Jervois Global (ASX:JRV) has suspended the final stage of construction at its Idaho Cobalt Operations (ICO) mine due to low cobalt prices and increased construction costs in the US.
The ICO represents the US's largest cobalt reserve and the country's only primary cobalt mine supply.
Jervois Global says it expects cobalt prices to recover over the medium term and plans to complete construction when prices improve.
Its also applied for a US government grant to accelerate drilling for an increase in ICO mineral resources and assess the construction of a cobalt refinery in the US.