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

Vale Base Metals Achieves Milestone in Cobalt Testing

Vale Base Metals has proudly announced the successful completion of its cobalt performance test at the Voisey's Bay mine, which demonstrated an average performance rate of 93.7% over a consecutive 90-day period. This milestone not only signifies the effective operations of the mine but also represents a crucial requirement set forth in the agreement with Wheaton Precious Metals Corp. and Ecora Resources PLC.

Details of the Performance Test

The performance test was designed to validate the mine's operational efficiency, which needed to maintain at least 85% of its production capacity over the specified testing duration. As noted by Shaun Usmar, CEO of Vale Base Metals, this achievement underscores a successful transition from open-pit mining to underground mining operations. The results indicate that Voisey's Bay is not merely meeting its production targets, but actually exceeding them.

Usmar expressed gratitude to Roberto Damasceno, Pieter Loock, and the entire Voisey's Bay team for their dedication and hard work in reaching this milestone. He emphasized that this accomplishment further solidifies Vale Base Metals’ commitment to becoming a safer, more reliable, and cost-competitive operator in the mining industry.

Historical Context: Transitioning to Underground Mining

Voisey's Bay commenced operations in 2005 as an open-pit mine, and in late 2024, the operation underwent a significant multi-year expansion transforming into underground mining. This transition is pivotal in ensuring that Voisey's Bay continues to be a major economic driver for Newfoundland and Labrador. The mine is set to provide high-quality, low-carbon nickel, copper, and cobalt for many years to come, reflecting Vale's dedication to sustainable development and responsible mining practices.

About Vale Base Metals

Vale Base Metals is recognized globally as one of the largest producers of high-quality nickel and holds a significant position in the production of responsible copper and cobalt. With its headquarters in London, UK, and global operations centered in Toronto, Canada, Vale Base Metals functions in various regions, including Newfoundland and Labrador, Ontario, Manitoba, Brazil, Indonesia, and Japan. Vale S.A. maintains a 90% ownership stake in the company, with the remaining 10% held by Manara Minerals Investment Company.

This recent success signals a positive outlook for Vale Base Metals following its transformation strategy, reinforcing its role in the competitive landscape of metals production. As initiatives towards efficient mining practices and a reduced carbon footprint continue to evolve, the accomplishments at Voisey's Bay are a noteworthy example of these efforts in action.