Tesla in talks to purchase low carbon nickel from Canada’s Giga Metals, according to Reuters sources.

  • Giga Metals project would allow absorbing CO2 during metal production. The Canadian company will also use hydropower to produce low carbon nickel. 
  • Giga Metals’ President Martin Vydra rejected to comment on this announcement but said: “Giga is actively engaged, and has been for some time, with car producers regarding our ability to produce carbon-neutral nickel.”
  • The cost of developing our project, excluding bringing hydroelectric power to the site, will be less than $1 billion.” Turnagain is stated as one of the biggest undeveloped sulfide nickel projects globally.
  • Shares of Giga Metals Corp, up 200.45%

In July, Elon Musk announced, “Tesla will give you a giant contract for a long period of time if you mine nickel efficiently and in an environmentally sensitive way.” Giga Metals’ fast response to Tesla CEO’s call for a resources shows that Giga’s Turnagain project in Canada is pretending to be a source of environment-friendly nickel for Tesla’s electric vehicles.