Swiss Steel, Canada Nickel solidify low-carbon steel partnership

Key Takeaways:

• Canada Nickel Company and Lucerne-based Swiss Steel Group agreed to pursue an exclusive, long-term supply agreement for low-carbon steel starting in 2030.
• The framework grants Swiss Steel up to one million tonnes per year of semi-finished steel billets and blooms for its European and North American plants.
• The material will be manufactured by Canada Nickel subsidiary NetZero Metals using concentrates from the proposed Crawford Nickel project near Timmins, Ont., targeting a construction decision in 2027.

The Whole Story:

Toronto-based Canada Nickel Company Inc. and Switzerland’s Swiss Steel Group have signed an agreement outlining plans to form an exclusive, long-term strategic partnership for the supply of low-carbon semi-finished steel from Northern Ontario.

Under the framework signed Oct. 23, Swiss Steel Group would secure exclusive access to approximately one million tonnes of low-carbon semi-finished steel products annually starting in 2030. The proposed deal will supply low-emission billets and blooms to feed Swiss Steel’s specialty manufacturing facilities across Canada, the United States, Germany, Switzerland, and France.

The supply chain relies on Canada Nickel’s flagship Crawford Nickel project in the Timmins-Cochrane mining camp. Through its wholly owned subsidiary NetZero Metals, Canada Nickel intends to process mine concentrates into finished nickel while converting nickel-chromium magnetite concentrates into low-carbon—and potentially net-zero—semi-finished stainless and specialty steel.

“This intended partnership supports an important element of our strategy: focusing our own industrial footprint while securing flexible access to competitive, low-carbon pre-material,” said Frank Koch, Chief Executive Officer of Swiss Steel Group. “Together with Canada Nickel Company, we will now work towards translating this concept into a commercially and technically viable long-term partnership.”

Mark Selby, Chief Executive Officer of Canada Nickel, noted that the planned cooperation helps capture value-added manufacturing within Canada rather than shipping unprocessed raw commodities overseas.

“Rather than simply exporting energy, Canada Nickel is using this energy for value-added production here at home, strengthening Canada’s industrial base while effectively exporting Canada’s natural gas and electricity advantages to support Europe’s competitiveness and long-term supply security,” Selby said. He added that the companies will seek European critical minerals funding as Canada Nickel works toward a final construction decision for the Crawford project in 2027.

George Pirie, Ontario Minister of Northern Economic Development and Growth, welcomed the cross-border agreement, calling it an example of how Northern Ontario’s critical mineral resources can support resilient transatlantic supply chains and global decarbonization goals.