Canada-based Conic Metals will officially change its name to Nickel 28 Capital Corp, or Nickel 28, from March 10.
The company is Canada’s only pure-play nickel-cobalt producers. The company’s board had approved the name change earlier in 2021, said the chairman of the board, Anthony Milewski in the press release.
Nickel 28’s nickel-cobalt production comes from Ramu nickel-cobalt operations in Papa New Guinea. Both the commodities are critical metals for the production of batteries for electric vehicles. Nickel 28 also receives royalties from several exploration projects in Canada, Australia and Papa New Guinea.
On NPI to nickel matte conversion
News about conversion of Nickel Pig Iron (NPI) to nickel matte led to speculation that new nickel supply is available to feed the requirements of the electric vehicle industry, and new investment in added capacity is no longer as critical.
Nickel 28 said that the capacity to convert nickel to sulphate in China is at its limit. It is not limited by nickel availability but it is limited by dissolving capacity, according to industry experts. Matte leaching, the process of converting nickel matte to a refined nickel product is a more complex and costly affair than dissolving nickel briquettes or powder. Matte leaching is not news to the industry and many companies have looked at it, but the economics would not support the plans coupled with growing awareness and focus on GHG emissions, the company said.