Canada Nickel Company';s NetZero Metals Intends to Develop Downstream Nickel & Stainless-Steel Processing Facilities in Timmins Region
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Highlights
- Processing facilities expected to be the largest nickel processing facility in
North America and largest stainless-steel and alloy production facility inCanada , 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.
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
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
"We have what the world needs right in our backyard to fuel the electric vehicle revolution," said George Pirie, MPP for
"When leaders like Canada Nickel invest in great northern cities like
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-
"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
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
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
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
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
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
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
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
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
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.
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SOURCE Canada Nickel Company Inc.
FAQ
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