01:10 PM EDT, 10/09/2024 (MT Newswires) -- Canada Nickel ( CNIKF ) on Wednesday said it has been conditionally approved for a $4.38-million grant from Natural Resources Canada's Critical Minerals Infrastructure Fund (CMIF).

The grant is in support of the company's studies to undertake pre-construction and project development activities at the Crawford Nickel Sulphide Project, and will focus on electrical infrastructure. The studies are expected to be completed next June and are expected to cost $9.6 million in total.

By utilizing Ontario's clean electricity grid, the studies are expected to lead to mining production that will significantly reduce greenhouse gas emissions by more than 60% compared to diesel-powered operations, Canada Nickel ( CNIKF ) notes. The project also includes a permanent carbon storage component, making it a potential net-zero contributor of CO2 over its lifetime.

Canada Nickel ( CNIKF ) was last seen up $0.01, to $1.08, on the TSX Venture Exchange.

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