Ontario to prioritize Canada Nickel's flagship project
The Government of Ontario has highlighted the Crawford nickel-sulphide project near Timmins, owned by Canada Nickel Company (TSXV:CNC), as strategic to its 'priority nation building initiatives,' according to Monday's news release
The project houses the second-largest nickel resource and reserve in the world
Canada Nickel is exploring and developing nickel-sulphide projects to supply the electric vehicle and stainless-steel markets
Canada Nickel stock has given back 24.81 per cent year-over-year but remains up by 11.11 per cent since 2020
The Government of Ontario has highlighted the Crawford nickel-sulphide project near Timmins, owned by Canada Nickel Company (TSXV:CNC), as strategic to its 'priority nation building initiatives,' according to Monday's news release.
The announcement was delivered in an open letter on June 5 by Canada's Minister of Energy and Natural Resources, and Ontario's Ministers of Energy and Mines, Natural Resources, and Indigenous Affairs and First Nations Economic Reconciliation.
Crawford houses the second-largest nickel resource and reserve in the world – 6 million tons (Mt) measured and indicated and 3.7Mt inferred – with a final construction decision expected by year-end and initial production slated for sometime in 2027. The project is backed by a 2023 bankable feasibility study detailing a US$2.5 billion net present value and production of 1.6 million tons (Mt) of nickel, 58 Mt of iron and 2.8 Mt of chrome over a 41-year project life. Canada Nickel's proprietary carbon capture technology is expected to make Crawford one of Canada's largest carbon storage facilities.
The project joins four other highlighted critical minerals projects suitable for near-term development, including Generation Mining's Marathon copper-palladium project. Leadership insights
'We are encouraged and deeply appreciative of the Government of Ontario advancing the critical minerals agenda and recognizing the strategic importance of the Crawford project,' Mark Selby, Canada Nickel Company's chief executive officer, said in a statement. 'With aligned federal and provincial support, our experienced management team can continue to advance development of Crawford as an important secure, domestic supply of critical minerals – nickel, cobalt and North America's only domestic source of chromium—while advancing strong Indigenous partnerships and delivering on Canada's clean energy and climate ambitions.' About Canada Nickel Company
Canada Nickel is exploring and developing nickel-sulphide projects to supply the electric vehicle and stainless-steel markets. According to the company's investor presentation for May 2025, it intends to establish eight new nickel resources by mid 2025.
Canada Nickel stock (TSXV:CNC) last traded at C$1. The stock has given back 24.81 per cent year-over-year but remains up by 11.11 per cent since 2020.
Join the discussion: Find out what everybody's saying about this nickel stock on the Canada Nickel Company Inc. Bullboard and check out the rest of Stockhouse's stock forums and message boards.
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