- The Government of Ontario’s Critical Minerals Innovation Fund has awarded Canada Nickel Company (TSXV:CNC) C$500,000 to advance its nickel production facility through subsidiary, NetZero Metals
- NetZero is developing zero-carbon production processes for nickel, cobalt and iron
- Canada Nickel Company is advancing nickel-sulphide projects in Ontario to supply the electric vehicle and stainless steel markets
- Canada Nickel Company stock has given back 59.42 per cent year-over-year
The Government of Ontario’s Critical Minerals Innovation Fund has awarded Canada Nickel Company (TSXV:CNC) C$500,000 to advance its nickel production facility through subsidiary, NetZero Metals, which is developing zero-carbon production processes for nickel, cobalt and iron.
NetZero Metals‘ nickel processing plant is expected to reach a capacity of more than 80,000 tons of nickel per year, which would make it the largest nickel facility in North America. Operations would use biochar instead of conventional coal-based materials such as coke and anthracite to minimize carbon footprint.
Canada Nickel will allocate the funding to validating process design through lab and pilot-scale metallurgical testing using applicable feed samples and biochar.
Production is slated to begin in 2027, with planned expansion as Canada Nickel’s flagship Crawford project near Timmins, Ontario, is developed towards the extraction phase.
The plant intends to supply nickel and nickel-cobalt products for battery factories in southern Ontario, as well as position the company for long-term success as it delivers five more resources by mid-2025.
Leadership insights
“This commitment highlights the province’s leadership in fostering innovation and advancing clean technology solutions,” Mark Selby, Canada Nickel Company’s chief executive officer (CEO), said in a statement. “By supporting our efforts to develop a low-cost, low-carbon nickel processing facility, Ontario is strengthening the foundation for a sustainable battery metal supply chain that will drive economic growth and contribute to the global energy transition.”
“The NetZero Metals facility represents a first-of-its-kind approach in the Western world to use biochar-based reductants in pyrometallurgical nickel processing,” added Mike Cox, CEO of NetZero Metals. “This innovation not only addresses the growing demand for low-carbon battery metals but also reinforces Ontario’s position as a leader in clean and sustainable resource development.”
“As our economy grows with an increased need for critical minerals, our government is strengthening a made-in-Ontario supply chain, ready to fuel the technologies of tomorrow,” commented George Pirie, Minister of Mines. “Companies like Canada Nickel and others working on Critical Minerals Innovation Fund projects showcase our province’s unique talent and potential to build a competitive critical minerals industry.”
About Canada Nickel Company
Canada Nickel Company is advancing nickel-sulphide projects in Ontario to supply the electric vehicle and stainless steel markets. The company is also developing processes to produce net-zero-carbon nickel, cobalt and iron products.
Canada Nickel Company stock (TSXV:CNC) is unchanged trading at C$0.84 per share as of 11:22 am ET. The stock has given back 59.42 per cent year-over-year.
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(Top photo: Canada Nickel Company)