EV Nickel Releases PEA for CarLang A Nickel Deposit Projecting 1.6 Billion Pounds Extraction Over 20 Years

Published: May 8, 2025 23:39

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EV Nickel has released a Preliminary Economic Assessment (PEA) for the CarLang A nickel deposit located near Timmins, Ontario, projecting the extraction of 1.6 billion pounds of nickel over a 20-year period. The project is a large-scale open-pit mining initiative, with ore grade at 0.24% and the ore body situated close to the surface, requiring only moderate capital investment. The total project cost is US$4.6 billion, including an initial capital expenditure of US$3.1 billion. The mine is designed with a daily capacity of 120,000 mt, benefiting from favorable conditions such as shallow overburden and a low strip ratio. The company anticipates robust financial returns from the project, with annual EBITDA of US$681 million and annual free cash flow of US$360 million. Currently, the company has initiated environmental baseline studies and government approval processes.

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