Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeMiningNewsOttawa approves building of key nickel mine in OntarioThe Crawford mine is one of 18 projects that the federal government has referred to the Major Projects OfficeLast updated 25 minutes ago You can save this article by registering for free here. Or sign-in if you have an account.The cost to build the Crawford mine would be about US$2 billion, but Canada Nickel will have to raise US$2.5 billion to cover interests and other aspects. Photo by Supplied/Canada Nickel Company Inc.Ottawa has approved the construction of a mine in Ontario that’s expected to be the largest nickel sulphide operation in the west, a key metal that’s used to build stainless steel and batteries of electric vehicles.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorCanada Nickel Company Inc. received the federal government’s approval for its Crawford Nickel Project, located about 42 kilometres north of Timmins in Ontario. The project is expected to attract $5 billion in investment and create 4,000 new careers, the federal government said in a statement on Friday.“Nickel is one of those commodities that China has been able to garner significant influence,” said Mark Selby, chief executive of Canada Nickel. “Two-thirds of the world’s nickel now comes from Indonesia through plants that are largely Chinese controlled.”SUBSCRIBER EXCLUSIVE: FP West: Energy Insider brings you behind the oilpatch’s closed doors with exclusive insights from insiders every Wednesday morning.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of FP West: Energy Insider will soon be in your inbox.We encountered an issue signing you up. Please try againThe Crawford project is one of 18 projects that the federal government has referred to the Major Projects Office, an agency created by prime minister Mark Carney’s government to speed up the building of key projects that are likely to boost Canada’s economy and, in the process, reduce the country’s reliance on the United States.The metal, which is used in the aerospace, defence and automotive sectors, is also considered one of Canada’s critical minerals. These are minerals that are likely to play a key role in the gradual transition of the global economy towards clean energy.In case of electric vehicles, nickel is used primarily for big cars and trucks and luxury vehicles, since the metal, that’s used as a battery cathode, helps provide a longer range.While Canada Nickel has received an approval from the federal government, it doesn’t expect to begin construction until the fourth quarter of 2027. It will take about two more years after the start, to finish building the mine. It’s expected to run for 41 years.“This is the main permit in terms of approval, but there’s a number of supplementary permits, both at the provincial and federal level that you require. They are not sort of a big yes or no permits, but we need to get through the work before we break ground,” said Selby. Mark Selby, CEO of Canada Nickel Company Inc., holds a core sample from a drilling program at its Crawford location. Photo by Supplied/Canada Nickel Company Inc.The cost to build the mine would be about US$2 billion, but Canada Nickel will have to raise US$2.5 billion to cover interests and other aspects. US$1.5 billion will be raised through debt, while another billion through equity, Selby said.Canada’s environment minister Julie Dabrusin deemed that the potential effects as a result of the mine are justified when taking into account the benefits of the project, the federal government said in a statement. The decision was informed based on scientific evidence and consultation with Indigenous groups, the statement said.Canada’s energy minister Tim Hodgson said in the same statement that the approval of the project is evidence that the government is working towards streamlining permitting processes.Canada, in general, has been criticized for taking several years to provide approvals to build mines. Selby said that the approval for his project took fraction of the time required by most big mining projects. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. 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