U.S. Dept of Defense signs deal to boost cobalt supply chains

Jervois Global

16/06/2023 24:08

(Repeats to add story keyword used by media customers)
       June 15 (Reuters) - The U.S. Department of Defense (DoD)
has entered into a $15 million agreement with the U.S. unit of
Australian miner Jervois Global Ltd  JRV.AX  to conduct
feasibility studies on expanding cobalt extraction in Idaho, to
decrease reliance on overseas mineral sources. 
    The agreement will enable Jervois Mining USA to undertake
mineral resource drilling to expand currently known cobalt
resources at its Idaho Cobalt Operations (ICO) and the adjacent
Sunrise deposit. 
    The deal also allows Jervois to undertake studies to assess
the feasibility of a domestic U.S. cobalt refinery.
    Cobalt is used by the DoD in high-capacity batteries for
military and commercial electric vehicles.
    The deal with Jervois Mining USA was finalised by the U.S.
office of the assistant secretary for industrial base policy,
the principal adviser to the undersecretary of defense for
acquisition and sustainment.

 (Reporting by Ankit Kumar; Editing by Pooja Desai)
 ((Ankit.Kumar2@thomsonreuters.com;))