Canberra backs Ardea mammoth WA nickel project

The West Australian04-09

Ardea Resources has been given a federal leg-up for its Kalgoorlie nickel project (KNP) in Western Australia after being selected to participate in the Government’s recently penned Investor Front Door...

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The IFD support provides enhanced regulatory coordination and access to government financing pathways, strengthening certainty as we progress the Goongarrie Hub through key approvals and development milestones.Ardea Managing Director and chief executive officer Andrew PenkethmanKNP is a monster nickel laterite deposit hosting a mineral resource estimate of 854 million tonnes grading 0.71 per cent nickel and 0.045 per cent cobalt, equating to 6.1Mt of contained nickel and 386,000 tonnes of contained cobalt, making it Australia’s largest nickel-cobalt resource.Today’s news comes hot on the heels of further progress on the definitive feasibility study for the project’s core resource at its Goongarrie Hub. Workstreams have advanced across mining studies, tailings design, process plant definition and metallurgical testwork, ahead of a critical final investment decision later this year.The study has been funded up to $98.5 million by Ardea’s Japanese partners, a consortium of Sumitomo Metal Mining and Mitsubishi Corporation, with half of the budget backed by Japan’s Ministry of Economy, Trade and Industry.Under the terms of the pair’s cooperation agreement, the Sumitomo–Mitsubishi consortium has now been issued a second tranche of equity in the project vehicle.The move lifts the consortium’s aggregate interest in the project vehicle to 35 per cent, with a pathway to increase its stake to 50 per cent upon a positive final investment decision.The Goongarrie Hub is the development focus at KNP and represents the largest component of the resource, with a resource of 584 million tonnes for 4 million tonnes of contained nickel.With the world scrambling to secure stable supplies of battery metals to fuel the green energy transition, large-scale, well-located projects such as Ardea’s KNP are attracting serious attention from governments and major industry players alike.Having Canberra now formally step in to help clear the path to production could prove to be a major accelerator for Ardea as it looks to bring its giant nickel asset to life.Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.0","shortVersion":"4.42.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2626909824","isCrawlerRequest":true}