Jervois Global Ltd (JRV)

[douginil]

Jervois Closes its São Miguel Paulista Refinery Acquisition

Jervois Global Limited (“Jervois”) (ASX: JRV) (TSX-V: JRV) (OTCQX: JRVMF) has now closed its previously announced acquisition from Companhia Brasileira de Alumínio (“CBA”) of 100% of the São Miguel Paulista nickel cobalt refinery (“SMP”) in São Paulo, Brazil. Total consideration to be paid for the acquisition is R$125 million in cash. Jervois paid the initial R$15 million payment in late 2020 when the acquisition was publicly announced and a further R$47.5 million on closing in accordance with the previously announced terms of the purchase agreement. The remaining R$62.5 million is to be paid on the earlier to occur of commencement of commercial production at SMP and June 2023, per the purchase agreement.

A Jervois technical and commercial team is currently working onsite at SMP undertaking detailed planning for the expected restart of SMP which is Latin America’s only electrolytic class 1 nickel and cobalt refinery

For link to the full PR goto:
https://mailchi.mp/a03debd9c497/engineering-contracts-for-ico-and-smp-nickel-cobalt-refinery-15037301?e=48b5acd3da