FPX will retain 100% of the carbon credits associated with CCS on its own properties and will retain the right to use any intellectual property developed by CO2 Locking FPX-specific properties.
CO2 Lock will now proceed with an independent management team to develop carbon sequestration operations in geologic environments around the world with similarities to FPX’s Decar nickel district, building on five years of research conducted with partners including the University of British Columbia and Natural Resources Canada.
“Since 2016, FPX has been at the forefront of applying basic science to assess the potential for large-scale permanent SCC in brucite-rich serpentinized peridotites, and we anticipate the launch of CO2 Lock to significantly accelerate these efforts going forward,” commented Martin Turenne, President and CEO of FPX.
Since 2016, FPX has been researching technologies that maximize the reaction between CO2 and brucite (a high content of CO2-reactive mineral form of magnesium hydroxide) present in the host rock of the nickeliferous Decar district, as well as on its secondary properties in British Columbia and the Yukon.
In a natural process called carbon mineralization, CO2 reacts with brucite, and to a much lesser extent with serpentine minerals, in tailings and waste rock, binding CO2 in a solid, benign and stable magnesium carbonate on the geological time scale. Previous tests by UBC researchers confirmed the ability of FPX tailings to mineralize CO2both when exposed to air and a point source of concentrated CO2 gas.
This work has allowed FPX to deepen its understanding of the chemistry and mineralogy controlling the carbon capture and sequestration potential of the serpentinized peridotite host rock at Decar.
The Decar Nickel District covers 245 square kilometers of the Mount Sidney Williams ultramafic/ophiolite complex, located 90 kilometers northwest of Fort St. James in central British Columbia. It hosts a new discovery of nickel mineralization in the form of a naturally occurring nickel-iron alloy called awauite (Ni3Fe), which lends itself to large-tonnage surface mining.
To date, awaruite mineralization has been identified in four target areas of the complex, namely the Baptiste deposit and the B, Sid and Van targets; Baptiste has been drilled since 2010, while the B and Sid targets have been drill tested. Initial drilling has recently started at Van, yielding results comparable to those at Baptiste.