FPX Nickel (TSXV:FPX) has announced that a signed memorandum of agreement with indigenous partner Binche Keyoh Bu Society will now formalize protocols around the development of the Decar Nickel District in central British Columbia, Canada. The MoA follows a previously signed MoU with the Tl’azt’en Nation, including the Binche Keyoh families that are represented by the Binche Society. The Binche Society is a not-for-profit community organization that represents the Keyoh families with the Binche Whut’en consultative boundary in central B.C. Binche was then de-amalgamated from the Tl’azt’en Nation, and in 2019, formed the Binche Whut’en.

The MoA

The MoA formalizes protocols surrounding the development of the Dear nickel property, and signals a cooperative working relationship in regards to exploration and development activities at the property. The MoS also outlines other ways to manage the project activities when it comes to the cultural and environmental interests of the Binche Whut’enne, the socio-economic benefits, and community consultation activities and processes with the Binche community.

FPX Nickel president and CEO martin Turenne commented: “Since the beginning of exploration activities at Decar in 2008, FPX has worked respectfully with the traditional Keyoh families of Binche Whut’enne and Tl’azt’enne to create shared value through employment and economic opportunities while also being responsible stewards of the natural environment. The signing of this Memorandum of Agreement marks an important milestone in the continued development of a mutually beneficial partnership between FPX and the Keyoh families of Binche Whut’enne.”

The Decar project is a greenfield discovery of nickel mineralization. This means that the project is still in its early stages of development, and has not yet reached full commercial production. The mineralization is in the form of a naturally occurring nickel-iron alloy called awaruite. The property is 245km² 90 km northwest of Fort St. in part of the mount Signey Williams ultramafic/ophiolite complex.

With the new MoA in place, FPX Nickel now has the support of the Binche Society. The company can now begin the necessary offsite engineering and scientific studies to move forward with the project followed by an on-site field programme.

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.