2023 in favour of a BFS for a new cobalt refinery located in the US to be fully funded by the US Department of Defense.
Jervois expects its BFS for a US cobalt refinery will share a flow sheet with the BFS for a Finland cobalt refinery expansion, creating synergies and timeline benefits to the US project.
The company expects its Department of Defense funded BFS for US cobalt refinery will continue independently of any future work on a BFS for a Finland cobalt refinery expansion.
Further, the award relates to Jervois’ environmental, social, and governance (ESG) strategies for the facility, namely for an intention to exceed the European Union’s environmental protection standards, and to reinforce Jervois continues to evaluate cobalt refinery investments in both the US and Finland.
Jervois expects to progress these projects in circumstances where project economics are demonstrated to be robust, and where third-party financing is available for advancement of studies and construction.
To find out more, please visit www.jervoisglobal.com
