en.Wedoany.com Reported - Japan's Nittetsu Mining Co., Ltd. and Eagle Mountain Mining have signed a non-binding 24-month Memorandum of Understanding (MoU) to jointly identify and evaluate new mineral projects. The two companies are already partners in the Oracle Ridge project in Arizona, USA, and this memorandum aims to expand their existing collaboration to a broader scope.

The key minerals targeted for cooperative evaluation include copper, gold, lead, lithium, nickel, silver, and zinc, with other commodities also potentially considered. Target regions cover Australia and North America, with other jurisdictions to be considered on a case-by-case basis. The project stages span from early-stage exploration to more advanced exploration, pre-development, and production assets.

Under the framework of the agreement, both parties will jointly assess the technical, economic, and strategic feasibility of new projects and decide whether to proceed with potential transactions. The MoU imposes no binding obligations and, except for certain non-circumvention clauses, does not require either party to execute any resulting transactions. It is a non-exclusive arrangement, allowing each company to independently or with other parties enter into similar agreements.

Eagle Mountain Mining's Executive Director, Fabio Vergara, recently met with Nittetsu Mining management in Tokyo and visited the latter's R&D center, which will analyze metallurgical samples from the Oracle Ridge project. Shinichiro Mita, General Manager of Nittetsu Mining's Overseas Mineral Resources Business, together with Fabio Vergara, stated that both parties are eager to extend their partnership beyond the Oracle Ridge project. The agreement reflects the quality of the teams and mutual trust, and through collaboration, better results can be achieved in a competitive environment. They look forward to working together to identify, review, and acquire new projects that add value for both sides.