Canada Nickel (OTC:CNIKF +28.9%) shoots to an all-time high after saying it is looking into building a $1B facility that will process zero-carbon nickel, just days after Tesla's Elon Musk pledged a "giant" contract to miners that produce the key battery metal.
"The electric vehicle chain and broader market in general is crying out for zero-carbon product," Canada Nickel CEO Mark Selby tells Bloomberg.
Selby says the potential plant would be developed in the Timmins-Cochrane region of northern Ontario, exploiting the company's proximity to hydroelectric power to reduce emissions.
Nickel futures (LN1:COM) climb to a six-month high, up as much as 1.5% to $13,865/ton, highest since Jan. 22.
ETF: JJN
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