Once-Promising Cobalt Mining Firm the U.S. Hoped Would Compete With China Struggles to Survive

Jervois Global's cobalt mining operation in the western U.S. state of Idaho

Australia-based cobalt mining company Jervois Global was once hailed as Washington’s answer to China’s dominance in the critical resource mining sector but is struggling to survive after years of persistently low prices for the blue metal.

Jervois’ investors announced last week they would take the company private as part of a last-ditch effort to salvage the firm that’s struggled to compete against much larger Chinese rivals. U.S. fund manage Millstreet Capital Management will assume control of the mining company and inject $145 million to help revive the company’s efforts to mine cobalt in places like Idaho.

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by Eric Olander

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