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Globe and Mail
2 days ago
- Business
- Globe and Mail
Inomin Announces Final Approval of Beaver-Lynx Transaction
Vancouver, British Columbia--(Newsfile Corp. - July 7, 2025) - Inomin Mines Inc. (TSXV: MINE) (" Inomin" or the " Company") is pleased to announce that it received shareholder approval at its shareholder meeting on July 3, 2025 of its earn-in and joint venture agreement with Sumitomo Metal Mining Canada Ltd. (" Sumitomo") pursuant to which the Company granted to Sumitomo the right to earn up to an 80% interest in the Company's Beaver-Lynx project in south-central British Columbia (the " Transaction"). The Transaction received 99.9% approval from shareholders. The Company has also received final approval from the TSX Venture Exchange (" TSXV") with respect to the Transaction. At the meeting, the Company's shareholders re-elected all of the Company's current board of directors, John Gomez, Anil Jiwani, Ari Shack, John Peters and William Yeomans, and approved the appointment of the Company's auditor, Baker Tilly WM LLP. The Company's shareholders also re-approved the stock option plan in accordance with the requirements of the TSXV. For further details on the Transaction, readers are referred to the news releases dated November 4, 2024, March 6, 2025, May 8, 2025, and June 18, 2025. About Inomin Mines Inomin Mines is focused on the identification, acquisition, and exploration of mineral properties with strong potential to host significant resources, especially critical minerals, as well as gold and silver. Inomin trades on the TSX Venture Exchange with the symbol MINE. For more information, visit On behalf of the board of Inomin Mines: Inomin Mines Inc. Per: "John Gomez" President and CEO For more information, please contact: John Gomez info@ Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
West Australian
25-06-2025
- Business
- West Australian
Ardea boosts open pit resources with high-grade nickel near Kalgoorlie
Ardea Resources has unveiled a plethora of high-grade infill drilling hits from its Highway nickel-cobalt deposit in the West Australian Goldfields. The drilling at part of the company's broader Kalgoorlie nickel project (KNP) – Goongarrie hub is designed to upgrade the current mammoth resource to the highest confidence measured category. Assays have delivered some thick, high-grade intercepts that strengthen the project's case for robust early production. The drilling campaign will feed into the company's ongoing $98.5 million definitive feasibility study (DFS), which is fully funded by Japanese giants Sumitomo Metal Mining and Mitsubishi Corporation. The company says its DFS is on track to unlock the potential of Australia's largest nickel-cobalt resource as a multi-decade low-cost producer. The current infill program is expected to optimise five years of open-pit mining designs. Ardea's latest drilling at its Highway prospect comprised 165 reverse circulation holes for 10,058 metres. It showcased impressive near-surface intercepts, including 14m running at 1.19 per cent nickel from 30m, 20m at 1.12 per cent nickel from 26m and a thicker 72m section running 0.92 per cent nickel from 12m. The company says its high-grade results validate its 2025 prefeasibility study pit designs and highlight the potential for selective mining to front-load production, enhancing cash flows during the project's early years. The Highway deposit lies 30 kilometres north of the proposed Goongarrie hub processing plant, about 100km northwest of Kalgoorlie. It spans 5.7km of strike on ready-to-go granted mining leases. Ardea is now advancing geological interpretation and wireframing for updated mineral resources across Highway, Goongarrie South, Big Four and Scotia Dam. It anticipates feeding any upgrades into detailed resource optimisation and mine planning. Both are key deliverables for the DFS, which is slated for completion in the second half of this year. The company is also collecting metallurgical samples to assess the inclusion of a 'mineralised neutraliser' in pit optimisations, and large-diameter diamond drilling is continuing to support detailed testwork. The mineralised neutraliser, carbonate-bearing saprock, occurs at the base of nickel-cobalt laterite zones. While low in nickel grade, the carbonate component acts as a natural acid neutraliser, replacing costly imported limestone. The KNP – Goongarrie hub is part of a colossal 854 million-tonne resource grading 0.71 per cent nickel and 0.045 per cent cobalt, for a contained 6.1Mt of nickel and 386,000t of cobalt. The Goongarrie hub alone hosts 584 million tonnes with 4Mt nickel – the remainder is held in KNP's Kalpini hub. The existing PFS projected an eye-watering $800 million annual EBITDA over a 40-year mine life, underpinned by a shallow, flat-lying orebody, albeit at much higher projected cobalt prices. The Japanese consortium joint venture with Ardea was designed for the metals powerhouses to stump up the cash for both front-end engineering design and potential financing post-DFS, positioning KNP for a final investment decision in early 2027. Beyond Goongarrie, Ardea is sharpening its focus on advanced-stage exploration at the Kalpini hub, targeting nickel sulphide and critical minerals such as scandium and rare earth elements. Scoping studies for these prospects are underway, complementing the company's broader development strategy. As the company updates its resources and refines its mining plan, it is poised to redefine Australia's role in the global critical minerals landscape. Ardea is steadily progressing towards development to deliver high-quality Aussie nickel and cobalt to electric vehicle makers globally. Is your ASX-listed company doing something interesting? Contact:
West Australian
21-05-2025
- Business
- West Australian
Ardea banks $1.2M research rebate to fuel WA nickel development
Ardea Resources has received a significant $1.18 million research and development (R&D) tax incentive rebate from the Australian government for pioneering work on its Kalgoorlie Nickel Project (KNP) in Western Australia's Goldfields region. The timely cash injection for last year's cutting-edge nickel research will boost Ardea's commitment to advancing its globally significant nickel-cobalt resource. The rebate follows a $4.6M strategic placement from Japanese joint venture partner Sumitomo Metal Mining in April, bolstering Ardea's robust cash balance of $12M at last quarter's end. Ardea's R&D efforts have centred on its breakthrough mineralised neutraliser process, a novel approach to nickel-cobalt extraction that has led to an international patent application. The process leverages magnesite saprock at the base of its Goongarrie nickel hub's laterite deposits, segregating it into fines for processing and magnesite scats for neutralising leach discharge solutions. The company says its innovation promises to enhance the efficiency and sustainability of nickel-cobalt production, aligning with global demand for responsibly sourced critical minerals. The KNP is Australia's largest nickel-cobalt resource and has an impressive 854 million tonnes at 0.71 per cent nickel and 0.045 per cent cobalt for a contained 6.1Mt of nickel and 386,000t of cobalt. The Goongarrie hub alone hosts 584Mt of ore, with 4Mt of contained nickel, and is being developed in a 50:50 joint venture with Sumitomo and Mitsubishi. The Japanese consortium is fully funding a $98.5M definitive feasibility study, which Ardea says is on track for completion in the second half of this year, paving the way for a final investment decision by 2027. Ardea's innovative process is a cornerstone of its strategy to establish a low-cost, multi-decade operation. The company's 2023 prefeasibility study projected an extraordinary $800M annual EBITDA over a 40-year mine life, producing 30,000t of nickel and 2000t of cobalt annually from a shallow, flat-lying orebody. The rebate will further support Ardea's ongoing exploration at its advanced project, currently targeting nickel sulphide and critical minerals such as scandium and rare earth elements at its Kalpini hub just next door. With a formidable Japanese consortium in tow and a strengthened balance sheet, Ardea will look to navigate volatile global nickel markets and deliver on its vision of becoming a leading supplier of critical minerals by 2030. As work on the definitive feasibility study progresses, the company continues to lay the groundwork for a potential world class operation that could restore nickel to Australia critical minerals ensemble. Is your ASX-listed company doing something interesting? Contact:
Yahoo
12-05-2025
- Business
- Yahoo
Rio Tinto, Sumitomo Partner On $430 Million Copper-Gold Project In Australia
Rio Tinto Plc (NYSE:RIO) shares are trading higher premarket on Monday after it finalized joint venture agreements with Sumitomo Metal Mining (SMM) to advance the Winu copper-gold project in Western Australia's Great Sandy Desert. According to the deal, Rio Tinto will remain responsible for the ongoing development and operation of the Winu project. In return, Sumitomo Metal Mining will pay Rio Tinto up to $430.4 million for a 30% ownership stake in the project. This includes an upfront payment of $195 million, with the potential for up to an additional $235.4 million in deferred payments contingent on achieving future project milestones. Also Read: The transaction is anticipated to be finalized in 2025, pending regulatory approvals and standard closing conditions. The Winu project, discovered by Rio Tinto in 2017, is described as an attractive, low-risk, long-life copper-gold deposit with significant potential for expansion beyond its initial development plans. Rio Tinto is maintaining its focus on partnerships with the Nyangumarta and Martu Traditional Owners, including ongoing Project Agreement negotiations. The pre-feasibility study for the Winu project, outlining an initial processing capacity of up to 10 million tonnes per annum (mtpa), is expected to be finalized in 2025. Rio Tinto Copper Chief Executive Katie Jackson said, 'Our relationship with SMM began in 2000 with our partnership at the Northparkes mine in New South Wales and we look forward to bringing our combined experience and expertise to deliver the Winu project.' 'This partnership is an excellent fit for Rio Tinto and will strengthen the project as we continue to prioritize the strong and enduring partnerships built to date with the land's Traditional Owners, the Nyangumarta and the Martu.' Last week, Rio Tinto disclosed that it entered into a Memorandum of Understanding (MoU) with AMG Metals & Materials to explore the development of a large-scale, low-carbon aluminum project in India. Investors can gain exposure to the stock via VanEck Steel ETF (NYSE:SLX) and iShares Copper and Metals Mining ETF (NASDAQ:ICOP). Price Action: RIO shares are up 2.90% to $61.72 premarket at the last check on Monday. Image by Adwo via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Rio Tinto, Sumitomo Partner On $430 Million Copper-Gold Project In Australia originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12-05-2025
- Business
- Yahoo
Rio Tinto and Sumitomo Metal Mining sign Definitive Agreement for Winu Project joint venture
PERTH, Australia, May 12, 2025--(BUSINESS WIRE)--Rio Tinto and Sumitomo Metal Mining Co (SMM) have signed the final joint venture agreements to deliver the Winu copper-gold project, located in the Great Sandy Desert region of Western Australia. The final joint venture agreements were signed in Perth by Rio Tinto Copper Chief Executive Katie Jackson and SMM Director, Managing Executive Officer, and General Manager of the Mineral Resources Division Hideyuki Okamoto. It comes after the two companies signed a Term Sheet in December 2024 to form the joint venture. The Winu project is an attractive low-risk, long-life copper-gold deposit discovered by Rio Tinto in 2017. It is considered highly prospective for expansion beyond the initial development. Rio Tinto Copper Chief Executive Katie Jackson said: "Our relationship with SMM began in 2000 with our partnership at the Northparkes mine in New South Wales and we look forward to bringing our combined experience and expertise to deliver the Winu project. "This partnership is an excellent fit for Rio Tinto and will strengthen the project, as we continue to prioritise the strong and enduring partnerships built to date with the land's Traditional Owners, the Nyangumarta and the Martu." SMM Director, Managing Executive Officer, and General Manager of the Mineral Resources Division Hideyuki Okamoto said: "We are very excited to renew our long-standing partnership with Rio Tinto, and to leverage our extensive collective experience to realise the exceptional potential of the Winu project." Under the agreements, Rio Tinto will continue to develop and operate Winu, and SMM will pay Rio Tinto up to $430.4 million for a 30% equity share of the project. This includes $195 million up front and up to $235.4 million in deferred considerations contingent on future milestones. The parties will also continue to work together to develop a broader strategic partnership to explore opportunities for commercial, technical and strategic collaboration across copper, other base metals and lithium. The transaction is expected to close in 2025, subject to regulatory approvals and the satisfaction of customary conditions. Rio Tinto continues to focus on its partnerships with the Nyangumarta Traditional Owners and the Martu Traditional Owners, including progressing Project Agreement negotiations. A pre-feasibility study for the Winu project with an initial development of processing capacity of up to 10 mtpa is expected to be completed in 2025, along with the submission of an Environmental Review Document under the Western Australian EPA Environmental Impact Assessment process. View source version on Contacts Please direct all enquiries to Media Relations,United KingdomMatthew KlarM +44 7796 630 637 David OuthwaiteM +44 7787 597 493 Media Relations, Australia Matt Chambers M +61 433 525 739Michelle Lee M +61 458 609 322Rachel Pupazzoni M +61 438 875 469 Media Relations, Canada Simon Letendre M +1 514 796 4973Malika Cherry M +1 418 592 7293Vanessa Damha M +1 514 715 2152 Media Relations, US Jesse Riseborough M +1 202 394 9480 Investor Relations, United Kingdom Rachel ArellanoM: +44 7584 609 644David Ovington M +44 7920 010 978Laura Brooks M +44 7826 942 797Weiwei Hu M +44 7825 907 230 Investor Relations, Australia Tom Gallop M +61 439 353 948Amar Jambaa M +61 472 865 948 Rio Tinto plc 6 St James's SquareLondon SW1Y 4ADUnited KingdomT +44 20 7781 2000Registered in EnglandNo. 719885 Rio Tinto Limited Level 43, 120 Collins StreetMelbourne 3000AustraliaT +61 3 9283 3333Registered in AustraliaABN 96 004 458 404 Category: General Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
