Canada Nickel (TSXV: CNC) is aiming to get into the manufacturing business, announcing this morning that its subsidiary NetZero Metals intends to develop a nickel processing facility as well as a stainless steel and alloy production facility.
The proposed facilities are slated to be located within the Timmins Nickel District, where they are expected to “fill a critical link in the development of North American critical minerals supply chains.” Site selection is said to be ongoing, as are feasibility studies that are slated to be completed by year end, with the necessary engineering firms as of yet unselected.
In terms of timeline the company is being aggressive, with the intent of beginning nickel processing production by 2027. The operation intends to be the largest in North America. No timeline was provided for the opening of the proposed stainless steel and alloy production facility, however the company has said the facility will be the largest in Canada.
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“These processing facilities will position the Timmins Nickel District and Canada at the forefront of the global transition to greener energy and materials. 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,” commented Mark Selby, CEO of Canada Nickel.
The proposed facilities are expected to have the capability to produce 80,000 tonnes of nickel annually, along with 1.0 million tonnes of alloy products, which includes 500,000 tonnes of 304-grade stainless-steel.
Canada Nickel last traded at $1.37 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
