X
6.5 C
Belgrade
Supported byspot_img
spot_img

Ardea Resources enters strategic collaboration with Japanese powerhouses for Kalgoorlie nickel project in Australia

Member of Europium Groupspot_img
Supported byspot_img

Ardea Resources, a battery metals explorer, has struck a significant cooperation deal with Japanese giants Sumitomo Metal Mining and Mitsubishi Corporation to develop the Kalgoorlie nickel project – Goongarrie Hub in Western Australia. The joint venture, named Kalgoorlie Nickel, will be a 50:50 partnership with Ardea.

This agreement entails the funding and execution of a definitive feasibility study (DFS) for the project, which is slated to commence in the first half of 2024. The Consortium, alongside Ardea and Kalgoorlie Nickel, will finance and oversee this study, with Sumitomo Metal Mining and Mitsubishi Corporation contributing technical and commercial expertise.

The Consortium will provide all necessary funding for the DFS, amounting to around $98.5 million over approximately 18 months. Upon completion of the DFS phase, the Consortium is poised to acquire a 35% stake in Kalgoorlie Nickel, with an option to increase ownership to 50% upon a positive final investment decision (FID).

Supported by

If the DFS yields positive results, Ardea and the Consortium will equally share further development expenses leading up to the FID stage. The agreement underscores Ardea’s strategic move to partner with established industry players to maximize the potential of the Kalgoorlie nickel project.

Federal Resources Minister Madeleine King has highlighted the project’s significance in bolstering Australia’s resource trade relationship with Japan. She emphasized the project’s alignment with stringent environmental, social, and governance (ESG) standards, positioning it as a model for sustainable resource development.

With the transaction expected to be finalized by the end of the third quarter of 2024, the collaboration sets the stage for the Kalgoorlie nickel project to emerge as a major nickel-cobalt producer in Australia, contributing to both the local and global energy transition efforts.

Supported byElevatePR Digital

Related News

India set to decide on import restrictions for metallurgical coke

India is set to make a decision soon on whether to implement import restrictions on metallurgical coke, a crucial ingredient in steelmaking. According to...

AMMC targets major production milestones by 2030 with ongoing development projects

Almalyk Mining and Metallurgical Combine (AMMC) has set ambitious production goals for 2030, aiming to achieve annual output of 500,000 tons of copper, 50...

Kazatomprom partners with Jordan uranium mining company on joint uranium exploration and extraction

Kazatomprom, Kazakhstan's national atomic company, has entered into a collaboration with Jordan Uranium Mining Company (JUMCO) to jointly explore and extract uranium in Jordan....

Saudi Arabia boosts mining sector to secure global mineral supply and support clean energy transition

As part of Saudi Arabia’s Vision 2030 initiative, the country is making significant strides toward creating a sustainable economy driven by clean energy. To...
Supported by
Supported by
Supported by
error: Content is protected !!