“SMM is one of the world’s largest nickel producers, with peer-leading expertise in mining, processing and refining products in the stainless steel and electric vehicle battery supply chains. FPX is pleased to be one of SMM’s preferred partners as they look to expand their nickel production profile and diversify their supply chain to allied partners in North America.”
FPX owns 100% of the Baptiste nickel project in the Decar nickel district of British Columbia, northwest of Fort St. James. This is a large greenfield discovery of naturally occurring awaruite (Ni3Fe). Similar mineralization has been identified in several target areas, but the Baptiste deposit is the most advanced, having reached the prefeasibility phase.
The prefeasibility study completed last year gave the project an after-tax net present value with an 8% discount of C$2.75 billion. The after-tax internal rate of return is 18.6% using a nickel price of…
