Canadian private equity firm Kinterra Capital announced on Jan. 10 that its portfolio company, NiVolt Technologies Inc., had successfully produced mixed hydroxide precipitate (MHP) from nickel concentrate that contained over 45 per cent nickel plus cobalt with low impurities.

This recent update will allow Kinterra to progress to conducting a feasibility study for a potential hydrometallurgical facility in Quebec. The facility, if constructed, would convert nickel concentrate produced into MHP and nickel sulfate, which would then be used for electric vehicle (EV) batteries. 

In a press release, Kinterra added that greater than 97 per cent nickel and cobalt pressure oxidation leach recoveries had been reached.

“Our test results have demonstrated that a high nickel and cobalt leach recovery can be achieved and that a high-quality MHP can be produced,” said Cory Kosinski, vice president of projects and evaluations for NiVolt, in the release. “We look forward to advancing to the pilot plant campaign to validate the process conditions on a continuous basis and generate the necessary process design data for the commercial plant.”

This announcement comes almost two months after Kinterra Capital closed its US$565 million investment fund that will be used to acquire critical mineral assets for EV battery development projects. Kinterra shared that this fund would be used to obtain critical mineral asset investments in North America, Western Europe and Australia over the span of eight to 10 years.

The fund is targeted towards securing investments in lithium mines, embarking on exploration projects for cobalt, nickel and graphite, while also zoning in on developing technology for extracting, processing and recycling critical minerals. The company stated it already holds a stake in the undeveloped Dumont nickel project, located in the Abitibi region of Quebec. When constructed, the project is estimated to produce nickel for over 30 years, and is expected to rank among the top-five largest nickel sulfide operations globally by annual production with an average annual production of 39 kilotonnes of nickel.

NiVolt is reportedly finalizing its search for the location of its proposed hydrometallurgical facility in Quebec, with “proximity to product offtakes, availability of infrastructure and utilities and access to suitable labour markets” being prime considerations for where the company decides to construct it.

Cheryl Brandon, co-managing partner of Kinterra, explained in the press release that Kinterra’s upstream nickel sulfide investments, in tandem with NiVolt’s hydrometallurgical facility, could result in a “first of its kind” integrated battery raw materials solution in Quebec.

“NiVolt will help to address the scarcity of critical minerals processing infrastructure in North America and Europe to meet the forecasted EV demand,” added Kamal Toor, co-managing partner of Kinterra, in the release.