Japanese Consortium Supports Ardea Resources’ Nickel Project in Western Australia

Ardea Resources has received backing from a prominent Japanese business consortium for the definitive feasibility study (DFS) of its Goongarrie Hub nickel project located in Western Australia. The consortium, comprising industry powerhouses Sumitomo Metal Mining and Mitsubishi Corporation, completed its due diligence, setting the stage for binding agreements by the end of next month.

This collaboration is expected to finalize the formation of a joint venture (JV) between Ardea and the Japanese entities, aiming to conclude the DFS and make a final investment decision. The partnership seeks not only to secure project development funding but also positions the Goongarrie Hub to emerge as a major player in nickel-cobalt production on a global scale.

Ardea's Kalgoorlie Nickel Project (KNP), within which the Goongarrie Hub is located, boasts significant resources, including 854 million tonnes with a composition of 0.71% nickel and 0.045% cobalt. This positions the project as a critical asset in the clean-energy transition, meeting the growing demand for nickel.

The company plans to adopt high-pressure acid leach (HPAL) technology for processing nickel laterite deposits at KNP, aiming to produce Mixed Hydroxide Precipitate (MHP) suitable for the burgeoning lithium-ion battery market. This process involves treating laterite ore under high temperatures and pressures to extract nickel and cobalt efficiently.

The support from Sumitomo Metal Mining, Mitsubishi Corporation, and the Australian Government brings Ardea Resources closer to its goal of contributing significantly to the clean energy sector by producing nickel and cobalt. The announcement has already positively impacted Ardea's share price, indicating strong market confidence in the project's potential.