TORONTO, Oct. 1, 2024 /CNW/ - Wyloo and Metalshub have entered into a Memorandum of Understanding (MoU) to improve transparency of the carbon dioxide (CO2) footprint, Environmental, Social and Governance (ESG) credentials, pricing and provenance in international nickel markets.

Wyloo intends to use Metalshub for the sale of its low-carbon nickel and nickel concentrate products following a re-start of its Kambalda, Western Australia nickel operations. The collaboration also aims to develop a price index for low-carbon nickel concentrate and nickel sulphate, to be referenced in future sales contracts.

Wyloo CEO, Luca Giacovazzi, said the collaboration would set a new global standard for sustainably produced nickel products and enable greater transparency of low carbon nickel pricing.

"The Metalshub platform will enable nickel producers to provide provenance, carbon footprint and ESG information to customers, in an auditable form, leading to qualification under key market regulations such as the USA's Inflation Reduction Act or the European Union's Carbon Border Adjustment Mechanism and Battery Regulation," he said.

"If we want car manufacturers to effectively manage their scope three emissions, and to empower consumers to choose electric vehicles that are truly good for the environment, the industry must adopt transparent emission reporting across the supply chain."

Metalshub Co-Founder and Managing Director, Dr. Sebastian Kreft, said the transparency would give nickel producers an opportunity to market their products with a premium.

"Nickel has become an important focus of the energy transition as the world moves away from fossil fuels to renewable energy and the electrification of transport. Today, most nickel is used for producing stainless steel, but the fastest growing application is lithium-ion batteries used in electric vehicles," he said.

"But nickel mining and processing presents significant ESG concerns relating to greenhouse gas emissions, air, soil and water pollution, the destruction of ecosystems, indigenous rights, energy use and working conditions.

"Our platform will enable mining companies and manufacturers buying metals to demonstrate that they are addressing these concerns and meeting the needs of the green energy transition in an ethical and sustainable way. It is also another milestone on our joint journey together with the LME to provide producers and consumers access to our software platform to discover "green" nickel premiums.

"We are excited to increase transparency around ESG credentials and CO2 footprint - the gained transparency will give producers an opportunity to market their products with a premium."

About Wyloo

Wyloo delivers and invests in the critical minerals and materials needed to decarbonise the world. Wyloo's integrated nickel business includes strategic investments in three of the highest-grade nickel sulphide belts in the world in Kambalda, Western Australia, the Ring of Fire region in northern Ontario and the Cape Smith belt in Quebec. Wyloo owns two nickel mines in Kambalda and is planning Australia's first Integrated Battery Materials Facility producing precursor cathode active material (pCAM) in Kwinana, Western Australia. It is also progressing projects to develop one of the world's best nickel, copper and platinum group element mines, Eagle's Nest, and world-class chromite deposits, Blackbird, in Ontario's Ring of Fire region, as well as a facility producing pCAM in Sudbury, Ontario. Across its active mines and development projects, Wyloo is working to deliver sustainable production of green nickel in partnership with First Nation communities. Wyloo is privately-owned by Tattarang.

About Metalshub

Metalshub is a leading software provider for the metals and mining industry. By leveraging advanced technology and market expertise, Metalshub provides software solutions for buyers and sellers to connect, negotiate, and close transactions. With its innovative solutions, Metalshub empowers businesses to optimise supply chains, make informed decisions, and drive growth in the digital era. Its software enables sellers to provide provenance, carbon footprint and ESG information to its customers in an auditable form, leading to qualification for key target market regulations.

Disclaimer

Some of the statements in this press release may be forward looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. Wyloo does not make any representation or warranty, express or implied, as to the accuracy, completeness or updated status of such statements. Therefore, in no case whatsoever will Wyloo and its affiliate companies be liable to anyone for any decision made or action taken in connection with the information and/or statements in this press release or for any related damages.

SOURCE Wyloo