Metals One - First by name, first by nature
Metals One is a junior metals explorer with assets in Finland and Norway. After listing on the London Stock Exchange last year, it has moved quickly to double the resource at its Black-Schist project in Finland, on which it is now completing a preliminary economic assessment (PEA) by the year’s end. We calculate that the existing resource is currently capable of supporting a low capex, low opex bio-heap leach mine (akin to its neighbour Terrafame) to produce c 14,000tpa nickel sulphate for the EV battery market over c 20 years and could be in production as early as 2030 at a carbon intensity of 1.75t CO2 equivalent per tonne of nickel sulphate (cf c 40–90t/t Ni for nickel pig iron, c 40t/t Ni for HPAL and <10t/t Ni for traditional nickel sulphide processing routes).
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