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Nordic Nickel CEO Sees Convergence of Supply Chain Players as Critical Metals Shortage Looms
“Downstream players are recognising that it's no longer possible for them to just be ready to buy whatever their critical minerals are … they need to look at partnering with companies like us early on, where they're securing their supplier for five to 10 years down the track,” said Nordic Nickel CEO Todd Ross.
Europe is set to become the second largest battery manufacturing hub outside of China, according to Nordic Nickel (ASX:NNL) Managing Director and CEO Todd Ross, and battery manufacturers and electric vehicle producers are now looking to secure future supply by partnering with resource companies.
“Downstream players are recognising that it's no longer possible for them to just be ready to buy whatever their critical minerals are … they need to look at partnering with companies like us early on, where they're securing their supplier for five to 10 years down the track,” Ross said.
Jurisdictions with known resources of critical minerals are also stepping up to boost exploration and production, such as speeding up the permitting process and bolstering infrastructure and access to skilled labour and equipment, he said. Nordic Nickel’s two nickel projects — Pulju and Maaninkijoki 3 — are located in Finland’s Central Lapland greenstone belt, one of the world’s most active geological districts for nickel sulphide.
“The support that we're getting in Finland is really around the existing industry that's already there. There's obviously a highly qualified and very experienced exploration industry and mining industry that already exists," Ross said. “We're very excited about the fact that we have this first-mover advantage in a district-scale province where we've wrapped it up with 20 and 40 square kilometres of landholding."
Watch the full interview with Nordic Nickel managing director and CEO Todd Ross above.
Disclaimer: This interview is sponsored by Nordic Nickel (ASX:NNL). This interview provides information which was sourced by the Investing News Network (INN) and approved by Nordic Nickel in order to help investors learn more about the company. Nordic Nickel is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Nordic Nickel and seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.
Exploring District-scale Nickel Asset in Finland to Support Growing Demand
Nordic Nickel (ASX:NNL) is a nickel sulphide exploration and development company focused on becoming a major supplier of sustainably sourced, traceable, high-purity class 1 nickel through its portfolio of highly prospective assets in Finland. A highly-credentialed team with a solid track record and experience throughout the mining industry leads the company in executing its exploration and development strategy.
Finland is a Tier-1 mining-friendly jurisdiction with a long mining history in the Central Lapland Greenstone Belt. Additionally, the country is incentivising battery mineral projects and is positioned to become a major player in the full battery value chain, making it an ideal jurisdiction for exploration and development.
The European Union Critical Minerals Act includes nickel as a critical mineral and will play a vital role in the energy transition and through the electrification of the transportation sector and renewable energy and storage industry.
Nordic’s Nickel’s 100-percent-owned flagship Pulju Project already has a JORC-compliant resource estimate of 133.6 million metric tonnes at 278,520 tonnes of nickel and 12,650 tonnes of cobalt. The Pulju Project’s unique mineralisation is amenable to a dual exploration strategy of both near-surface disseminated nickel and deeper high-grade massive sulphide lenses. The project is located in an area of known mineralisation where there have been a number of major discoveries, including the 304 Mt, open-pit Ni, Cu, Au, Kevitsa Mine, owned by Swedish mining company Boliden together with the world-class 44 Mt Cu, Ni, PGE, Sakatti Deposit discovered by Anglo American. Historical drilling has been shallow with no modern geophysics applied, which Nordic Nickel has now undertaken, and has identified multiple electromagnetic anomalies to target for the current 22,000-meter drilling campaign that is underway.
The current resource estimate for the Pulju Project is based on only 5 square kilometers out of a 250-square-kilometer land package. Nordic Nickel is currently undergoing a 22,000-meter drill campaign to expand the areas of known mineralization and target Sakatti style analogues of deeper high-grade massive sulphides.
In 2023, Nordic Nickel secured an exploration licence (EL) for the Pulju Project. The newly granted EL, known as Holtinvaara, is highly prospective for nickel sulphide mineralisation and is three times the size of the Hotinvaara Prospect, which has been the focus of Nordic’s maiden exploration program and the company's resource development activities to date.
Nordic Nickel’s second project, the Maaninkajoki 3 (MJ3) asset comprises 30 square kilometers of exploration licenses and also situated in a region of known mineralisation or similar mafic/ultramafic lithologies to the near-by Sakatti deposit. The company has an earn-in agreement to acquire 75 percent of the asset as exploration continues.
A management team with a range of expertise throughout the mining industry builds confidence in the company’s goal to explore its assets fully. Expertise includes corporate administration, geology and international finance.
- Nordic Nickel is an Australian exploration and development company focusing on its district-scale nickel assets in Northern Finland
- Finland is a Tier-1 mining jurisdiction with a deep history in the industry, resulting in mining-friendly regulations.
- The European Union Critical Minerals Act has included nickel as a critical mineral and exploration and development will benefit from future incentives.
- Nordic Nickel’s flagship Pulju Nickel Project already has a near-surface JORC-compliant resource estimate of 133.6 million tonnes, with 278,520 tonnes of Nickel and 12,500 tonnes of cobalt .
- The company’s second Maaninkajoki 3 Project covers 30 kilometers of exploration licenses, and the company has the option to earn up to 75 per cent.
- An experienced management team with a track record and deep expertise in the natural resources industry leads the company.
Pulju Nickel Project
The company’s 100-percent-owned flagship Pulju project covers 250 square kilometers of land in Finland's Central Lapland Greenstone Belt. Nordic Nickel is currently conducting a diamond drilling campaign with ~9,000 meters completed since the beginning of 2023 with initial assay results currently pending.
- Prolific Resource Estimate with Expansion Potential: The current JORC-compliant resource estimate indicates 133.6 million tonnes for 275,520 tonnes of contained nickel and 12,560 tonnes of contained cobalt. Nordic Nickel is currently undertaking a 22,000-meter drill campaign to expand areas of known mineralisation and target deeper, high grade massive sulphides.
- Encouraging Historical Drill Results: Past drill results, including 51 drill holes for both near-surface and deeper high-grade sulphides, have produced encouraging results.
- 97 meters at 0.33 percent nickel from 102 meters
- 122 meters at 0.25 percent nickel from 33 meters
- 108 meters at 0.26 percent nickel from 98 meters
- Massive sulphide intersections:
- 0.26 meters at 9.61 percent nickel, 0.17 percent copper and 0.36 percent cobalt from 147.37 meters
- 0.90 meters at 4.98 percent nickel, 0.03 percent copper and 0.14 percent cobalt from 190.40 meters
- 0.32 meters at 5.03 percent nickel, 0.06 percent copper and 0.24 percent cobalt from 45.7 meters
- Promising Geology: The regional geology of the project is amenable to rich nickel deposits. The presence of ultramafic rocks mirrors the Sakatti and Kevitsa deposits. The project contains a 35-kilometer continuous prospective strike with considerable blue-sky potential as exploration continues.
- Newly Granted Exploration License: The new Holtinvaara exploration licence is highly prospective for nickel sulphide mineralisation and is three times the size of the Hotinvaara Prospect, which has been the focus of Nordic’s maiden exploration program and the company's resource development activities to date.
Maaninkajoki 3 (MJ3) Nickel Project
Nordic Nickel’s MJ3 Project covers 30 kilometers of exploration licenses. The asset is subject to an earn-in agreement, which gives the company the right to acquire up to 75 percent of the project over two stages. The project is highly prospective for both intrusive-hosted and komatiite-hosted nickel sulphide mineralization.
Todd Ross - Managing Director and CEO
Todd Ross has over 23 years’ experience in finance, derivatives and corporate advisory within the natural resources sector. He is the former managing director and head of Western Australia for BNP Paribas. Ross is a specialist in project and acquisition financings across a range of commodities across multiple jurisdictions. His previous roles include senior positions at BNP Paribas, Westpac, Royal Bank of Canada, CBA and Oakvale Capital. Ross holds a Bachelor of Business from Edith Cowan University and a Graduate Diploma in Applied Finance & Investment from FINSIA.
Marcello Cardaci - Non-executive Chairman
Marcello Cardaci is the former partner of Gilbert & Tobin’s Corporate Advisory Group. He has 25 years’ experience advising public and private equity fund raisings, M&A and divestment. Cardaci has extensive experience on capital raisings, takeovers, schemes of arrangements and joint ventures. His current directorships include ASX-listed Altamin Limited and Manhattan Corporation Ltd. Cardaci holds degrees in law (BJuris, LLB) and commerce (BCom).
Robert Wrixon - Executive Director
Robert has over 20 years’ experience in corporate strategy, mining M&A and mineral exploration. He is the director of Starboard Global Ltd, private equity and incubation of projects in the metals and mining sector. His current directorships include Rafaella Resources Ltd, Emmerson PLC. Wrixon holds a PhD in mineral engineering from the University of California, Berkeley.
Juho Haverinen - Non-executive Director
Juho Haverinen has over ten years’ experience in planning and overseeing mineral exploration in Finland and is currently head of exploration for Magnus Minerals Oy. He has significant experience in Finland with exploration joint ventures with major multinational mining companies and is a member of the board of the Finnish Mining Association (FinnMin) and a board member of Magnus Minerals Oy. Haverinen holds both BSc and MSc degrees in geology from the University of Helsinki.
Aaron Bertolatti - Company Secretary and CFO
Aaron Bertolatti is a qualified chartered accountant and company secretary with over 15 years’ experience. He has significant experience in the administration of ASX-listed companies, corporate governance and corporate finance. He was previously CFO of Highfield Resources Ltd and American Pacific Borates Ltd.