With electric vehicle adoption accelerating globally, demand for battery metals like nickel is skyrocketing. Flying Nickel Mining (TSXV:FLYN)(OTCQB:FLYNF) aims to be one of the few new nickel producers coming online in the next few years to meet this demand.
MiningFeeds spoke with Flying Nickel CEO John Lee about advancing the company’s flagship Minago nickel project in Manitoba, which he believes can reach production within 5 years to capture surging nickel demand from the EV industry.
“Nickel is a key ingredient in electric vehicle batteries. Flying Nickel aims to be the first new nickel mine in Canada within the next 5 years to supply clean nickel with a low carbon footprint to the electric vehicle industry,” said Lee.
The Minago project is located in the prolific Thompson nickel belt, the second-largest nickel district in North America. Flying Nickel is focused on permitting and development at Minago, with the goal of bringing it into production by 2025 to meet rising nickel demand from the surging electric vehicle market. According to Lee, Minago holds a number of key advantages that position it to be one of the few new nickel mines coming online in the next half-decade.
Competitive Advantages
The Minago project holds a number of competitive advantages that Lee believes will make it one of the top new nickel mines globally.
“Our project is expected to achieve full permit status in 2024 and will be one of very few projects that can get nickel out of the ground in the next 5 years,” he explained. “It has high grade 0.7% nickel in an open pit configuration, which means low technical risk and low cost relative to our peers.”
Minago is located in the Thompson nickel belt, the 2nd largest in North America, with excellent infrastructure and local support. The nearby Norway House Cree Nation is one of Flying Nickel’s largest shareholders, aligning interests between the company and the community.
Advancing Towards Production
With permitting expected in 2024, Flying Nickel is positioned to make a construction decision shortly after. “The company is in a position to make a construction decision in 2024 after full permit is granted to Minago,” noted Lee.
The recent $600k private placement provides capital to advance permitting and technical studies. A new resource estimate incorporating palladium and platinum is also underway, which Lee believes could significantly expand in-situ metals and enhance project economics.
Capturing EV Growth
Looking ahead, Lee sees Flying Nickel emerging as a major North American nickel producer as demand balloons.
“Flying Nickel aims to be a significant producer of clean nickel with a low carbon footprint in North America in 5 years. It’s one of very few new greenfield nickel deposits going into production before 2030,” he commented.
Lee believes Minago can help fill the growing global nickel deficit as EV adoption accelerates. “Nickel demand is projected to double with increasing EV adoption by 2030. Minago aims to capture that market share.”
With permitting expected soon, Flying Nickel presents a unique nickel exploration and development opportunity. “Our project is expected to achieve full permit status in 2024 and announce the construction decision, it will be one of very few projects that can get nickel out of the ground in the next 5 years.”
