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Jervois: Suspends final construction at ICO amid falling cobalt prices

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

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