Mining boss Ellison tells investors: ‘I hate what I’ve done’
The executive has been pressured to explain why the company made historical payments to offshore entities he controlled.
Australian diversified miner Chalice Mining signed an agreement on Wednesday with Japan’s Mitsubishi Corp to develop its Gonneville PGE-nickel-copper-cobalt project, located in Western Australia.
Under the deal, the Japanese conglomerate will collaborate on the technical, financing, marketing and offtake aspects of the project, which is currently undergoing a pre-feasibility study, expected to end by mid 2025.
The memorandum of understanding also provides an intention of a possible strategic partnership with Mitsubishi to develop the greenfield project, the Australian miner added.
The company also said they are targeting a final investment decision on the project in late 2026.
(By Rajasik Mukherjee; Editing by Alan Barona)
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