FQVLF - Canada Nickel Plans A $1 Billion Processing Plant in Ontario | Benzinga
Canada Nickel (OTCQX:CNIKF) is raising $1 billion to build a processing plant in Timmins, Ontario.
The company is also planning a stainless-steel and alloy production facility.
Per Reuters, the processing plant — slated to commence production in 2027 — aims to process 80,000 tons of nickel annually. This would make it North America’s largest facility of its kind.
With nickel production predominantly concentrated in Asia, Canada Nickel envisions filling a crucial gap in the supply chain by providing cleaner and responsibly produced nickel from North America.
“The car companies and battery supply chain know that the amount of nickel needed in North America is going to double and triple over the next decade," CEO Mark Selby said in a ...