Samsung Canada plans to invest 18.5 million in nickel

Samsung STI, a subsidiary of Samsung Electronics, is reportedly set to invest $18.5 million in Canada Nickel. Canada Nickel agrees to invest to meet global demand for electric vehicle components, according to the statement. Canada Nickel is in the process of developing the Crawford deposit, located on Highway 655 near the Highway 11 interchange. Samsung has an agreement to invest an additional $100 million for a 10 percent stake in the Crawford project upon completion. It is considered to be the second largest nickel deposit in the world.