The Anglo American investment will bolster Canada Nickel\u0027s plans to build a rare \u0022zero\u002Dcarbon\u0022 nickel mine within 2 years. Read more.
Play Video
As per the agreement, Anglo American will own about 9.9 per cent of Canada Nickel at $1.95 per share. The British miner will also have an exclusive right to purchase about 10 per cent of the nickel from Canada Nickel’s Crawford project situated within the Timmins mining camp, about 542 km northwest of Ottawa.Article content
However, investors are usually skeptical of financing large nickel projects such as Crawford because of their lower grades, said Selby. In the case of Crawford, early studies suggest a grade of about 0.24 per cent nickel; a grade of two per cent or more is generally considered high grade. Not all batteries have a high nickel content. However, analyst Patricia Mohr said she believes that leading automakers will depend upon nickel extracted from low-carbon mines to build their electric vehicles in the future.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Anglo American to acquire 9.9% of Canada NickelDiversified miner Anglo American has agreed to acquire a 9.9% minority interest in Canada Nickel Company, which owns the Crawford nickel project in Ontario, Canada. Anglo will also provide technology expertise to the Crawford project and has the exclusive right to buy up to 10% of recoveries of nickel concentrate, iron and chromium contained in the magnetite concentrates and any corresponding carbon credits from the Crawford project. Anglo's equity funding will support Canada Nickel's work to complete the necessary permitting requirements to proceed with development of the project.
Read more »
Toronto restaurant forgoes wages to help Turkish earthquake relief effort - Toronto | Globalnews.caA Toronto restaurant owner and his staff are forgoing their pay for a week to help with relief efforts in earthquake-ravaged Turkey.
Read more »
Ontario nickel project could be a key to N.A. EV output, after $24M investmentCanada Nickel Company Inc. said Feb. 8 that the U.K.-based Anglo American will invest approximately $24 million for a 9.9-per-cent share of the Toronto-headquartered mining company.
Read more »
John Tory resigning as Toronto mayor after admitting affair with former staffer“I’m deeply sorry and I apologize unreservedly,” he told reporters. “I’ve decided that I will step down as mayor, so that I can take the time to reflect on my mistakes and to do the work of rebuilding the trust of my family.”
Read more »
Toronto’s heavy rain amplifies need to open 24/7 warming centres, advocates sayWet weather soaked Toronto on the heels of a city council vote to reject immediately opening 24/7 warming centres – a coincidence advocates say amplifies their argument for the opposite outcome.
Read more »