Canada Nickel (TSXV: CNC; US‑OTCQX: CNIKF) released results from an economic impact study for its flagship Crawford nickel project in the Timmins nickel district of Ontario. Mansfield Consulting prepared the study, which estimates Crawford will contribute more than $70 billion to Canada’s gross domestic product over the mine’s projected 40+ year life, including about $67 billion in Ontario.
The report forecasts the project will directly support roughly 1,000 jobs and produce about 3,000 indirect and induced jobs, totaling approximately 185,000 person‑years of employment and delivering about $16 billion in labour income. Mansfield also projects Crawford will generate $7.7 billion in federal tax revenues and $8.3 billion in provincial tax revenues.
Mark Selby, CEO of Canada Nickel, said: “These results confirm Crawford’s potential as one of our country’s most significant new critical minerals projects. Crawford is projected to generate substantial economic benefits for both Ontario and Canada while supplying the nickel and other critical minerals needed to meet growing global demand. The scale of this project – its long-term jobs, tax revenues, and GDP contributions– combined with the value generated from local downstream processing plants and the potential from eight additional projects, reinforces the Timmins nickel district’s emerging status as Ontario’s critical minerals corridor.”
Selby added: “Unlike many other critical mineral projects, Crawford is already well-advanced in permitting, has all of the major infrastructure in place, and has strong community support. With these crucial elements already established, Crawford is uniquely positioned to move forward efficiently and deliver tangible benefits sooner. Importantly, Crawford’s benefits will be delivered through established and collaborative partnerships with Indigenous Nations, who are actively engaged as co-developers in our shared success.”
Mansfield quantified Crawford’s economic impacts across development and operation phases and assessed direct, indirect and induced effects in Ontario and nationally. The study defines direct impacts as changes at front‑end businesses that receive project revenues and incur expenditures, such as the mine owner and contractors. Indirect impacts reflect activity among suppliers to those front‑end businesses. Induced impacts capture broader economy‑wide effects from employee spending by mine and supplier workers. Labour income refers to total wages and salaries.
Mansfield based its analysis on data from Canada Nickel’s November 2023 feasibility study. The study estimates national GDP impacts of $70.2 billion, composed of $51.7 billion in direct impacts, $11.2 billion in indirect impacts and $7.4 billion in induced impacts.
The study estimates total labour income of $15.9 billion, composed of $5.3 billion in direct labour income, $7.1 billion in indirect labour income and $3.5 billion in induced labour income. The study estimates total federal tax revenues of $7.7 billion, composed of $5.0 billion in direct federal taxes, $1.5 billion in indirect federal taxes and $1.3 billion in induced federal taxes. The study estimates total provincial tax revenues of $8.3 billion, composed of $6.0 billion in direct provincial taxes, $1.0 billion in indirect provincial taxes and $1.3 billion in induced provincial taxes.
The report breaks down federal and provincial tax sources and shows corporate income tax totaling $7.0 billion, provincial mining tax totaling $2.6 billion and other taxes, including personal income tax, totaling $1.5 billion. The subtotal of total tax revenues is $11.0 billion before accounting for a Canada‑targeted CTM investment tax credit, which reduces federal revenues by $1.1 billion and produces a net total of $9.9 billion in combined federal and provincial tax receipts.
For more information, visit www.CanadaNickel.com.
