What Chalice Mining does

Chalice Mining Limited (ASX: CHN) is an Australian critical minerals explorer-developer headquartered in West Perth, focused on palladium, platinum, gold, nickel, copper, and cobalt. The company's flagship asset is the 100%-owned Gonneville Palladium-Nickel-Copper Project in Western Australia's Wheatbelt region (~70km NE of Perth), hosting a tier-1 mineral resource of 660Mt @ 0.79g/t 3E for approximately 17Moz of palladium-platinum-gold, plus 960kt nickel, 540kt copper, and 96kt cobalt. Chalice has built a >7,000km2 largely 100%-owned licence position in the newly defined West Yilgarn Ni-Cu-PGE Province, giving it first-mover dominance in a previously unexplored mineral belt identified through the 2020 Gonneville greenfield discovery. The company also operates a portfolio of earn-in joint ventures and exploration projects across Western Australia, South Australia, and the Northern Territory.

The core technology is a conventional crush-grind-flotation-leach process plant, with a staged open-pit development (Stage 1: 1Mtpa oxide and 4Mtpa sulphide; Stage 2 expansion to 14Mtpa sulphide). A 2025 metallurgical breakthrough confirmed that saleable nickel concentrate can be produced from the entire Gonneville sulphide resource, materially de-risking downstream economics. The December 2025 Pre-Feasibility Study outlined A$820M Stage 1 initial capital, ~2.7-year capital payback, and A$4.7bn cumulative pre-tax free cash flow over mine life. The project holds Major Project Status from the Australian Federal Government (October 2024) and Strategic Project status from the WA State Government (September 2024).

Chalice is pre-production and generates no revenue. Its commercial model is enterprise field sales targeting direct offtake agreements with strategic downstream partners and government procurement programs seeking critical minerals supply security. The lead partnership is a non-binding MOU with Japan's Mitsubishi Corporation (July 2024) covering technical cooperation, financing, and offtake targeting H2 CY27 completion. Chalice also operates an earn-in JV model on its exploration portfolio (Red Metal at Callabonna, Northam Resources JV, Variscan Mines), uses investor-relations-led marketing across ASX disclosures, broker research, and mining conferences, and is supported by a senior advisory bench including former Anglo American CEO Mark Cutifani CBE. Final Investment Decision is targeted for H1 CY28 with first production expected in early 2030.

Name

Chalice Mining

Legal name

Chalice Mining Limited

Website

https://chalicemining.com

Company type

Public

Founded year

2006

Operating status

Operating

Short description

Chalice Mining is an Australian ASX-listed (CHN) critical minerals explorer-developer advancing the 100%-owned Gonneville Palladium-Nickel-Copper Project in Western Australia toward a targeted H1 CY28 Final Investment Decision, with first production expected in early 2030.

Ownership category

akta.pro rank

Product category

Critical Minerals Mining

NAICS

Copper, Nickel, Lead, and Zinc Mining (212230)

SIC

Metal Mining (1000)

akta.pro primary industry

Exploration & Resource Development (Critical Minerals) (IMAKAFAL)

Keywords

• Critical minerals mining
• Palladium nickel exploration
• Platinum group metals
• Mineral resource development
• Copper cobalt gold mining

Headquarters

HQ city

Perth

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Others

Revenue model

1. Future Critical Minerals Production: Once the Gonneville Project reaches production (targeted early 2030), Chalice will generate revenue through the sale of critical minerals concentrates (palladium, platinum, gold, nickel, copper, cobalt). The company has signed a strategic MOU with Mitsubishi Corporation covering technical cooperation, financing arrangements, and offtake agreements targeting H2 CY27 completion. Production is planned in two stages with ore processing through conventional crush-grind-flotation-leach.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core offering

Chalice Mining is a pre-production specialist explorer and developer of critical minerals. Its core asset is the 100%-owned Gonneville Palladium-Nickel-Copper Project in Western Australia, hosting approximately 17Moz of PGMs, 960kt nickel, 540kt copper and 96kt cobalt. The company also holds a portfolio of regional greenfield exploration projects across Australia under the West Yilgarn Ni-Cu-PGE Province and other jurisdictions. Planned processing uses a conventional crush-grind-flotation-leach circuit producing mineral concentrates for sale to enterprise offtake partners.

Product overview

Chalice Mining is a globally recognised explorer-developer based in Western Australia with a primary focus on critical minerals development. The company's main product is the Gonneville Palladium-Nickel-Copper Project, a tier-1 scale development stage mining project containing approximately 17Moz PGM, 960kt nickel, 540kt copper and 96kt cobalt. The product portfolio includes the Gonneville Project as the core development asset, alongside multiple exploration projects across Australia including the Julimar Nickel-Copper-PGE Project (surrounding Gonneville), Kings Project, Northam Resources Joint Venture, Warrego North Copper-Gold Project, Callabonna Copper-Gold Project (earn-in with Red Metal), Barrabarra Gold-Copper Project, South West Nickel-Copper-PGE Project, and Voyager Gold Project. The company completed the Pre-Feasibility Study in December 2025 and is progressing toward a Bankable Feasibility Study and Final Investment Decision targeted for H1 CY28, with first production expected in early 2030.

Differentiator

Problem solved

Functional benefit

Products and services

• Gonneville Palladium-Nickel-Copper Project A 100%-owned development project on Chalice-owned farmland approximately 70km north-east of Perth, Western Australia. The project hosts a tier-1 scale 660Mt Mineral Resource containing approximately 17Moz of platinum group metals (palladium, platinum, gold), 960kt nickel, 540kt copper and 96kt cobalt, plus a 260Mt Ore Reserve. Granted WA Strategic Project and Australian Federal Major Project status; targeting Final Investment Decision in H1 CY28 and first production in early 2030. Intended for sale to enterprise offtake partners and global natural resources companies.
• Julimar Nickel-Copper-PGE Project Exploration licence covering approximately 350km2 surrounding the Gonneville Project, located north-east of Perth in the West Yilgarn Ni-Cu-PGE Province. Centred on the over 30km long Julimar Complex, a newly recognised intrusive geological belt prospective for magmatic sulphide mineralisation.
• Kings Project Covers approximately 1,600km2 located north-east of Perth in the West Yilgarn Ni-Cu-PGE Province. Contains the Hardtack target, a new approximately 7km x 700m north-south trending gold-in-soil anomaly positioned on the regionally significant suture zone.
• Northam Resources Joint Venture Project An earn-in joint venture comprising an area of approximately 1,300km2 located in the central Wheatbelt of WA between the towns of Kauring and Yerecoin. Chalice is earning in to 70% through exploration programmes. Includes the Deep Blue Target with a approximately 2.5km long copper-molybdenum-silver soil anomaly and Wongamine gold prospect.
• Warrego North Copper-Gold Project Located in the Tennant Creek Mineral Field in the Northern Territory, targeting iron oxide copper-gold (IOCG) mineralisation associated with ironstones. Located along strike from the historic Warrego Mine.
• Callabonna Copper-Gold Project Earn-in joint venture with Red Metal Limited in northern South Australia within the Curnamona Province, prospective for iron oxide copper-gold (IOCG) mineralisation. Chalice can earn between 65% and 72.5% by spending a minimum A$6 million on exploration over four years, including at least two basement drill tests within the first year.
• Barrabarra Gold-Copper Project Covers an area of approximately 3,600km2 located east of Geraldton within the West Yilgarn Au-Cu and Ni-Cu-PGE Province. Targeting gold-copper systems such as Boddington (approximately 40Moz).
• South West Nickel-Copper-PGE Project Covers an area of approximately 90km2 located near Yornup within the West Yilgarn Ni-Cu-PGE Province, centred on a mafic-ultramafic complex with strong magnetic signature and anomalous surface geochemistry.
• Voyager Gold Project Comprises a large landholding within the South West Yilgarn, targeting structurally controlled gold systems associated with regional-scale shear zones including the Yandina and Narembeen shear corridors.

Quantifiable outcome

• A$4.7bn cumulative pre-tax free cash flow over mine life with ~2.7 year payback period
• +4 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered flagship, core and minor.

• Odin Partnership LimitedflagshipImplementation/ SI/ Consulting Partner · 1 April 2026Chalice appointed Odin Partnership, founded by former Anglo American CEO Mark Cutifani, as a strategic adviser to advance the Gonneville palladium-nickel-copper project. The senior trio includes Mark Cutifani CBE and Tony O'Neill joining the Chalice Advisory Board. Odin is assisting with development planning, financing strategy, and market positioning, as well as supporting discussions with potential partners and off-takers including Mitsubishi.
• Red Metal LimitedcoreStrategic or Co-development Partner · 1 March 2026Red Metal Ltd entered an earn-in joint venture with Chalice Mining to explore copper-gold prospects at Red Metal's Callabonna project in South Australia's Curnamona Province. Chalice can earn between 65 and 72.5 percent by spending a minimum of $6 million on exploration over four years, including at least two basement drill tests within the first year. The region is considered prospective for Australia's next giant copper-gold deposit.
• Mitsubishi CorporationcoreStrategic or Co-development Partner · 1 July 2024In July 2024, Chalice signed a strategic non-binding MOU with Mitsubishi Corporation to work together on the Pre-Feasibility Study for the Gonneville Project. Mitsubishi is one of Japan's largest conglomerates and a leading global natural resources investor with a successful track record of partnering with global mining companies. The partnership covers technical cooperation, financing arrangements, and offtake agreements targeting H2 CY27 completion, positioning the project to serve Japan's critical minerals supply security objectives and IRA-qualifying market access for North America.
• Encounter Resources Limited (ASX:ENR)minorStrategic or Co-development Partner · 1 January 2024Chalice acquired a strategic investment in Encounter Resources Limited (ASX:ENR), exposing Chalice to Encounter's prospective tenements in the West Arunta Province. This is a minority investment rather than a formal joint venture.
• Northam Resources Joint VentureminorStrategic or Co-development PartnerEarn-in joint venture comprising an area of ~1,300km2 located in the central Wheatbelt of WA. Chalice is earning in to 70% through exploration programmes. Soil sampling identified a ~2.5km long copper-molybdenum-silver soil anomaly at the Deep Blue Target.
• Variscan Mines LimitedminorStrategic or Co-development PartnerEarn-in joint venture partner at the Callabonna Project (EL6318: 51% Red Metal / 49% Variscan Mines) alongside the primary Red Metal JV. Chalice is earning into this project through exploration expenditure.

Scale indicators9 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Panoramic Resources: Australia-listed nickel-copper-cobalt and PGM producer at the Savannah operation in WA. Directly comparable as an ASX-listed Ni-Cu-PGM operator with polymetallic sulphide exposure overlapping Chalice's planned product basket.
• IGO Limited: ASX-listed battery materials and critical minerals producer with Western Australian nickel operations and significant lithium interests. Closely comparable to Chalice as an ASX-focused critical minerals platform targeting clean-energy end markets.
• Sandfire Resources: ASX-listed copper-gold producer with the DeGrussa heritage and Motheo development in Africa. Comparable as a WA-headquartered ASX-listed copper-gold operator with direct relevance to Chalice's Cu-Au by-products and similar Australian development pathways.

Broad incumbents

• Anglo American: Global diversified miner with a major platinum-group metals business via Anglo American Platinum and assets like Mogalakwena in South Africa. Broad incumbent in the PGM and bulk commodities space that overlaps the commodity basket Chalice plans to produce from Gonneville.
• Sibanye-Stillwater: Major global producer of platinum group metals with operations in South Africa and the US Stillwater complex. Highly relevant broad incumbent in the PGM space that defines the market environment Chalice will enter with its Pd-Pt-Au concentrate.
• BHP Group: Diversified major with significant Western Australian nickel operations and broader critical minerals exposure. Comparable as a WA-based diversified miner with nickel output overlapping Chalice's planned Ni-Cu-Co output, while operating at much broader scale.
• South32: ASX-listed diversified miner with Australian base metals operations including nickel and copper. Relevant broad incumbent as another Australia-listed diversified producer that intersects with Chalice's commodity basket and serves similar downstream customers.

Emerging players

• Liontown Resources: ASX-listed lithium developer advancing the Kathleen Valley project in WA. Closely comparable lifecycle and platform profile: an ASX-listed critical minerals developer, securing strategic offtake and going through transition from explorer to producer, with leadership overlap including former Chalice CFO Richard Hacker.
• Pilbara Minerals: ASX-listed lithium developer turned producer at Pilgangoora in WA. Similar ASX-listed emerging critical minerals platform transitioning from developer to producer, targeting electrification end-markets and structuring strategic partnerships similar to Chalice's Mitsubishi MOU.

Regional players

• Poseidon Nickel: ASX-listed nickel-focused developer with WA assets including the Black Swan and Windarra projects. Relevant comparable as another Australian WA-focused nickel sulphide player, with the further direct linkage that Chalice Chair Derek La Ferla also chairs Poseidon.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/chalicemining
• LinkedInlinkedin.com/company/chalice-mining

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Chalice Mining