Canada Nickel Announces $4.38 million Contribution from the Government of Canada
Canada Nickel Company Inc. (TSXV: CNC) (OTCQX: CNIKF) has been conditionally approved for a C$4.38 million contribution from Natural Resources Canada's Critical Minerals Infrastructure Fund (CMIF). The funding supports pre-construction and project development activities for the Crawford Nickel Sulphide Project, focusing on electrical infrastructure. These studies, scheduled for completion by June 2025, are important for developing clean energy infrastructure in the mining sector.
The project aims to reduce greenhouse gas emissions by over 60% compared to diesel-powered operations by utilizing Ontario's clean electricity grid. It also includes a permanent carbon storage component, potentially making it a net-zero contributor of CO2 over its lifetime. Once operational, the mine is expected to create about 1,500 jobs and drive economic growth in the Timmins region.
Canada Nickel Company Inc. (TSXV: CNC) (OTCQX: CNIKF) ha ottenuto l'approvazione condizionata per un contributo di 4,38 milioni di dollari canadesi dal Critical Minerals Infrastructure Fund (CMIF) del Ministero delle Risorse Naturali del Canada. Il finanziamento sostiene attività di pre-costruzione e sviluppo del progetto per il Crawford Nickel Sulphide Project, con un focus sulle infrastrutture elettriche. Questi studi, previsti per il completamento entro giugno 2025, sono importanti per lo sviluppo di infrastrutture energetiche pulite nel settore minerario.
Il progetto mira a ridurre le emissioni di gas serra di oltre il 60% rispetto alle operazioni alimentate a diesel, utilizzando la rete elettrica pulita dell'Ontario. Include anche un componente di stoccaggio permanente del carbonio, potenzialmente rendendolo un contributore netto di CO2 zero nel corso della sua vita. Una volta operativo, si prevede che la miniera creerà circa 1.500 posti di lavoro e stimolerà la crescita economica nella regione di Timmins.
Canada Nickel Company Inc. (TSXV: CNC) (OTCQX: CNIKF) ha recibido la aprobación condicional para una contribución de 4.38 millones de dólares canadienses del Critical Minerals Infrastructure Fund (CMIF) de Recursos Naturales de Canadá. La financiación apoya actividades de pre-construcción y desarrollo del proyecto para el Crawford Nickel Sulphide Project, centrado en la infraestructura eléctrica. Estos estudios, programados para ser completados para junio de 2025, son importantes para el desarrollo de infraestructura de energía limpia en el sector minero.
El proyecto tiene como objetivo reducir las emisiones de gases de efecto invernadero en más del 60% en comparación con las operaciones alimentadas por diésel, utilizando la red eléctrica limpia de Ontario. También incluye un componente de almacenamiento permanente de carbono, lo que podría hacerlo un contribuyente neto de CO2 cero a lo largo de su vida útil. Una vez en funcionamiento, se espera que la mina cree alrededor de 1.500 empleos y fomente el crecimiento económico en la región de Timmins.
캐나다 니켈 컴퍼니 Inc. (TSXV: CNC) (OTCQX: CNIKF)는 436만 캐나다 달러 기여금에 대해 조건부 승인을 받았습니다 캐나다 자연 자원부의 중요한 광물 인프라 기금(CMIF)으로부터. 이 자금은 사전 건설 및 프로젝트 개발 활동을 지원하며, Crawford Nickel Sulphide Project의 전기 인프라에 중점을 두고 있습니다. 이 연구는 2025년 6월까지 완료될 예정이며, 광산 분야의 청정 에너지 인프라 개발에 중요합니다.
이 프로젝트는 디젤 동력 운영에 비해 온타리오의 청정 전기망을 활용하여 온실가스 배출을 60% 이상 줄이는 것을 목표로 합니다. 또한 영구적인 탄소 저장 구성 요소를 포함하여, 운영 기간 동안 CO2 순 제로 기여자가 될 가능성이 있습니다. 운영이 시작되면 이 광산은 약 1,500개의 일자리 창출과 Timmins 지역의 경제 성장을 촉진할 것으로 예상됩니다.
Canada Nickel Company Inc. (TSXV: CNC) (OTCQX: CNIKF) a obtenu l'approbation conditionnelle d'une contribution de 4,38 millions de dollars canadiens du Critical Minerals Infrastructure Fund (CMIF) de Ressources naturelles Canada. Le financement soutient les activités de pré-construction et de développement du projet pour le projet de sulfure de nickel Crawford, axé sur l'infrastructure électrique. Ces études, prévues pour achèvement d'ici juin 2025, sont importantes pour le développement d'infrastructures énergétiques propres dans le secteur minier.
Le projet vise à réduire les émissions de gaz à effet de serre de plus de 60% par rapport aux opérations alimentées au diesel en utilisant le réseau électrique propre de l'Ontario. Il comprend également un composant de stockage permanent du carbone, ce qui pourrait en faire un contributeur net zéro de CO2 au cours de sa durée de vie. Une fois opérationnelle, la mine devrait créer environ 1 500 emplois et stimuler la croissance économique dans la région de Timmins.
Die Canada Nickel Company Inc. (TSXV: CNC) (OTCQX: CNIKF) hat eine bedingte Genehmigung für einen Beitrag von 4,38 Millionen kanadischen Dollar erhalten vom Critical Minerals Infrastructure Fund (CMIF) von Natural Resources Canada. Die Finanzierung unterstützt Vorbau- und Projektentwicklungsaktivitäten für das Crawford Nickel Sulphide Project mit Fokus auf elektrische Infrastruktur. Diese Studien, die bis Juni 2025 abgeschlossen sein sollen, sind wichtig für die Entwicklung von Infrastruktur für saubere Energie im Bergbau.
Das Projekt zielt darauf ab, die Treibhausgasemissionen um über 60% im Vergleich zu dieselbetriebenen Anlagen durch die Nutzung des sauberen Stromnetzes von Ontario zu reduzieren. Es enthält auch eine permanente Kohlenstoffspeicherkomponente, die es potenziell zu einem netto-null CO2-Beiträger über seine Lebensdauer macht. Nach dem Betrieb wird erwartet, dass die Mine etwa 1.500 Arbeitsplätze schafft und das Wirtschaftswachstum in der Region Timmins vorantreibt.
- Secured C$4.38 million in government funding for pre-construction studies
- Project aims to reduce greenhouse gas emissions by over 60% compared to diesel-powered operations
- Potential to be a net-zero contributor of CO2 over its lifetime
- Expected to create about 1,500 jobs when operational
- Studies not expected to be complete until June 2025
- Company must contribute C$5.2 million of the total C$9.6 million study cost
- Funding is subject to due diligence and other conditions
Highlights
- Conditionally approved contribution to support pre-implementation studies for electrical infrastructure.
- Provided to Canada Nickel under Stream 1 of the Critical Minerals Infrastructure Fund (CMIF).
- Pre-implementation studies began in April 2024 and are expected to be complete by June 2025.
The contribution is in support of the Company's ongoing studies ("Studies") to undertake pre-construction and project development activities at the Company's flagship Crawford Nickel Sulphide Project ("the Project"), primarily focusing on electrical infrastructure. The Studies are a crucial step for Canada Nickel and the Government of
"Canada Nickel is grateful for the Government of
With successful implementation of the electrical infrastructure and by utilizing
"With funding from the Government of
Program Timing & Funding
The Studies are scheduled for completion by June 2025. The Government of
For more information about Canada Nickel's initiatives and this project, 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
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
About the Critical Minerals Infrastructure Fund
The Critical Minerals Infrastructure Fund (CMIF) will provide up to
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 (and the timing thereof), the ability of the Company to deliver nickel required to feed the high growth electric vehicle and stainless-steel markets, the efficacy of the Canada Nickel's IPT Carbonation process, 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.
FAQ
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