Canada Nickel Plans to Raise US$ 1 Billion for Nickel-Processing Plant

COPPER - TORONTO - Canada Nickel Co (CNC.V), opened a new tab on Thursday and said it is looking to raise $1 billion to build a nickel-processing plant, as it seeks to position itself as an alternative supplier of the metal used in car and electric battery vehicles.

The processing plant in Ontario is expected to begin production in 2027 and process 80,000 tonnes of nickel annually. 

Nickel production is currently concentrated in Asia, and the company hopes that the new plant will help increase supplies from cleaner sources.