Reported 3 days ago
Cobalt miner Jervois Global Ltd has announced a restructuring and delisting due to plummeting cobalt prices, which have fallen 72% since April 2022. The company has struggled against strong competition from Chinese producers and will undergo a recapitalization with Millstreet Capital Management, which will inject $145 million into the firm. This move will erase substantial shareholder investments as Jervois continues operations at its cobalt refinery in Finland and nickel refinery in Brazil while its U.S. cobalt mine remains idle until prices recover.
Source: YAHOO