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Successful HPA Demonstration Plant Campaign
Queensland Pacific Metals Limited (ASX:QPM) ) (“QPM” or “the Company”) is pleased to present an update on the completion of the successful operation of the HPA Demonstration Plant in conjunction with partners Lava Blue.
Highlights
- 62 kg >99.99% High Purity Alumina (“4N HPA”) produced from Lava Blue Demonstration Plant.
- Average purity across blends approaching 5N (99.999%), far exceeding the 4N threshold.
- 6 x ~10 kg 4N HPA blends have been transported to the United States to provide to potential offtakers.
- Initial target offtakers are from the LED market
Demonstration Plant
QPM and Lava Blue have recently completed the first campaign of HPA Demonstration Plant operation, which successfully produced 62 kg of 4N HPA. The two primary objectives of this technical work have been well and truly met, being:
- Confirmation of HPA flowsheet for the TECH Project; and
- Production of samples for offtake marketing purposes.
HPA produced from the Demonstration Plant has been split into six ~10 kg blends and have been transported to the USA. The blends have been assayed and results have far exceeded 4N purity.
Figure: Blend assay results
QPM’s technical and marketing team have been working closely with a specialised US consultant in identifying potential offtakers. The initial focus has been on the LED market (sapphire glass). The blends will be provided to potential offtakers for testing.
Click here for the full ASX Release
This article includes content from Queensland Pacific Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Element 25 Signs US$85M Supply Deal with GM for Manganese Sulphate
Element 25 (ASX:E25) has signed a deal with General Motors (NYSE:GM) to supply the car manufacturer 32,500 tonnes of manganese sulphate annually, according to a news report by Reuters.
The news follows GM’s announcement to take an equity stake in Queensland Pacific Metals (ASX:QPM) for a new source of nickel and cobalt for battery cells, in a move to secure the car maker’s supply of battery minerals for its North American electric vehicle production, the report said. This is also Element 25’s second major supply agreement after a deal with global mobility provider Stellantis was sealed earlier this year.
The GM deal will provide Element 25 with US$85 million to fund its Louisiana battery-grade high-purity manganese sulfate (HPMSM) facility, which is scheduled to open in 2025.
To read the full article, click here.
Click here to connect with Element 25 (ASX:E25) for an Investor Presentation.
Jaguar Nickel Sulphide Project – Feasibility Study
Positive Feasibility Study Demonstrates Strong Economics And Clear Pathway To Develop A Sustainable, Long-Life And Low-Cost Nickel Sulphide Project In Northern Brazil
Centaurus Metals (ASX Code: CTM) is pleased to announce the completion of a positive Feasibility Study (FS) for the development of its 100%-owned Jaguar Nickel Sulphide Project in the Carajás Mineral Province of northern Brazil, which highlights strong economics from an initial concentrate-only project delivering a long-life production profile at first quartile operating costs.
Forecast production averaging 18,700tpa of nickel over an initial 18-year open pit mine life for Post Tax operating cash flow of US$2.11 billion
Maiden Jaguar JORC Ore Reserve of 63Mt @ 0.73% Ni for 459,200 tonnes of contained nickel
First quartile life-of-mine C1 cash cost and AISC of US$2.30/lb and US$3.57/lb Ni respectively
Low capital intensity with pre-production capex of US$371 million (incl. pre-strip and contingency)
Post Tax NPV8 of A$997 million and IRR of 31% pa
The Jaguar Project represents a cornerstone asset for Centaurus that will underpin the Company’s ambition to build a diversified Brazilian critical minerals business with best-in-class ESG credentials.
The outcomes of the Jaguar Feasibility Study demonstrate the potential for Jaguar to become a sustainable, long-term and low-cost producer of low-emission nickel for global markets, generating strong financial returns while also delivering significant social and economic benefits for the local communities where the Project is located. Jaguar is currently one of the largest undeveloped nickel sulphide projects globally and a highly strategic potential source of unencumbered nickel concentrate product, particularly for the EV battery supply chain.
The Feasibility Study only considers open pit nickel sulphide ore over an initial 18-year mine life, delivering nickel sulphide feed to a 3.5Mtpa conventional nickel flotation plant to produce approximately 18,700 tonnes of recovered nickel metal per year at a low life-of-mine (LOM) C1 operating cost of US$2.30/lb and AISC of US$3.57/lb, on a contained nickel basis.
KEY FEASIBILITY STUDY OUTCOMES & PROJECT HIGHLIGHTS
Production Base, Nickel Price & FID Timing
- Production of a high-quality nickel concentrate via a conventional 3.5Mtpa nickel flotation circuit.
- Forecast nickel production averaging 18,700 tonnes per annum (tpa) of contained nickel metal over the current initial 18-year open pit evaluation period.
- Life-of-Mine (LOM) nickel price assumption of US$19,800/tonne (US$8.98/lb) and 76% nickel payability.
- FID targeted for Q2 2025 based on the current environmental approvals and development timeline.
- JORC Mineral Resource Estimate (MRE) of 109.2Mt @ 0.87% Ni for 948,900 tonnes of contained nickel.
- Maiden JORC Proved and Probable open pit Ore Reserves of 63.0Mt @ 0.73% Ni for 459,200t of contained nickel.
- First production targeted for H2 2027 with LOM recovered nickel of 335,300 tonnes.
- Ideally positioned to meet forecast growth in demand for Class-1 nickel from the EV battery market.
Click here for the full ASX Release
This article includes content from Centaurus Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Deeper Drilling Discovers Substantially Thicker Mineralisation at Horden Lake; Corresponding DHEM Results Indicate Exciting Depth Continuity
Pivotal Metals Limited (ASX:PVT) (‘Pivotal’ or the ‘Company’) is pleased to provide the assay results of three further drill holes and, for the first time, the associated downhole electromagnetic survey (DHEM) results, from its 2024 diamond drill program completed at its 100% owned Horden Lake Project in Quebec, Canada.
Highlights
- Step-out drilling and DHEM results discover material resource growth potential at the Horden Lake deposit
- Step-out drilling delivers 32.1m @ 1.2% CuEq1, representing a substantially wider copper zone down plunge in HN-24-98
- 32.1m @ 1.2% CuEq (0.57% Cu, 0.19% Ni, 0.08g/t Au, 0.13g/t Pd) plus additional 0.04g/t Pt, 192ppm Co, 8.2g/t Ag from 264.3m. Includes 14.2m @ 1.79% CuEq from 275.9m.
- Deepest hole in this zone, 70-90m diagonally down-plunge from the two nearest historic holes.
- Strong down-hole electromagnetic (DHEM) plates project extensions of mineralisation at depth
- HN-24-98 plate indicates the highly conductive mineralised zone extends equally each way along strike, up-dip 170m, and is more responsive below the hole, extending 225m down-plunge.
- HN-24-96 stacked plates indicate the hole hit the edge of a strongly mineralised zone which sits deeper and to the north of the previously reported 17.1m @ 0.58% CuEq and 11.9m @ 1.39% CuEq.
- These first two plates link over 300m of strike extent which remains open down-plunge. Additional DHEM survey results pending.
- Shallow infill drilling delivers 33.8m @ 0.81% CuEq from 38m in HN-24-100
- Results again highlight the significant Au, Ag, PGM and Co by-products never previously assayed.
- Demonstrates continuity of the wide zone of shallow open-pittable copper mineralisation.
- Significant depth extension via drilling and DHEM in the southern zone
- The lesser-drilled southern zone now demonstrates potential to match or possibly exceed the central zone where economic resources extend to 550m (still open), 50-60% deeper than currently defined in the south.
- Only ~30% of the strike length has been drilled below 220m, yet this deeper area already hosts ~30% of the current JORC resource.
- Assays from 25 holes remain pending, including multiple step-out and DHEM results across zones of open mineralisation.
“These results show clearly the tremendous potential for Horden Lake to deliver substantial exploration upside, with hole 98 showing the copper zone expanding at depth with one of the best intersections on the project.
Most excitingly, we couple this with very strong DHEM conductors indicating this mineralisation has continuity along strike and clearly extends at depth.
It is important to highlight that drilling has defined high grade mineralisation to over 550m in the central zone (and still open), and we now see no reason why the southern zone cannot achieve a similar, or possibly better, result. We have a significant amount of news-flow in the pipeline and we shall release further assays as they become available, along with downhole EM results where surveyed.”
Overview
Horden Lake is a copper dominant Cu-Ni-Au-PGM-Co Project located 131km north-northwest of Matagami, in Quebec Canada. The Project hosts an indicated and inferred mineral resource estimate of 28mt at 1.5% CuEq, as a result of over 52,464m of drilling already completed on the property. Pivotal has recently completed a 7,097m / 34 hole diamond drilling campaign. 1,317m / 6 holes have been reported prior to this announcement.
The objectives of the drilling program were to infill missing by-product multi-element assay information, target resource expansion potential (which remains open at depth across its full extent) and collect a distribution of metallurgical sample for a complete test work program. Downhole EM surveys have also been completed to dimension future exploration potential and targeting.
The results of drilling in HN-24-98 together with HN-24-93 and HN-24-94, and DHEM across HN24-98 and HN-24- 96 provide strong evidence of substantial resource growth potential at depth. This southern portion of the deposit has only a couple of holes below ~200m vertical depth. In the central portion, drilling has defined continuous zone of resources to approximately 550m.
Figure 1: Drill plan map with significant 2024 results, Horden Lake Cu-Ni-Au-PGM Project
Drill Hole and DHEM Discussion
Reported results are focused in the southern portion of the Horden Lake deposit. Hole HN-24-98 was designed to test step out potential, whilst holes HN-24-99 and HN-24-100 were shallower holes designed to infill continuity and collect by-product assay information not taken previously. DHEM survey results for HN-24-98 are also reported here, along with the survey results of HN-24-96 (assays reported on 10 June 2024).
Click here for the full ASX Release
This article includes content from Pivotal Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Surge in EV Market Drives Demand for High-density Battery Materials
The electric vehicle (EV) sector is growing, spurring the market for battery materials.
As lithium-ion batteries reach their capacity limit, demand is expanding for other raw materials to manufacture high-density batteries, particularly nickel. This metal boasts a wide range of physical properties that make it ideal for the green energy market — plus it’s an affordable component looked to for next-generation as well as existing products.
Demand for nickel for use in EVs is expected to increase tenfold from 2019 to 2030. Since nickel is also used to generate geothermal energy, hydrogen, hydro, wind and solar power, it’s emerging as a key component in green energy.
EVs driving upwards
As product offerings expand and charging infrastructure improves, consumers’ hesitation is waning and people are buying EVs in ever-increasing numbers. The first half of 2023 saw a 49 percent increase in global sales, reaching 6.2 million units. By 2030, global sales are expected to hit 40 million units.
Many jurisdictions support the move to EVs. In the U.S., for instance, a slate of federal legislation enables the growth of the industry, including tax credits. All new cars and vans sold in the EU must be zero emission as of 2035.
However, the current generation of lithium-ion batteries used for EVs — as well as mobile phones, laptops and just about every other commercial battery-driven product — have their limits. Research efforts across sectors are developing lighter, longer lasting and more efficient batteries.
Next-generation high-density batteries will require a larger array of raw materials, resulting in increased demand.
Why high density?
While lithium-ion batteries have proven themselves a workhorse for consumer products, batteries with a higher energy density can store more energy by weight. Researchers in academia and industry are trying to increase the energy density of lithium-ion batteries, and find alternative materials to make batteries that can contain more energy in smaller and lighter forms.
Currently, EVs weigh about 30 percent more than gas-powered cars — the battery itself weighs an average of 1,000 pounds — increasing the wear-and-tear on roads, bridges and parking garages, and making them more dangerous in collisions.
In the consumer device market, the size and weight of batteries limits the functionality of laptops and smartphones.
Industrial use of batteries, including the potential for battery-powered aircraft, will expand as the weight of batteries decreases.
Nickel’s potential
Once primarily used to make alloys, nickel is now a standard material in the sustainable energy sector.
The global nickel market was $14.61 billion in 2023 and is expected to grow to $44.59 billion in 2024.
As a battery material, nickel can deliver high energy density and storage capacity at a low cost. In fact, it has roughly twice the energy density of other materials, supporting higher voltages and storage capacities, but also offering stability. It’s already an ingredient in most lithium-ion batteries used in EVs.
Because of its use in the sustainable energy sector, nickel’s price has seen increased demand and prices since 2017 — but price fluctuations are common. The average monthly price per tonne was US$18,465 in 2021 and US$25,834 in 2022.
It hit a nine month high of $21,615 per tonne in May 2024 and now sells for under $18,000 per tonne.
Nickel’s limitations
Nickel is mined in over 25 countries. In 2022, world reserves were estimated to be more than 102 million tonnes, with large known reserves in Indonesia, Australia and Brazil.
While there are ample worldwide reserves and nickel remains an affordable raw material, mining can involve challenges.
A handful of nations control the most plentiful nickel reserves, and that has spurred geopolitical wrangling. As the U.S. and China have endeavoured to secure supply lines for EV materials for themselves while warding off others, they have inked partnership around mining and processing with resource-rich nations.
That includes Indonesia, the largest producer of nickel in the world, which has threatened to ban the export of raw or refined nickel, requiring any finished product manufacturing to happen locally. Meanwhile, the country has fewer environmental rules, which can clash with regulations from importing nations and shareholders.
Other top producers include the Philippines, which has been partnering with the US, allegedly to prevent China from gaining access to its reserves. New Caledonia, a French island territory, is dealing with considerable civil unrest that has disrupted mining operations. Russia is also a major holder of nickel reserves.
Meanwhile, mining nickel ecan bnvironmentally intensive, with concerns around water pollution while smelting emits high amounts of greenhouse gases. Technological advances are helping lead to, for instance, cleaner extracting processes.
Promising reserves
Some nickel projects in development offer appealing investment opportunities in stable, democratic jurisdictions with strong environment controls.
Australia is a major player in the sector with 36 mines in operation and a number of promising new sites in development. That includes Australian Mines’ (ASX:AUZ,OTC Pink:AMSLF) Sconi cobalt-nickel scandium project, expected to be in commission in 2028, with 33.89 megatonnes of reserves. Nico Resources (ASX:NCI,OTC Pink:NICOF) is developing the Wingellina nickel-cobalt project, which has reserves of 2 megatonnes of nickel.
Canada is the sixth largest producer of nickel in the world with existing mines largely run by two major players, Vale (NYSE:VALE) and Glencore (LSE:GLEN,OTC:GLNCF). However, more of its in-development mines are run by a larger array of companies with appeal to investors.
The Baptiste nickel project in British Columbia, run by FPX Nickel (TSXV:FPX,OTCQB:FPOCF) purports to be a low-carbon mine with a plan to mine 59,100 tonnes of nickel a year over 29 years.
Ramp Metals (TSXV:RAMP) has three properties covering 40,000 hectares in Saskatchewan that are in exploration mode. Most notably, Rottenstone SW has an eye structure believed to be a major feeder chamber for the regional system that previously supported the Rottenstone Mine. The project’s geology bears striking similarities with the Nova-Bollinger nickel-copper mine in Australia previously owned by Sirius Resources and was eventually sold for AU$1.8 billion. Partial results from the company’s winter geo sampling intercepted multiple zones of gold mineralization, with more results pending.
Investor takeaway
While the price of nickel can fluctuate, the value should continue to climb over time. It’s a reliable ingredient in a wide array of green energy projects, and is a material still looked to for next-generation batteries and other products.
Projects in stable jurisdictions that have continued access to resources, plus follow environmental ethics that appeal to investors, should offer an appealing way to get involved in the sector.
By Diane Peters
Diane Peters is a freelance writer based in Ontario.
This INNSpired article is sponsored by Ramp Metals (TSXV:RAMP). This INNSpired article provides information which was sourced by the Investing News Network (INN) and approved by Ramp Metalsin order to help investors learn more about the company. Ramp Metals is a client of INN. The company’s campaign fees pay for INN to create and update this INNSpired article.
This INNSpired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Ramp Metalsand seek advice from a qualified investment advisor.
Blackstone Receives A$1 Million R&D Refund Advance
Blackstone Minerals Limited (ASX: BSX) (“Blackstone” or the “Company”) is pleased to announce that it has received A$1 million as an advance from research & development (“R&D”) lending fund backed by Asymmetric Innovation Finance (“Asymmetric”) and Fiftyone Capital ("Fiftyone"), on Blackstone’s future 2024 refundable tax offset for R&D expenditure.
The advanced payment of A$1m received reflects the ongoing investment by Blackstone to develop the Ta Khoa Refinery process and Blackstone’s unique strategy to convert nickel concentrate blends into battery products in the form of precursor cathode active material (“pCAM”). The majority of Blackstone’s investment was directed to process development and piloting programs in Australia. The $1 million will be repaid following lodgement of the R&D claim under the R&D Tax Incentive Program.
The Company’s current cash position is ~$4.1 million following receipt of the advance, with further details of the end of June 2024 cash position to be included in the Quarterly Appendix 5B due prior to the end of July 2024.
Blackstone’s Managing Director Scott Williamson commented “the additional funding allows Blackstone to complete the Ta Khoa Refinery definitive feasibility study over the coming months and continue to progress the joint venture partnership process for the Ta Khoa Project in Vietnam”.
Click here for the full ASX Release
This article includes content from Blackstone Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
First Two Step-out Holes Extend High Grades at Horden Lake
Pivotal Metals Limited (ASX:PVT) (‘Pivotal’ or the ‘Company’) is pleased to provide the assay results of two further drill holes from its 2024 diamond drill program completed at its 100% owned Horden Lake Project in Quebec, Canada.
Highlights
- High grade copper mineralisation extended down-plunge in hole HN-24-97, the first step-out hole reported from the 2024 drill program.
- 21.5m @ 0.98% CuEq1 (0.56% Cu, 0.12% Ni, 0.07g/t Au, 0.09g/t Pd) plus additional 0.03g/t Pt, 119ppm Co, 8.3g/t Ag from 266.1m
Including 7.2m @ 1.56% CuEq from 280.4m - Deepest hole in this zone, 80-110m diagonally down-plunge from the two nearest historic holes
- 21.5m @ 0.98% CuEq1 (0.56% Cu, 0.12% Ni, 0.07g/t Au, 0.09g/t Pd) plus additional 0.03g/t Pt, 119ppm Co, 8.3g/t Ag from 266.1m
- HN-24-96 extends downwards and infills high grade mineralisation in 130m gap between previously drilled holes.
- 17.1m @ 0.58% CuEq (0.25% Cu, 0.1% Ni, 0.03g/t Au, 0.06g/t Pd) plus additional 0.03g/t Pt, 95ppm Co, 3.9g/t Ag from 203m
Including 5.1m @ 0.95% CuEq from 206.6m - 11.9m @ 1.39% CuEq (0.42% Cu, 0.33% Ni, 0.03g/t Au, 0.13g/t Pd) plus additional 0.04g/t Pt, 230ppm Co, 4.8g/t Ag from 229.7m.
Including 7.8m @ 2.1% CuEq from 229.7m
- 17.1m @ 0.58% CuEq (0.25% Cu, 0.1% Ni, 0.03g/t Au, 0.06g/t Pd) plus additional 0.03g/t Pt, 95ppm Co, 3.9g/t Ag from 203m
- Mineralisation now defined to 200-230m vertical depth in the vicinity of these holes. This is less than half the ~550m depth that mineralisation has been defined to in the central part of Horden Lake.
- Significant gold, silver, palladium, platinum and cobalt metals delineated once again, which were not assayed in this part of the deposit during previous drill campaigns.
- Consistent news-flow ahead, including results from the remaining 5,780m / 28 diamond drill holes and downhole EM surveys to be released, followed by a mineral resource update and metallurgical test-work in H2.
Managing Director, Mr Fairhall said:
“Down plunge extensions are a key pillar of the significant upside story at Horden Lake. The southern flank of the deposit has only been drilled to around 200m, whereas mineralisation is defined to ~550m in the central portion. These high grade results in the south demonstrate the strong potential for resource growth at depth, with the deposit remaining completely open across its full strike extent. In addition, we anticipate increasing the metal content of the resource through inclusion of the significant palladium, gold, cobalt, platinum and silver assays we are seeing which were never before assayed for in this portion of the deposit.
We have a significant amount of news-flow in the pipeline as we release further assays and the results of downhole surveys as they become available.”
Overview
Horden Lake is a copper dominant Cu-Ni-Au-PGM-Co Project located 131km north-northwest of Matagami, in Quebec Canada. The Project hosts an indicated and inferred mineral resource estimate of 28mt at 1.5% CuEq, as a result of over 52,464m of drilling already completed on the property. Pivotal has recently completed a 7,097m / 34 hole diamond drilling campaign. 705m / 4 holes have been reported prior to this announcement.
The objectives of the drilling program were to infill missing by-product multi-element assay information, target resource expansion potential (which remains open at depth across its full extent) and collect a distribution of metallurgical sample for a complete test work program. Downhole EM surveys have also been completed to dimension future exploration potential and targeting.
Figure 1: Drill plan map of the Horden Lake Cu-Ni-Au-PGM Project
Drill Hole Discussion
Holes HN-24-96 and HN-24-97 were designed to test step out and infill the deeper extensions in the southern portion of the Horden Lake deposit. Table 1 contains the significant intersections, and Figure 2 is a longitudinal section showing the spatial distribution of historical and new drill hole pierce points.
Table 1: Significant intersections. Lower cut 0.3% CuEq over 1.5m (max dilution 5m). Higher cut 1.1% CuEq over 1.5m (5m max dilution).
Figure 2: Longitudinal section looking southeast through the Horden Lake deposit
Hole HN-24-97 is located 140m down-plunge from the 2024 hole HN-24-95 (refer ASX announcement 16 May 2024), and 80m and 110m respectively diagonally down-plunge from holes previously drilled holes H25315 and H26812. Mineralisation falls within one wide intersection of 21.45m grading 0.98% CuEq (0.56% Cu, 0.12% Ni) from 266.1m (Figure 3). Higher grade intersections include 7.17m grading 1.56% CuEq (1.10% Cu, 0.13% Ni) from 280.38m, which includes 4.53m grading 2.05% CuEq (1.48% Cu, 0.18% Ni) from 282.15m. Mineralisation between 266.1 to 282.85 occurs within meta-pyroxenites, meta-gabbros, and mafic dykes and one semi massive sulphide zone. The highest grade zone, 282.85 to 287.55 m occurs within the metasediments with one massive sulphide mineralisation and included a single assay of 4.08% copper over 0.66m at 282.85m. Whilst an inferred zone of mineralisation above 0.3% CuEq was interpreted in this zone, no higher grade zone extended to this area and this intersection shows very encouraging extensions of high grade mineralisation at depth.
Click here for the full ASX Release
This article includes content from Pivotal Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Wyloo to Build Canada’s First Battery Materials Processing Facility in Sudbury
Privately owned critical materials company Wyloo announced on May 29 that it has secured a parcel of land in Sudbury, Ontario, to construct Canada’s first downstream battery materials processing facility.
The project is geared at bridging a gap in the conversion of raw materials to battery-grade chemicals for Canada’s electric vehicle (EV) supply chain, while also reducing the country's reliance on imports.
Construction is anticipated to align with the development of Wyloo’s Eagle’s Nest mine in Northern Ontario’s Ring of Fire region, with mine construction expected to commence in 2027 and the facility to follow thereafter.
Wyloo's facility will process nickel sourced primarily from Eagle’s Nest. It will also process third-party nickel-bearing feed and recycled battery materials, aiming to meet half of the nickel demand generated by Canada’s burgeoning EV industry.
Wyloo CEO Kristan Straub emphasized the strategic importance of this facility in a company press release.
“The urgency to bolster North America’s capacity for processing metals — particularly nickel — has never been more apparent. Our Sudbury facility will provide a critical link in the supply chain, producing low-carbon nickel sulphate and nickel-dominant precursor cathode active material (pCAM), essential components for EV batteries,” he said.
Canada building EV supply chain momentum
Wyloo’s announcement marks another development in Canada’s growing EV supply chain momentum.
In April, Honda Motor (NYSE:HMC) announced a C$15 billion investment to establish an EV value chain in Ontario.
The company wants to construct an innovative and environmentally responsible EV plant and standalone EV battery plant that will feature a cathode active material and pCAM processing plant.
The project is expected to commence production in 2028, with an annual capacity of 240,000 vehicles. The accompanying EV battery plant will have a production capacity of 36 gigawatt hours per year.
Honda’s investment aligns with Canada's strategy to become a global leader in EV production. According to Wyloo's Straub, the nation's government has committed over C$40 billion to develop a complete EV supply chain, emphasizing local production and reducing reliance on foreign imports.
In addition to its Canadian venture, Wyloo is advancing plans for an integrated battery materials facility in Kwinana, Western Australia. This project, which was announced in April 2023 and is a partnership with IGO (ASX:IGO,OTC Pink:IPDGF), aims to integrate a downstream nickel refinery with a plant producing high-value pCAM.
According to the companies, the Kwinana facility will capitalize on Western Australia’s substantial nickel reserves and existing lithium hydroxide production infrastructure.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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