Canada Nickel Achieves Major Permitting Milestone with Completion of Filing of Impact Statement for Crawford Nickel Sulphide Project

Rhea-AI Summary

Canada Nickel (OTCQB: CNIKF) has filed its Impact Statement for the Crawford Nickel Sulphide Project with the Impact Assessment Agency of Canada on November 22, 2024. This milestone keeps the project on track for permits and construction decision in 2025. The company has conducted extensive environmental and socio-economic studies since 2021, engaging with Indigenous communities and stakeholders. According to the Feasibility Study, the 41-year project is expected to generate $63 billion in revenue, create over 1,000 jobs, and contribute $9.6 billion in various taxes from a $6.8 billion investment.

Positive

• Project on schedule for construction decision in 2025
• Projected $63 billion in revenue over 41-year lifecycle
• Expected creation of over 1,000 jobs
• Anticipated $9.6 billion in tax contributions
• First mining project in Canada to file Impact Statement under 2019 Impact Assessment Act

Negative

• Significant initial investment requirement of $6.8 billion

TORONTO, Nov. 26, 2024 /PRNewswire/ -- Canada Nickel Company Inc. ("Canada Nickel" or "The Company") (TSX V: CNC) (OTCQB: CNIKF)  has achieved a significant milestone with the completion of the filing of the Impact Statement for the Crawford Nickel Sulphide Project with the Impact Assessment Agency of Canada on November 22, 2024. The Impact Statement was prepared by Stantec, a global leader in sustainable design and engineering. This important step forward keeps the Project on schedule to secure permits and make a construction decision in 2025.

"This submission is a reflection of the extraordinary work of our team and partners and our commitment to meaningful collaboration with Indigenous communities and stakeholders," said Mark Selby, CEO of Canada Nickel. "We've gone from the fifth drillhole in September 2019 to become the first mining project in Canada to file an Impact Statement under the 2019 Impact Assessment Act. The ability to achieve this milestone in just over five years also reflects the federal government's commitment to timely and efficient permitting processes and effective engagement with proponents.  It's a major step forward as we advance Crawford – projected to be one of the world's largest and most sustainable nickel sulphide projects - towards production."

Since 2021, Canada Nickel has conducted extensive baseline environmental and socio-economic studies to inform the Impact Statement, combining rigorous scientific analysis with valuable insights from Indigenous Knowledge and community input.

Highlights of Engagement Efforts:

• Funding Indigenous Nations to ensure authentic and meaningful participation, such as funding the Nations own Traditional Land Use and Socioeconomic studies to guide project planning.
• Hosting technical working group sessions, community open houses, and site visits with Indigenous leadership, local leaders, and regional stakeholders.
• Organizing Environmental and Socioeconomic Committees inclusive of local multi-disciplinary subject matter experts to inform project planning.   

"Throughout the Impact Statement, it is clear how much the Company has prioritized minimizing impacts while maximizing the benefits this Project will bring to the entire region," said Pierre-Philippe Dupont, Vice President of Sustainability. "Since day one, we've taken a true partnership-based approach that has defined this entire process. By engaging early and often with Indigenous Nations, local communities, and stakeholders, we've ensured this Project reflects our shared priorities and values."

The Crawford Nickel Sulphide Project is expected to generate significant benefits for Northern Ontario, including the creation of thousands of jobs, strengthening local businesses, and contributing to economic growth. According to the Company's bankable Feasibility Study, over its 41 year lifecycle, the Project is projected to generate more than $63 billion in revenue, over 1,000 jobs, $7 billion in federal and provincial income taxes, and a further $2.6 billion in provincial mining taxes, from a total investment of $6.8 billion

With the Impact Statement now filed and following the Impact Assessment Agency's confirmation review, the Project will move into the Indigenous and public consultation phase of the Impact Assessment process. Throughout this process, Canada Nickel remains committed to ongoing dialogue with Indigenous Nations, stakeholders, and government representatives to ensure the project progresses in alignment with its principles of sustainability, collaboration, and delivering benefits to local communities.

About Stantec
Stantec empowers clients, people, and communities to rise to the world's greatest challenges at a time when the world faces more unprecedented concerns than ever before.  

We are a global leader in sustainable architecture, engineering, and environmental consulting. Our professionals deliver the expertise, technology, and innovation communities need to manage aging infrastructure, demographic and population changes, the energy transition, and more. 

Today's communities transcend geographic borders. At Stantec, community means everyone with an interest in the work that we do—from our project teams and industry colleagues to our clients and the people our work impacts. The diverse perspectives of our partners and interested parties drive us to think beyond what's previously been done on critical issues like climate change, digital transformation, and future-proofing our cities and infrastructure. 

We are designers, engineers, scientists, project managers, and strategic advisors. We innovate at the intersection of community, creativity, and client relationships to advance communities everywhere, so that together we can redefine what's possible.

Stantec trades on the TSX and the NYSE under the symbol STN.

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 NickelTM, NetZero CobaltTM, NetZero IronTM 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-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. For more information, please visit www.canadanickel.com.

For further information, please contact
Mark Selby, CEO
Phone: 647-256-1954
Email: info@canadanickel.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, drill and exploration results relating to the target properties described herein (the "Properties"), the significance of drill results, the ability to continue drilling, the impact of drilling on the definition of any resource, the potential of the Crawford Nickel Sulphide Project and the Properties, timing and completion (if at all) of mineral resource estimates, the ability to sell marketable materials, strategic plans, including future exploration and development plans and results, corporate and technical objectives, and the completion of assays, follow-up geophysics and further drilling. 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: 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. 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 press 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/canada-nickel-achieves-major-permitting-milestone-with-completion-of-filing-of-impact-statement-for-crawford-nickel-sulphide-project-302316306.html

SOURCE Canada Nickel Company Inc.

FAQ

When did Canada Nickel (CNIKF) file its Impact Statement for the Crawford Project?

Canada Nickel filed its Impact Statement for the Crawford Nickel Sulphide Project on November 22, 2024.

What is the expected revenue from Canada Nickel's (CNIKF) Crawford Project?

The Crawford Project is expected to generate more than $63 billion in revenue over its 41-year lifecycle.

How many jobs will Canada Nickel's (CNIKF) Crawford Project create?

The Crawford Project is expected to create over 1,000 jobs.

What is the total investment required for Canada Nickel's (CNIKF) Crawford Project?

The total investment required for the Crawford Project is $6.8 billion.