Canada's Midland in nickel exploration funding deal with BHP

Midland Exploration

24/08/2020 14:13

Aug 24 (Reuters) - Midland Exploration Inc  MD.V  said on
Monday it had struck a funding deal with a subsidiary of BHP
Group Plc  BHPB.L  for nickel exploration in the Canadian
province of Quebec.
    The company's partnership with Rio Algom Ltd to explore
nickel in Nunavik comes as demand for the metal surges from use
in automotive batteries to power electric cars.  
    During the first phase, BHP will fund at 100% up to C$1.4
million ($1.06 million) on an annual basis for a minimum of two
years.  urn:newsml:reuters.com:*:nGNX3NdpSF
    Midland also said BHP may propose additional exploration
work for up to C$700,000 before advancing an identified project
to the second phase.
    
    
($1 = 1.3159 Canadian dollars)

 (Reporting by Arunima Kumar in Bengaluru; Editing by Sriraj
Kalluvila)
 ((Arunima.Kumar@thomsonreuters.com;))