Nickel

Canada Nickel files PEA for Crawford mine in Ontario

Canada Nickel files PEA for Crawford mine in Ontario
Mining News Pro - Canada Nickel Company (TSX-V: CNC) said on Monday it had filed a preliminary economic assessment (PEA) for the Crawford nickel sulphide project in Ontario, almost a year after exploration drilling began at the asset.
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The PEA envisions a conventional open pit mine and mill that will produce both nickel and magnetite concentrates over a mine life of 25 years. The operation is set to generate 2.05 tonnes of carbon dioxide per tonne of nickel-equivalent production in the period — 93% lower than the industry average of 29 tonnes of CO2.

The study includes a downstream processing concept, which sees a third party building a stainless steel plant, likely in Timmins, which would be fed by Crawford’s high-grade product.

“We’re talking district-scale potential that would make this the largest base metal mine in Canada once it’s ramped up,” chairman and chief executive Mark Selby said in a May interview. “We’d be the largest single nickel sulphide mine in the world outside Russia. We’ll be bigger than [Vale’s] Voisey’s Bay. This is a pretty significant project.”

Canada Nickel already has a deal with Glencore (LON: GLEN) to potentially use the miner and commodities trader’s Kidd concentrator and metallurgical site in Timmins.

Crawford will be powered by zero-carbon electricity and use trolley trucks and electric rope shovels as part of the company’s efforts to minimize its carbon footprint through reduced diesel consumption.

Being a zero-emissions nickel producer would potentially put the company on Tesla’s radar. The co-founder and CEO of the electric vehicles maker, Elon Musk, offered last year a “giant contract for a long period of time” to any firm able to extract the battery metal in an efficient, environmentally sustainable manner.

Analysts and industry actors alike expect the market for battery-grade nickel to be in a tight balance in the next two to three years as demand from lithium-ion battery producers picks up.


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