FPX Announces a New Strategic Partner and CEO Martin Turenne Reflects on the Future of Mining

Junior Resource Investing

My first sit down with CEO Martin Turenne of FPX was a busy one. The morning of our interview, news came out that FPX had acquired another strategic partner, bringing on Japanese company Sumitomo in another major derisking event for the company. Designed with the idea in mind that FPX is already well known, topics were more involved than your typical introductory company interview. The wide-ranging interview centers on a discussion of the new partnership, conversations around ongoing First Nations negotiations, updates on FPX’s many partnerships, and a reflection on what Martin believes needs to change most for the mining industry to be able to continue to grow and meet the needs of an evolving society in a sustainable fashion.

Time Stamps:

01:00 Introducing FPX and its Baptiste Project

03:23 Sumitomo Partnership Introduction

06:30 How long was this deal in the works, where does it fit in the current cycle?

09:00 What sort of negotiation was it? Other interested parties? Strength of FPX’s dealmaking

13:40 How do you balance bringing in partners and preserving value for would-be buyers? How much of your offtake have you sold?

16:30 Update on Jogmec deal

19:15 Canada/US Federal Funding application update

21:00 First Nations Sovereignty and Negotiatons – What do they look like

29:00 Discussing the two nations FPX does not have an agreement with

30:00 How involved is the provincial and federal government in the Tl’azt’en negotiations?

34:20 Tl’azt’en Election petition to accelerate their 2025 election to 2024 of this year

35:20: BC Critical Mineral Strategy – overview

38:30 What changes would Martin like to see in our approach to how we manage our minerals?

39:30 How has your relationship with these nations evolved over time in your time as CEO?

44:10 Does the delay of the critical mineral strategy delay your environmental permitting process?

46:00 How do we get to the point where clean mining is valued in a way that priortises it over dirty mining?

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