Canada Nickel (TSXV: CNC) continues to focus efforts on CO2 sequestration, even as ESG principles continue to fall out of favor with the public. The company this morning announced a partnership with an Australia-based firm that could see the sequestration of over ten times more CO2 than previously estimated at Crawford using fresh technology.
The collaboration, with the Australia-based NetCarb, will see Canada Nickel work to assist with the commercialization of new sequestration technology that targets carbonation of serpentine minerals. The new tech is said to use serpentinite activation, which is then followed by processing of ore through a CO2 activity swing reactor that dissolves and re-precipitates magnesium as solid carbonate minerals, which is said to result in permanent carbon dioxide sequestration.
This new process is expected to increase the CO2 sequestration ability of ultramafic mineralization by tenfold compared to current practices. At Canada Nickel’s Crawford project specifically, it has the potential to sequester over 500 million tonnes of CO2 over the life of the project as per the company, while opening the potential for the Timmins region to e a “multi-gigatonne hub for mineral carbon sequestration.”
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As part of the commercialization effort, the duo aim to secure government funding to scale the technology, and also aim to attract further industrial partners in the Timmins region to create a “NetZero Industrial Cluster.”
“While Canada Nickel’s proprietary IPT Carbonation process provides a carbon storage capacity facilitating as much as 1.5 million tonnes of annual CO2 storage capacity, the NetCarb process has the potential to increase the CO2 storage capacity of Crawfords tailings by a further magnitude to 10-15 million tonnes of annual carbon storage capacity, representing a magnitude scale leap forward and the third generation of mineral-based carbon sequestration,” commented Mark Selby, CEO of Canada Nickel, on the partnership.
Canada Nickel last traded at $1.00 on the TSX Venture.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
