Canada Nickel (TSX:CNC) has selected SB1 Markets AS as exclusive adviser to arrange debt financing of up to US$600 million ($870 million).
The facility allows the company to monetise investment tax credits expected from the construction of its Crawford Nickel Project in Ontario.
Canada Nickel expects the financing to be finalised by end-2026, ahead of a final investment decision targeted for 2027.
CEO Mark Selby says the selection of SB1 Markets is based on the bank’s “highly successful track record” in natural resource projects.
“With a final permitting decision expected shortly, we can now move more aggressively on key components of our project financing as we advance towards a final investment decision,” Selby says.
He adds that bridge financing is “central” to Crawford’s overall capital structure.
“It allows us to deploy Canada’s generous investment tax credits available for critical mineral projects in Canada to fund more than half of the equity capital we need to build Crawford,” Selby says.
Located in the Timmins-Cochrane mining camp, the Crawford project is being developed to produce low-carbon nickel essential for batteries and green steel.
Canada Nickel is focused on advancing nickel-sulphide projects to supply the rapidly growing electric vehicle (EV) and stainless steel markets.
Write to Paula Fabe at Mining.com.au
Images: Canada Nickel
