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

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

Vale Base Metals has made a significant milestone by successfully completing the construction and commissioning of the $2.94 billion expansion project at its Voisey's Bay mine located in northern Labrador, Canada. This crucial development marks a shift from open-pit to underground mining, allowing the company to increase its nickel production capacity to an impressive 45,000 tons per year (ktpy), alongside generating an additional 20 ktpy of copper and 2.6 ktpy of cobalt.

The expansion project involved establishing two underground mines, Reid Brook and Eastern Deeps, which will provide concentrate for processing at the Long Harbour facility. This processing plant stands out as one of the world's lowest-emission nickel facilities, highlighting Vale's commitment to environmental sustainability. With the rising demand for battery-grade nickel essential for electric vehicles and clean energy infrastructure, this project aligns perfectly with global market trends aimed at energy transition and technological advancement.

Impact on Local Economy and Employment

The completion of the project has not only augmented production capacity but has also positively impacted the local economy. The workforce at Voisey's Bay has increased significantly, with direct employment rising from 600 to 1,100 employees. During the peak construction phase, about 3,400 jobs—direct and indirect—were created, showcasing the project's potential to stimulate economic growth in the region.

Shaun Usmar, CEO of Vale Base Metals, emphasized the company's dedication to responsible mineral production and ensuring local economic benefits. The ongoing collaboration with indigenous partners, such as the Innu Nation and Nunatsiavut Government, signifies a commitment to maintain strong community ties and share the benefits derived from local resources. Usmar stated, "The successful completion of the Voisey's Bay expansion underlines our pledge to unlock the value of our assets and deliver responsibly produced nickel to global markets."

Future Prospects

Looking ahead, Vale Base Metals anticipates that this project will reach its full operational capacity by the latter part of 2026. With a stable jurisdiction that has a long-standing support history for mining activities, Voisey's Bay is poised to be a critical player in the global supply chain of essential minerals. These minerals will fulfill industrial needs not just within Canada but across the world, particularly in sectors like defense manufacturing and electric vehicle battery production.

The Voisey's Bay project has been operational since 2005, and its recent expansion highlights its role as a vital economic driver for the province of Newfoundland and Labrador. The mine is expected to continue producing high-purity, low-carbon nickel for many years to come, further solidifying its position as a key supplier to the United States, and reinforcing Vale's reputation as a leader in the mining sector.

Vale Base Metals is recognized for its position as one of the world’s largest producers of high-quality nickel, and a substantial supplier of responsibly sourced copper and cobalt. With corporate headquarters in Toronto, Canada, and operations extending across Newfoundland and Labrador, Ontario, Manitoba, Brazil, Indonesia, the United Kingdom, and Japan, the company is committed to providing the foundational metals needed for a sustainable and clean future.

In summary, the successful transition at Voisey’s Bay not only showcases Vale Base Metals' capacity for innovation and sustainable practices but also emphasizes its crucial role in supporting economic development and the energy transition on a global scale.