# Critical Minerals Market Heats Up as Nickel and Cobalt Demand Surges Worldwide Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/critical-minerals-market-heats-up-as-nickel-and-cobalt-demand-surges-worldwide--dfc26cdf-8715-4b76-be8c-bdef1e171559 Original source: https://money.tmx.com/en/quote/FAN/news/8315926107756611/critical-minerals-market-heats-up-as-nickel-and-cobalt-demand-surges-worldwide Publisher: tmx Original announcement: 2026-05-21T13:15:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: First Atlantic Nickel Corp. - Ticker: FAN - Exchange: TSX - Region: Unavailable - Primary commodity: Nickel - Secondary commodities: Cobalt, Chromium - Document categories: Metallurgy, Other - Extracted: 2026-09-12 03:33:27 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary First Atlantic Nickel Corp. has confirmed high-grade nickel \(77.62% avg\) and cobalt \(1.69% avg\) content in awaruite mineral at the RPM Zone of the Pipestone XL Project. The mineralogical analysis by SGS Canada indicates that this naturally occurring alloy can be concentrated via magnetic separation and flotation without the need for smelting, roasting, or acid leaching. Reasoning: The confirmation of high-grade awaruite \(77.62% Ni\) that bypasses intensive midstream processing is a highly material and novel metallurgical development for the Pipestone XL Project. - Positive factor: High-grade nickel-cobalt alloy \(awaruite\) confirmed - Positive factor: Simplified processing route \(no smelting, roasting, or acid leaching required\) - Positive factor: Naturally magnetic and hydrophobic properties support easy concentration - Positive factor: Potential for chromite co-product recovery - Negative factor: Metallurgical program is ongoing; full scale-up results pending Facts used in scoring: 3 ## Classification and evidence **Free Milling** Polarity: positive Definition: Simple, clean ore amenable to standard processing without oxidation. Why it applies: The awaruite mineral does not require smelting, roasting, or acid leaching to liberate nickel from chemical bonds. Evidence · text > Awaruite does not contain the chemical bonds to sulfur, magnesium, or silica that require capital- and energy-intensive midstream processing **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: The company confirms magnetic separation followed by flotation as the concentration method. Evidence · text > confirm magnetic separation followed by flotation as the concentration method **POX/BIOX Route** Polarity: neutral Definition: Pressure or bio-oxidation for refractory ore — high CAPEX and OPEX. Why it applies: the document describes a pox\_biox route \("roasting"\) **Multi-Domain Tested** Polarity: positive Definition: Variability across ore domains \(oxide, transition, fresh\) has been addressed. Why it applies: 2 distinct composites were tested ## Extracted facts Stored fact records: 3. Some facts used in scoring do not have a stored record. ## Metallurgical Results (3) ### modal mineralogy \(TIMA\) and nickel distribution analysis [Link to this fact](https://atlas-extractions.minestarters.com/news/critical-minerals-market-heats-up-as-nickel-and-cobalt-demand-surges-worldwide--dfc26cdf-8715-4b76-be8c-bdef1e171559#fact-metallurgical-facts-0) Pipestone XL Project · nickel #### Identity - Project: Pipestone XL Project - Commodity: nickel - Ticker: FAN #### Test Work - Program Status: detailed - Test Type: modal mineralogy \(TIMA\) and nickel distribution analysis - Processing Route: magnetic separation and flotation - Sample: Master Composite sample comprising 32 individual samples over 96 meters of drill core from AN-24-02 \(258 m to 354 m\) #### Recovery - Recovery Basis: unspecified - Head Grade: 77.62 - Head Grade Unit: % #### Lab - Laboratory: SGS Canada #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: 77.62% Ni in awaruite is exceptionally high and confirms the project's core value proposition. - Positive factor: Extremely high grade for awaruite host Evidence · text > Awaruite at Pipestone XL averages 77.62% nickel #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### modal mineralogy \(TIMA\) and nickel distribution analysis [Link to this fact](https://atlas-extractions.minestarters.com/news/critical-minerals-market-heats-up-as-nickel-and-cobalt-demand-surges-worldwide--dfc26cdf-8715-4b76-be8c-bdef1e171559#fact-metallurgical-facts-1) Pipestone XL Project · cobalt #### Identity - Project: Pipestone XL Project - Commodity: cobalt - Ticker: FAN #### Test Work - Program Status: detailed - Test Type: modal mineralogy \(TIMA\) and nickel distribution analysis - Processing Route: magnetic separation and flotation - Sample: Master Composite sample comprising 32 individual samples over 96 meters of drill core from AN-24-02 \(258 m to 354 m\) #### Recovery - Recovery Basis: unspecified - Head Grade: 1.69 - Head Grade Unit: % #### Lab - Laboratory: SGS Canada #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: 1.69% Co is a significant byproduct grade within the nickel alloy. - Positive factor: High cobalt grade relative to other awaruite occurrences Evidence · text > 1.69% Cobalt #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### Fact 3 [Link to this fact](https://atlas-extractions.minestarters.com/news/critical-minerals-market-heats-up-as-nickel-and-cobalt-demand-surges-worldwide--dfc26cdf-8715-4b76-be8c-bdef1e171559#fact-metallurgical-facts-2) chromium #### Identity - Commodity: chromium - Ticker: FAN #### Test Work - Sample: RPM Zone chromite mineralization #### Recovery - Head Grade: 63 - Head Grade Unit: % Cr2O3 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: 63% Cr2O3 is a high-grade value-add for the project. - Positive factor: High-grade chromite identified as potential co-product Evidence · text > chromite, grading 63% Cr2O3 #### Tags used in scoring **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.