Australia’s Jervois Mining has announced the completion of an institutional placement and the institutional portion of a fully underwritten pro-rata accelerated non-renounceable entitle-ment offer which are to inject a total of A$313 million (US$230 million) into the company.
The latest development comes shortly after the Australian business declared its board approved the full construction and development of its 100 percent-owned Idaho cobalt operations in the U.S.
“Jervois expects to commence commercial concentrate production at ICO from mid-2022,” Jervois Mining said in a statement.
The miner says that the properties upon which the U.S. mine and mill are situated in the U.S. National Forest lands are managed by the United States Forest Service.
Jervois Mining describes itself as a leading cobalt company with sig-nificant nickel and copper exposure and other activities.