(Reuters) - Australian diversified miner Chalice Mining signed an agreement on Wednesday with Japan's Mitsubishi Corp to develop its Gonneville PGE-Nickel-Copper-Cobalt Project, located in Western Australia.

Under the deal, the Japanese conglomerate will collaborate on the technical, financing, marketing and offtake aspects of the project, which is currently undergoing a pre-feasibility study, expected to end by mid 2025.

The memorandum of understanding also provides an intention of a possible strategic partnership with Mitsubishi to develop the greenfield project, the Australian miner added.

The company also said they are targeting a final investment decision on the project in late 2026.

(Reporting by Rajasik Mukherjee in Bengaluru; Editing by Alan Barona)