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Business alliance1515Nittetsu Mining Co.,Ltd.Energy Resources

Notice Regarding the Execution of an Agreement to Enter the Oracle Ridge Copper Exploration Project in Arizona, United States

日鉄鉱業 has entered into an agreement with Eagle Mountain Mining to participate in the Oracle Ridge copper exploration project in Arizona, United States, through a joint venture company. The parties will spend a total of $20 million over 4 years on environmental permitting, drilling exploration and a feasibility assessment.

Worth reading
54Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Neutral
Direction inferred from the company’s description.
Scale
20
USD million
Wording
Definitive
How definitive the wording is.

Agreements reached under this partnership

Joint venture
1515Nittetsu Mining Co.,Ltd.
Alliance partnerEagle Mountain Mining (EM2)
Details of the alliance
  1. 1

    Obtaining environmental permits

  2. 2

    Drilling exploration

  3. 3

    Feasibility assessment

These are items that the documents state the two companies will work on. The lines above and below represent arrangements between the two companies.

Capital and personnel relationships

This indicates whether the companies will do more than work together, such as holding each other’s shares or seconding personnel (capital and business alliance).

80.00%Our ownership stake in the partner’s shares
Shareholding ratio The Company: 80%; EM2: 20%
Ownership ratioThe Company: 80%; EM2: 20%
Overview of the joint ventureName Not disclosed / Location Not disclosed / Business Description Not disclosed / Capital Contributions Not disclosed / Ownership ratio The Company: 80%; EM2: 20%
About the partner
Business DescriptionA copper and gold exploration company specializing in the strategic exploration and development of the Oracle Ridge and Silver Mountain projects in Arizona, United States
LocationNedlands, Western Australia, Australia
Impact on Business Performance

The impact of this matter on the Company's results is expected to be immaterial for the time being.

Contract Date20 April 2026Contract Period4 years
Agreements reached under this partnership
ItemDetails
Name of alliance partnerEagle Mountain Mining (EM2)
Alliance partner's business activitiesA copper and gold exploration company specializing in the strategic exploration and development of the Oracle Ridge and Silver Mountain projects in Arizona, United States
Alliance partner's locationNedlands, Western Australia, Australia
Type of allianceJoint venture
Details of the allianceObtaining environmental permits, Drilling exploration, Feasibility assessment
Shareholding ratioNot disclosed → The Company: 80%; EM2: 20%
Overview of the joint ventureName Not disclosed / Location Not disclosed / Business Description Not disclosed / Capital Contributions Not disclosed / Ownership ratio The Company: 80%; EM2: 20%
Ownership ratioThe Company: 80%; EM2: 20%
Contract Period4 years
Contract Date20 April 2026
Impact on Business PerformanceThe impact of this matter on the Company's results is expected to be immaterial for the time being.
Items this document does not state (12)
Alliance partner's capitalAlliance partner's net salesAlliance partner's operating incomeNumber of shares acquiredAcquisition priceDispatch of directors and officersNumerical targets under the allianceShareholding PolicyDate of board resolutionAlliance start dateShare Acquisition Date and Payment DateChange in major shareholders

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

The project is of a scale suited to the Company's funding and development capabilities, and the Company can leverage its track record and experience in copper mining operations developed in Chile. In addition, establishing a base in the United States will diversify the Company's concentration risk in Chile and contribute to growth in its metal resources business.

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Notice Regarding the Execution of an Agreement to Enter the Oracle Ridge Copper Exploration Project in Arizona, United States | Nittetsu Mining Co.,Ltd. (1515) timely disclosure | Komori