{"id":6955,"date":"2024-07-30T13:42:45","date_gmt":"2024-07-30T13:42:45","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/07\/30\/fpx-nickel-adopts-best-in-class-technology-to-reduce-baptistes-carbon-intensity-and-receives-bc-hydro-support\/"},"modified":"2024-07-30T13:42:45","modified_gmt":"2024-07-30T13:42:45","slug":"fpx-nickel-adopts-best-in-class-technology-to-reduce-baptistes-carbon-intensity-and-receives-bc-hydro-support","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/07\/30\/fpx-nickel-adopts-best-in-class-technology-to-reduce-baptistes-carbon-intensity-and-receives-bc-hydro-support\/","title":{"rendered":"FPX Nickel Adopts Best-in-Class Technology to Reduce Baptiste\u2019s Carbon Intensity and Receives BC Hydro Support"},"content":{"rendered":"
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FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (\u2018 FPX Nickel \u2018 or the \u2018 Company \u2018) is pleased to provide an update on value engineering (\u2018 Value Engineering \u2018) studies that have improved the conceptual mine plan and facilities of the Baptiste Nickel Project (\u2018 Baptiste \u2018 or\u00a0\u2018 the Project \u2018) in central British Columbia . Results of the mine Value Engineering studies have identified improvements to project economics and mine operability, and a significant reduction to Baptiste\u2019s greenhouse gas emissions estimate and the resultant carbon intensity.<\/p>\n

Highlights <\/p>\n

Optimization of the Baptiste mine plan and application of trolley-assist haul truck systems has improved operability and reduced overall diesel consumption by approximately 50% FPX has received funding support from BC Hydro that will enable Baptiste to commence interconnection studies in the second half of 2024, advancing electrification of the project and supporting BC\u2019s and Canada\u2019s <\/span> critical minerals strategy <\/p>\n

\u2018Our plans to adopt best-in-class mining technologies are expected to enable Baptiste to be one of the lowest-carbon nickel operations in the world. \u00a0The optimization of our approach to mine planning highlights our made-in- Canada <\/span> advantage. British Columbia\u2019s <\/span> clean power underpins Baptiste\u2019s potential for responsible production of high-value nickel units that will support decarbonization of the global economy. We are grateful for BC Hydro\u2019s support as we move toward entry into the provincial and federal environmental assessment process in 2025.\u2019 <\/p>\n

\u2018FPX Nickel is setting new global standards in responsibly mined high-value nickel, exemplifying British Columbia\u2019s <\/span> leadership in environmental, social, and governance practices. Mining and mineral exploration are a foundational part of our transition to a low-carbon future, and projects like this one will help us build a stronger and more sustainable British Columbia <\/span> where our hard work benefits everyone. I congratulate FPX Nickel on their progress on this world-class project.\u2019 <\/p>\n

The Honourable\u00a0Josie Osborne, British Columbia\u2019s <\/span> Minister of Energy, Mines and Low Carbon Innovation <\/p>\n

Background <\/p>\n

The Baptiste 2023 preliminary feasibility study (\u2018 PFS \u2018) 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\u2019s September 6, 2023 <\/span> news release). \u00a0Due to awaruite\u2019s properties, Baptiste has the unparalleled flexibility to produce either a high-grade concentrate (60% nickel) for direct feed into the stainless steel industry (the \u2018 Base Case \u2018) or for further refining into battery-grade nickel and cobalt products for the electric vehicle battery supply chain (the \u2018 Refinery Option \u2018). <\/p>\n

While the PFS presents robust economics, including a Base Case after-tax NPV 8% of US$2.01 Billion <\/span> and after-tax IRR of 18.6% at US$8.75 <\/span> \/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. <\/p>\n

The key Value Engineering studies pursued by FPX in 2024 are: <\/p>\n

Mineral processing (see the Company\u2019s July 10, 2024 <\/span> news release) Mine planning and engineering (described herein) Refinery planning (to be completed in the third quarter of 2024) <\/p>\n

Baptiste Carbon Intensity <\/p>\n

The Baptiste PFS reported life-of-mine (\u2018 LOM \u2018) average carbon intensity of 2.4 tCO 2 e\/tNi on a Scope 1+2 basis. \u00a0Approximately 85% of this PFS carbon intensity is due to diesel consumption, with the remainder from other fuels (propane and gasoline), minor use of limestone for neutralization in the process plant, and minor contribution from BC Hydro\u2019s grid electricity emission intensity factor (11.3 tCO 2 e\/Gwh in 2023). <\/p>\n

Following the Value Engineering work described herein, the Baptiste carbon intensity has been reduced to a LOM average of 1.2 tCO 2 e\/tNi, representing a 50% reduction from the reported PFS value.\u00a0 This value would place Baptiste within the lowest decile of current global nickel production. <\/p>\n

\n<\/div>\n

According to Skarn Associates, a mining sustainability consultancy, approximately 85% of global nickel production in 2023 had a carbon intensity greater than 10 tCO 2 e\/tNi, and approximately 70% of global nickel production had a carbon intensity greater than 30 tCO 2 e\/tNi. <\/p>\n

BC Hydro Support <\/p>\n

FPX has enjoyed a positive relationship with BC Hydro, working closely through our project development activities to evaluate potential grid connection scenarios.\u00a0 BC Hydro will provide funding support to FPX as the Company formally enters the grid connection queue in the second half of 2024 with the initiation of a System Impact Study (\u2018 SIS \u2018) for Baptiste. <\/p>\n

Mine Value Engineering Studies <\/p>\n

The mine Value Engineering studies focused on optimization of the PFS mine plan through the following parameters: <\/p>\n

Design criteria, Equipment selection, Autonomous haulage technology; and Lower-carbon haulage technology. <\/p>\n

Design Criteria and Equipment Selection <\/p>\n

An evaluation of key design criteria and equipment selection has demonstrated improved economics and tangible carbon intensity reductions through increasing bench heights and haulage equipment size. The now 15 m <\/span> bench heights (vs. 10 m <\/span> in the PFS) and 400-ton class haul trucks (vs. 300-ton class in the PFS) have resulted in improved loading equipment efficiency, reduced haul truck counts, and optimization of ore and waste quantities on a year-to-year basis, all without material impact to initial capital costs. <\/p>\n

Additionally, further engagement with haul truck vendors on benchmarkable diesel consumption rates indicate the PFS considered an overly conservative diesel consumption rate. \u00a0The total impact of these design criteria and equipment selection evaluations improve project economics and mine operability while reducing the average life of mine (\u2018 LOM \u2018) diesel consumption by approximately 20%. <\/p>\n

Autonomous Haulage Technology <\/p>\n

An evaluation of autonomous haulage system (\u2018 AHS \u2018) technology has demonstrated reduced mine operating costs along with means to improving Baptiste\u2019s post-expansion operating basis. \u00a0Two scenarios were evaluated, including (1) implementation of an AHS as part of the initial mine construction (\u2018 Phase 1 \u2018); and (2) implementation of an AHS for the planned mine expansion (\u2018 Phase 2 \u2018) from a processing throughput of 108,000 tonnes per day (\u2018 tpd \u2018) to 164,000 tpd. <\/p>\n

With the increased mining rate in Phase 2, the Value Engineering study concluded that the adoption of AHS will reduce mine operating costs without impacting initial capital costs. \u00a0Adoption of AHS in Phase 2 will allow personnel serving as haul truck operators in Phase 1 to be uptrained for positions within the expanded Phase 2 operations, thereby providing new opportunities to the Phase 1 mine haulage workforce while also mitigating the expanded work force requirements. <\/p>\n

Lower-Carbon Haulage Technology <\/p>\n

An evaluation of mine haulage technology has yielded significant carbon intensity reductions. \u00a0With 85% of the PFS carbon intensity associated with haul truck diesel consumption, the application of lower-carbon mine haulage technologies is the most direct means to reduce Baptiste\u2019s carbon intensity. \u00a0This evaluation considered trolley-assist haulage systems, such as that successfully implemented at the Copper Mountain Mine in southern British Columbia <\/span> , while further evaluations during the FS will also consider battery-powered haul trucks, hydrogen-powered haul trucks, and other emerging technologies. <\/p>\n

A series of trolley assist system concepts were evaluated, including in-pit systems, ex-pit systems, and combinations thereof. Ultimately, a scenario adding an in-pit system for operating year 5 and an ex-pit system for operating year 8 results was selected. The net result of the in- and ex-pit trolley assist systems is an approximate 30% reduction in total LOM diesel consumption without impacting the Project\u2019s initial capital intensity. <\/p>\n

Carbon Sequestration in Mine Waste and Tailings <\/p>\n

Due to their ultramafic mineralization, Baptiste\u2019s mine waste and tailings have the potential to sequester carbon dioxide through carbonation of brucite, serpentine, and other magnesium-based minerals. \u00a0For reference, Baptiste\u2019s tailings will contain an average of 1% brucite. \u00a0This has been demonstrated through multiple field- and lab-based testwork campaigns in tandem with the University of British Columbia <\/span> , as well as carbonation modelling work with independent consultants. \u00a0FPX continues to pursue means to promote carbon sequestration in the Baptiste tailings facility; however, in line with our conservative approach to project development, no benefit thereof is currently considered within Baptiste\u2019s project economics or carbon intensity. \u00a0As such, carbon sequestration within Baptiste mine waste and tailings is considered to be a future potential economic and environmental opportunity. <\/p>\n

About the Decar Nickel District <\/p>\n

The Company\u2019s 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.\u00a0 The Baptiste mineral claims cover an area of 408 km 2 , west of Middle River <\/span> and north of Trembleur Lake, in central British Columbia.\u00a0 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.\u00a0 Since 2010, approximately US $30 million <\/span> has been spent on the exploration and development of Baptiste. <\/p>\n

The Baptiste Deposit is located within the Baptiste Creek watershed, on the traditional territories of the Tl\u2019azt\u2019en Nation and the Binche Whut\u2019en, and within several Tl\u2019azt\u2019enne and Binche Whut\u2019enne keyohs. FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders. <\/p>\n

About FPX Nickel Corp. <\/p>\n

FPX Nickel Corp.\u00a0 is focused on the exploration and development of the Decar Nickel District, located in central British Columbia <\/span> , and other occurrences of the same distinctive style of awaruite nickel-iron mineralization. <\/p>\n

On behalf of FPX Nickel Corp. <\/p>\n

\u2018Martin\u00a0Turenne\u2019
Martin Turenne <\/span> , President, CEO and Director
Email: ceo@fpxnickel.com
Phone: 604-681-8600 <\/p>\n

Forward-Looking Statements <\/p>\n

Certain of the statements made and information contained herein is considered \u2018forward-looking information\u2019 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\u2019s 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. <\/p>\n

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. <\/p>\n

\n<\/div>\n

SOURCE FPX Nickel Corp. <\/p>\n

View original content to download multimedia: http:\/\/www.newswire.ca\/en\/releases\/archive\/July2024\/30\/c4553.html <\/p>\n<\/div>\n<\/div>\n

News Provided by Canada Newswire via QuoteMedia<\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (\u2018 FPX Nickel \u2018 or the \u2018 Company \u2018) is pleased to provide an update on value engineering (\u2018 Value Engineering \u2018) studies that have improved the conceptual mine plan and facilities of the Baptiste Nickel Project (\u2018 Baptiste \u2018 or\u00a0\u2018 the Project \u2018) in central British Columbia […]<\/p>\n","protected":false},"author":0,"featured_media":6956,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-6955","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/6955","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=6955"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/6955\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/6956"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=6955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=6955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=6955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}