Canada Nickel Company Inc. (TSXV: CNC | OTCQX: CNIKF) has announced that test work for its novel carbon storage process, In-Process Tailings (IPT) Carbonation, is demonstrating results that are significantly above expectations.
The company also announced that its Integrated Feasibility Study is expected to be released in September, following the completion of final engineering design for IPT Carbonation. All other engineering work for the Crawford feasibility study has been successfully completed.
“We believe the IPT Carbonation process has transformative potential for the company,” commented Mark Selby, chief financial officer of Canada Nickel.
“Our test work demonstrates the ability to efficiently store 1Mt of CO2 annually when the project is fully ramped up utilizing a process plant design of only 6.5hrs of residence time versus an initial design target of 12-24hrs.”
Canada Nickel’s Crawford Project is hosted in ultramafic rock, which naturally absorbs and sequesters CO2. Canada Nickel has developed the IPT Carbonation process which involves injecting a concentrated source of CO2 into tailings generated by the milling process for a brief period.
This simple process captures CO2 geologically in the tailings while they are still in the processing circuit, rather than after they have been finally deposited.
Access to the required testing facilities for pilot scale tests to confirm the engineering design for IPT Carbonation has been delayed to this summer and as a result, the integrated feasibility study for the project is now expected to be delivered in September 2023.
“Crawford is poised to be a leader in the energy transition through the large-scale production of critical minerals, including nickel and cobalt, and to become the sole North American producer of chromium, while also supporting Canada’s climate objectives through large scale carbon capture and storage and providing an anchor for a Zero Carbon Industrial Cluster in the Timmins-Cochrane region,” Selby added.
The company believes that the successful incorporation of IPT Carbonation could potentially allow a portion of its project capital expenditures to become eligible for the carbon capture and storage refundable investment tax credits of 37.5% to 60% for years 2022-2030 and 18.75% to 30% for years 2031-2040, as announced in the 2022 federal budget.
For further information, please visit: www.canadanickel.com
