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Samsung Is Getting Strategic About Securing Nickel Supply

January 14, 2024
x min read

One of the world’s largest suppliers of lithium-ion batteries just made a big bet on a publicly traded nickel company in Canada. But, why?

What’s happening:

  • Toronto based Canada Nickel Company (TSXV: CNC) has raised $18.5M USD in a new strategic round from Samsung SDI

By the numbers:

  • This strategic investment from Samsung SDI comes after Canada Nickel just raised $34.7M CAD in a previous financing round
  • Of the $34.7M CAD recently raised, Agnico Eagle (NYSE: AEM) led the round with $23.1M CAD to push their ownership of Canada Nickel to approximately 12%
  • Aside from Samsung SDI’s strategic investment, they also have entered into an agreement with Canada Nickel to be able to purchase 10% of their flagship Crawford project for $100.5M USD upon a final construction decision

Why it matters:

  • Samsung SDI is one of the world’s leading suppliers for lithium-ion batteries, so this investment is a notable sign of validation for the critical need to secure nickel supply in order to produce electric vehicle batteries at scale

The intrigue:

  • Canada Nickel is aiming to be a leader in net zero emission nickel production by becoming one of Canada’s largest carbon storage facilities

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