Canada Nickel (TSX-V: CNC) (OTCQX: CNIKF) has taken a key step toward advancing its flagship Crawford nickel sulphide project in northern Ontario, kicking off the process of submitting of a federal impact statement.
The logging of the document, which the company expects to complete within the next six weeks, outlines the project’s potential environmental, social and economic impacts. It also includes mitigation measures to address any potential negative impact, highlighting the company’s commitment to responsible mining practices.
The assessment is a critical requirement for obtaining federal permits, which Canada Nickel is targeting to secure by 2025.
The Crawford project is expected to begin production in 2027, positioning the company as a key player in supplying the minerals needed for a low-carbon economy.
The proposed operation will consist of two open pits complemented by an on-site mill, to be completed in two phases to allow for throughput ramp-up, the feasibility study showed. Total capital cost for the two phases is estimated at $3.5 billion.
Over a 41-year project life, total metal production is calculated at 3.54 billion lb. of nickel, 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.
Peak production at Crawford nickel mine is expected in year 11, when autonomous trucks and remotely operated shovels are fully integrated into the operation.
Peak production at Crawford nickel mine in Canada’s Ontario is expected in year 11, when autonomous trucks and remotely operated shovels are fully integrated into the operation.
Canada Nickel counts with the backing of top players in the mining and batteries markets, including South Korea’s Samsung SDI. The Toronto-based miner has also attracted the interest of Agnico Eagle Mines (TSX, NYSE: AEM), Canada’s largest gold producer, which now owns 12% of Canada Nickel.
Chief executive Mark Selby emphasized the importance of stakeholder collaboration, noting that input from Indigenous Nations, local communities, government agencies, and experts was central to shaping the document.
“We’re grateful for the strong partnerships we’ve built with Indigenous Nations and community stakeholders, whose contributions have been essential in shaping the submission,” Selby said. “Their input helped ensure the project aligns with our shared values of sustainability and regional economic growth.”
As global demand for critical minerals increases, the Crawford project is expected to play an important role in the transition to a low-carbon economy. Nickel, in particular, is a key component in the production of batteries for electric vehicles (EVs), making Canada Nickel project’s progress crucial to meeting rising global demand.
Crawford hosts one of the world’s largest resources of the battery metal, totalling 2.46 billion tonnes at 0.24% nickel for 13.3 billion pounds of contained nickel, according to its feasibility study. This pegged the project’s after-tax net present value (8% discount) at $2.6 billion and internal rate of return at 18.3%.
