November 22, 2014     Japanese 
	  Network - Home
JCN Newswire
  Home  |  Companies  | Annual Reports  |  CSR  | News Alerts     
ITOCHU and Canada's Kaizen Discovery in Collaborative Mineral Resources Exploration and Development

Tokyo, Feb 3, 2014 (JCN) - ITOCHU Corporation announced today that it has concluded a framework agreement concerning the exploration and development of mineral resources with Kaizen Discovery Inc. ITOCHU has also agreed to acquire approximately 6.35% shares of Kaizen for 5.1 million Canadian dollars.

Kaizen Inc. was established as a group company of I-Pulse Inc. (a group company of Ivanhoe Capital Corporation), and has been involved in exploration and development projects of mineral resources around the world, including the Fairholme copper and gold project in Australia.

With this framework agreement, ITOCHU and Kaizen Inc. have agreed to cooperate mutually in the existing business and new business owned by Kaizen Inc. The two companies will jointly promote the exploration and development of projects that they both agree, mainly targeting base metals and rare metals..

Kaizen Inc. has the right of use of advanced geophysical exploration technologies owned by its parent company, HPX TechCo, capable of efficient geophysical exploration in regions where metallic ore deposits are buried so deep in the ground that they cannot be reached, and in regions that are difficult to explore with conventional technology.

ITOCHU has been promoting the exploration and development of PGMs and Nickel of the Platreef Project in South Africa in collaboration with Ivanhoe Mines Ltd., also an Ivanhoe Capital Corporation group company, since September 2010. ITOCHU will be committed to enhancing collaboration with Ivanhoe Capital Corporation in other fields based on this comprehensive collaboration, aiming for the further expansion of resource interests and profits.

By Chris Lui Staff Writer

Copyright © 2014 JCN. All rights reserved. A division of Japan Corporate News Network KK.

 Company Profile |   Print  |   Alerts
ACN Newswire

 Recent  ITOCHU News  
  ITOCHU Secures Exclusive Import and Distribution Rights of Derek Lam and Derek Lam 10 Crosby Brands  (Nov 13, 2014)
  ITOCHU Art Exhibition Celebrates Year of the Sheep  (Oct 31, 2014)
  ITOCHU: Benefit One Indonesia and MidPlaza Holdings Form Capital Alliance  (Oct 22, 2014)
  ITOCHU Invests in Bellsystem24, Japan's Largest Call Center Provider  (July 30, 2014)
  ITOCHU and Canada's Kaizen Discovery in Collaborative Mineral Resources Exploration and Development  (Feb 3, 2014)
  MHI Receives Follow-up Order for 48 More Cars For the Macau Light Rapid Transit System  (Jan 7, 2014)
  ITOCHU to Construct Africa's Largest Solar Power Plant in South Africa  (June 10, 2013)
  ITOCHU Participates in U.S. Next-Gen Biodiesel Fuel Production  (May 23, 2013)
  ITOCHU to Jointly Develop Molybdenum-Tungsten Project in Kazakhstan  (Feb 26, 2013)
  ITOCHU Acquires IT Service Providers in Malaysia and Singapore  (Feb 25, 2013)

 Recent  Metals & Mining News   
Sumitomo Electric Releases New Sintered Diamond Cutting Tools (Oct 28, 2014)
Sumitomo Electric Develops AC6030M/AC6040M and EM Breaker for Rough Cutting (Oct 27, 2014)
JFE Engineering Myanmar JV Makes First Shipment of a Bridge Block (July 25, 2014)
Suzuki Outboard Motor Achieves Accumulated Global Production of 3 Million Units (July 24, 2014)
IHI to Participate in GE9X Engine Program (July 12, 2014)
Marubeni to Create Minera Centinela, New Mining Company in Chile (July 5, 2014)
Asahi Kasei Develops New Transparent Polymer for Optical Applications (July 2, 2014)
Teijin Develops Advanced Outerwear Fabric (June 16, 2014)
IHI to Supply SPB Tanks for Floating LNG Storage & Regasification Unit for Chinese Wison Group (June 5, 2014)
Yokogawa Wins Order for Saudi Arabia's First Supercritical Thermal Power Plant (May 14, 2014)

More Metals & Mining news...
CSR Report Download
Annual Reports

  More >>    
Most Popular

About JCN | Privacy Policy | Terms of Use | JCN Network (日本語)