NICKEL ASIA Corp. has bought 33.05 million common shares of Coral Bay Nickel Corp. (CBNC) for $25.93 million, it said on Monday. READ
“This investment by the company was made in furtherance of its commitments toward sustainability, environmental protection and renewable energy, since the processing of lateritic nickel ores by the CBNC plant allows the utilization of cobalt and nickel derived from such ores for manufacturing electric vehicle batteries,” Nickel Asia said in a disclosure.
“The sale and purchase transaction also strengthens the long-standing partnership between the company and SMM,” it added.
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