TORONTO, Jan. 15,
2025 /CNW/ - Canada Nickel Company Inc.
("Canada Nickel" or the "Company") (TSXV: CNC)
(OTCQX: CNIKF) is pleased to announce that it has been awarded
$500,000 from the Government of
Ontario's Critical Minerals
Innovation Fund ("CMIF") to support the development of its nickel
processing facility ("the Project") through its wholly owned
subsidiary, NetZero Metals Inc. This commitment reinforces
Ontario's commitment to building a
sustainable and reliable battery metal supply chain while reducing
carbon emissions and fostering innovation in critical minerals
processing.
The Project, expected to be located near Canada Nickel's
flagship Crawford Nickel Sulphide Project ("Crawford") close to
Timmins, Ontario, aims to develop
and validate a process flowsheet for converting Crawford's nickel
concentrate and third-party feeds into nickel and nickel-cobalt
products essential for battery plants in southern Ontario. Leveraging cutting-edge technology,
the proposed facility will utilize biochar, a locally sourced,
renewable reductant, to replace conventional coal-based materials
such as coke and anthracite, thereby minimizing carbon intensity.
Once operational, the plant is expected to produce over 75,000
tonnes of nickel annually when fully ramped up, marking a
significant step forward for nickel's domestic supply chain.
Mark Selby, CEO of Canada Nickel,
expressed his gratitude for the Government of Ontario's support, "This commitment highlights
the province's leadership in fostering innovation and advancing
clean technology solutions. By supporting our efforts to develop a
low-cost, low-carbon nickel processing facility, Ontario is strengthening the foundation for a
sustainable battery metal supply chain that will drive economic
growth and contribute to the global energy transition."
Canada Nickel is collaborating with industry leaders, such as
Kingston Process Metallurgy, to advance the design and testing of
this innovative processing technology. The funding from CMIF will
play a crucial role in validating the process design through lab
and pilot-scale metallurgical testing using representative feed
samples and Ontario-produced
biochar.
Mike Cox, CEO of NetZero Metals,
emphasized the transformative potential of the project, "The
NetZero Metals Inc. facility represents a first-of-its-kind
approach in the Western world to use biochar-based reductants in
pyrometallurgical nickel processing. This innovation not only
addresses the growing demand for low-carbon battery metals but also
reinforces Ontario's position as a
leader in clean and sustainable resource development."
"As our economy grows with an increased need for critical
minerals, our government is strengthening a made-in-Ontario supply chain, ready to fuel the
technologies of tomorrow," said George
Pirie, Minister of Mines. "Companies like Canada Nickel, and
others working on Critical Minerals Innovation Fund projects
showcase our province's unique talent and potential to build a
competitive critical minerals industry."
Together with the Government of Ontario, Canada Nickel and
NetZero Metals Inc. are driving innovation and creating a more
sustainable future for the province and beyond.
About Canada Nickel Company
Canada Nickel Company Inc.
is advancing the next generation of nickel-sulphide projects to
deliver nickel required to feed the high growth electric vehicle
and stainless steel markets. Canada Nickel Company has applied in
multiple jurisdictions to trademark the terms NetZero Nickel™,
NetZero Cobalt™, NetZero Iron™ and is pursuing the development
of processes to allow the production of net zero carbon nickel,
cobalt, and iron products. Canada Nickel provides investors with
leverage to nickel in low political risk jurisdictions. Canada
Nickel is currently anchored by its 100% owned flagship Crawford
Nickel Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. For more information,
please visit www.canadanickel.com
About NetZero Metals Inc.
Canada Nickel has launched
wholly-owned NetZero Metals Inc. to develop zero-carbon production
of Nickel, Cobalt and Iron and holds trademarks for NetZero
Nickel™, NetZero Cobalt™ and NetZero Iron™ across several
jurisdictions. Over three phases, the nickel processing plant is
expected to reach a capacity of more than 80,000 tonnes of nickel
annually, which is expected to make it the largest nickel
processing facility in North America. Subject to permitting
approvals, the plant plans to begin production by the start of 2027
utilizing third party feeds. The facility is expected to be further
expanded with the startup and expansion of Canada Nickel's Crawford
Nickel Sulphide Project. This plant is expected to utilize proven,
low environmental footprint technology to produce high-quality
nickel products, catering to the needs of both the
stainless-steel/superalloy and the electric vehicle markets. For
more information, please visit
www.canadanickel.com/#netzero
About the Critical Minerals Innovation Fund
The
Critical Minerals Innovation Fund (CMIF) provides funding to
projects that help strengthen Ontario's critical minerals sector.
The CMIF supports projects that involve research,
development and commercialization of innovative technologies,
techniques, processes and solutions for critical minerals and
relate to Ontario's key priority
areas. For more information, please visit
https://www.ontario.ca/page/critical-minerals-innovation-fund#section-0
Media, please contact:
Melanie
Paradis
Phone: 416-399-7400
Email: melanie@yourtexture.com
Sydney Oakes, Director of
Indigenous Relations and Public Affairs
Phone: 905-929-7151
Email: sydneyoakes@canadanickel.com
Cautionary Statement Concerning Forward-Looking
Statements
This press release contains certain information
that may constitute "forward-looking information" under applicable
Canadian securities legislation. Forward looking information
includes, but is not limited to, the construction of processing
facilities, the ability of the Company to deliver nickel required
to feed the high growth electric vehicle and stainless-steel
markets, and the development of processes to allow the production
of net zero carbon nickel, cobalt, and iron products. Readers
should not place undue reliance on forward looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Canada Nickel to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. There are
no assurances that Crawford will be placed into production. Factors
that could affect the outcome include, among others: inability to
repay the loan or comply with the covenants set out in the loan
agreement; the actual results of development activities; project
delays; inability to raise the funds necessary to complete
development; general business, economic, competitive, political and
social uncertainties; future prices of metals or project costs
could differ substantially and make any commercialization
uneconomic; availability of alternative nickel sources or
substitutes; actual nickel recovery; conclusions of economic
evaluations; changes in applicable laws; changes in project
parameters as plans continue to be refined; accidents, labour
disputes, the availability and productivity of skilled labour and
other risks of the mining industry; political instability,
terrorism, insurrection or war; delays in obtaining governmental
approvals, necessary permitting or in the completion of development
or construction activities; mineral resource estimates relating to
Crawford could prove to be inaccurate for any reason whatsoever;
additional but currently unforeseen work may be required to advance
to the feasibility stage; and even if Crawford goes into
production, there is no assurance that operations will be
profitable. Although Canada Nickel has attempted to identify
important factors that could cause actual actions, events or
results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results to differ from those anticipated,
estimated or intended. Forward-looking statements contained herein
are made as of the date of this news release and Canada Nickel
disclaims any obligation to update any forward-looking statements,
whether as a result of new information, future events or results or
otherwise, except as required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
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SOURCE Canada Nickel Company Inc.
