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Anglo American to buy 9.9% stake in Canada Nickel

Reuters
·1 min read
FILE PHOTO: The Anglo American logo is seen on the jacket of an employee of the Los Bronces copper mine on the outskirts of Santiago

(Reuters) - Anglo American Plc will buy a 9.9% stake in Canada Nickel Co Inc, the owner of the Crawford nickel project in Ontario, in its bid to expand production of the niche metal, the London-listed miner said on Wednesday.

Anglo American, which did not provide financial details of the deal, said it would provide technology expertise to the Crawford project and have the exclusive right to buy up to 10% of recoveries of nickel concentrate, iron and chromium contained in the magnetite concentrates and any corresponding carbon credits from the project.

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Maju Samuel)