Canada Nickel’s Crawford $2-billion mine plan is seen as a key project for the nation.
The has reported that the federal government is set to approve Canada Nickel’s construction of its Crawford open-pit nickel mine, located north of Timmins.
According to The Globe, two unnamed sources have confirmed this information. A formal announcement regarding the approval is expected on Friday.
Crawford is one of the projects selected by the federal government as a ‘nation-building’ initiative that will receive expedited review through the Major Projects Office.
The Toronto-based mining company indicated in June that it anticipated a decision from federal environment minister Julie Dabrusin within 30 days following their submission of the final impact assessment report.
This approval clears all federal regulatory hurdles for the proposed pit operation, situated 40 kilometers north of Timmins, allowing Canada Nickel to secure the $2.5 billion required to make a formal decision on construction and start ordering essential long-lead equipment.
Canada Nickel is still finalizing its financing package for Crawford, which includes discussions with Export Development Canada and various strategic lenders and private equity investors.
The company aims to begin construction in 2027 and hopes to be in production by 2029. The mine would initially operate for 40 years.
This development could greatly benefit Timmins and northeastern Ontario’s economy, creating over 1,000 direct jobs according to a Canada Nickel economic impact report, along with more than 3,000 indirect jobs in mining and support services.
Crawford holds 3.8 million tonnes of proven and probable nickel reserves. The company claims it has one of the largest nickel reserves globally, second only to Norilsk in Russia.
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