Chalice Mining Enters into an Agreement with Mitsubishi for WA Project

Australian diversified miner Chalice Mining announced on Wednesday that it has signed an agreement with Japan’s Mitsubishi Corp to develop the Gonneville PGE-Nickel-Copper-Cobalt Project in Western Australia.

Under the agreement, Mitsubishi will collaborate on the technical, financing, marketing, and offtake aspects of the project, which is currently undergoing a pre-feasibility study expected to conclude by mid-2025. The memorandum of understanding also outlines the potential for a strategic partnership between the two companies to develop the greenfield project. Chalice Mining is targeting a final investment decision on the project by late 2026.

Chalice Mining is a globally recognized leader in minerals exploration, driven by an experienced team of proven mine-finders. The company made a major greenfield discovery in early 2020 with the Gonneville Project, which hosts a rare mix of critical green metals essential for decarbonization, including nickel, copper, cobalt, palladium, and platinum. The Gonneville Project boasts a tier-1 scale Mineral Resource Estimate, containing approximately 16 million ounces of platinum group elements (PGEs), 860 thousand tonnes of nickel, 520 thousand tonnes of copper, and 83 thousand tonnes of cobalt. This makes it one of the largest recent nickel sulphide discoveries globally and the largest PGE discovery in Australian history. Chalice is now advancing this world-class green metals resource towards development.

The Gonneville discovery has unveiled a new unexplored mineral province, the West Yilgarn Ni-Cu-PGE Province, where Chalice holds an unrivalled land position of over 8,000 km². With a first-mover advantage in one of the most exciting new nickel sulphide provinces worldwide, Chalice is also progressing exploration activities across the region. The Gonneville discovery has received multiple accolades, including the prestigious 2023 Thayer Lindsley Award from the Prospectors and Developers Association of Canada for the best international minerals discovery. Chalice Mining is led by a highly credentialed Board and management team with a strong track record of value creation for shareholders.