Anglo is paying C$1.95 per common share of Canada Nickel, a 10% premium to the 30-day volume weighted average price.
Anglo will provide technology expertise to the Crawford project and has exclusive right to purchase up to 10% of the nickel concentrate, iron and chromium in the magnetite concentrates, and any corresponding carbon credits from the project.
Canada Nickel has also agreed to enter into a material transfer and technology testing agreement to assess opportunities to add value to Crawford from Anglo’s FutureSmart Mining technology program.
The Crawford project includes one of the largest undeveloped, bulk tonnage nickel sulphide resources in the world.
Last summer, Canada Nickel announced the resource had been doubled with measured and indicated resources totalling 1.4 billion tonnes grading 0.24% nickel and 6.59% iron for 3.48 million tonnes of contained nickel and 93.9 million tonnes of iron. Inferred resources are…
