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Be the first with the news that moves the market- Giga Metals and Mitsubishi Corporation have agreed to establish a joint venture company, Hard Creek Nickel Corp, to develop the Turnagain Nickel Project in northern B.C.
- Mark Jarvis, CEO of Giga Metals, sat down with Daniella Atkinson to discuss the partnership
- Giga will receive an 85 per cent equity interest in Hard Creek in exchange for contributing all related assets for the Turnagain project
- A Pre-Feasibility Study (PFS) for the Turnagain project is scheduled to be completed in the first half of 2023
- Giga Metals acquires and explores mineral properties in Canada focusing on nickel and cobalt
- Giga Metals Corporation (GIGA) opened trading at C$0.325
Giga Metals and Mitsubishi Corporation have agreed to establish a joint venture company, Hard Creek Nickel Corp, to develop the Turnagain Nickel Project in northern B.C.
Mark Jarvis, CEO of Giga Metals, sat down with Daniella Atkinson to discuss the partnership.
Mitsubishi will acquire a 15 per cent equity interest in Hard Creek for a cash payment of C$8 million. Giga will receive an 85 per cent equity interest in Hard Creek in exchange for contributing all related assets for the Turnagain project. With support from Mitsubishi, Giga will operate the joint venture and work on a Pre-Feasibility Study (PFS) for the Turnagain project, with expected completion in the first half of 2023.
Giga and MC intend to jointly develop the Turnagain project as one of the greenest and most environmentally friendly nickel projects globally. Building on the inherently low carbon nature of the Project, Hard Creek will continue the work of Giga to explore the viability of the tailings to sequester CO2 from the atmosphere to achieve a carbon neutral project. Also, Hard Creek will work closely with local communities and the relevant First Nations to develop the Turnagain Project in a way which will be beneficial for all stakeholders in British Columbia, a jurisdiction that has adopted the United Nations Declaration on the Rights of Indigenous Peoples.
Completion of the proposed joint venture is subject to the approval of the TSX Venture Exchange and receipt of all regulatory and third-party approvals.
Giga Metals acquires and explores mineral properties in Canada. The company is focused on two of the key metals used in the batteries of electric vehicles: nickel and cobalt.
Giga Metals Corporation (GIGA) opened trading at C$0.325.
