.Jervois_Global has taken an investment decision in Brazil, and launched a A$231million capital raise finance funding nickel cobalt refinery CriticalMinerals mining
PERTH – Triple listed Jervois Global has taken a final investment decision on the restart of its São Miguel Paulista nickel cobalt refinery in São Paulo, Brazil, while launching a A$231-million equity raise.
While not part of the restart, over time, Jervois will target the historic nameplate SMP capacity of 25 000 t/y nickel via debottlenecking, including further investment.Meanwhile, Jervois on Thursday also announced a A$231-million capital raise, consisting of a A$113-million institutional placement and an A$118-million 1-for-5.42 accelerated pro-rata non-renounceable entitlement offer.
The company’s largest investor, AustralianSuper, has agreed to invest up to A$55.6-million to participate in up to 24% of the equity raising, including its full institutional offer entitlement, while its third-largest shareholder, Mercuria, will invest A$16.2-million. The equity raising provides a fully funded, derisked restart model that is the simplest and lowest capital pathway to SMP production, Jervois told shareholders, adding that the equity raise was the preferred funding pathway as it ensured the company maintained a balanced capital structure.
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