oleocene.org

Canada Nickel starts working on Crawford, eyes 2027 production

Cecilia Jamasmie | April 11, 2024

Canada Nickel (TSX-V: CNC) has kicked off front end engineering design (FEED) at its flagship Crawford nickel project in northern Ontario, which it expects to bring into production in 2027.


Ausenco Engineering Canada, the engineering partner, will lead this development phase, which is planned to be finished by August. Data collected during the 2024 winter geotechnical program, which is nearing completion, will support FEED activities, Canada Nickel said.

“As we continue to successfully advance Crawford financing and permitting activities, we are confidently moving into this next phase of project development,” chief executive Mark Selby said.

Canada Nickel’s boss reiterated the company is aiming for a mine construction decision by mid-2025, with first production by the end of 2027.

The proposed operation will consist of two open pits complemented by an on-site mill, to be completed in two phases to allow for throughput ramp-up, the feasibility study showed. Total capital cost for the two phases is estimated at $3.5 billion.

Over a 41-year project life, total metal production is calculated at 3.54 billion lb. of nickel, 52.9 million lb. of cobalt, 490,000 oz. of palladium and platinum, 58 million tonnes of iron, and 6.2 million lb. of chromium.

Crawford’s feasibility study describes the use of conventional open-pit mining methods to extract 1,715 million tonnes of ore and 3,992 million tonnes of waste over a 33.5-year period. This time-frame includes 2.5 years of pre-stripping.


Entrance to the company’s flagship Crawford nickel-cobalt project. (Image courtesy of Canada Nickel.)

The company will use a mixed fleet of mining equipment for the open-pit, including 120-tonne-class backhoe excavators to load 40-tonne articulated trucks. Areas with sand and till footwall will be mined using 300-tonne electric face shovels to load 90-tonne trucks, Canada Nickel has said.

Peak production at Crawford nickel mine is expected in year 11, when autonomous trucks and remotely operated shovels are fully integrated into the operation. Canada Nickel counts the backing of top players in the mining and batteries markets. The Toronto-based miner attracted the interest of Agnico Eagle Mines (TSX, NYSE: AEM), Canada’s largest gold producer, which now owns 12% of Canada Nickel.

Also in January, the company secured an investment from South Korea’s Samsung SDI. Through this deal, the battery maker can earn a 8.7% in Canada Nickel as well as rights to 10% of the nickel-cobalt production from the Crawford project over its expected mine life.

Crawford hosts one of the world’s largest nickel resources, totalling 2.46 billion tonnes at 0.24% nickel for 13.3 billion pounds of contained nickel, according to its feasibility study. This pegged the project’s after-tax net present value (8% discount) at $2.6 billion and internal rate of return at 18.3%.

Denarius sees quick restart for former Lundin nickel-copper mine in Spain

Staff Writer | April 11, 2024 |


Aguablanca nickel-copper mine in Spain. Credit: Denarius Metals

Denarius Metals (CBOE: DMET) has released a prefeasibility study that supports the reopening of its 50%-owned Aguablanca nickel-copper mine in Spain.


Last operated by Lundin Mining (TSX: LUN) until its closure in 2016, Aguablanca is located in the town of Monesterio, 88 km southwest from Denarius’s 50%-owned Lomero copper-zinc project. Denarius acquired the Aguablanca stake last year from its now joint venture partner RNR Shareholder group for about $27 million.

“The (prefeasiblity) confirms our decision late last year to invest in the Aguablanca project, one of the only deposits in Spain able to produce nickel and copper,” said Denarius chair and CEO Serafino Iacono in a release.

“By the end of this year, we will have restarted the processing plant, which has been maintained in good condition, and completed the preparation for underground contract mining to deliver the first production of nickel-copper concentrates in early 2025.”

The study gives the underground mine six years of life with an investment of $36.2 million. The net present value with a 5% discount is $83.1 million with an after-tax internal rate of return of 213% with payback occurring by the end of 2025. The pit is to be dewatered and mining begin from underground. Denarius plans to use half of the mill’s capacity for Aguablanca, and half to treat ore from Lomero.

At long-term nickel and copper prices of $7.30 per lb. and $3.50 per lb., respectively, total life of mine undiscounted after-tax project cash flow from mining operations amounts to $105.7 million.

“This is a relatively small, underground, low capital-intensive project with a robust economic profile,” Red Cloud Securities mining analyst Taylor Combaluzier wrote in a note to clients.

“We believe the (prefeasibility study) demonstrates that Aguablanca could be restarted with only modest capex, while returning a compelling after-tax NPV and IRR. We believe Denarius is well on its way to becoming a near-term (nickel-copper) producer, with production expected from Zancudo in H2/24 and from Aguablanca in early 2025.”

According to the study, Aguablanca could produce a total of 43.2 million lb. nickel and 34.6 million lb. copper plus gold, platinum, and palladium. All-inclusive sustaining costs per lb. of nickel are forecast at $4.04.

Denarius reports that it has several potential customers in Europe willing to take the concentrates from the mine. It owns its stake in Aguablanca through its Spanish subsidiary, Alto Minerals.

When mining ended, there remained measured and indicated resources of 6.4 million tonnes grading 0.63% nickel and 0.56% copper. There was also an indicated resource of 242,000 tonnes at 0.52% nickel and 0.42% copper.

The company holds other assets in Spain as well as its Zancudo gold-silver-lead-zinc project in Colombia.

Côte d’Ivoire : l’américain Ivanhoe Electric acquiert un projet capable de livrer du nickel et du cuivre sur 16 ans

Agence Ecofin 26 mars 2024

Outre l’or, la Côte d’Ivoire dispose de réserves de manganèse, de coltan et de cuivre. La demande mondiale croissante pour ces métaux attire de nouveaux investisseurs dans le pays, laissant espérer à terme une diversification de la production minière au-delà du métal jaune.

L’américain Ivanhoe Electric dirigé par le vétéran de l’industrie minière Robert Friedland, a déjà dépensé 25 millions de dollars canadiens (18,4 millions $) dans le projet Samapleu-Grata. Dans un communiqué publié le 25 mars, la société indique que cet investissement lui permet d’obtenir 60 % d’intérêts dans ce projet de nickel-cuivre situé en Côte d’Ivoire.

Selon une évaluation économique préliminaire (PEA) publiée plus tôt ce mois par le canadien Sama Resources, propriétaire initial du projet, Samapleu-Grata peut être exploité sur 16,1 ans. La mine devrait livrer sur cette période 887 414 tonnes de concentré de nickel et 621 888 tonnes de concentré de cuivre. La production annuelle de nickel métal sur la durée de vie de la mine devrait être de 7 165 tonnes, contre 10 043 tonnes pour la production annuelle de cuivre métal.

Pour concrétiser ce potentiel, il faudrait un capital initial de 338 millions $ pour la construction de la mine, avec un délai de récupération de 3,8 ans après impôts. La valeur actuelle nette du projet est de 257 millions de dollars après impôts, avec un taux de rentabilité interne de 22,3 %.

Comme son nom l’indique, la PEA fournit des résultats préliminaires qui devraient subir des modifications plus ou moins importantes à l’avenir. Cependant, le potentiel révélé par l’évaluation laisse déjà espérer une contribution à la production de cuivre et de nickel de la Côte d’Ivoire dans quelques années. Cela participera à la diversification du secteur minier ivoirien, actuellement dominé par l’exploitation de l’or.

Pour rappel, le projet Samapleu-Grata est situé dans l’ouest de la Côte d’Ivoire, à environ 600 km de la capitale Abidjan. Sama Resources détient désormais une participation de 40 % dans l’actif.

Indonesia says Vale to build another $2bn HPAL plant

Reuters | March 18, 2024

Nickel miner PT Vale Indonesia is exploring a potential investment in a high-pressure acid leaching plant in Sulawesi island, with an estimated cost of 30 trillion rupiah ($1.91 billion), its investment ministry said on Monday.


The plant, named “SOA HPAL”, will be the company’s third such project to turn nickel ore into mixed hydroxide precipitate (MHP) – a material used to make electric vehicle batteries, according to presentation material shown by Indonesia’s Investment Minister Bahlil Lahadalia.

A Vale Indonesia spokesperson declined to comment.

The plant could have an annual output capacity of 60,000 metric tons of nickel in MHP, the ministry said, adding Vale Indonesia is completing its final stage of exploration and it will partner with automakers.

Vale Indonesia already has two HPAL plants under construction in Sulawesi Island, in Pomalaa and Sorowako. Both projects are in partnership with Zhejiang Huayou Cobalt.

US carmaker Ford is involved in the $4.5 billion Pomalaa plant.

Last month, Indonesia’s state mining company MIND ID agreed to acquire a 14% stake in Vale Indonesia from Vale Canada and Japan’s Sumitomo Metal Mining to become a top shareholder.

($1 = 15,685.0000 rupiah)

Indonesia issues nickel production quotas for 152.62mt

Reuters | March 19, 2024

......................
In 2023, Indonesia produced 193.5 million tons of nickel ore.
.......................

La Tanzanie approuve la construction d’une raffinerie de nickel pour le marché des véhicules électriques

Agence Ecofin 22 mars 2024

Le nickel est l’un des minéraux essentiels à la transition énergétique, en raison de son utilisation dans les batteries de véhicules électriques. Alors que la Tanzanie veut rejoindre le cercle des principaux producteurs africains du métal, le pays s’active pour transformer localement la production.

En Tanzanie, Lifezone Metals a annoncé le 21 février l’obtention d’une licence pour exploiter une usine de traitement pour le cuivre, le nickel et le cobalt. Installé dans une zone économique spéciale dans le district de Kahama, le site servira prioritairement à raffiner la future production du projet de nickel Kabanga, afin d’alimenter le marché des batteries électriques.

Lors d’une visite en Tanzanie il y a un an, la vice-présidente des États-Unis Kamala Harris déclarait que l’installation serait la première usine de production de nickel de qualité batterie du pays. Prévue pour entrer en production d’ici 2026, la raffinerie servira aussi à d’autres compagnies minières présentes en Tanzanie et obligées d’exporter les concentrés de métaux vers des raffineries à l’étranger, selon le ministre des Mines Anthony Mavunde.

« L’investissement de la raffinerie multi-métaux va redonner vie au district de Kahama et à la région de Shinyanga en augmentant les possibilités d’emploi formel et informel pour les citoyens », a ajouté le commissaire régional de Shinyanga, Anamringi Macha.

Pour rappel, le projet de nickel de Kabanga et la future raffinerie sont détenus par une coentreprise contrôlée à 84 % par Lifezone Metals, contre 16 % d’intérêts pour le gouvernement tanzanien. Une étude de faisabilité définitive devrait être achevée pour la future mine d’ici le troisième trimestre 2024.

Nickel faces existential moment with half of mines unprofitable

Bloomberg News | February 26, 2024

Many of the world’s biggest nickel mines are facing an increasingly bleak future as they wake up to an existential threat: a near limitless supply of low-cost metal from Indonesia.


With roughly half of all nickel operations unprofitable at recent prices, the bosses of the largest mining companies last week sounded a warning that there was little prospect of a recovery.

The potential collapse of nickel mining from Australia to New Caledonia comes at a time when western governments are scrambling to secure the supply chains needed to decarbonize the global economy. But in an ironic twist, Indonesia’s coal-fired nickel output is pricing out greener metal that’s so far failed to command a market premium.

Wresting control of strategic metals from China has become a focal point of Joe Biden’s administration. Yet while US officials have dashed around the world looking to strike deals for materials such as cobalt and copper, the heaviest reverse has come in Chinese-backed Indonesian nickel, a key component of electric vehicles.

Indonesia now accounts for more than half of world supply, with the potential to reach three-quarters of all production toward the end of the decade.

....................
....................

Glencore banks on Anuri mine to extend life of Raglan nickel-copper project

By Marilyn Scales February 27, 2024

Glencore (LSE: GLEN) has inaugurated the Anuri mine, which will lengthen the Raglan nickel-copper project’s life for at least 20 years. The company says this is undertaking highlights its ongoing commitment to the local communities in which it operates.

The mine’s name Anuri, which means “wind” in Inuktitut, was chosen by a committee of Raglan employees. The mine is part of the Sivumut or “moving forward” project in Nunavik.

Glencore director of projects, geology and exploration Jan-Francois Verret said the project was a challenge on every level. “… particularly given the pandemic, the Arctic climate and numerous logistical challenges. Nevertheless, we completed the Sivumut project ahead of schedule, under budget and with everyone's safety at the heart of every step. We achieved this through outstanding collaboration within our team and with our partners."

The Raglan mine began operations in 1997. It was the first mining project to sign an impact and benefits agreement with the local Indigenous bands. With the Sivumut project, Glencore has continuously improved the Raglan agreement, particularly in the area of land use, culminating in the current ESG protocols that meet Quebec’s provincial environmental act and the James Bay and Northern Quebec Agreement.

The Sivumut project is composed of two phases: Phase 2 and Phase 3 of the Raglan mine. Phase 2 consists of the expansion of an existing mine, the Qakimajurk mine, and the opening of a new underground mine, the Anuri mine project. Mining is expected to take place from 2020 to 2035. The extension of the Qakimajurk mine, known as project 8, was completed in 2021.

The Sivumut project lies entirely within the property boundaries of the Raglan mine. All mining will take place underground to reduce the surface footprint of the activities. Existing infrastructure is leveraged – the concentrator, housing, port facilities at Deception Bay, airport, roads, and all water treatment systems.

The Raglan project has proven and probable reserves of 15 million tonnes grading 2.54% nickel, 0.72% copper and 0.06% cobalt. Reserves are included in the measured and indicated resource, which totals 44 million tonnes at 2.51% nickel, 1.96% copper, and 0.05% cobalt.

Lifezone Metals plans two-phase development for Kabanga nickel project

By NS Energy Staff Writer 27 Feb 2024

The DFS, which is currently underway, evaluates the technical specifications and economic business case of the Kabanga underground nickel-copper-cobalt Mine, Kabanga concentrator and Kahama hydromet refinery


Lifezone Metals announces two-phase development plan as the base case for Kabanga nickel project's DFS. (Credit: Lifezone Metals)

Lifezone Metals has announced a two-phase development plan for its Kabanga nickel project located in north-west Tanzania.

According to the company, the new plan for the Tanzanian nickel project will form the base case of its definitive feasibility study (DFS).

The DFS, which is currently underway, evaluates the technical specifications and economic business case of the Kabanga underground nickel-copper-cobalt Mine, Kabanga concentrator and Kahama hydromet refinery.

It is scheduled to be completed by the end of Q3 2024.

Lifezone Metals stated that the mine planning is also underway, including the deployment of modifying factors to establish the economic viability of mineral reserves, with various major capital items tendered.

The design work and mine planning of the Kabanga nickel project supports an estimated operation of 3.4 million tonnes per year in total. This includes a 1.7 million tonne per year phase 1 and an additional 1.7 million tonne per year phase 2 expansion.

Lifezone Metals CEO Chris Showalter said: “We have made solid progress advancing the Kabanga Definitive Feasibility Study, which is progressing both on-time and on-budget, with activities occurring across various countries (Tanzania, South Africa and Australia).

“Ongoing refinement of the development plan and metallurgical testing is aimed at maximising the net present value of the Project while optimising capital outlays.”

Lifezone Metals acquired the Kabanga nickel project in 2021. The Tanzanian project will become a mine-to-metal mining operation producing battery-grade nickel, copper and cobalt.

The Kabanga concentrator test work conducted showcased high recoveries of nickel, copper and cobalt to concentrate, said the modern metals company.

Besides, Lifezone Metals said that the Kahama hydromet refinery will enable in-country beneficiation of nickel, copper and cobalt with low carbon dioxide and zero sulphur dioxide emissions.

Horizonte’s Araguaia Nickel Project cost surges to $1bn

The revised estimate for the project indicates an 87% increase from the previous capital expenditure (capex) budget of $537m (£426.5m).

February 20, 2024

Horizonte Minerals has disclosed a significant jump in the estimated capital required to complete its Araguaia Nickel Project in Brazil.

The preliminary results of a cost-to-complete (CTC) estimate and schedule review indicate that the project will now require nearly $454m to construct, commission and deliver the first metal.

The company noted that the revised estimate at completion for the Araguaia project stands at $1bn, marking an 87% increase from the previous capex budget of $537m.

Horizonte anticipates that the project will achieve mechanical completion by Q1 2026.

The review was conducted by G Mining Services (GMS), a company with expertise in mining construction and engineering.

GMS is responsible for the construction of the Tocantinzinho gold project in Brazil and has a track record of successful mining project completions, including Lundin Gold‘s Fruta del Norte Project in Ecuador and Newmont Mining’s Merian Mine in Suriname.

In response to the revised CTC, Horizonte is engaging with its major shareholders and senior lenders to secure a full funding solution, expected to be in place by Q2 2024.

The company is also in discussions to restructure its debt facilities and is actively seeking additional investment from both existing and new potential investors.

Horizonte said it is committed to working closely with its financial partners to address the increased capital requirements and ensure the project’s progression.

Horizonte interim CEO Karim Nasr said: “Since our last update, a significant volume of work has been completed to develop a new Project Execution Plan, develop a realistic mine plan and business plan, all while continuing to proactively engage with the company’s cornerstone shareholders, senior lenders, vendors and contractors as well as the community and local authorities.

“While the new cost-to-complete is higher than previously announced by the company, it is now built on solid methodologies, which is a testament to the hard work undertaken to date by the whole Horizonte team.

“The company is pleased to partner with G Mining Services, who have a track record of success in the region and are currently building the Tocantinzinho project with G Mining Ventures in Para state. The company is now in a position to properly assess its ability to finance and complete the Araguaia Nickel Project (Line 1) and bring it into production.”

BHP considers closing Western Australia nickel operations amid price decline

Staff Writer | February 15, 2024

BHP announced on Thursday that it is considering closing its Western Australia Nickel operations amid a sharp fall in prices.

The miner said it could place Nickel West into care and maintenance and that it was assessing the phasing and capital spend for the development of the West Musgrave project, acquired as part of the OZ Minerals transaction last year. The project held a value of $1.2 billion at the time of acquisition.

Nickel prices fell 40% in the last year as Indonesian supply jumped, causing restructures and writedowns at nickel mines across Australia.

“This is an uncertain time for the Western Australia nickel industry and we are taking action to address the current market conditions,” BHP CEO Mike Henry said in the statement. “We are reducing operating costs at Western Australia Nickel and reviewing our capital plans for Nickel West and West Musgrave.”

BHP has indicated a non-cash impairment charge of approximately $2.5 billion against the carrying value of Western Australia Nickel, encompassing both the Nickel West operations and the West Musgrave project.

This impairment results in the reduction of Western Australia Nickel’s net operating assets carrying value to a negative $300 million, which includes closure and rehabilitation provisions totaling around $900 million.

Nickel West’s Kambalda concentrator will be placed into care and maintenance in June 2024 as Wyloo Metals, controlled by Australian billionaire Andrew Forrest, decided to suspend its Cassini and Northern Operations mines from May 31.

The Cassini and Northern Operations mines provide the majority of ore feed into the Kambalda concentrator and it will be no longer viable for Nickel West to continue operating the milling circuit after those mines cease operating.

Western Australia offers royalty relief to struggling nickel producers

Reuters | February 17, 2024

Western Australia said on Saturday it would offer royalty relief to nickel producers in a bid to buoy the struggling industry, a day after the metal was classified as a “critical mineral”, paving the way for producers to access billions of dollars in cheap government loans.

Australia wants to build a battery chemicals industry to reap more value from mineral wealth, but its nickel sector faces heavy job cuts after a jump in Indonesian supply saw prices drop 40% in a year.


In a statement on Saturday, Western Australia Premier Roger Cook announced a nickel financial assistance program, which he said would give a 50 percent royalty rebate for 18 months, when prices were below $20,000 per tonne, repayable over 24 months.

“The Cook government will offer royalty relief to Western Australia’s crucial nickel industry, supporting thousands of local jobs as well as the state’s vision of becoming a global battery minerals processing hub,” the premier’s statement said.

Federal Resources Minister Madeleine King on Friday placed nickel on the critical minerals list, meaning nickel companies will have access to financing under Australia’s $2.6 billion Critical Minerals Facility which offers low interest loans, and related grant programmes.

Weak nickel prices have forced Australia’s high cost producers to announce several writedowns and restructures, and analysts said last month it will force a rethink by top global miner BHP Group on its nickel strategy this year.

Chute des prix du nickel: BHP annonce une dépréciation de 2,3 mds USD

BOURSORAMA AVEC AFP•15/02/2024

Le géant minier BHP a annoncé jeudi qu'il allait réduire de 2,3 milliards de dollars la valeur de ses actifs australiens liés au nickel après une baisse prolongée des prix du métal provoquée par une forte hausse des exportations indonésiennes à bas coût.

La société anglo-australienne a annoncé déprécier ses actifs en Australie occidentale invoquant les "conditions actuelles du marché", dans une communication à la Bourse australienne.

Le nickel est essentiel à la fabrication de l'acier inoxydable et des batteries électriques, indispensables dans la transition énergétique.

Mais le marché du nickel a été chahuté par une forte hausse des exportations indonésiennes, suite à des investissements chinois massifs dans le secteur et à une révolution dans les techniques de raffinage qui ont permis d'utiliser du nickel de moindre qualité pour les batteries.

Les prix du nickel ont chuté d'environ 40% sur la seule année 2023, poussant de nombreux groupes à repenser leurs projets ou à déprécier la valeur de leurs actifs.

"L'industrie du nickel est confrontée à des défis et les prix ont fortement chuté", a déclaré BHP dans un communiqué.

"L'offre de nickel en provenance d'Indonésie a considérablement augmenté et le London Metals Exchange (principale Bourse des métaux non ferreux ndlr) a commencé à accepter des produits du nickel d'origine indonésienne".

"Ces conditions d'exploitation défavorables devraient perdurer pendant une longue période", a ajouté la société.

Le groupe suisse Glencore, rival de BHP, a récemment annoncé qu'il envisageait de se débarrasser de sa participation dans l'usine de production de ferronickel de Koniambo Nickel SAS (KNS) en Nouvelle-Calédonie en raison d'importantes pertes.

Alaska Energy boosts contained nickel at Nikolai project to 8 billion lb.

Staff Writer | February 12, 2024

Alaska Energy Metals (TSXV: AEMC) said on Monday that its 100% owned Eureka deposit, part of its flagship Nikolai polymetallic project in Alaska, now contains one of the biggest known nickel resources in the US following an update to the NI 43-101 mineral resource estimate (MRE).


The new MRE includes 813 million tonnes of indicated material grading 0.22% nickel, plus 0.07% copper, 0.02% cobalt, 0.048 g/t platinum, 0.094 g/t palladium and 0.012 g/t gold, for a nickel-equivalent (NiEq) grade of 0.29%. The contained nickel metal is nearly 3.9 billion lb.

There are also 896 million tonnes of inferred material grading 0.27% NiEq (0.21% nickel, 0.05% copper, 0.02% cobalt, 0.039 g/t platinum, 0.068 g/t palladium and 0.009 g/t gold), containing 4.2 billion lb. of nickel. The inferred resource grew 180% in tonnage compared to the deposit’s initial resource published in November 2023.

The 2024 resource estimate incorporated 35 historical drill holes, the data for which Alaska Energy purchased in August 2023, and eight diamond drill holes (totaling 4,138 metres) drilled by the company in 2023. The resource area covers three zones (EZ1, EZ2, EZ3) of sulphide mineralization spanning 4.5 kilometres of the Eureka deposit.

The highlight of recent drilling was the identification of a higher-grade core zone within EZ2 that displayed continuity along much of the strike of the deposit. This core zone alone contains an indicated resource of 211 million tonnes at 0.34% NiEq and an inferred resource of 154 million tonnes at 0.33% NiEq.

“In less than a year, we have taken an exploration concept to a substantial deposit of nickel and other critical metals,” Alaska Energy Metals CEO Gregory Beischer commented in a news release. “The update increases the nickel metal content of the deposit to over 8 billion lb. (more than 3.7 million tonnes) with only a 0.01% grade decrease and a notably lower strip ratio.”

The Eureka deposit of the Nikolai project now represents a globally significant accumulation of nickel and has now become one of the larger known nickel deposits in the country, Beischer noted. The project is located 40 km northwest of the village of Paxson, on the southern flank of the Alaska Range.

“Nikolai could potentially become an important source of nickel for the US, catering to the needs of various manufacturing sectors including stainless steel, electric vehicles, defense components, long-term, grid-scale renewable energy storage batteries and a myriad of other uses,” he said.

Regarding the high-grade core zone at EZ2, Beischer said the company will continue to evaluate this area as it could positively affect project economics.

The Nikolai project is a possible host to disseminated nickel-copper-cobalt-PGE mineralization analogous to the Crawford deposit in Canada and the Norilsk mine in Russia, the company said.

Canada Nickel to build $1bn nickel processing facility
The nickel processing facility is expected to reach an annual capacity of more than 80,000 tonnes (t).

February 9, 2024

Canada Nickel Company, through its subsidiary NetZero Metals, is planning to construct a nickel processing facility in the Timmins Nickel District in Canada.

The company is looking to raise $1bn (C$1.34bn) to fund the development of the plant, reported Bloomberg News.

Set to be the largest in North America, this processing plant is expected to reach an annual capacity of more than 80,000t of nickel.

With production anticipated to start by 2027, the facility will cater to the stainless-steel/superalloy and electric vehicle markets using low environmental footprint technology.

Furthermore, NetZero Metals plans to build a stainless steel and alloy production facility to process nickel-chromium magnetite concentrate from the Crawford Nickel project and other sources.