TSX-V-listed FPX Nickel has received a major boost as the province of British Columbia has selected the Baptiste nickel project to be part of the newly established Critical Minerals Office (CMO) concierge service initiative.

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 like Baptiste, and to leverage potential project funding opportunities from provincial and federal sources.

“We are grateful that the province of British Columbia has recognised the significance of Baptiste, and believe the CMO initiative provides an excellent structure to proactively identify and address issues and opportunities ahead of the project’s entry into the environmental assessment process,” said FPX president and CEO Martin Turenne.

British Columbia established the CMO in early 2024 as a pillar of its critical minerals strategy.

“The critical minerals sector is foundational for our clean energy future,” commented Energy, Mines and Low Carbon Innovation Minister Josie Osborne. “Projects like FPX Nickel’s Baptiste are essential, as they have the potential to help drive unparalleled growth in the sector, while creating reliable opportunities for both British Columbians and global investors.”

A September 2023 prefeasiblity study has demonstrated the long-life, and large-scale potential of the Baptiste project that can either produce a high-grade concentrate (60% nickel) for direct feed into the stainless steel industry or further refining into battery-grade nickel sulphate, cobalt precipitate, and copper concentrate products for the battery material supply chain.

The base case outlines 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 a phased approach, 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, with the balance of concentrate continuing 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 byproducts. 

The total initial capital cost for the project is estimated to be $2.18-billion, with expansion capital cost of C$763-million.

The Baptiste mineral claims cover an area of 408 km², west of Middle river and north of Trembleur lake, in central British Columbia. In addition to the Baptiste deposit itself, awaruite mineralisation 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, about $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.

“We are committed to deepening our ongoing collaboration with First Nations and the governments of British Columbia and Canada to develop a project that creates substantial and sustainable benefits while protecting the environment for future generations,” added Turenne.