Canada Nickel Signs Cooperation Agreement for 1 Million Tonnes of Low-Carbon Steel Annually

en.Wedoany.com Reported - On October 26, Canadian mining company Canada Nickel Company and Swiss Steel Group announced that the two parties signed a long-term strategic cooperation framework agreement on October 23, planning to supply approximately 1 million tonnes of low-carbon steel semi-finished products per year to Swiss Steel Group starting from 2030. The cooperation covers mineral processing of the Crawford nickel project in Canada, low-carbon steel billet production, and the construction of a transatlantic supply chain. Technical validation of the preliminary supply plan for production facilities in five countries has been completed.

Canada Nickel plans, through its wholly-owned subsidiary NetZero Metals, to process nickel-chromium magnetite concentrate produced from the Crawford nickel project in the Timmins area of Ontario into low-carbon stainless steel and specialty steel semi-finished products. The supplied products include steel billets and steel ingots, which Swiss Steel Group will use its existing processing facilities to convert into specialty steel products. The two parties have completed technical validation of the preliminary supply plan for production facilities in the United States, Canada, Germany, Switzerland, and France, and will continue to refine the commercial cooperation terms.

The Crawford nickel project is located in northern Ontario, Canada, and is the core asset that Canada Nickel is advancing toward development. The company plans to integrate nickel-chromium magnetite concentrate produced from the mine into a supporting processing system, while also producing nickel products and low-carbon steel semi-finished products. Swiss Steel Group will provide specialty steel processing capabilities and European market sales channels, and intends to obtain an exclusive purchasing arrangement for approximately 1 million tonnes of annual semi-finished product supply from the cooperation project.

Canada Nickel is advancing development of the Crawford project, with the goal of making a construction decision in 2027. In the next phase, the two companies will assess the commercial and technical feasibility of the long-term supply arrangement and, together with existing partners, study applying for European critical minerals-related financing support. What was signed is a proposed long-term cooperation framework, and the annual supply volume of 2030 remains a planned target.