Conic Metals Corp., Toronto, Canada, soon to be renamed Nickel 28 Capital Corp. (TSXV: NKL) (FSE: 3JC), has completed an independent analysis on greenhouse gas (“GHG”) intensity for the Ramu Nickel-Cobalt operation 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.
