Jervois Global Limited announced successful completion of the BFS for an initial Stage 1 partial restart of the SMP refinery. SMP is located in the city of São Paulo, the most populous city in Brazil and the Americas. SMP is 14km
by road southeast from the main Brazilian international airport of São Paulo Guarulhos, and 120km by road northwest from the Port of Santos, Brazil's large commercial port. Access from the Port of Santos is 100km north along BR-050 Highway and 20km east along Ayrton Senna Highway (SP-070 Highway). The State of São Paulo is the industrial and manufacturing heartland of Latin America, with a population of greater than 45 million people. The State accounts for approximately one third of total Brazilian GDP, with its economy in the region second only to Mexico. The State of São Paulo's GDP exceeds that of other advancing national economies such as Chile, South Africa or Singapore. It is the manufacturing and export hub of South America, and an extremely competitive and attractive investment destination.