Jervois Weighing Joint Venture Options for Nico Young

Jervois Weighing Joint Venture Options for Nico Young

Jervois Mining expects to secure a joint-venture partner for its Nico Young nickel-cobalt project by the end of 2019.

Jervois Mining (ASX:JRV) has said it anticipates locking down a joint-venture (JV) partner for its Nico Young nickel-cobalt project in New South Wales by the end of the year.

In a conversation with Reuters, Jervois Chief Executive Bryce Crocker said the company is in discussions with a few different parties for a 20- to 40-percent JV agreement. The potential partners include miners, battery producers and equipment makers from Korea, China and Japan.

“We are pushing hard […] [but] we are not under pressure to do the deal tomorrow,” Crocker told the news outlet.

The company is currently working on a prefeasibility study for Nico Young; though its completion date had originally been docketed for Q3 2018, the miner said it should be released in the next few months.

With an inferred resource of 167.8 million tonnes at 0.59 percent nickel and 0.06 percent cobalt, Jervois has been hurriedly trying to develop Nico into what it calls a “core asset.” The company cites growing demand for nickel and cobalt as lithium-ion batteries become more prominent with the electric vehicle (EV) revolution as its reason for lasering its focus on Nico.

While Nico Young remains Jervois’ flagship asset, it’s one of many nickel-cobalt projects in Australia. Also on the list of miners eager to supply the EV market are Australian Mines (ASX:AUZ,OTCQB:AMSLF) with its Flemington and Sconi cobalt-scandium-nickel projects and Ardea Resources (ASX:ARL,OTC Pink:ARRRF) with its flagship Goongarrie nickel-cobalt asset.

In a recent conversation with the Investing News Network, CRU Group Principal Consultant Alex Laugharne explained that battery demand could be a major driver of nickel demand in the coming years, but said that it may take longer than market watchers realize.

“Batteries only account for about 4 percent of nickel demand at the moment, and I think at CRU we see that growing to 9 percent by 2023. But then, when you look further ahead, we’ve got sort of exponential growth, not only in the number of electric vehicles that are expected to be produced, but also in the nickel intensity of individual batteries,” Laugharne said.

“[That growth] will push batteries [towards] accounting for as much as almost a quarter of the entire nickel market maybe towards 2030, so it depends how far ahead you look.”

As of Wednesday (March 20), nickel was trading at US$13,190 per tonne on the London Metal Exchange, while cobalt was trading at US$29,000 per tonne.

Jervois’ share price dropped 2.22 percent by the end of trading on Thursday (March 21), closing at AU$0.22 on the ASX.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

Lodgement of Codrus Minerals Limited IPO Prospectus

Key Highlights:

Codrus Minerals Limited has lodged its IPO Prospectus with ASIC to raise a minimum of $5,000,000 and a maximum of $8,000,000.
• PAC Partners Securities Ltd and Westar Capital Limited appointed as Joint Lead Managers.
• Priority offer to eligible Blackstone shareholders up to 10,000,000 shares.
• Shannan Bamforth, experienced Exploration Geologist appointed as Managing Director.
• Highly prospective Gold IPO with the spin-out of the Western Australian gold assets, including the Silver Swan South Project, Red Gate Project and the Middle Creek Project
• The Bull Run project in Oregon USA, consisting of 90 claims in Baker County in Eastern Oregon, prospective for gold and has been mined since 1929.
• Blackstone to be a substantial shareholder of Codrus.

Keep reading... Show less

Appointment of Codrus Managing Director

Blackstone Minerals Limited (“Blackstone” or the “Company”) is pleased to announce the appointment of Shannan Bamforth as Managing Director of Codrus Minerals Limited (“Codrus”), the spin out of its non-core gold assets announced earlier this year (Refer to ASX announcement from 15 January 2021)

Mr Bamforth is a geologist with over 20 years’ experience in the resources industry with a focus on base metals and gold. He has worked in exploration, operations and corporate roles in Australia, Africa, China, and Indonesia. Mr Bamforth comes to Codrus from Sandfire Resources where he has been working in the role of General Manager Geology since 2010. Prior to this role he held various senior positions with a variety of companies including Regent Pacific Group, St Barbara Mines, AngloGold Ashanti, and Acacia Resources. He is a member of The Australian Institute of Mining and Metallurgy.

Keep reading... Show less

Blackstone Minerals Quarterly Report for the Period Ending 31 March 2021

Ta Khoa Nickel – Copper – PGE Project

Upstream Business Unit (UBU)

Keep reading... Show less

Graphite Metallurgical Test Work Update


  • Bulk sample of Springdale graphite concentrate estimated to be completed in Q2 2021.
  • Concentrate material will then be sent to Germany to test its amenability for the production of battery anode material suitable for use in EVs.
  • Final test results expected in Q3 2021.

Comet Resources Ltd (ASX:CRL) is pleased provide an update on ongoing test work on natural flake graphite from its Springdale Graphite Project (Springdale) located in Western Australia. Both excellent grade and recoveries were achieved on initial tests, leading to commencement of work to produce a bulk sample for further testing. Importantly, the graphite concentrates previously produced demonstrated a unique and potentially very valuable characteristic in its small size distribution, with two-thirds of the product passing the 38 µm size fraction screen. Generally, this small size fraction of graphite is a by-product of processing of larger flake fractions, which produces smaller size graphite, but in doing so also damages the smaller flake material in the process, reducing their performance and value. Deposits that contain high quality ultra-fine graphite are uncommon and are potentially suitable for supplying the expanding battery anode market, which continues to grow as the sales of electric vehicles (EVs) increase. Graphite suitable for battery anode production also achieves premium pricing in graphite markets, making it a highly sought-after product.

Keep reading... Show less

Rio Tinto reaches agreement with Turquoise Hill Resources on financing plan for Oyu Tolgoi

Rio Tinto has entered into a binding Heads of Agreement (HoA) with Turquoise Hill Resources (TRQ) for an updated funding plan (the “Funding Plan”) for the completion of the Oyu Tolgoi (OT) Underground Project in Mongolia. The Funding Plan addresses the estimated remaining known funding requirement of approximately $2.3 billion 1 , building on and replacing the arrangements established in the Memorandum of Understanding that Rio Tinto and TRQ previously entered into on 9 September, 2020.

Under the HoA, subject to securing approval by OT LLC and any required support from the Government of Mongolia, and subject to timing, availability, and terms and conditions being acceptable to both parties, Rio Tinto and TRQ will:

Keep reading... Show less

Top News

Related News