Sao Miguel refinery Victoria, Australia – TheNewswire – July 18, 2022 - Jervois Global Limited (“Jervois”) (ASX:JRV) (TSXV:JRV) (OTC:JRVMF) has now closed its previously announced acquisition from Companhia Brasileira de Alumnio (“CBA”) of 100% of the So Miguel Paulista nickel cobalt refinery (“SMP”) in So 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