NEW YORK, June 24, 2026 (GLOBE NEWSWIRE) -- Market News Updates News Commentary - With the rising demand for electric vehicles, energy storage solutions, and other eco-friendly technologies, experts anticipate a surge in the global need for nickel in the foreseeable future. This has sparked a keen interest in awaruite, a naturally occurring nickel-iron alloy that can be extracted using relatively straightforward magnetic separation techniques. Due to its inherent magnetic properties, awaruite presents a simpler route to nickel concentrate production compared to conventional nickel deposits, potentially easing future supply challenges. Active Companies mentioned in the article includes: First Atlantic Nickel Corp. (OTCQB: FANCF) (TSX-V: FAN), MP Materials Corp. (NYSE: MP), Critical Metals Corp. (NASDAQ: CRML), USA Rare Earth, Inc. (NASDAQ: USAR), TMC the metals company Inc. (NASDAQ: TMC).

The appeal of awaruite lies in its capacity to offer a fresh nickel source from stable mining regions like Canada and the United States. Currently, a significant portion of the world's nickel supply originates from a few select countries, raising concerns about long-term supply reliability. Projects involving awaruite have the potential to diversify global nickel output, potentially streamlining processing methods and reducing associated costs. As governments and industry players strive to secure dependable access to essential minerals, newfound awaruite deposits are garnering increased interest.

The prospects are promising. Industry projections indicate that the global nickel market could double in value over the next decade, expanding from roughly US$42 billion presently to over US$80 billion by the mid-2030s. Should nickel demand follow its projected upward trajectory, the emergence of new supply sources will be crucial. Consequently, many investors and industry experts view awaruite as a nascent nickel source with the potential to significantly support upcoming battery, electric vehicle, and clean energy supply chains.

First Atlantic Nickel & Cobalt Produces Up To 71.9% Nickel And 1.76% Cobalt In An Almost-Pure Awaruite Concentrate - First-Ever Metallurgical Recovery & Concentration Results From Its Onshore Max (Metal Alloy Extraction) Process Using Sample Rock From The Rpm Zone At The Pipestone Xl Project - First Atlantic Nickel & Cobalt Corp (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) (“First Atlantic”) is pleased to report preliminary metallurgical recovery and concentration results from its ONSHORE MAX (Metal Alloy Extraction) process, an ongoing process development program at the RPM Zone of its wholly owned Pipestone XL Nickel-Cobalt Alloy Project in central Newfoundland.

A simple two-stage metallurgical process combining low-intensity magnetic separation and flotation upgraded RPM Zone drill core into an almost-pure awaruite (Ni₃Fe) concentrate grading up to 71.9% nickel and 1.76% cobalt. The test work was completed at SGS Canada Inc. (“SGS”) and represents the Company's first-ever bench-scale metallurgical recovery and concentration test work on awaruite concentrate, building directly on the high-grade awaruite mineralogy reported in the Company's May 21, 2026 electron microprobe results.

The U.S. Geological Survey identified awaruite as a potential solution to nickel supply shortages in its 2012 annual report on nickel, stating: “The development of awaruite deposits in other parts of Canada may help alleviate any prolonged shortage of nickel concentrate. Awaruite, a natural iron-nickel alloy, is much easier to concentrate than pentlandite, the principal sulfide of nickel.”

The Company has applied for bulk-sample permitting that would allow it to extract a sufficient volume of material to advance the ONSHORE MAX process toward a pilot-scale processing plant.

HIGHLIGHTS:

1. ONSHORE MAX Produces an Almost-Pure Awaruite Concentrate: A simple two-stage magnetic separation and flotation process produced a final concentrate grading up to 71.9% nickel and 1.76% cobalt, approaching the grade of pure awaruite mineral.
2. Concentrate Grades Up To 71.9% Nickel and 1.76% Cobalt: Four flotation tests produced awaruite concentrate ranging from 63.7% to 71.9% nickel, significantly higher than the 10% to 15% grade of a common nickel concentrate, according to the Nickel Institute. Cobalt was assayed on the final test only, returning 1.76% cobalt in the concentrate.
3. First-Ever Bench-Scale Test Work on Awaruite Concentrate: This represents the Company's first bench-scale metallurgical recovery and concentration test work on awaruite, producing a concentrate grading up to 71.9% nickel and 1.76% cobalt using a simple two-stage metallurgical process.
4. Two-Stage Metallurgical Process: A low-intensity magnetic separation (LIMS) drum operating at 1,000 Gauss first produced a magnetic concentrate grading approximately 1.6% nickel, which was then upgraded by flotation using a xanthate collector to produce the final high-grade awaruite concentrate.
5. Confirms Recoverability of High-Grade Mineralogy: The results confirm the metallurgical recoverability of the awaruite reported in the Company's May 21, 2026 electron microprobe analysis, which returned average grades of 77.62% nickel and 1.69% cobalt at the RPM Zone.
6. Smelter-Free Processing Pathway: The results advance a domestic North American processing route for nickel and cobalt that moves directly from mine to refinery, without the need for a smelter.

ONSHORE MAX PROCESS AND TEST WORK - The ONSHORE MAX (Metal Alloy Extraction) process is the Company's two-stage metallurgical process for recovering and concentrating awaruite, a naturally occurring, sulphur-free nickel-iron-cobalt alloy, into a high-grade, smelter-free concentrate using established magnetic separation and flotation technology.

The preliminary program was performed on a 74.5-kilogram composite sample comprising 32 individual samples taken from 96 meters of continuous drill core from RPM Zone discovery hole AN-24-02. The composite returned an average head grade of approximately 0.12% magnetically recoverable nickel, measured by Davis Tube Recovery (“DTR”) at SGS. The sample was first processed through a low-intensity magnetic separation drum at 1,000 Gauss to produce a magnetic concentrate grading approximately 1.6% nickel. This magnetic concentrate was then upgraded by flotation, using a xanthate collector, across four flotation tests that produced awaruite concentrate grading from 63.7% to 71.9% nickel. Cobalt was assayed on the final test only, which returned 1.76% cobalt in concentrate; all future test work will include cobalt assays. All metallurgical test work was conducted at SGS Canada using a low-intensity magnetic separator drum and standard flotation equipment.

HIGH-GRADE CONCENTRATE AND CONTEXT - The 71.9% nickel grade of the ONSHORE MAX concentrate approaches the grade of pure awaruite. By comparison, the Nickel Institute reports that a typical nickel concentrate grades between 10% and 15% nickel. Awaruite's high nickel and cobalt content, natural magnetism, and metallic properties allow it to be concentrated to grades well above those achievable from conventional nickel sulphide and laterite minerals.

These results follow the Company's May 21, 2026 electron microprobe analysis, which measured the average composition of awaruite at the RPM Zone at 77.62% nickel and 1.69% cobalt.

PILOT SCALE BULK SAMPLE - The preliminary program was completed on a proof-of-concept sample volume. Building on these results, the Company intends to advance an expanded metallurgical program to optimize the magnetic separation and flotation process, evaluate the addition of gravity separation, assess potential chromium credits, and evaluate downstream refining toward battery-grade nickel sulphate (NiSO₄). To support larger-scale test work, the Company has applied for bulk-sample permitting that would enable the volume of material required to advance toward a pilot-scale processing plant.
CONTINUED…Read this and more news for First Atlantic Nickelat: https://www.fanickel.com/archive

In other market news of interest today includes:

MP Materials Corp. (NYSE: MP) recently announced financial and operational results for the three months ended March 31, 2026.

“MP Materials delivered record NdPr production and sales with solid Adjusted EBITDA generation in the first quarter,” said James Litinsky, Founder, Chairman and CEO of MP Materials. “We advanced key growth initiatives, expanding operations at Independence and breaking ground on 10X, with scaled heavy rare earth separation commissioning activities set to begin imminently at Mountain Pass. These achievements reflect our disciplined execution, the exceptional capabilities of our growing team, and the accelerating momentum behind our vertically integrated strategy.”

Total revenue increased 49% year over year to $90.6 million, driven by higher sales of NdPr oxide and metal, reflecting the continued ramping of production of separated products, as well as stronger market pricing. Revenue from magnetic precursor products also increased year over year. These increases were partially offset by the cessation of our concentrate sales beginning in July 2025.  Adjusted EBITDA increased by $39.3 million year over year to $36.6 million, driven mainly by the increase in total revenue discussed above and price protection agreement income (“PPA Income”) generated in the Materials Segment.

Critical Metals Corp. (NASDAQ: CRML), a leading critical minerals mining company, recently announced the commencement of its planned 10,000-meter diamond drilling campaign at the Company’s wholly owned Tanbreez Rare Earth Project in Southern Greenland.

The drill program represents a significant milestone in the advancement of the Tanbreez Project and is designed to support resource expansion, geological modeling, mine planning, and future development activities across the project area.

USA Rare Earth, Inc. (NASDAQ: USAR), a rare earth, critical minerals and advanced materials company, recently announced the commissioning of its hydrometallurgical demonstration facility in Wheat Ridge, Colorado.

First production of separated oxides is targeted for the third quarter of 2026 and is expected to make USA Rare Earth one of the few Western companies capable of delivering strategic heavy rare earth oxides at commercial quality — the latest milestone in USA Rare Earth’s mission to build a global leader in rare earths, critical minerals and advanced materials.

TMC the metals company Inc. (NASDAQ: TMC), a leading developer of the world’s largest resource of critical metals essential to energy, defense, manufacturing and infrastructure, recently announced that the USA B exploration license application submitted by its U.S. subsidiary, The Metals Company USA LLC (TMC USA), had been formally certified by the U.S. National Oceanic and Atmospheric Administration (NOAA).

The USA B application area covers ~122,000 km2 of seafloor and hosts an estimated 1.02 billion tonnes of polymetallic nodules based upon TMC’s Technical Report Summary for the Initial Assessment published in August 2025. In addition to the USA B exploration license application, TMC USA is also advancing a consolidated application for an exploration license and commercial recovery permit for the USA A area, which was submitted to NOAA on January 22, 2026, and later determined to be fully compliant on April 28, 2026.

DISCLAIMER: MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. MNU is NOT affiliated in any manner with any company mentioned herein. MNU and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. MNU’S market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. MNU is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. This press release was distributed on behalf of First Atlantic Nickel Corp. For current services performed MNU has been compensated forty five hundred dollars for news coverage of the current press releases issued by First Atlantic Nickel Corp. by a non-affiliated third party. FNM & MNU HOLD NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected”, “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MNU undertakes no obligation to update such statements.

Contact Information:

Media Contact email: editor@marketnewsupdates.com - +1(561)486-1799

SOURCE: Market News Updates