EcoMetals Resource Group is currently working on its flagship project located in South Palawan, Philippines. This area is extremely rich in valuable ore deposits, and with the recent shift in government policy, the stage is set for an incredible investment in the future. 

 

🔍Technology Strategy Update: Advancing Independent NAL Pathway

 

Following early-stage engagement with Altilium in the latter half of 2024 and a review of recent commercial terms introduced in Q2-2025, EcoMetals has elected to pursue a regionally anchored and independently validated pathway for Nitric Acid Leach (NAL) technology. This decision was made to uphold transparency, efficiency, and alignment with the expectations of early recommendations by institutional investors.

 

We wish to clarify that no proprietary or confidential engineering data has been received from Altilium since executing the NDA in July 2024. All technical evaluations, official engineering flowsheets, and the Techno-Economic Analysis (TEA) were developed internally, leveraging public domain science, our in-house metallurgical expertise, and certified ore samples from Philippine Islands.

 

We continue to remain open to future collaboration should aligned terms and institutional demand call for re-engagement with proprietary platforms.

 

🌱 Environmental and ESG Commitments

EcoMetals remains steadfast in pursuing a responsible development model:

• Engagement (initial meeting) with Community reinvestment models for Indigenous Peoples (IP) and local landowners

• Initial Documentation application for the Alignment with DENR, NCIP, and BOI requirements under Philippine law

 

We believe that mineral wealth must benefit the communities that host it, and every stage of our process design reflects this principle.

 

🧪 Techno-Economic Analysis (TEA): Exercise and Completion (Nov 2024)

 

1. Purpose of the TEA

The Techno-Economic Analysis (TEA) is a comprehensive tool used to assess the technical feasibility, economic viability, and commercial competitiveness of EcoMetals' proposed nickel laterite processing plant. It serves multiple functions:

• De-risking the project for institutional investors

• Supporting project permitting and BOI incentives

• Guiding engineering, procurement, and construction (EPC) strategies

• Informing offtake and strategic partner discussions

 

2. Scope of the Completed TEA

EcoMetals' TEA was structured to reflect real-world deployment of the Nitric Acid Leach (NAL) process and includes:

 

A. Technical Framework

• Process Flow: Based on public domain data and in-house engineering assumptions for NAL and other pathways.

• Input Composition: Laboratory results from South Palawan and Surigao ore (surface ore e.g., Ni 0.9–1.3%, Co up to 0.1%, Fe 40–46%, Mg 7–11%, Sc >55 - 83 ppm)

• Recovery Rates: Modeled recovery efficiencies:

  • Nickel: 90–92%

  • Cobalt: 85–90%

  • Scandium and REEs: Evaluated under extended scenarios

B. Economic Outputs

• CAPEX & OPEX:

  • Phase 1 (300,000 DMT/year): $20–150M depending on metals targeted

  • Phase 2 (1.5M DMT/year): $1.3B full-scale plant

• IRR & Payback:

  • Base case IRR: ~20-26%

  • Payback: <4 years under full capacity and optimal pricing

• Revenue Potential:

  • Over $1B/year projected for full-scale plant based on nickel, cobalt, scandium, and REE pricing assumptions

C. Comparative Framework

• Benchmarked against:

  • HPAL (High Pressure Acid Leach): Higher CAPEX, high acid use, tailings dam required

  • EML (Emerging ElectroMetal Leach): Lower CAPEX, lower recovery at this stage, but more scalable and modular

  • Carbonyl: High purity output but limited scalability and hazardous CO gas handling

• NAL positioned as ESG-advantaged, tailings-free, and circular.

 

3. Completion Status

✅ Completed:

• Public domain tech modeling

• Independent cost-benefit simulation (without Patent holder IP)

• ESG positioning framework

• Appendices for investor-ready Business Case

 

🚧 To be Finalized (if needed for future steps):

• JORC-compliant ore body confirmation via additional drilling (Post-NDA or Strategic LOI phase)

• Pilot validation (Pending $6M seed round)

• Legal vetting of IP protection strategy

 

 

 

CAPEX Validation through Vendor Engagements

As part of EcoMetals' capital formation and technology development strategy, attendance at the Las Vegas Mining Convention 2024 proved to be a pivotal moment for CAPEX benchmarking and validation of our planned modular processing facility. The event enabled direct interaction with global process plant equipment manufacturers, offering a unique opportunity to cross-check cost assumptions, timelines, and scalability of key equipment components for nickel laterite ore processing via Nitric Acid Leach (NAL) and other innovative technologies.

 

1. Vendor Consultations for Key Equipment Packages

Several strategic meetings were held with leading OEMs (Original Equipment Manufacturers) specializing in:

• Solvent Extraction and Separation Units

• Acid Regeneration Systems (especially nitric acid recirculation units)

• Autoclaves and Leach Reactors

• Solid-Liquid Separation Systems (e.g., filter presses, CCD thickeners)

• Material Handling Systems and Conveyors

• Modular Skid-Based Process Units

Each vendor provided indicative quotations, lead times, and modular deployment options. This information allowed EcoMetals to:

• Validate the CAPEX assumptions stated in our Techno-Economic Analysis (TEA)

• Benchmark modular unit costs per tonne of input ore for NAL-compatible equipment

• Compare regional fabrication vs. imported skids from North America, Europe, and Asia

 

2. Key Observations Influencing CAPEX Adjustments

• Modularity Offers Cost Flexibility: Vendors emphasized that modular systems reduce site labor, construction risk, and civil works, making them ideal for remote Philippine locations like Surigao del Sur or Palawan.

• Nitric Acid Recirculation Units (proprietary or customized) ranged from USD 6–15 million, depending on scale, with higher prices for closed-loop efficiency of >90%.

• Solvent Extraction Columns and Contactors (for nickel-cobalt separation) were among the most capital-intensive modules, quoted at USD 5–12 million for mid-scale output.

• Shipping, Logistics, and Customs added 15–20% to FOB pricing, reaffirming the importance of negotiating local fabrication where feasible.

• Lead Times: Equipment with long fabrication lead times (up to 12 months) triggered the need for early procurement planning within our 12–18 month critical path.

 

3. Independent Validation of $1.3B Full-Scale CAPEX

By aggregating component-level costs shared by 6+ vendors, and comparing those to analogous HPAL and acid leach projects in Indonesia, EcoMetals was able to confirm:

• The $1.3 billion estimate for the full-scale 1.5 million DMT/year NAL facility is within the global industry range, especially with built-in ESG enhancements and redundancy for multiple critical metal recoveries.

• The Phase 1 modular plant (300,000 DMT/year) has a realistic CAPEX envelope of $20–$150 million, with the upper end reserved for inclusion of scandium and rare earth elements (REE) modules.

 

4. Value from OEM Collaboration

Beyond pricing, vendors provided additional insight that refined our CAPEX strategy:

• Warnings about underbudgeting pre-commissioning and operator training, many first-time developers overlook this.

• Shared case studies and performance metrics of similar-scale leach plants (though most were sulfuric-based), useful for comparative OPEX and uptime modeling.

• Introduced EcoMetals to potential EPC/EPCM partners with successful turnkey delivery of modular plants in Asia-Pacific.

 

Conclusion and Next Steps

The Las Vegas Convention deepened EcoMetals’ understanding of real-world plant cost drivers, enhanced credibility of our CAPEX projections, and set the stage for supplier MOU negotiations as part of our Pre-FEED (Front-End Engineering Design) strategy. This engagement supports institutional investor due diligence by demonstrating a fact-based, vendor-supported CAPEX roadmap.

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Project Updates

October 2024: Advancing Critical Milestones

As we progress into the final quarter of the year, significant strides are being made toward realizing the vision of transforming the mining sector in the Philippines. Here’s a snapshot of the latest updates:

1. Strategic Investment and Partnerships

   • BIMP Group Equity Investment: A strategic partnership with negotiation of equity investment, strengthening the financial position and accelerating plans for the South Palawan nickel laterite project. 

2. Progress in the South Palawan Nickel Laterite Project

   • Geological Assessment Completion: Early Results are very promising, highlighting significant reserves of nickel, manganese, cobalt, scandium and rare earth elements (REEs), reaffirming the site's strategic importance for the electric vehicle (EV) battery and renewable energy storage industries.

   • CAPEX and Infrastructure Planning: Discussions with global partners and investors to finance the CAPEX for the construction of the processing plant are progressing. The team is working tirelessly to ensure that all necessary infrastructure projects align with sustainability goals.

   • Validated the CAPEX budget through 

3. Commitment to Indigenous Communities

   • Community Upliftment: The project remains deeply committed to ensuring that local indigenous communities benefit directly. There is close collaboration with local leaders to create opportunities for employment, education, and infrastructure development that support long-term prosperity without compromising cultural values or environmental stewardship.

4. Technological Innovation

   • Altilium Nickel Laterite Process: The innovative use of the process is gaining attention as a game-changer in the industry, minimizing waste and maximizing the extraction of valuable minerals. This technology will significantly enhance production capabilities, ensuring sustainable mining practices that align with global decarbonization efforts.

5. Exploring New Markets and Opportunities

   • Export Partnerships: Discussions have been initiated with potential export partners in the U.S., Europe, Asia and within Philippines to supply critical minerals essential for EV production and energy storage solutions. These partnerships are key to the long-term strategy of becoming a leader in the global supply chain for critical minerals.

Looking Ahead

The upcoming months are filled with exciting developments as partnerships are finalized, CAPEX financing is secured, and groundwork begins on the processing plant. The project is on track to become a key player in the critical minerals sector, contributing to global sustainability goals and driving economic growth in the Philippines.

Stay tuned for more updates as the journey to revolutionize the mining industry continues!

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