Chalice Mining and Mitsubishi Corporation sign MOU for Gonneville Project

Chalice Mining Limited (ASX: $CHN) has signed a non-binding Memorandum of Understanding (MOU) with Mitsubishi Corporation to collaborate on the ongoing Pre-Feasibility Study (PFS) for the development of Chalice's 100%-owned Gonneville PGE-Nickel-Copper-Cobalt Project in Western Australia. The MOU aims to establish a potential strategic partnership and allows both parties to jointly refine the scope of the Project before discussing a potential binding partnership within 90 days of PFS completion, targeted for mid CY25.

Executive Commentary on MOU with Mitsubishi Corporation

Chalice Managing Director & CEO, Alex Dorsch, expressed satisfaction with the MOU, highlighting Mitsubishi's involvement as a significant step towards a long-term strategic relationship. He emphasized the favorable structure of the MOU, enabling collaboration during the PFS and de-risking of the Project before potential joint arrangement discussions. Mitsubishi Corporation General Manager of the Battery Minerals Office, Kota Ikenishi, echoed the sentiment, emphasizing the strategic importance of the Gonneville Project and the potential for a long-term partnership.

Summary of Chalice Mining's MOU with Mitsubishi Corporation

Chalice Mining's MOU with Mitsubishi Corporation signifies a pivotal step towards the development of the Gonneville Project. The collaboration aims to explore the potential for a strategic partnership following the completion of the PFS, with both parties intending to align on key project development parameters. Mitsubishi's extensive capabilities and experience position it as a valuable partner for Chalice, reflecting the Project's long-term strategic value. The Gonneville Project, with its rare mix of critical minerals, holds the potential to become a globally significant asset, and Chalice is committed to sustainable and responsible development. The targeted Final Investment Decision in late 2026 indicates the Company's long-term ambitions for the Project's development and contribution to critical minerals supply.