Name of the Project
Baptiste nickel project.

Location
Decar Nickel District, British Columbia, Canada.

Project Owner/s
FPX Nickel Corp.

Project Description
A prefeasibility study has outlined an openpit mining project that will produce an average of 59 100 t/y of nickel in concentrate over a 29-year mine life.

The project will be developed in phases, with an initial mill throughput rate of 108 000 t/d (Phase 1), followed by an expansion to 162 000 t/d (Phase 2) funded from free cash flow after the initial after-tax payback period of 3.7 years.

The refinery option outlines an off-site refinery to upgrade a portion of nickel-in-concentrate to produce 40 000 t/y of battery-grade nickel sulphate for the electric vehicle battery supply chain. The balance of the concentrate will continue to be directly supplied to the stainless steel industry.  Along with battery-grade nickel sulphate, this option also supports the valorisation of cobalt and copper as refinery by-products. 

All mine tailings and waste rock are proposed to be managed within one integrated facility that will use openpit prestripping material and waste rock for embankment construction.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at an 8% discount rate, of $2.01-billion and an internal rate of return of 18.6% at $8.75/lb nickel, with a payback of 3.7 years.

Capital Expenditure
$2.18-billion.

Planned Start/End Date
Not stated.

Latest Developments
FPX Nickel has received a major boost, as the province of British Columbia has selected the project to be part of the newly established Critical Minerals Office (CMO) concierge service initiative. British Columbia established the office in early 2024 as a pillar of its critical minerals strategy.

The CMO will be a key entry point into the natural resource sector agencies and provide centralised support for the advancement of critical minerals projects, such as Baptiste, and to leverage potential project funding opportunities from provincial and federal sources.

Key Contracts, Suppliers and Consultants
Ausenco Engineering Canada Inc (recovery methods, process plant, on-site infrastructure, capital cost estimate, operating cost estimate, financial model, opportunities, next steps, and refinery option); Carisbrooke Consulting Inc (off-site power); Equity Exploration Consultants (geology); ERM Consultants Canada (environmental, permitting studies); International Metallurgical & Environmental Inc (metallurgy); Knight Piésold (tailings, water management, and geotechnical); Next Mine Consulting (mineral resource estimate); Onsite Engineering (offsite roads and bridges); and TechSer Mining Consultants (mine design and mineral reserve estimate).

Contact Details for Project Information
FPX Nickel Corp, tel +1 604 681 8600 or email info@fpxnickel.com.