Ontario has designated Canada Nickel’s Crawford project as the second initiative to be fast-tracked under its One Project, One Process (1P1P) framework. Construction is aimed to commence by the end of 2023, with the mine projected to open in Q4 2028. Provincial Energy Minister Stephen Lecce announced these details at a news conference in Timmins, where he highlighted the project’s potential economic impact of C$70 billion.
Crawford, located 40 km north of Timmins, stands out for its planned low CO2 emissions through a unique carbonization method that could capture 1.5 million tonnes of carbon annually. A 2023 feasibility study estimates the mine’s reserves will produce 3.5 billion pounds of nickel and generate annual EBITDA of C$811 million. The project is also significant as it has received fast-track approval from both the province and Ottawa, emphasizing its role in developing critical mineral supply chains.
Following the announcement, Canada Nickel’s shares rose 16%, reaching C$2.10, which values the company at approximately C$485 million. The Crawford project is expected to benefit from strong relationships with Indigenous communities in the region, as noted by Mattagami First Nation Chief Jennifer Constant.
