Talon Metals is scouring the United States of America for new sources of nickel supply.
What’s happening:
- Talon Metals (TSX: TLO) has announced they have officially begun drilling for nickel and copper at their Michigan property
Why it matters:
- Talon Metal’s property in Michigan is just 1.7 miles away from the only operation nickel mine in the entire United States known as the Eagle Nickel Mine, which is owned by mining giant Lundin Mining (TSX: LUN)
By the numbers:
- Nearly 50% of all the costs of exploration and mining done by Talon Metals at their Michigan property will be refunded by the United States Department of Defense, who have committed a total of $20.6M USD to finding domestic nickel in both Michigan and Minnesota in partnership with Talon Metals
- Talon Metals will be exploring 80 drill targets in Michigan that previously showed high grades of both nickel and copper which are comparable to their flagship Tamarack property in Minnesota
Going deeper:
- The need for domestic sources of both nickel and copper has been quickly growing, as electric vehicles manufacturers need to secure battery grade metals from within North America in order to qualify for available tax credits which has led to a scramble to secure domestic nickel supply (INTERNAL HYPERLINK- The race for nickel)
The intrigue:
- Copper prices have recently been surging due to the need to drastically increase copper production globally in order to meet the boom in demand caused by the energy transition and electric vehicle manufacturing
