Canada Nickel Co. introduces plans for new processing facilities, but funding remains uncertain – by Matthew McClearn (Globe and Mail – February 9, 2024)

Canada Nickel Company Inc. announced plans Thursday to build two large processing facilities near Timmins, Ont., whose output would be directed partly to North America’s rapidly growing market for electric vehicles.

The company said its wholly owned subsidiary, NetZero Metals Inc., intends to build a nickel-processing facility it described as North America’s largest, as well as a stainless-steel and alloy plant it said would be Canada’s biggest.

The company added that it’s studying several brownfield properties in the Timmins region and hopes to select sites within a few months. Neither facility has been designed yet, but Canada Nickel said it planned to award that work to engineering firms shortly. The combined cost is expected to be roughly $1-billion.

Canada Nickel is a small exploration company with limited resources but large ambitions. It recently revealed a feasibility study for its proposed $1.9-billion Crawford nickel mine, which the company said will be the world’s second largest. The final decision on whether to construct that mine is scheduled for next year.

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