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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.
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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.
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