Japan's Sumitomo and Mitsubishi invest $98.5m in Ardea Resources' $3bn nickel project in Western Australia, targeting diversification away from China.
Japan's Sumitomo and Mitsubishi have committed to investing in Ardea Resources' $3bn nickel project in Western Australia. The Japanese partners will invest $98.5m in cash and assist with financing to earn a 50% stake alongside Ardea in the Goongarrie Hub development. The project is seen as an opportunity for Australia and Japan to diversify their battery minerals sources away from China.
April 29, 2024
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