Ardea Resources Limited announces that the company has signed a non-binding Memorandum of Understanding (MOU) with Sumitomo Metal Mining Co., Ltd (SMM), Mitsubishi Corporation (MC), and Mitsui & Co., Ltd (MBK).
SMM is a pre-eminent Japanese nickel-cobalt laterite development and production company and together with Japan’s two largest trading houses, MC and MBK will form the Consortium.
The MOU provides a framework for the Consortium and Ardea to negotiate a binding agreement to complete the Kalgoorlie Nickel Project (KNP) Goongarrie Hub Definitive Feasibility Study (DFS), make a Final Investment Decision (FID) and jointly secure project development funding to develop this globally significant nickel-cobalt resource.
Managing Director and CEO Andrew Penkethman noted: “The Ardea Team will be working with well-regarded and experienced partners who recognise the global significance of the Kalgoorlie Nickel Project to the renewable energy supply chain and see the development advantages derived from our location within the best resources operating jurisdiction in the world.Sumitomo Metal Mining are most successful in developing and operating nickel[1]cobalt laterite operations, whilst Mitsubishi and Mitsui have decades of project development and operations experience in Australia and globally.
“Australia and Japan have particularly strong geopolitical alignment, with enduring successful business relationships. Japan has been integral to the development of Australia’s iron ore, natural gas, and coal sectors for the benefit of both nations. We look forward to Ardea and the KNP Goongarrie Hub joining the successful Australia and Japan project development model and welcome the contribution of the Consortium in developing Ardea’s Battery and Critical Minerals projects.”