-- FPX Nickel (FPX.V) said Tuesday that it has renewed its global generative exploration alliance with Japan Organization for Metals and Energy Security (JOGMEC), focusing on acquiring "high-quality awaruite nickel properties similar in geological character" to FPX's Baptiste nickel project in British Columbia.
A statement noted the alliance will have a budget of C$1.2 million for April 2026 to March 2027. FPX will maintain a majority position, contributing 60% of expenditures and securing 60% ownership in new joint venture projects generated by the alliance.
FPX said the alliance has identified "multiple highly prospective properties across several jurisdictions with strong potential for acquisition in the coming year."
"JOGMEC's continued participation in our generative alliance represents a significant endorsement of the technical and economic viability of awaruite nickel deposits, underwriting FPX's continued exposure to exploration discoveries on a global scale," said Keith Patterson, FPX's vice president for exploration.
The alliance began in April 2023 and is entering its fourth year, FPX said.