FPX Nickel Refinery Study to be Completed by 2025, Unlocking Major Battery-Grade Nickel Supply

FPX Nickel has announced significant progress in its value engineering studies, positioning the company to develop North America's largest battery metals refinery. The refinery, designed to produce 32,000 tonnes of nickel in nickel sulphate annually, could support the production of around 450,000 electric vehicles each year. These studies have optimized the purification flowsheet, substantially improving the refinery’s operating margin and reducing waste handling and disposal risks.

Building on the 2023 Baptiste Nickel Project preliminary feasibility study, the pilot-scale hydrometallurgical testwork program is well underway, with results expected in October 2024. This work, partially funded by the Canadian government, has further de-risked the project. FPX has now commenced a standalone scoping study, set for completion in Q1 2025, which will provide a detailed technical and economic analysis of the refinery.

FPX Nickel’s Senior Vice President, Projects & Operations, Andrew Osterloh, commented, "Our refinery value engineering studies have significantly strengthened the business case for a standalone refinery to convert awaruite concentrate into battery-grade nickel sulphate. This project represents a unique opportunity to enhance North America's battery material supply chain without the need for additional smelting capacity."