Nickel 28's Ramu Confirmed as One of Lowest Carbon Emitters Amongst Nickel Producers
February 09 2021 - 11:47AM
Business Wire
Conic Metals Corp., soon to be renamed Nickel 28 Capital Corp.
(“Nickel 28” or the “Company”) (TSXV: NKL)
(FSE: 3JC), is pleased to announce that it has completed an
independent analysis on greenhouse gas (“GHG”) intensity for
the Ramu Nickel-Cobalt operation (“Ramu”) confirming the
operation is one of the lower GHG emitters in the nickel industry.
The GHG intensity review was conducted by Trytten Consulting
Services, a leading firm with technical, economic, and
sustainability expertise in the battery metals industry.
Justin Cochrane, Nickel 28’s President and CEO stated, “We are
pleased to confirm that Ramu’s GHG intensity for Scope 1 + Scope 2
emissions are the lowest in the world when compared to other high
pressure acid leach (“HPAL”) operations and for all refined
nickel production from lateritic sources. Ramu’s average GHG
intensity has been calculated at 15.6 tCO2e/tonne of nickel in MHP.
These calculations are based on the average of the past three years
where Ramu has been operating at full nameplate capacity and
compare quite well when you consider that Wood Mackenzie1 recently
indicated that the average for the nickel industry is approximately
37 tCO2e/tonne of nickel produced.”
Trytten Consulting Services conducted the calculation based on
data provided by the Company and calculated emission intensity
ranging from 13.9 tCO2e to 17.1 tCO2e2 for the years 2018 to 2020
with an overall average of 15.6 tCO2e for the 3 years. In
comparison, based on public reporting, other HPAL operations such
as Moa Nickel and Ambatovy have Scope 1 + Scope 2 emission
intensities greater than 20 tCO2e/t of nickel. In January, Wood
Mackenzie presented data on GHG intensity for the nickel industry
at AABC Europe and has confirmed that they calculate an average at
36.6 tCO2e/t Ni for the nickel industry and that Ramu’s stated
intensity places it at the lowest end of HPAL and lateritic nickel
production per their analysis.
“We are working very closely with MCC, the operator and our
Joint Venture partner to identify opportunities to reduce our
overall environmental impact,” stated Anthony Milewski, Chairman of
Nickel 28’s board of directors. “Currently we are exploring options
which could result in a 40% reduction in GHG intensity by
eliminating on-site electricity generation with delivery from
renewable sources. This is not that far off in the future and could
be implemented within 5-10 years. Such a reduction would reduce
Ramu’s emission intensity to less than 10 tCO2e/tonne of
nickel.”
A significant amount of CO2e is generated from the
neutralization of process materials to remove acid, including the
neutralization of tailings, which is an important aspect of Ramu’s
operation as it ensures that tailings are inert prior to being
disposed of via the DSTP. Ramu’s tailings are neutralized to a pH
of 8 in accordance with the operating license before placement via
the DSTP.
In the future Nickel 28 will be introducing greater ESG
transparency with respect to its assets in response to investor and
industry trends. In addition to GHG emission reporting, Nickel 28
will be providing further clarity with respect to other key
measures such as health and safety statistics, energy and water
usage, rehabilitation and land reclamation.
About Conic / Nickel 28:
Conic Metals Corp. is a nickel-cobalt producer through its 8.56%
joint-venture interest in the producing, long-life and world-class
Ramu Nickel-Cobalt Operation located in Papua New Guinea. Ramu
provides Conic with significant attributable nickel and cobalt
production thereby offering our shareholders direct exposure to two
metals which are critical to the adoption of electric vehicles. In
addition, Conic manages a portfolio of 13 nickel and cobalt
royalties on development and exploration projects in Canada,
Australia and Papua New Guinea.
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain information which constitutes
‘forward-looking statements’ and ‘forward-looking information’
within the meaning of applicable Canadian securities laws. Any
statements that are contained in this news release that are not
statements of historical fact may be deemed to be forward-looking
statements. Forward-looking statements are often identified by
terms such as “may”, “should”, “anticipate”, “expect”, “potential”,
“believe”, “intend” or the negative of these terms and similar
expressions. Forward-looking statements in this news release
include, but are not limited to: statements and figures with
respect to the operational and financial results; statements with
respect to the prospects of nickel and cobalt in the global
electrification of vehicles; statements related to the repayment of
the Company Ramu operating debt; statements related to the impact
of COVID-19 on the Company; statements related to trading
liquidity; and statements with respect to the business and assets
of Conic and its strategy going forward. Readers are cautioned not
to place undue reliance on forward-looking statements.
Forward-looking statements involve known and unknown risks and
uncertainties, most of which are beyond the Company’s control.
Should one or more of the risks or uncertainties underlying these
forward-looking statements materialize, or should assumptions
underlying the forward-looking statements prove incorrect, actual
results, performance or achievements could vary materially from
those expressed or implied by the forward-looking statements.
The forward-looking statements contained herein are made as of
the date of this release and, other than as required by applicable
securities laws, the Company does not assume any obligation to
update or revise them to reflect new events or circumstances. The
forward-looking statements contained in this release are expressly
qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. No securities regulatory authority has
either approved or disapproved of the contents of this news
release.
1 Wood Mackenzie “Cinderella Search – The Hunt for “Green
Nickel” – AABC Europe, January 2021
2 Using industry-standard emission factors for fossil fuel
consumption by equipment type and a range of estimates for direct
CO2 emissions from limestone consumption.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210209005948/en/
Justin Cochrane Tel: 647.846.7765 Email:
info@nickel28.com
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