- Canada Nickel Company (TSXV:CNC) received federal approval from the Minister of Environment, Climate Change and Nature for its Crawford nickel project in Ontario.
- The project would become the Western World’s largest nickel sulphide operation upon construction.
- Canada Nickel stock last traded at C$1.58 and has added 97.50 per cent year-over-year.
Canada Nickel Company (TSXV:CNC) received federal approval from the Minister of Environment, Climate Change and Nature for its Crawford nickel project in Ontario.
Crawford would become the Western World’s largest nickel sulphide operation upon construction, according to Friday’s news release, as well as North America’s only primary source of chromium, making the mining project a key lifeline for the aerospace, defense, stainless steel, electric vehicle and advanced manufacturing industries.
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An independent economic study by Mansfield Consulting, based on Crawford’s 2023 feasibility study, sees the project contributing about C$70 billion to Canada’s GDP over its 41-year mine life, supported by 185,000 person-years of employment, bolstering the economies of Canada and Northern Ontario alike.
The project is the first mining operation approved under Canada’s amended Impact Assessment Act since 2019, as well as one of the first applicants to advance under Ontario’s One Project, One Process framework, setting a prospective tone as leadership focuses on ushering Crawford through detailed engineering, financing and the remaining provincial and federal permits required to reach a construction decision.
Leadership commentary
“Today’s decision recognizes the strategic importance of responsibly developing Canada’s critical mineral resources in partnership with all levels of government and Indigenous Nations, while maintaining rigorous environmental standards,” Mark Selby, Chief Executive Officer of Canada Nickel Company, said in a statement. “I am very proud of our team, which completed this key federal permit in just four years and advanced Crawford from its fifth drillhole through feasibility study to today’s milestone in under seven years – substantially faster than typically required for large-scale projects. We thank the Minister and the federal government for their support of Crawford and appreciate the thorough work undertaken by the Impact Assessment Agency of Canada. We look forward to continuing to advance Crawford towards a construction decision in 2027.”
“The Crawford nickel project is an example of Canada’s global critical minerals leadership, and today’s approval is a testament to our government’s commitment to getting projects approved and streamlining our permitting processes in a way that maintains rigorous environmental standards and respect for the rights of Indigenous Peoples. This is how we create investment certainty for Canadian mining here in Ontario and across the country, so we can be a critical minerals superpower and create economic growth and opportunity and enhance supply chain sovereignty for all Canadians,” added Tim Hodgson, Minister of Energy and Natural Resources.
About Canada Nickel Company
Ontario-based Canada Nickel Company is advancing one of the world’s largest nickel sulphide projects in conjunction with a resource-rich exploration portfolio.
Canada Nickel stock (TSXV:CNC) last traded at C$1.58 and has added 97.50 per cent year-over-year.
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