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Crawford nickel sulphide project, Canada – update

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14th October 2022

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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Name of the Project
Crawford nickel sulphide project.

Location
Timmins, in Ontario, Canada.

Project Owner/s
Canadian developer Canada Nickel Company.

Project Description
A preliminary economic assessment (PEA) on the Crawford project has confirmed its robust economics.

The PEA has demonstrated the potential to develop a phased conventional nickel sulphide concentrator producing nickel and magnetite concentrates.

Crawford will be a conventional openpit mine/mill operation, powered by zero-carbon electricity while using trolley trucks and electric rope shovels to minimise its carbon footprint through reduced diesel consumption.

Average production is estimated at 34 000 t/y nickel, with production peaking at 42 000 t/y. Production will include significant iron and chrome by-products of 860 000 t/y and 59 000 t/y respectively.

The process plant will use a conventional milling operation comprising rushing, grinding, desliming and flotation operations consistent with other ultramafic nickel operations. The process plant will be constructed in three phases.

Phase 1 will have a steady-state throughput of 42 500 t/d using a single 36 ft x 24 ft semiautonomous grinding mill and a 26.5 ft × 44 ft ball mill grinding circuit. Phase 2 will double throughput, starting in Year 4, by mirroring the first line. Phase 3 will raise production to the ultimate rate of 120 000 t/d through the addition of secondary crushing, a third ball mill and additional downstream capacity.

About 842 000 t of nickel, 21-million tonnes of iron and 1.5-million tonnes of chrome is expected to be produced over the project’s 25-year mine life.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an estimated after-tax net present value, at an 8% discount rate, of $1.2-billion and an internal rate of return of 16%.

Capital Expenditure
Phase 1 will cost about $1.19-billion, Phase 2 about $534-million and Phase 3 is estimated at $194-million.

Planned Start/End Date
Not stated.

Latest Developments
Canada Nickel has arranged a $10-million loan with precious metals merchant Auramet, which will be used for post-feasibility study work, including permitting and detailed engineering for the Crawford project.

The feasibility study for the Crawford project is on track to be completed by year-end, with study work about 85% complete, chairperson and CEO Mark Selby has said.

The Auramet loan will be due on January 14, 2023, and will carry an interest rate of 1% a month, and be subjected to a 2% arrangement fee. At closing, Auramet will also receive 325 000 one-year warrants with a strike price of $1.52 a share.

Key Contracts, Suppliers and Consultants
Ausenco Engineering Canada (PEA).

Contact Details for Project Information
Canada Nickel Company, email info@canadanickel.com.

Edited by Creamer Media Reporter

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