[Ferro-Alloys.com] 

Samsung SDI invests in Canada Nickel, has right to buy 10% of Crawford projectSamsung SDI invests in Canada Nickel, has right to buy 10% of Crawford project

South Korean battery manufacturer Samsung SDI has become the latest company to invest in Canada Nickel Company (TSXV: CNC), which is developing the Crawford nickel sulphide project in the Timmins-Cochrane mining camp of Ontario.

The battery maker will also be granted the right to purchase a 10% equity interest in the Crawford project for $100.5 million, exercisable upon a final construction decision. This would give Samsung the right to 10% of the nickel-cobalt production from the Crawford project over the life of mine, and the right to an additional 20% of production for 15 years, extendable by mutual agreement.

Crawford is currently host to the world’s second-largest nickel resource, totalling 2.46 billion tonnes at 0.24% nickel. 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. First production is targeted for 2027.

• [Editor:邢亚敏]