20:28:18 EDT Mon 29 Apr 2024
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or Name
USA
CA



Agnico Eagle Mines Ltd
Symbol AEM
Shares Issued 497,757,272
Close 2024-01-12 C$ 70.48
Market Cap C$ 35,081,932,531
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Globe says Canada Nickel sees potential for acquisition

2024-01-15 07:31 ET - In the News

See In the News (C-CNC) Canada Nickel Company Inc

The Globe and Mail reports in its Saturday, Jan. 13, edition that Canada Nickel chief executive officer Mark Selby sees the potential for a major mining company to buy the firm, after it attracted yet another strategic investment from a global industry player. The Globe's Niall McGee writes that Canada Nickel announced an $18.5-million (U.S.) equity financing from Korean electric-car battery maker Samsung SDI on Friday. Canada Nickel is planning to build a massive new open-pit nickel and cobalt mine in the Timmins-Cochrane mining camp in Northeastern Ontario. The project, known as Crawford, would eventually supply those battery metals to the electric-vehicle market. Samsung is the company's third major strategic investor. Canada Nickel had already attracted financing from Anglo American last year, and Agnico Eagle Mines in late December. With a growing list of strategic investors on board, the prospect of a buyout offer from one, or a combination of them, is a possibility, Mr. Selby acknowledged in an interview. "Most of the existing nickel sulphide deposits that have been around for 10 years or more have all been bought up by a major in one way, shape or form," said Mr. Selby.

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