FPX Nickel announces $16 million investment from steel producer

FPX Nickel has announced a $16 million equity investment from stainless steel producer Outokumpu. FPX is focused on the exploration and development of the Decar Nickel District, located in central British Columbia.

FPX CEO Martin Turenne said the investment is significant. “This strategic investment by Outokumpu represents a significant technical validation of FPX’s Baptiste Nickel Project, and underscores Canada’s critical role as a supplier of choice to allied industrial partners in Europe and the United States,” commented Turenne. “Outokumpu is a large and highly-regarded global operator, with a robust track record of producing the world’s most sustainable stainless steel, and is a significant nickel consumer.

“Our partnership with Outokumpu testifies to Baptiste’s potential to produce a premium nickel product that can bypass the intermediate smelting stage, thus becoming a highly sought-after feedstock for the responsible production of low-carbon finished products in multiple consumer and industrial markets, including stainless steel.  FPX is pleased to be Outokumpu’s preferred partner as they look to secure the sustainable, long-life nickel units which are best aligned with their strategic objectives.”