Canada Nickel to Build New Nickel Processing Plant

SEATTLE (Scrap Monster): Toronto-headquartered Canada Nickel Co. announced plans to construct a new nickel processing facility in the Timmins Nickel District through its subsidiary, NetZero Metals. The company is reportedly in efforts to raise funds of up to $1 billion to support the construction of the facility.

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The facility, projected as the largest such facility in North America, will help the company to position itself as a primary supplier of nickel in the region.  It will have a processing capacity of more than 80,000 tonnes of nickel per year and is expected to start production by 2027. It will mainly cater to the nickel metal requirements of the electric vehicles market in the North American region. It must be noted that nickel production is currently concentrated in countries in the Asian region.

Mark Selby, CEO, Canada Nickel Co. noted that the company is already in talks with the Canadian federal government, the U.S. Department of Defense and leading partners in the battery manufacturing sector to raise the funding.

In addition, NetZero Metals has announced plans to build a stainless steel and alloy production facility, which will process nickel-chromium magnetite concentrate from various sources, including the Crawford Nickel project.