font-awesome.config.js

module.exports = {
  styleLoader: require('extract-text-webpack-plugin').extract(
      {
          fallbackLoader: 'style-loader',
          loader: 'css-loader!sass-loader'
      }
  ),

  styles: {
    'mixins': true,
    'bordered-pulled': false,
    'core': true,
    'fixed-width': true,
    'icons': true,
    'larger': true,
    'list': true,
    'path': true,
    'rotated-flipped': false,
    'animated': true,
    'stacked': false
  }
};

package.json

{
  "name": "fa-gist",
  "description": "---",
  "version": "0.0.1",
  "author": "gplume",
  "private": true,
  "scripts": {
    "build": "cross-env NODE_ENV=production webpack --config webpack.config.js --progress --hide-modules"
  },
  "dependencies": {
    "font-awesome": "^4.7.0"
  },
  "devDependencies": {
    "cross-env": "^3.0.0",
    "css-loader": "^0.25.0",
    "extract-text-webpack-plugin": "2.0.0-beta.4",
    "file-loader": "^0.9.0",
    "font-awesome-loader": "^1.0.1",
    "imports-loader": "^0.6.5",
    "node-sass": "4.1.0",
    "resolve-url-loader": "^1.6.0",
    "sass-loader": "4.1.1",
    "style-loader": "^0.13.1",
    "url-loader": "^0.5.7",
    "webpack": "^2.2.0"
  }
}

webpack.config.js

var path = require('path')
var webpack = require('webpack')
var ExtractTextPlugin = require('extract-text-webpack-plugin')

module.exports = {
    entry: {
        main: ['font-awesome-loader!./font-awesome.config.js'],
    },
    output: {
      path: 'dist',
      publicPath: '/dist/',
      filename: '[name].js',
    },
    plugins: [
      new ExtractTextPlugin({
        filename: 'main.css',
        allChunks: true
      }),
      new webpack.optimize.UglifyJsPlugin({
        sourceMap: true,
        compress: {
          warnings: false,
          drop_debugger: true,
          drop_console: true
        },
        output: {
          comments: false
        }
      }),
      new webpack.LoaderOptionsPlugin({
        minimize: true
      })
    ],
    module: {
      rules: [
          {
            test: /\.woff2?(\?v=[0-9]\.[0-9]\.[0-9])?$/,
            use: "url-loader?limit=10000"
          },
          {
            test: /\.(ttf|eot|otf|svg)(\?[\s\S]+)?$/,
            use: 'file-loader',
          },
          {
            test: /\.css$/, 
            use: ExtractTextPlugin.extract({
              fallbackLoader: 'style-loader',
              loader: 'css-loader',
            })
          },
          {
            test: /\.scss$/,
            use: ExtractTextPlugin.extract({
              fallbackLoader: 'style-loader', 
              loader: 'css-loader!sass-loader',
            })
          }
      ],
    },
    devtool: 'cheap-module-source-map',
    performance: {
      hints: false
    }
}

if (process.env.NODE_ENV === 'production') {
  module.exports.devtool = false
  module.exports.plugins = (module.exports.plugins || []).concat([
    new webpack.DefinePlugin({
      'process.env': {
        NODE_ENV: '"production"'
      }
    }),
    new webpack.optimize.UglifyJsPlugin({
      sourceMap: false,
      compress: {
        warnings: false,
      },
      output: {
        comments: false
      }
    }),
    new webpack.LoaderOptionsPlugin({
      minimize: true
    })
  ])
}