Chalice Mining has teamed up with Mitsubishi Corporation to progress the Gonneville nickel-copper-platinum group elements (PGE) project in Western Australia, a move that could have significant benefits for the region and beyond. Under a non-binding memorandum of understanding (MoU), Chalice and Mitsubishi will collaborate on various aspects of the project, which is currently in the pre-feasibility study (PFS) stage.
This includes:
- Working together on technical studies
- Financing options
- Marketing strategies
- Securing potential buyers for the minerals once the project becomes operational
The Gonneville project, located on Chalice’s Julimar property, is known for its large-scale deposits of critical minerals, which are vital for many industries, including electric vehicles and renewable energy. The PFS is expected to be completed by mid-2025, with Chalice fully funded to meet this timeline.
Mitsubishi’s involvement in the project is seen as a significant boost. As one of the world’s leading investors in natural resources, Mitsubishi brings decades of experience in mining development, operations, and trading.
Chalice Mining’s Managing Director and CEO, Alex Dorsch, highlighted the importance of this partnership, stating, “Mitsubishi was always considered one of the most impressive and best-suited strategic partners for the Gonneville project. Their involvement follows extensive due diligence over the past year and reinforces the value and potential of Gonneville as a large-scale, low-carbon source of critical minerals for Western markets.”
Mitsubishi’s participation is a strong vote of confidence in the future of the Gonneville project. Kota Ikenishi, General Manager of Mitsubishi’s battery minerals office, noted the potential global importance of the project.
“The Gonneville project could become a large-scale, globally significant critical minerals asset,” Ikenishi said.
“It holds metals that qualify under the U.S. Inflation Reduction Act (IRA) and could have strategic importance for Japan in the future. We are excited to work with Chalice and leverage our complementary skills as we explore the possibility of formalising a long-term partnership.”
While the MoU is non-exclusive, meaning Chalice is free to explore other partnerships, Mitsubishi is viewed as a Tier 1 partner due to its expertise and established reputation in the mining industry. The Gonneville project has the potential to make a significant contribution to the global supply of critical minerals, which are essential for new technologies aimed at reducing carbon emissions and promoting sustainability.
By teaming up with Mitsubishi, Chalice is well-positioned to advance the project and deliver long-term value to its investors and stakeholders. The partnership is a promising development for both companies and could have far-reaching benefits as the world shifts towards more sustainable and low-carbon energy solutions.
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