OTD: INCO grants $2.5 million to Laurentian University

On today’s date in 1962, the International Nickel Company (INCO) granted $2.5 million to Sudbury, Ont.’s Laurentian University.

Given as part of the first fundraising campaign co-ordinated by the university, which was established two years prior, the donation was considered the single-largest corporate gift to an educational institution in Canada at the time. By November 1963, the school stood short of its goal of $9 million by only $84,000.

In 1951, a commemorative five-cent coin featuring a nickel refinery was struck to celebrate the 200th anniversary of the metal’s discovery by Swedish chemist Axel Cronstedt. The coin has a weight of 4.54 grams and a diameter of 21.3 mm (opposite corners) and 20.9 mm (opposite sides).

Canada is the among the world’s top producers of nickel—second only to Russia.

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