Canada NICKEL CO Stock Analysis | Solution Tesla's Nickel Problem? CNC CNIKF Stock Elon Musk

TORONTO, July 27, 2020 /PRNewswire/ - Canada Nickel Company Inc. (TSX-V: CNC or CNIKF U.S.) ("Canada Nickel" or the "Company") is pleased to announce it has created a wholly-owned subsidiary, NetZero Metals, to begin the research and development of a processing facility that would be located in the Timmins, Ontario region with the goal of utilizing existing technologies to produce zero-carbon nickel, cobalt and iron products.

Toronto-based Canada Nickel Co. said it’s looking into building a facility that will process zero-carbon nickel just days after the Tesla Inc. boss pledged a “giant” contract to miners that produce the critical battery metal in an “environmentally sensitive” manner.

“The electric vehicle chain and broader market in general is crying out for zero-carbon product,” Canada Nickel Chief Executive Officer Mark Selby said by telephone.

The estimated $1 billion facility would be developed in an area of northern Ontario that is close to hydroelectric power. The company is also exploring using serpentine rock, which naturally absorbs carbon dioxide when exposed to air.

Nickel is a key component for the cathodes of electric-vehicle batteries and could face a shortage as soon as 2023, according to BloombergNEF. #cnikf stock #cnc stock

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