ASX and TSX-V listed battery metals miner Jervois Mining is participating in funding talks with the U.S. federal government to complete construction of its Idaho Cobalt Operations (ICO) mine in Idaho.

Jervois states that once production starts, ICO will be the only cobalt mine in the US.

Jervois has submitted specific proposals and is negotiating to finalize the form of final applications to various branches of the U.S. government, including the Department of Defense, under Title III of the Defense Production Act to expand domestic manufacturing capacity and capacity funding opportunities.

Other departments involved include the US International Development Finance Corporation and the Department of Energy.

Jervois acquired ICO in 2019 as a partially completed mining operation and expects to complete construction on the project and begin cobalt production in 2022.

The mining company suggests that a debt guarantee or loan is in the US national interest because the US government has put cobalt on a critical mineral list.

Regardless of the potential availability of financial assistance from the U.S. government, Jervois continues to advance private debt financing for ICO.