FPX Nickel Commences Scoping Study to Develop North America's Largest Nickel Sulphate Refinery for the EV Battery Market

FPX Nickel Commences Scoping Study to Develop North America's Largest Nickel Sulphate Refinery for the EV Battery Market

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX Nickel " or the " Company ") is pleased to provide an update on value engineering (" Value Engineering ") studies that have substantially improved the operating margin and reduced the risk profile for an awaruite concentrate refinery to produce battery-grade nickel sulphate. Building on this improved business case and incorporating results from the ongoing pilot-scale hydrometallurgical testwork program, FPX has commenced the development of a standalone refinery study which will be completed in the first quarter of 2025.

Highlights

  • Value engineering studies highlight the strategic opportunity for FPX Nickel to develop North America's largest battery metals refinery, with the capacity to produce 32,000 tonnes of nickel in nickel sulphate per year, enough to build about 450,000 electric vehicles annually
  • Building on previous engineering work outlined in the 2023 Baptiste Nickel Project (" Baptiste ") preliminary feasibility study, optimization of the purification flowsheet has substantially improved the refinery operating margin while reducing waste handling and disposal risk
  • Pilot-scale testwork of the refinery flowsheet, with funding support from the Government of Canada , is well progressed and results will be reported in October 2024
  • FPX has commenced a standalone scoping study for the battery metals refinery, which will include a detailed technical and economic analysis, for publication in the first quarter of 2025

"Our refinery Value Engineering studies have substantially improved the business case and reduced the risk profile for a standalone refinery to convert awaruite concentrate into battery-grade nickel sulphate," commented Andrew Osterloh , the Company's Senior Vice President, Projects & Operations. "Awaruite presents an unparalleled opportunity to significantly expand North America's battery material supply chain, all without the need to either displace or add smelting capacity. As we close-out our Value Engineering for Baptiste, we are excited at the new value basis for our large-scale, long-life, high margin, and low-carbon project."

Background

The Baptiste 2023 preliminary feasibility study (" PFS ") demonstrates the potential to develop a high-margin and low-carbon nickel mine producing an average of 59,100 tonnes per year of nickel over a 29-year mine life (see the Company's September 6, 2023 news release). Due to awaruite's properties, Baptiste has the unparalleled flexibility to produce a high-grade concentrate (60% nickel) for either direct feed into the stainless steel industry (the " Base Case ") or for further refining into battery-grade nickel and cobalt products for the electric vehicle battery supply chain (the " Refinery Option ").

While the PFS presents robust economics, including a Base Case after-tax NPV 8% of US$2.01 Billion and after-tax IRR of 18.6% at US$8.75 /lb. Ni, FPX continues to strive towards adding further value to Baptiste, focusing on a holistic blend of economics, constructability, operability, risk and ESG considerations.

The key Value Engineering studies pursued by FPX in 2024 are:

  • Mineral processing (see the Company's July 10, 2024 news release)
  • Mine planning and engineering (see the Company's July 30, 2024 )
  • Refinery planning (described herein)

Refinery Engineering Studies

To demonstrate Baptiste's strategic flexibility to also produce nickel and cobalt for the battery material supply chain, the Refinery Option in the 2023 PFS envisioned the development of a standalone refinery to produce battery-grade nickel from awaruite concentrate. Located in an urban setting in central British Columbia , the refinery would benefit from the infrastructure, services, and labour which would be available at an integrated battery material processing hub, such as those being developed in eastern Canada and other locations worldwide.

Earlier this year, FPX commissioned a detailed technical review of the 2023 PFS Refinery Option, and executed refinery Value Engineering studies. No major risks were identified in the review of the PFS Refinery Option, and several tangible opportunities were highlighted for further evaluation during both the Value Engineering and subsequent study stages.

Most notable of the identified near-term opportunities was the refinery reagent scheme. The PFS Refinery Option assumed the use of caustic (a.k.a. sodium hydroxide, NaOH) as the neutralizing base, with caustic accounting for approximately 60% of the total operating cost. The use of caustic generates sodium sulphate (Na 2 SO 4 ) as a byproduct, which is a low value commodity, has limited industrial uses, and is projected to be in significant over-supply as the battery material supply chain further develops.

Following a review of all potential reagent schemes, an ammonia-based flowsheet was selected as the best value for further evaluation. The ammonia-based flowsheet is similar to the sodium hydroxide flowsheet, except ammonia gas (or ammonium hydroxide when dissolved in water) is the reagent used in the process plant in solvent extraction operations. A similar flowsheet is used in Terrafame's nickel sulphate refinery in Finland . See Figure 1 for a block flow diagram of the new refinery flowsheet.

Figure 1: Awaruite Refinery – Updated Block Flow Diagram (CNW Group/FPX Nickel Corp.)

Modifying the refinery flowsheet to an ammonia-based reagent scheme results in an immaterial increase to capital costs, but a material decrease in operating costs (given the significantly lower consumption rate for ammonia versus caustic). Additionally, the waste product of sodium sulphate, for which zero value was ascribed in the PFS Refinery Option, is now replaced by ammonium sulphate, a valuable fertilizer product. In addition to generating a significant new value source with a more stable future market outlook, the production of ammonium sulphate eliminates the previous waste handling/disposal risk associated with sodium sulphate production. Overall, this change results in a significant improvement to the operating margin and reduction in the project risk profile.

Refinery Testwork with Funding Support from Natural Resources Canada

The previously announced pilot-scale testwork of the refinery flowsheet (see the Company's April 30, 2024 news release) is progressing well, with results forecast for release to the market in October 2024 . In addition to pilot-scale testwork of the leaching circuit, batch-scale testwork will be completed of the purification flowsheet up to production of nickel sulphate.

The pilot testing campaign was funded in part by a $725,000 grant from Natural Resources Canada (" NRCan ") under the Government of Canada's Critical Minerals Research, Development and Demonstration (" CMRDD ") program, which is advancing the commercial readiness of processing technologies that will support the development Canada's EV battery material supply chain.

Refinery Scoping Study

Incorporating results of the refinery Value Engineering and testwork programs, FPX has commenced the preparation of a standalone awaruite refinery scoping study. Considering current off-take rights that have been granted to strategic investors, the refinery will have a capacity of 32,000 tonnes per year of contained nickel in battery-grade nickel sulphate. For the purposes of this study, the refinery location will continue to consider an urban location within central British Columbia .

Along with the improved business case and reduced risk profile, the standalone study will better present the strategic opportunity to meaningfully increase North America's battery material supply chain capacity without the need to construct new smelting or complex primary refining capacity. The scoping study, which will contain a detailed evaluation of capital, operating costs and the overall economics of the awaruite refinery, will be published in the first quarter of 2025.

Andrew Osterloh , P.Eng., FPX Nickel's Qualified Person under NI 43-101, has reviewed and approved the technical content of this news release.

About the Decar Nickel District

The Company's Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni 3 Fe) hosted in an ultramafic/ophiolite complex. The Baptiste mineral claims cover an area of 408 km 2 , west of Middle River and north of Trembleur Lake, in central British Columbia . In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit. Since 2010, approximately US $30 million has been spent on the exploration and development of Baptiste.

The Baptiste deposit is located within the territories, keyohs, and consultative boundaries of the Tl'azt'en Nation, Binche Whut'enne, Yekooche First Nation, and Takla Nation .

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same distinctive style of awaruite nickel-iron mineralization.

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director
Email: ceo@fpxnickel.com
Phone: 604-681-8600

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

FPX Nickel Corp. logo - TSX-V:FPX (CNW Group/FPX Nickel Corp.)

SOURCE FPX Nickel Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2024/16/c6952.html

News Provided by Canada Newswire via QuoteMedia

FPX:CA
FPX Nickel

FPX Nickel Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
FPX Nickel (TSXV:FPX)

FPX Nickel


Keep reading...Show less

Exploring and developing the high-margin Baptiste nickel project in Canada

FPX Nickel Announces Results of 2025 Annual General and Special Meeting

FPX Nickel Announces Results of 2025 Annual General and Special Meeting

 FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce the results of its 2025 Annual General and Special Meeting held on June 26 2025.

FPX Nickel logo (CNW Group/FPX Nickel Corp.)

Shareholders voted in favour of all items put forward by the Board of Directors and Management. Shareholders elected eight directors to the Company's Board, namely, Kim Baird , Peter M.D. Bradshaw , Anne Currie , James S. Gilbert , Peter J. Marshall , Andrew Osterloh , Robert B. Pease and Martin E. Turenne . The shareholders approved all other matters as proposed, including the appointment of DeVisser Gray LLP as the auditor of the Company and approval of the Company's 10% rolling share compensation plan.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at https://fpxnickel.com/ or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2025/27/c9286.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
FPX Nickel Completes Production Run of Battery-Grade Nickel Sulphate to Support Discussions with Prospective EV Battery Supply Chain Partners

FPX Nickel Completes Production Run of Battery-Grade Nickel Sulphate to Support Discussions with Prospective EV Battery Supply Chain Partners

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce successful production of additional battery-grade nickel sulphate from its Baptiste Nickel Project (" Baptiste " or the " Project "). Building on the success of previous testing campaigns, a production run was completed to produce larger quantities of nickel sulphate crystals. The nickel sulphate samples, which meet the strict target specifications for battery applications, will be provided to selected prospective downstream partners including pCAM producers, battery companies, and automakers pursuing supply security, traceable sourcing, and low carbon intensity production.

"The production of high-purity nickel sulphate further positions us to engage in strategic discussions with prospective downstream partners across the global EV supply chain," commented Martin Turenne , FPX Nickel's President and Director. "This milestone further demonstrates the strategic flexibility of the Baptiste awaruite concentrate and the technical maturity of the awaruite refining process."

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
FPX Nickel and JOGMEC Initiate Exploration at the Expanded Klow Property in British Columbia

FPX Nickel and JOGMEC Initiate Exploration at the Expanded Klow Property in British Columbia

FPX Nickel Corp. (TSX-V: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce planned exploration activities at the Company's Klow property (" Klow " or the " Property "), located 45 km north of the Company's Baptiste Nickel Project. Exploration will be 100% funded by the Japan Organization for Metals and Energy Security (" JOGMEC ") under the terms of an earn-in agreement which provides JOGMEC the option to earn up to a 60% interest in the Property. The Company has recently expanded the mineral claims at Klow by 600%, bringing the Property to 164 km 2 and is currently preparing a wide-ranging surface rock sampling program over the summer of 2025 with the goal of advancing Klow to drill-ready status.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
FPX Nickel Provides Update on Affiliate Company CO2 Lock Corp.

FPX Nickel Provides Update on Affiliate Company CO2 Lock Corp.

 FPX Nickel Corp. (TSX-V: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to provide an update on the activities of its affiliate company, CO2 Lock Corp. (" CO2 Lock ").

FPX Nickel logo (CNW Group/FPX Nickel Corp.)

Background

In 2022, FPX announced the formation of CO2 Lock as a self-funding subsidiary to pursue geoscience-related carbon capture and storage (" CCS ") opportunities via permanent mineralization of carbon dioxide. FPX retains 100% of the carbon credits associated with CCS on FPX's own properties, and can use any intellectual property developed by CO2 Lock for the benefit of FPX's own properties.

Since its inception, CO2 Lock has completed multiple field programs at its flagship SAM site in central British Columbia , including a successful CCS field program in 2023, which included drilling an exploration well. This achievement marked a significant milestone in the development of CO2 Lock's innovative in-situ CO 2 mineralization technology.

Commercial Updates

In recent months, CO2 Lock has achieved several commercial milestones, including the signing of preliminary agreements with key counterparties in the CCS value chain as follows:

  • Letter of Intent with Cielo Carbon Solutions (" Cielo ") and Carbon Quest outlining the framework for capturing and sequestering 100,000 tonnes of CO 2 per year, scaling up to a target of 1 million tonnes per year. This strategic relationship combines Cielo and Carbon Quest's point-source carbon capture solution with CO2 Lock's storage solution to create an end-to-end value chain from industrial emitters to the permanent storage of carbon dioxide.

  • Memorandum of Understanding with Ionada Carbon Solutions LLC (" Ionada ") to pursue a variety of commercial arrangements relating to the capture and storage of carbon dioxide and the related sale of carbon credits into the commercial market. The collaboration will integrate Ionada's proprietary carbon capture technology with CO2 Lock's permanent mineralization storage solutions, creating end-to-end carbon capture storage systems that are cost-effective and scalable.

  • Letter of Intent with a leading carbon marketplace platform (the " Platform "), under which the Platform will purchase up to 33% of the carbon credits generated annually from CO2 Lock's flagship SAM carbon sequestration site, representing the potential for over 300,000 verified carbon credits (tonnes) per year.

Following the successful field program in 2023, CO2 Lock has submitted an application for a carbon capture and storage exploratory reservoir license with British Columbia's Ministry of Energy and Climate Solutions. Receipt of this license would provide CO2 Lock with the regulatory approval to advance the project towards commercial operations at the SAM project.

CO2 Lock Financing and Restructuring

CO2 Lock recently completed the final $600,000 tranche of its latest funding round, which raised a cumulative total of $1.7 million through a Simple Agreement for Future Equity (" SAFE ") from third-party investors. Since its inception, CO2 Lock has raised a total of approximately $3.4 million from third-party investors.

In connection with the closing of the SAFE round, FPX and CO2 Lock have agreed to a restructuring of CO2 Lock's capital structure such that FPX's undiluted ownership interest in CO2 Lock has been reduced from approximately 88% (prior to the SAFE round) to 30% (on conclusion of the SAFE round). This restructuring better positions CO2 Lock to seek additional funding from third party investors going forward, while ensuring that FPX retains a meaningful ownership interest in CO2 Lock and enduring rights to utilize CO2 Lock's intellectual property for the benefit of FPX's own properties.

About FPX Nickel Corp.

FPX Nickel Corp.  is focused on the exploration and development of the Baptiste Nickel Project, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite.  For more information, please view the Company's website at https://fpxnickel.com/ or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2025/20/c0028.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
FPX Nickel Announces Board and Management Changes

FPX Nickel Announces Board and Management Changes

FPX Nickel Corp. (TSX-V: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce the appointment of Dan Apai, P. Eng., as the Company's Vice President, Projects effective May 1, 2025 . Mr. Apai succeeds Andrew Osterloh who will be departing his role as a Company employee on May 9, 2025 . Further, the Company is pleased to announce that Mr. Osterloh will be nominated for election as a Board member at the Company's annual general meeting to be held on June 26, 2025 .

FPX Nickel logo (CNW Group/FPX Nickel Corp.)

Martin Turenne , President and CEO of FPX stated, "On behalf of the Board of Directors, I would like to thank Andrew for his dedication and service to the Company. During Andrew's tenure and under his leadership, the Company has significantly improved the development basis for the Baptiste Nickel Project, including progressing technical maturity in the areas of metallurgy, engineering, and execution planning. We are grateful for his efforts and wish him the very best going forward."

Mr. Turenne continued, "I am delighted to welcome Dan to our senior management team. Dan has been a valuable contributor since he joined the Company in January 2023 as our Engineering Manager. Dan brings a wealth of knowledge from prior experience developing and commissioning multiple large-scale projects and his deep familiarity with Baptiste will ensure a smooth transition as we further advance the Project."

"We are very happy to welcome Andrew to the FPX Board," commented the Company's Chairman, Peter Bradshaw . "Andrew has demonstrated exceptional leadership in progressing Baptiste through the development of the prefeasibility and refinery studies. His deep understanding of the Project and strategic insights will be a significant asset to our Board. We look forward to his contributions as a Board member to the Company's continued success."

Mr. Osterloh joined FPX in June 2021 , bringing with him extensive experience from project management roles at Fluor Canada and site operations positions at several notable mining projects, including Eskay Creek (that is now being redeveloped by Skeena Gold & Silver) and Huckleberry, operated by Imperial Metals, both located in British Columbia . Mr. Osterloh will be assuming the role of VP, Engineering & Construction at Skeena Gold & Silver, as the Company undertakes redevelopment of the Eskay Creek Project.

Mr. Apai, the Company's Engineering Manager since January 2023 , has over twenty years' mining industry experience in civil engineering and engineering management over a diverse range of projects. As Principal Civil Engineer for Fluor Canada, he led study and detailed engineering works for numerous large-scale mining projects for clients including Teck, Newmont, BHP, First Quantum, Glencore, Josemaria Resources, and Newcrest. Dan's technical expertise includes site layout, earthworks, water management, linear facilities (i.e., roads, powerlines, pipelines), and water supply systems – all elements that strongly influence the capital intensity, permitability, and operability of mining projects. Mr. Apai is a Member of the Association of Professional Engineers of British Columbia and holds a Bachelor of Engineering from the University of Western Australia .

About the Baptiste Nickel Project

The Company's Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni 3 Fe) hosted in an ultramafic/ophiolite complex. The absence of sulphur and our ability to connect to the BC Hydro grid means that Baptiste has the potential to be one of the lowest carbon-intensive nickel producers in the world and will produce a very high grade product that does not required any intermediate smelting or complex refining. The Baptiste mineral claims cover an area of 453 km 2 west of Middle River and north of Trembleur Lake, in central British Columbia . In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit. Since 2010, approximately US$55 million has been spent on the exploration and development of Baptiste.

FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Baptiste Nickel Project, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at https://fpxnickel.com/ or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2025/29/c3955.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Nuvau Announces Voting Results of Its Annual and Special Meeting of Shareholders and Announces the Appointment of Steven Bowles as Chair of the Board

Nuvau Announces Voting Results of Its Annual and Special Meeting of Shareholders and Announces the Appointment of Steven Bowles as Chair of the Board

 Nuvau Minerals Inc. (TSXV: NMC) (the "Company" or "Nuvau") is pleased to announce the results of its annual and special meeting of shareholders of the Company (the "Meeting") held on June 26, 2025.

A total of 18,122,588 common shares of the Company ("Common Shares") were represented, in person or by proxy, at the Meeting, representing approximately 35.5% of the total issued and outstanding common shares as of the record date of the Meeting.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
FPX Nickel

FPX Nickel Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×