#Canada #Toronto #Vale Base Metals #Voisey's Bay #Cobalt

Vale Base Metals Achieves a Major Milestone with Cobalt Throughput Test

Vale Base Metals has shared exciting news following the successful completion of a cobalt throughput test at their Voisey's Bay mine. The test, crucial to validate the operation's compliance with the terms of the streaming agreement with Wheaton Precious Metals Corp. and Ecora Resources PLC, recorded an impressive average throughput rate of 93.7% over a span of 90 consecutive days. This achievement surpasses the minimum requirement of 85% stipulated by the agreement, marking a significant success for the company.

Importance of the Achievement

The Chief Executive Officer of Vale Base Metals, Shaun Usmar, expressed his enthusiasm, stating, “This is a meaningful achievement for Voisey's Bay.” The successful transition from open-pit to underground mining operations has not only validated the facility's planned production rate but has shown it to be outperforming expectations. Usmar praised the dedicated efforts of the entire Voisey's Bay team, particularly acknowledging Roberto Damasceno and Pieter Loock for their hard work, which contributed to reaching this important milestone.

Transitioning to Underground Mining

Voisey's Bay began production in 2005 as an open-pit mine. In late 2024, after completing a multi-year expansion, the mine transitioned to underground mining. This strategic move aims to ensure that Voisey's Bay continues to serve as a vital engine of economic growth for Newfoundland and Labrador while providing a source of low-carbon, high-quality nickel, copper, and cobalt for years to come.

With underground operations now fully functioning, Vale Base Metals demonstrates its commitment to sustainable mining practices and reliable production capabilities.

Vale Base Metals Overview

Vale Base Metals stands among the world’s leading producers of high-quality nickel and is renowned for its responsibly sourced copper and cobalt. The company is headquartered in London, United Kingdom, with its global operations center in Toronto, Canada. Additionally, Vale Base Metals maintains an extensive operation footprint, encompassing regions like Newfoundland and Labrador, Ontario, Manitoba, Indonesia, Brazil, and Japan. Currently, the ownership structure reveals that Vale S.A. holds a 90% stake in the company, while the remaining 10% is owned by Manara Minerals Investment Company.

Looking Ahead

Vale Base Metals continues to pave the way for sustainable mining practices and aims to enhance its operational efficiency. The positive results from the cobalt throughput test at Voisey's Bay reflect the company’s ability to adapt and innovate, setting a standard in the mining sector for responsible and productive practices. This achievement not only underscores Vale's operational capabilities but also bolsters its standing in the global market as a pioneer in sustainable mining.

As the world increasingly turns to high-quality, ethically sourced materials, Vale Base Metals is positioned to meet growing demand as it solidifies its role in shaping a greener future for the industry.