Name of the Project
Baptiste nickel project.

Location
Decar Nickel District, British Columbia, Canada.

Project Owner/s
FPX Nickel Corp.

Project Description
A prefeasibility study has outlined 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 phases, 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 project will use a conventional processing flowsheet with semiautogenous grinding-mill-based grinding, followed by magnetic separation, froth flotation and a flotation tailings leach circuit.

The project will receive low-carbon power from the BC Hydro provincial electricity transmission grid.

All mine tailings and waste rock are proposed to be managed within one integrated facility that will use openpit prestripping material and waste rock for embankment construction.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at an 8% discount rate, of $2.01-billion and an internal rate of return of 18.6% at $8.75/lb nickel, with a payback of 3.7 years.

Capital Expenditure
$2.18-billion.

Planned Start/End Date
Not stated.

Latest Developments
FPX Nickel has closed the private placement financing with new cornerstone investor Sumitomo Metal Mining, raising C$14.45-million.

The proceeds will be used for exploration and development activities at the project, ongoing environmental baseline activities, feasibility study readiness activities, and general corporate and administrative purposes.

Key Contracts, Suppliers and Consultants
Ausenco Engineering Canada Inc (recovery methods, process plant, on-site infrastructure, capital cost estimate, operating cost estimate, financial model, opportunities, next steps, and refinery option); Carisbrooke Consulting Inc (off-site power); Equity Exploration Consultants (geology); ERM Consultants Canada (environmental, permitting studies); International Metallurgical & Environmental Inc (metallurgy); Knight Piésold (tailings, water management, and geotechnical); Next Mine Consulting (mineral resource estimate); Onsite Engineering (offsite roads and bridges); and TechSer Mining Consultants (mine design and mineral reserve estimate).

Contact Details for Project Information
FPX Nickel Corp, tel +1 604 681 8600 or email info@fpxnickel.com.