#Canada #Vale Base Metals #Voisey's Bay #Nickel Production #Labrador

Vale Base Metals Completes Underground Mining Transition at Voisey's Bay

Vale Base Metals has marked an important milestone in the mining industry by completing the construction and commissioning of its $2.94 billion Voisey's Bay Mine Expansion Project located in Northern Labrador, Canada. This strategic transition from open-pit to underground mining is set to enhance nickel production to an impressive 45,000 tons per year (45 ktpy), a vital mineral for energy security, economic independence, and the global shift towards sustainable energy.

The expansion project involved the development of two underground mines, Reid Brook and Eastern Deeps, which will supply nickel concentrate to Vale's proprietary Long Harbour processing facility—recognized as one of the world’s lowest-emission nickel processing plants.

In addition to the increased nickel output, the project is expected to yield approximately 20 ktpy of copper and 2.6 ktpy of cobalt. Full operational capacity is anticipated by the latter half of 2026. These essential minerals are sourced from a stable regulatory framework with a long-standing history of mining operations, aimed at supplying global industries such as defense manufacturing, electric vehicle batteries, and clean energy infrastructure. Voisey's Bay plays a crucial role in supplying nickel to the United States, thus enhancing the competitiveness of Canadian mining businesses.

Shaun Usmar, CEO of Vale Base Metals, emphasized the successful completion of this project as not only a commitment to extracting the value of its resources but also a contribution to global markets for responsibly produced nickel. He stated, "Ensuring the economic benefits of Voisey's Bay remains a top priority for the company, and we take pride in collaborating with our Indigenous partners, the Innu Nation and the Nunatsiavut Government, whose traditional lands house the Voisey's Bay facility."

The expansion has significantly increased employment opportunities in the region, with the workforce at Voisey's Bay expanding from approximately 600 positions prior to the project to about 1,100. At the peak of the construction phase, the project employed around 3,400 direct and indirect workers. This substantial endeavor underscores Vale Base Metals' commitment to act as a catalyst for social and economic growth, which includes local job creation, procurement, capacity building, and partnerships with Indigenous communities to benefit all stakeholders involved.

Usmar extended his gratitude to the teams who contributed to the project's successful and safe execution, expressing pride in the ongoing creation of shared values for both the company and the people of Newfoundland and Labrador. Since commencing operations in 2005, Voisey's Bay has served as a significant driver of economic growth and will continue to provide low-carbon, high-purity nickel for many years to come.

About Vale Base Metals

Vale Base Metals is a division under Vale's Energy Transition Metals sector and stands as one of the largest producers of high-quality nickel globally, also producing copper and cobalt from responsible sources. With its headquarters in Toronto, Canada, and operations across Newfoundland and Labrador, Ontario, Manitoba, and internationally in Indonesia, Brazil, the UK, and Japan, Vale Base Metals supplies crucial components for a cleaner, greener future.