Canada Nickel Company (TSXV: CNC) has received Canadian government backing for C$4.38 million in funding to support the development of the company’s Crawford nickel sulphide project in Ontario.
The funding would cover nearly half of the C$9.6 million estimated to complete Canada Nickel’s ongoing studies focusing on electrical infrastructure at the project. The studies, says the company, represent “a crucial step” for the development of clean energy infrastructure that drives innovation in Canada’s mining sector. Completion of the studies is scheduled for June 2025.
With successful implementation of the electrical infrastructure and by utilizing Ontario’s clean electricity grid, the studies are expected to significantly reduce greenhouse gas emissions by more than 60% compared to diesel-powered operations during mine production.
With first production targeted for 2027, the Crawford mine is expected to have a 41-year life, producing a total of 3.54 billion lb. of nickel, plus 52.9 million lb. of cobalt, 490,000 oz. of palladium and platinum, 58 million tonnes of iron, and 6.2 million lb. of chromium.
The Crawford project also includes a permanent carbon storage component, making it a potential net-zero contributor of carbon dioxide over its lifetime, supporting Canada’s 2050 net-zero emissions target and environmental commitments.
“By supporting these studies, the federal government is investing the timely development of sustainable infrastructure to ensure a stable source of critical minerals, foster economic growth, create over 1500 high-paying jobs, and advance its commitment to net-zero carbon targets when Crawford is in production,” Mark Selby, CEO of Canada Nickel, commented.
Earlier this month, the company took a key step toward advancing the Crawford project with the submission of critical documentation with the Canadian government outlining its potential environmental, social and economic impacts. A positive assessment is required in the federal permitting process, which the company anticipates to complete next year.
The federal funding for the electrical infrastructure studies will come from Natural Resources Canada’s Critical Minerals Infrastructure Fund (CMIF). It follows an announcement this week by NRCan of an investment of C$13.8 million in Northern Ontario’s road infrastructure to support several other mining projects.
Source: MINING.COM – Read More
