February 8, 2024 (Globalinvestorideas.com Newswire) Investorideas.com (www.investorideas.com) Mining Stock News Bites – Canada Nickel Company Inc. (TSXV: CNC) (OTCQX: CNIKF) announced its wholly-owned subsidiary, NetZero Metals Inc. , intends to develop two processing facilities in the Timmins Nickel District: 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 Canada Nickel’s carbon storage capacity at its Crawford Nickel project to deliver zero carbon nickel and stainless steel and alloy production.
The Company is currently at the site-selection stage, considering several sites in the region. The Company is also in the process of choosing engineering firms to complete the design of both facilities and expects to announce the selected firms shortly. Feasibility studies are underway and expected to be completed by year-end, with the nickel processing plant expected to begin production by 2027.
“These processing facilities will position the Timmins Nickel District and Canada at the forefront of the global transition to greener energy and materials,” said Mark Selby, CEO of Canada Nickel Company. “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.”
Selby added, “I am excited that we have been able to assemble a global team led by Mike Cox, who has 35 years of nickel processing experience, to build and operate these new facilities. With the growth in electric vehicle manufacturing in Ontario, NetZero Metals provides a zero-carbon solution to produce stainless steel and critical mineral alloys while powering electric vehicles with truly clean nickel.”
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