Ontario Government Expresses Support for First
Nation - Industry Partnership
TORONTO, Dec. 16, 2020
/CNW/ - Canada Nickel Company Inc. ("Canada Nickel"
or "The Company") (TSXV:CNC) (OTCQB: CNIKF)
is pleased to announce that the Company has signed a Memorandum Of
Understanding ("MOU") with Taykwa Tagamou Nation
("TTN") , with the objective of establishing a long-term,
mutually beneficial business relationship.
"Canada Nickel is fully committed to the responsible
development of the Crawford Nickel-Cobalt Sulphide project to
deliver NetZero Nickel and Cobalt
products. From the very beginning, our approach has been to work
with First Nations and local stakeholders as partners in order to
create shared value through economic opportunities, while also
being respectful and responsible stewards of the natural
environment. We welcome their innovative partnering approach
and their support of our efforts to move forward on the
development, permitting and construction of the
project." said Mark Selby,
Chair and CEO of Canada Nickel. "Canada Nickel acknowledges TTN
in their commitment to protect and enhance the land and
resource-based economy within their Traditional Territory.
We are grateful for the open and constructive communications we
have had with them and look forward to moving forward together in
the same spirit of partnership."
TTN Electrical Transmission Project
As described in the MOU between TTN and Canada Nickel, TTN has
already arranged access to capital so that it can own and develop
the electrical transmission assets that will be necessary to supply
Crawford with cost-effective and reliable power. Subject to
entering definitive agreements based on this non-binding MOU,
Canada Nickel would rent these assets from TTN at a fair market
rate over the life of the mine or twenty years (whichever comes
first) and TTN would be granted an option to acquire a direct
minority interest in Canada Nickel
at fair commercial terms. The Company and TTN are considering
other mutually beneficial business ventures.
"Our community favours a development project like
Canada
Nickel's that provides a positive economic impact,
minimal environmental impacts with a commitment to deliver NetZero
products, and has the foresight to engage with Taykwa Tagamou
during the early stages of development," said Chief
Bruce Archibald, Taykwa Tagamou
Nation.
TTN has made similar commitments to facilitating sustainable
development through its investments to bring clean hydro electric
power to industry and communities. TTN has also been a keen
advocate with the Independent Electrical System Operator of
Ontario (IESO) for upgrading and
expanding the energy transmission network on their Traditional
Lands.
The Chief concluded that, "We are ready to support
Canada Nickel's Crawford project through the backing of
our strong investment consortium in Canada and the US, and with the deep utility
project and operation experience we have on our team." In
2017, TTN, through its subsidiary Coral Rapids Power, co-invested
with Ontario Power Generation, in the 28 MW, Peter Sutherland Sr. Generating Station.
"Through our success stories and business partnerships, we are
taking a business approach to each development opportunity within
the Territory that ensures us a seat at the table. We intend
on expanding our generation footprint and launch an
independent network for all new and rebuilt transmission projects
within our Territory. This network will be fully integrated into
the Ontario power grid under the
oversight of the IESO."
Ontario Supports First Nation and Industry Alliances
Greg Rickford, Minister of
Energy, Northern Development and Mines; Minister of Indigenous
Affairs congratulated both parties on reaching such a historic
agreement.
"I congratulate Taykwa Tagamou Nation and Canada Nickel on
the signing of their historic Memorandum of Understanding. Our
government is proud to support First Nation-industry partnerships
like TTN and Canada Nickel's that create real economic development
and job opportunities in Northern
Ontario," said Greg
Rickford, Minister of Energy, Northern Development and
Mines; Minister of Indigenous Affairs.
"Innovative partnerships like this one are outstanding
examples of how First Nations and Ontario's mining industry are leading the way
in sustainable business development and corporate social
responsibility. With TTN's partnership and leadership in the
region, the Crawford Nickel-Cobalt project is well-positioned to
deliver the zero-carbon nickel and cobalt that the electric vehicle
industry will need in the coming decades."
About TTN
As a signatory of Treaty 9, Taykwa Tagamou Nation is a
Mushkegowuk Cree community located near Cochrane, Ontario and maintains the
traditional territory within the Abitibi, Moose, and Mattagami
River basins, including areas on both sides of the Highway 101
coordinator. TTN is actively involved in forestry operations,
mining, and hydro development.
About Canada Nickel Company
Canada Nickel Company
Inc. is advancing the next generation of nickel-cobalt sulphide
projects to deliver nickel and cobalt required to feed the high
growth electric vehicle and stainless steel markets. Canada
Nickel Company has applied in multiple jurisdictions to trademark
the terms NetZero NickelTM, NetZero CobaltTM,
NetZero IronTM and is pursuing the development of
processes to allow the production of net zero carbon nickel,
cobalt, and iron products. Canada Nickel provides investors with
leverage to nickel and cobalt in low political risk
jurisdictions. Canada Nickel is currently anchored by its
100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the
heart of the prolific Timmins-Cochrane mining camp. For more information,
please visit www.canadanickel.com.
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SOURCE Canada Nickel Company Inc.