https://www.engineeringnews.co.za
Mining|PROJECT|Refining|Stainless Steel|Steel|Products
Mining|PROJECT|Refining|Stainless Steel|Steel|Products
mining|project|refining|stainless-steel|steel|products

Sumitomo makes strategic investment in FPX Nickel

18th January 2024

By: Creamer Media Reporter

     

Font size: - +

Major nickel producer Sumitomo Metal and Mining (SMM) has made a C$14.4-million strategic equity investment in FPX Nickel, underscoring the Vancouver-based junior’s view that its Baptiste project is a “class-leading asset”.

The Baptiste project, in central British Columbia, has the potential to produce 59 100 t/y over a 29-year mine life.

“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,” comments FPX president and CEO Martin Turenne.

Under a private placement, FPX will issue 30-million shares to SMM at C$0.38 a share. Upon completion, SMM will own about 9.9% of FPX.

FPX's stock closed 10% lower at C$0.29 a share.

Edited by Creamer Media Reporter

Comments

Latest News

South African bank notes
Rand gains on stronger PMI data
Updated 1 hour 48 minutes ago By: Reuters

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Hanna Instruments Image
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.26 0.315s - 160pq - 2rq
Subscribe Now