Samsung SDI Invests in Canada Nickel, Ignoring Short-Term Market Oversupply
Portfolio Pulse from Stjepan Kalinic
Samsung SDI (KRX: 006400) has invested $18.5 million in Canada Nickel Company (TSXV:CNC) for an 8.7% stake and rights to 10% of the nickel-cobalt production from the Crawford project. This follows investments from Agnico Eagle Mines (NYSE:AEM) and Anglo American (LON: AAL). Despite a current oversupply and weak nickel market, companies are investing in anticipation of future EV battery demand.
January 16, 2024 | 4:10 pm
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Agnico Eagle Mines recently invested C$23.1 million for a 12% stake in Canada Nickel, showing confidence in the Crawford nickel project.
Agnico Eagle Mines' recent investment in Canada Nickel indicates a strategic move to diversify and capitalize on the future demand for nickel in the EV industry. This could positively influence AEM's stock in the short term as investors may view it as a forward-thinking investment.
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