[1][2] Jubilee Gold planned to invest A$52 million in the project, of which A$38 would go towards the construction of a concentrator.

In 1998, the company estimated an initial mine life of three years and a production of 30,000 tonnes of nickel in this time.

[5] In 2007, Jubilee Gold, and thereby the mine, were acquired by Xstrata for A$3.1 billion,[6] at a time when nickel prices had surged.

Shortly after the purchase by Xstrata, nickel prices crashed and, in 2012, the mine was placed in care and maintenance.

[11] Shortly after the purchase, IGO announced that, to restart the operation and increase the concentrator size at Cosmos from 750,000 to one million tonnes per annum, an A$825 million investment was needed, three times the original estimate by the previous owner.