News Articles for Mitsubishi Corporation

Some heavy hitters are behind Ardea Resources' efforts to develop a nickel deposit in the eastern Goldfields.

Ardea Resources has hit a major milestone in the development of its Goongarrie Hub nickel-cobalt project in Western Australia after executing a binding agreement with a giant Japanese consortium. It now locks away a 50:50 joint venture with Sumitomo Metal Mining and Mitsubishi Corporation in a deal where the consortium has committed to funding a $98.5 million definitive feasibility study to earn into the project.

In tough recent times for many junior mining companies on the ASX, luring a financially-powerful “big dog” onto the share register to provide some much-needed muscle has become a common boardroom pursuit. Bulls N' Bears takes look at some of those companies which have received both a timely cash injection and a share price boost up to recent highs.

Ardea Resources has launched a $98.5 million definitive feasibility study, fully funded by a powerhouse Japanese consortium, for its giant Goongarrie Hub nickel project that sits 70km north-west of Kalgoorlie in WA's Eastern Goldfields region. The Goongarrie Hub is an integral part of the company's Kalgoorlie nickel project that embraces a collection of deposits combining to host what it says is the biggest nickel-cobalt resource in the developed world.

Ardea Resources' high-tech mineral processing technique has boosted the nickel-cobalt inventory at its Goongarrie Hub project near Kalgoorlie in Western Australia and earned it a healthy Federal Government grant of $1.1 million. It comes less than two months after a giant Japanese consortium committed to backing the development of the project described by the Federal Government as “globally significant”.

A giant Japanese consortium has committed to backing the development of Ardea Resources' Goongarrie Hub project in Western Australia's Goldfields region – a major milestone for the nickel-cobalt operation billed by the Federal Government as “globally significant”. Sumitomo Metal Mining and Mitsubishi Corporation have agreed to join Ardea to form an incorporated joint venture to be known as Kalgoorlie Nickel.

What made share prices rise in 2023? Bulls N' Bears will take a look in the next few days, starting with Ardea Resources. Its stock jumped 162 per cent in a busy four days during the middle of last year on the back of a mineral resource upgrade and a mammoth prefeasibility study for its Goongarrie Hub nickel-cobalt deposits in Western Australia's Goldfields region.

Ardea Resources has signed a memorandum of understanding with a Japanese consortium to develop a sub-set of its Kalgoorlie nickel project after tabling a price tag of $3.18 billion.

Japan's Mitsui & Co has joined Mitsubishi Corporation, Shell and KKR as major corporate investors in carbon farming operators in Australia.

Fortescue Metals Group has continued to surprise the market with its ambitious plans, striking an agreement with Sinosteel to evaluate a magnetite mine in the Mid West and a port at Oakajee.

A second large carbon capture and storage project could be built in the north west, with Woodside Petroleum, BP and Japanese investors to scope a new facility.

Mitsubishi has acquired a 40 per cent stake in carbon developer Australian Integrated Carbon for an undisclosed sum.

Nine WA-linked resources businesses are ranked among the country's top 20 corporate taxpayers, despite a widespread perception the industry does not pay its way.

Minister for Ports and Regional Development Alannah MacTiernan says a multi-billion dollar Oakajee port and rail project is unnecessary and Sinosteel's Midwest general manger said there were no guarantees the company would push ahead with the project.

Woodside Petroleum is priming itself to begin design work on its $30 billion Browse LNG project by the end of the year, and has reiterated its intention for a final decision on construction during the first half of 2021.

ANALYSIS: Plans for oil exploration in the Canning Basin announced over the weekend may deliver good news for Western Australia, but some of the claims surrounding the latest drilling program are extravagant to say the least.

As the debate continues from the state government's recent decision on fracking, it is worth considering some of the potential projects that may proceed.

Plans announced last month by a private Chinese group to revive the multi-billion dollar Oakajee port project add a new twist to a 45-year saga.

A private Chinese company is planning to invest $100 million in two major iron ore projects that have been dormant for the best part of a decade - the Oakajee port in WA's Mid West and Sundance Resources' Mbalam Nabeba mine in Cameroon.

Long-running plans by Vikas Rambal's Perdaman Industries to build a multi-billion dollar urea manufacturing plant in Western Australia have received a fillip, with his group signing a gas supply agreement with Woodside Petroleum.

The state government has moved to terminate a state agreement with Mitsubishi Corporation and Buru Energy that was enacted in 2013 when there were high hopes that fracking in the Kimberley's Canning Basin would lead to development of major onshore gas projects.

SPECIAL REPORT: Mitsui & Company, Shell and Itochu Corporation are among a swag of businesses that have made substantial investments in the state's exporting industries over the decades, showing that foreign investors can contribute without directly operating assets.

Onshore oil company Buru Energy has tapped investors for $10.2 million to fund ongoing development of its Ungani operation in the Canning Basin.

Onshore oil producer Buru Energy has taken full ownership of the Ungani operation in the Canning Basin as part of an asset swap with its joint venture partner, Mitsubishi Corporation.

The appointment of Sam Walsh as a director of Mitsui & Company this week has brought attention to the usually low-profile Japanese multinational, which according to BNiQ Search Engine data has been a major investor in Western Australia's resources industry and is one of the state's largest exporters.

A short term domestic gas contract between Woodside Petroleum and electricity generator Synergy is the first such deal since the North West Shelf Venture partners moved towards separate marketing of their production.

Western Australia's only onshore oil producer has suspended production after being hit by the low oil price and the high cost of trucking its output to Wyndham rather than the much closer port at Broome.

Western Australia's biggest and most productive gas production facility suffered an equipment failure early this morning.

Woodside Petroleum and its joint venture partners have given the go-ahead to a $2 billion subsea development at the North West Shelf Project off the Pilbara coast.

The latest official report into Western Australia's gas supply and demand outlook has raised the ire of a group of major domestic gas users, which says some of its key findings are misleading and called for an independent review into how the report is compiled.

Oil and gas producer Buru Energy has fallen on news its Praslin 1 well in the Canning Basin had come up dry.

Quadrant Energy will pay $10 million to withdraw from a joint venture with Buru Energy and Mitsubishi Corporation, which together own oil and gas exploration permits in the Canning Basin.

Buru Energy's Ungani oilfield was today officially opened by Mines and Petroleum Minister Bill Marmion.

Coogee Chemicals has started the new financial year with a freshly installed executive chairman in Tim Martin, and a new managing director in Grant Lukey.

The North West Shelf's six joint venture partners have yet to declare their hand as a deadline for ending their joint gas marketing agreement draws near.

New car sales in Western Australia have had a poor start to the year, with the passenger and heavy commercial markets contracting sharply and indicating that consumers and local businesses alike are tightening their belts.

Some enterprising WA companies are flying under the radar with clean technology business ideas. We highlight local innovations in several fields.

WA is expected to be the world's second-largest LNG exporter by 2020.

Coogee Chemicals has partnered with Mitsubishi Corporation to establish a new fuel terminal in South Australia.

Respected Aboriginal leader Wayne Bergmann has launched an extraordinary attack on Buru Energy, after the oil and gas company announced a landmark agreement with the Noonkanbah Aboriginal community.