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Canada Nickel Lands Strategic Investor For Net Zero Metal Mining

January 3, 2024
x min read

Can nickel mining ever be environmentally friendly? There’s a Canadian public company who believes it can.

What’s happening:

  • Toronto based Canada Nickel Company (TSXV: CNC) has raised $34.7M CAD in a new financing round
  • The round was led by Canada Nickel’s existing strategic investor Agnico Eagle Mines (NYSE: AEM)

By the numbers:

  • Agnico Eagle invested $23.1M CAD into the recent round and now owns approximately 12% of Canada Nickel
  • Canada Nickel owns 100% of their flagship nickel and cobalt sulphide property in the highly renowned Timmins-Cochrane mining district in Ontario

The big idea:

  • Canada Nickel is aiming to be one of the first companies to sustainably mine nickel in a way which actually removes carbon in the process
  • Through a unique mineral processing process, Canada Nickel separates valuable minerals away from waste minerals and has the tailings conditioned with a concentrated steam of carbon dioxide
  • When the carbon dioxide is injected, it is also permanently captured
  • Through this process, Canada Nickel believes they can become one of Canada’s largest carbon storage facilities

Why it matters:

  • Nickel is a highly important input for electric vehicles, however most producing nickel mines have a negative environmental impact and emit enormous amounts of greenhouse gases into the atmosphere

The intrigue:

  • Canada Nickel has applied to trademark the names 'NetZero Nickel', 'NetZero Cobalt' and 'NetZero Iron' across several jurisdictions globally

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