17/07/2024
Mining News

Chalice Mining and Mitsubishi forge partnership on Gonneville project in Western Australia

Chalice Mining has entered into a memorandum of understanding (MoU) with Mitsubishi, marking a significant collaboration on the Gonneville platinum group element (PGE)/nickel/copper/cobalt project located in Western Australia. The MoU sets the stage for potential binding partnership discussions following the completion of a prefeasibility study (PFS) scheduled for next year. Alex Dorsch, MD and CEO of Chalice, emphasized Mitsubishi’s involvement as the culmination of extensive due diligence and year-long discussions.

Dorsch highlighted the MoU’s strategic benefit, providing a collaborative framework during ongoing PFS workstreams. This approach aims to mitigate risks and advance project optimization, paving the way for substantive discussions on joint arrangements and investment post-PFS, targeted for mid-2025. The Gonneville project is poised to become a significant global asset for critical minerals, with its suite of metals qualifying under the US Inflation Reduction Act potentially holding strategic importance for Japan in future markets.

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Situated on Chalice-owned farmland approximately 70 km northeast of Perth, Gonneville was identified in 2018 during Chalice’s exploration for high-potential nickel sulphide opportunities. The project boasts substantial mineral resources, estimated at 660 million tonnes with grades of 0.79 g/t 3E PGE, alongside nickel, copper, and cobalt deposits. Notably, Gonneville holds 17 million ounces of 3E, 950,000 tonnes of nickel, 540,000 tonnes of copper, and 96,000 tonnes of cobalt.

Chalice underscores the rarity and strategic significance of such large-scale resources in the Western world, amidst global dominance of PGE and nickel production by Russia, South Africa, and Indonesia. Mitsubishi, known for its substantial investments and joint ventures in tier-one mining assets worldwide, positions itself as a key partner in advancing Gonneville’s development into a globally significant mining operation.

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