Australian mining company Jervois Global has made the final investment decision (FID) to restart its 100% owned São Miguel Paulista (SMP) nickel-cobalt refinery in São Paulo, Brazil.
First production at SMP is expected in Q1 2024.
Jervois has added US$10 million contingency to the earlier US$55 million estimate to address the potential for capex escalation. This takes the total budgeted capital project funding to replace and refurbish plant and equipment at SMP, and restart the plant, to US$65 million.
SMP is within the São Paulo city limits with ready access to labour and services, 120 km from the largest container port in Brazil (Santos), ensuring it is well located to serve export markets. SMP previously produced ‘Tocantins’ nickel and cobalt products, which are well established domestically in Brazil and key Western export markets.