Jervois Global Ltd (JRV)

[douginil]

Jervois shortlists locations for Department of Defense funded BFS for U.S. cobalt refinery


- Jervois shortlists two locations, one in each of the states of Pennsylvania and Louisiana, for its Department of Defense (“DoD”) funded bankable feasibility study (”BFS”) for a United States cobalt refinery.

- Sites are being evaluated to determine the preferred location; commercial negotiations with the states of Pennsylvania and Louisiana are commencing.

- Completion of site selection is an important milestone in the progress of the basic engineering and accompanying BFS for a U.S. cobalt refinery, led by engineering firm AFRY USA LLC and is expected to be completed by mid-2024.

- BFS is key to Jervois’ previously announced application under the Department of Energy (“DOE”) Advanced Technology Vehicle Manufacturing Loan Program (the “ATVM Loan Program”) for a U.S. cobalt refinery.

- U.S. Cobalt refinery BFS is fully funded by the U.S. DoD Defense Production Act (“DPA”) Title III US$15 million funding agreement.

Jervois Global Limited (“Jervois” or the “Company”) (ASX: JRV) (TSX-V: JRV) (OTC: JRVMF) has short listed two preferred locations for its BFS for a United States-located cobalt refinery, led by AFRY USA LLC (“AFRY”). Jervois and its advisers have undertaken an extensive site selection process which has short-listed two existing industrial sites, one each in the states of Pennsylvania and Louisiana.

Jervois is now undertaking engineering, environmental and economic evaluations for both locations in advance of BFS completion, which is expected to be completed in mid-2024.

Jervois’ proposed U.S. cobalt refinery will produce cobalt sulphate, for use primarily in electric vehicle batteries, which is not produced in the U.S. today. Based on projected U.S. lithium ion battery chemistries, once operational the refinery is expected to be capable of supplying sufficient cobalt for about 1.2 million electric vehicles each year.