Business
Industry First, Nickel 28 Capital Corp. Buys Carbon Offsets for Its Share of Ramu Nickel and Cobalt Production
TORONTO / Mar 15, 2021 / Business Wire / Nickel 28 Capital Corp. (“Nickel 28” or the “Company”) (TSXV: NKL) (FSE: 3JC), one of Canada’s only pure-play nickel an
About this update from Nickel 28 Capital Corp
[{"type":"text","content":"TORONTO / Mar 15, 2021 / Business Wire / Nickel 28 Capital Corp. (“Nickel 28” or the “Company”) (TSXV: NKL) (FSE: 3JC), one of Canada’s only pure-play nickel and cobalt producers, is pleased to provide the following update. Nickel 28 has purchased 52,500 carbon offsets on the Verra Registry The carbon offsets will fully offset Nickel 28’s anticipated 2021 attributable greenhouse gas (GHG) emissions from the Ramu integrated nickel-cobalt mine and refinery The Company believes this will make it the mining industry’s first carbon neutral refined nickel-cobalt producer Anthony Milewski, the Company’s Chairman, commented “We are incredibly excited to be one of the first, if not the first, producers of refined nickel and cobalt in the world to fully offset its carbon footprint. We feel strongly that each of us has an obligation to do our part personally and professionally to help stave off the negative impacts of climate change. As the world pivots to electric vehicles and other means of decarbonization, it is imperative that the critical basic materials fueling the transition have the minimum possible impact on the environment.” On February 9, 2021, the Company announced that it had completed an independent analysis on GHG intensity for the Ramu nickel-cobalt operation, confirming the operation is one of the lower GHG emitters in the nickel industry. Ramu's average GHG intensity has been calculated at 15.6 tonnes carbon dioxide equivalent per tonne of nickel (15.6 tCO2e/t Ni) in mixed hydroxide product. This compares favourably to a nickel industry average GHG intensity of 36.6 tCO2e/t Ni as calculated by Wood Mackenzie. Nickel 28 will continue to introduce greater ESG (environmental, social and governance) transparency with respect to its assets in response to investor and industry trends. In addition to GHG emission reporting, Nickel 28 will be providing further clarity with respect to other key measures such as health and safety statistics, community investment, energy and water usage, rehabilitation, and land reclamation. About Nickel 28 Nickel 28 Capital Corp. is a nickel-cobalt producer through its 8.56% joint-venture interest in the producing, long-life and world-class Ramu Nickel-Cobalt Operation located in Papua New Guinea. Ramu provides Nickel 28 with significant attributable nickel and cobalt production thereby offering ou...