Jervois Suspends final construction at ICO amid falling cobalt prices
- Jervois (JRV) suspends final construction at its Idaho Cobalt Operations (ICO) in the United States due to falling cobalt prices and inflationary pressures
- The company insists this is the appropriate measure to “prudently preserve” the value of ICO’s ore body
- According to Jer vois, ICO is the largest and highest-grade confirmed cobalt orebody in the US and, when commissioned, will represent the country’s only primary cobalt mine supply
- The company says its ICO work will recommence once cobalt prices rise again, which JRV expects over the medium term
- Shares in JRV are tumbling 28.7 per cent to 8.2 cents at 11:04 am AEDT
