Canada Nickel Company (TSXV: CNC | OTCQX: CNIKF) has successfully finished piloting its carbon storage plant, demonstrating the value of its novel process, in-process tailings (IPT) carbonation.
The company processed more than seven tonnes of tailings, gives hope that IPT can be applied to other projects, and confirmed the engineering design parameters for IPT carbonation, which will be integrated into the feasibility study due on the 12th of October.
Canada Nickel pointed out a study that confirms the Crawford project could be generating in excess of C$25/t of carbon dioxide (CO2) in storage fees from the process based on publicly known storage fees, given communicated carbon prices, and policy status. The study also confirmed that IPT could sequester more than 20Mt of CO2 annually from a population of about 150 potential emitters.
“Our successful pilot plant results, coupled with this study, confirm the significant value potential of the Company’s IPT Carbonation process. The potential demand for more than 20Mtpa of CO2 storage is well in excess of the 1Mt capacity for Crawford, commented Mark Selby, Canada Nickel’s CEO.
“(This) supports our Company’s belief that our Timmins Nickel District can anchor a Zero Carbon Industrial Cluster in the Timmins-Cochrane region. As we rapidly advance Crawford towards production, the company continues to build its team to ensure we can maximize the value from our project.”
The company’s Crawford project is hosted in ultramafic rock, which naturally absorbs and sequesters CO2. The company has developed the novel IPT carbonation process, which involves injecting a concentrated source of CO2 into tailings for a brief period. This process captures CO2 in the tailings while they are still in the processing circuit, rather than after they have been deposited.
Permitting remains on-track and good progress is being made through the second stage of federal permitting. The company continues to target receipt of permits by mid-2025 with construction to follow.
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