The companies will carry out a study to assess the technical, commercial and economic feasibility for the development of the facility
Wyloo Metals has formed a strategic partnership with IGO for the development of a downstream nickel processing facility in Australia.
Under the partnership, the companies will carry out a study to assess the technical, commercial and economic feasibility for the nickel processing facility in the country.
The funding required for the study will be provided by IGO and Wyloo Metals in a 70:30 ratio.
Upon the conclusion of the study and subject to the final investment decision, the companies will create a 70:30 joint venture to build and operate a downstream nickel processing facility.
Wyloo Metals CEO Luca Giacovazzi said: “Wyloo Metals is looking forward to working closely with our strategic partner IGO to develop an independent, downstream nickel processing facility that could potentially accept feed from any nickel mine in Western Australia.
“By developing additional downstream processing capacity domestically, this partnership will make Western Australia an increasingly relevant jurisdiction in the global battery supply chain.
“This partnership is aligned with Wyloo Metals’ global strategy of investing in the production of materials required to support the rapid decarbonisation of the global economy.”
In May last year, the Australian mining company announced the development of a Future Metals Hub in Ontario, Canada.
The proposed Future Metals Hub was planned to be developed in consultation with regional stakeholders and First Nations communities to establish battery material supply chain capabilities.
The hub is part of Wyloo Metals’ long-term investment strategy in the Ring of Fire.
In September last year, the company proposed to takeover Canada-based Noront Resources by acquiring the remaining shares it previously didn’t own in the latter for C$0.7 ($0.56) per share in cash.