- Canada Nickel Company subsidiary NetZero Metals intends to develop two processing facilities in the Timmins Nickel District
- The wholly owned subsidiary plans to develop a nickel processing facility and stainless-steel and alloy production facility
- Each production facility is expected to utilize the company’s carbon storage capacity at its Crawford Nickel project to deliver zero carbon nickel and stainless steel and alloy production
- Canada Nickel Company Inc. stock last traded at C$1.37 per share
Canada Nickel Company (TSXV:CNC) subsidiary NetZero Metals intends to develop two processing facilities in the Timmins Nickel District.
The wholly owned subsidiary plans to develop a nickel processing facility and stainless-steel and alloy production facility.
These initiatives are expected to represent an important economic development for the Timmins Nickel District and provide significant additional capacity to fill a critical link in the development of North American critical minerals supply chains and the province’s electric vehicle strategy.
Each production facility is expected to utilize the company’s carbon storage capacity at its Crawford Nickel project to deliver zero carbon nickel and stainless steel and alloy production.
The Ontario-based miner is currently at the site-selection stage, considering several sites in the region and said that this initiative represents a “paradigm shift in the nickel and stainless-steel industries,” by combining expertise from around the globe, environmentally conscious technology and Canadian solutions.
“These processing facilities will position the Timmins Nickel District and Canada at the forefront of the global transition to greener energy and materials,” Canada Nickel Company’s CEO, Mark Selby, said in a news release. “We are proud to lead the way in planning the development of new capacity to meet the growing demand for the local supply of critical minerals, and most importantly, zero carbon, environmentally responsible production in North America.”
Timmins Mayor Michelle Boileau added that this initiative highlights Timmins’ position as a global leader in sustainable and environmentally responsible mining.
“We are essential to Canada’s electric vehicle and critical mineral supply chain,” she said. “This means long-term direct and indirect job creation to support Timmins Nickel District, which adds to the diversification and stability of our local economy. Canada Nickel’s commitment to investing in the Timmins’ region will benefit our people and our community.”
Canada Nickel Company is developing nickel-sulphide projects to supply the electric vehicle and stainless-steel markets.
Canada Nickel Company Inc. stock last traded at C$1.37 per share. The stock has given back 34.76 per cent year-over-year but has added 52.22 per cent since inception in February 2020.
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