Canada Nickel Taps SB1 Markets for $600 Million Crawford Project Loan

The proposed financing is intended to cover more than half of the equity capital required to construct the Crawford site, a central component of the company's long-term capital strategy. CEO Mark Selby noted that the partnership allows the firm to leverage Canada’s critical mineral tax incentives to accelerate project development. Canada Nickel expects to finalize the arrangement by the end of 2026, pending a final permitting decision expected in the near term.

SB1 Markets, a joint venture between SpareBank 1 and Swedbank, brings a track record of facilitating large-scale natural resource financing, having arranged approximately US$70 billion in transactions over the past year. While the company is aggressively pursuing these funds, management cautioned that the deal remains subject to market conditions and standard regulatory approvals, with no guarantee that the financing will be completed under the current terms.