Japanese to partner on Kalgoorlie nickel project
Japanese multinational companies Sumitomo Metal Mining (SSM) and Mitsubishi have thrown their weight behind the Kalgoorlie nickel project – Goongarrie hub, in Western Australia.
ASX-listed Ardea Resources on Monday announced a binding cooperation agreement between SSM and Mitsubishi to form a 50:50 joint venture to develop the project.
The agreement sets out the terms and conditions on which the consortium, Ardea and Kalgoorlie Nickel Pty Ltd (KNPL) will conduct the definitive feasibility study (DFS) and other activities leading up to a final investment decision.
Separately, Ardea, SMM and KNPL have agreed on funding support arrangements, enabling earlier DFS activities to occur in the second quarter.
“The Ardea team have been focused on aligning the company with the best possible strategic partners to assist in realising the full potential of the Kalgoorlie nickel project – Goongarrie Hub.
“Sumitomo Metal Mining and Mitsubishi Corporation are high-quality partners that can bring leading expertise to continue to drive the project forward,” said MD and CEO Andrew Penkethman.
Once in production, the Kalgoorlie nickel project – Goongarrie hub is expected to be one of the largest nickel/cobalt producers in Australia.
Ardea’s Kalgoorlie project hosts a resource of 854-million tonnes at 0.71% nickel and 0.045% cobalt for 6.1-million tonnes of contained nickel and 386 000 t of contained cobalt.
The Goongarrie hub is located 70 km north-west of mining centre the City of Kalgoorlie-Boulder, with resources of 584-million tonnes at 0.69% nickel and 0.043% cobalt for four-million tonnes of contained nickel and 250 000 t of contained cobalt.
Federal Resources Minister Madeleine King commented that the project was a great example of collaboration between Australia and Japan.
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