Possible New Nickel Deposit Found in Canada
September 30, 2005
Based on recent studies, Hard Creek Nickel Corp. Vancouver, British Columbia, Canada, believes it has a significant nickel deposit within its 100% owned Turnagain Project in central British Columbia. The large area contains sulphide rich zones where nickel can be extracted. Nickel is used in many metal alloy grades including superalloys, heat resistant alloys and stainless steels (which accounts for approximately two-thirds of total consumption). According to Inco, a major nickel-producing company, China's consumption of nickel is growing at more than 20% per year, consuming about 3 kg, or about 6.5 pounds, of stainless steel per capita per year. As a result, the price of nickel has risen significantly. Hard Creek Nickel believes that as the nickel industry faces an increase in stainless steel consumption, low inventories and limited increases in supply, Hard Creek Nickel's Turnagain project could prove particularly valuable.