Highlights
- Processing facilities expected to be the largest nickel
processing facility in North
America and largest stainless-steel and alloy production
facility in Canada, filling a key
gap in the North American electric vehicle supply chain – utilizing
proven, low environmental footprint technology.
- Both processing facilities to be designed to be net
zero-carbon – utilizing Canada Nickel Company's carbon storage
capacity to store CO2 generated by each
facility.
- NetZero Metals led by Mike
Cox with 35 years of nickel processing experience and senior
leadership positions with Inco Ltd. and Vale SA overseeing a global
portfolio of nickel refineries.
TIMMINS, ON, Feb. 8, 2024 /CNW/ - Canada Nickel Company Inc.
("Canada Nickel") (TSXV: CNC) (OTCQX: CNIKF) announced today its
wholly-owned subsidiary, NetZero Metals Inc. ("NetZero Metals" or
the "Company"), 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."
"We have what the world needs right in our backyard to fuel the
electric vehicle revolution," said George
Pirie, MPP for Timmins and
Ontario Minister of Mines. "Thanks
to companies like Canada Nickel that believe in our community's
potential, Timmins is poised to
become a hub for the clean nickel we need to build the supply chain
for electric vehicles. This is another great example of a company
committed to working in the Timmins region to create opportunity and local
benefits for the people and our economy. Timmins is proud of our world-class mining
operations, and we can't wait to add another strong project to the
region to grow our community and create prosperity."
"When leaders like Canada Nickel invest in great northern cities
like Timmins to expand our mineral
processing capacity, it's a momentous day for the entire province,"
said Greg Rickford, Minister of
Northern Development and Minister of Indigenous Affairs. "Our
government will be there to support Northern communities as our
processing capacity for critical minerals is built out. We have a
tremendous opportunity to expand fully integrated supply chains for
the electric battery future, and that starts with investments like
these that create high quality jobs for hard working men and
women."
The NetZero Metals initiative represents a paradigm shift in the
nickel and stainless-steel industries. By combining world-class
expertise from around the globe, environmentally conscious
technology, and made-in-Canada
talent and solutions, Canada Nickel is not just envisioning a
greener future, but actively pursuing it.
"Since the very beginning of Canada Nickel's journey, our
partnership has been based on mutual respect and ensuring our
Treaty was honoured with a true seat at the decision-making table,"
said Chief Bruce Archibald of Taykwa
Tagamou Nation. "Our First Nation is proud to see Canada Nickel's
continued growth with their future downstream processing
facilities, and we'll proudly continue to partner with them based
upon the mutual principles we've always shared."
"Today's announcement highlights Timmins' position as a global leader in
sustainable and environmentally responsible mining," added
Michelle Boileau, Mayor for the
City of Timmins. "We are essential
to Canada's electric vehicle and
critical mineral supply chain. This means long-term direct and
indirect job creation to support Timmins Nickel District, which
adds to the diversification and stability of our local economy.
Canada Nickel's commitment to investing in the Timmins' region will benefit our people and
our community."
For more information, contact:
Mark Selby
CEO and Director
647-256-1954
info@canadanickel.com
Media contacts:
Sydney
Oakes
Director of Indigenous Relations and Public Affairs, Canada Nickel
Company
sydneyoakes@canadanickel.com
Dylan Moore
Director of Communications and Legislative Affairs, Minister of
Mines
dylan.moore3@ontario.ca
Background
About the Nickel Processing Facility
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
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.
About the Stainless-Steel and Alloy Processing
Facility
In addition to the nickel processing plant, a
stainless steel and alloy production facility is expected to be
established to process the nickel-chromium (NiCr) magnetite
concentrate from the Crawford Nickel project and other feeds to be
transformed into more than 1 million tonnes of alloy products,
including more than 500,000 tonnes of 304-grade stainless-steel
annually. The facility is expected to grow along with the expansion
at Crawford Nickel project and would become the largest
stainless-steel production facility in Canada.
Production is planned to begin in the latter half of 2027,
aligning with the planned start-up of the Crawford mine, subject to
permitting approvals. Discussions are currently underway with
leading global ferroalloy and stainless producers to partner on
this project.
About Zero-Carbon Nickel & Stainless-Steel
Production
A cornerstone of this venture, and all of Canada
Nickel's work, is its environmental stewardship. All carbon
emissions from both plants are expected to be captured and stored
in the tailings of the planned Crawford mine. This approach
positions both NetZero Metals plants as zero carbon emitters and
pioneers in the green steel industry on a global scale.
The Company has applied for trademarks for the terms NetZero
NickelTM, NetZero CobaltTM, and NetZero
IronTM in the U.S., Canada, and other jurisdictions related to
zero-carbon production of nickel, cobalt, and iron products.
Biographies of Global Nickel Processing
Leadership
NetZero Metals has assembled a world-class team
with deep nickel industry processing expertise led by Mike Cox, who led Inco and later Vale's U.K. and
Asian nickel refinery network.
Mike Cox
Mr. Cox
has 35 years of experience in base metal operations with Inco Ltd
and Vale SA. He has held a number of senior leadership positions in
Europe, Canada and Asia including the oversight of operations
which have delivered nickel products to consumers for use in
multiple generations of nickel batteries. Most recently, Mr. Cox
was the Head of UK and Asian Refineries at Vale with responsibility
for a portfolio of precious metal and nickel refineries. Mr. Cox
holds a BSc (Hons) in Chemistry and an MBA, both from the
University of Glamorgan.
Myung Bae
Kim
Mr. Kim has more than 33 years' experience in
project, procurement and production management in non-ferrous
material processing, metal smelting/refining and oil & gas
refining. He has held senior roles in large projects in
Korea, Oman, Turkmenistan and Saudi Arabia, and most recently was Project
Manager for the construction of Lithium-ion rechargeable battery
plants in Poland and China. Mr. Kim holds an MSc in Metallurgical
Engineering from Chonbuk National
University, Korea.
Keiji
Okamoto
Mr. Okamoto has 25 years of experience in
the fields of base metals processing and project management. He was
Head of Research and Development at Vale's Matsusaka nickel
refinery in Japan before becoming
the General Manager of the company's utility nickel smelter in
Kaoshiung, Taiwan. Most recently,
Mr. Okamoto worked as Chief Engineer on a project to construct the
largest automated warehouse in Japan. Mr. Okamoto holds an MSc in Global
Environmental Engineering from Kyoto
University.
Cautionary Note and Statement
Concerning Forward Looking Statements
This news release contains certain information that may
constitute "forward-looking information" under applicable Canadian
securities legislation. Forward looking information in this news
release includes, but is not limited to, statements relating to:
the development of a nickel processing facility and stainless-steel
and alloy production facility in the Timmins Nickel District; the
facilities utilizing Canada Nickel's carbon storage capacity at its
Crawford Nickel project to deliver zero carbon nickel and stainless
steel and alloy production; meeting the demand for the local supply
of critical minerals; providing a zero-carbon solution to produce
stainless steel and critical mineral alloys; benefits for the local
population, community and economy; timing and completion, if at
all, of feasibility studies; timing and completion, if at all, of
production at the planned facilities; expected production capacity
and further expansion of the facilities; timing of receipt of
permits and commencement of construction and initial production at
the Crawford project; and corporate and technical objectives.
Forward-looking information is necessarily based upon several
assumptions that, while considered reasonable, are subject to known
and unknown risks, uncertainties, and other factors which may cause
the actual results and future events to differ materially from
those expressed or implied by such forward-looking
information. Factors that could affect the outcome include,
among others: receipt of all required permits, results
of feasibility studies, procuring appropriate sites for the
facilities, partnering with leading global ferroalloy and stainless
producers, future prices and the supply of metals, the future
demand for metals, the results of drilling, inability to raise
the money necessary to incur the expenditures required to
retain and advance the property, environmental liabilities
(known and unknown), general business, economic,
competitive, political and social uncertainties, results of
exploration programs, risks of the mining industry, delays in
obtaining governmental approvals, failure to obtain regulatory or
shareholder approvals, and the impact of COVID-19 related
disruptions in relation to the Company's business operations
including upon its employees, suppliers, facilities and other
stakeholders. There can be no assurance that such information will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information.
Accordingly, readers should not place undue reliance on
forward-looking information. All forward-looking information
contained in this news release is given as of the date hereof and
is based upon the opinions and estimates of management and
information available to management as at the date hereof.
Canada Nickel disclaims any intention or obligation to update or
revise any forward-looking information, whether because of new
information, future events or otherwise, except as required by
law. 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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/canada-nickel-companys-netzero-metals-intends-to-develop-downstream-nickel--stainless-steel-processing-facilities-in-timmins-region-302056998.html
SOURCE Canada Nickel Company Inc.