Brazilian Nickel, a company engaged in developing nickel and cobalt products, has received a letter of interest for a US$550 million loan from the US International Development Finance Corporation (DFC) for the further development and operation at its Piauí Nickel Project (PNP) in Brazil, representing nearly 40% of the project’s overall financing package.

This advanced-staged nickel laterite project, located in the Piauí state, uses cost-effective heap leaching technology, giving Brazilian Nickel a competitive advantage.

With annual production targets of 27,000 tons of nickel and 900 tons of cobalt in the first ten years of operation, Brazilian Nickel aims to support the EV supply chain with sustainable, non-PRC-controlled critical minerals.