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

Vale Base Metals Achieves Cobalt Production Milestone

Vale Base Metals, a prominent entity in the mining industry, has recently reached a significant milestone in cobalt production from its Voisey's Bay mine. The company proudly announced the successful completion of a cobalt throughput test, which occurred over a span of 90 days, showcasing an impressive average throughput rate of 93.7%. This achievement surpasses the minimum requirement set under the streaming agreement signed with Wheaton Precious Metals Corp. and Ecora Resources PLC, where Voisey's Bay was mandated to maintain an average throughput rate of at least 85% for an uninterrupted duration of 90 days.

Shaun Usmar, the Chief Executive Officer of Vale Base Metals, expressed his pride in this accomplishment. He remarked, "This is a significant success for Voisey's Bay, marking a pivotal point in our operations as we transition to underground mining, not only meeting but exceeding our projected production rate." Usmar also extended his gratitude to Roberto Damasceno, Pieter Loock, and the entire Voisey's Bay team for their dedication and hard work, attributing the achievement to their commitment.

The Voisey's Bay operation, which initially began as an open-pit mining project in 2005, underwent a multi-year expansion that concluded in late 2024. This transformation allowed the operation to shift to underground mining, ensuring its longevity as a vital contributor to the economic growth of Newfoundland and Labrador. With this upgrade, Voisey's Bay is set to remain a reliable supplier of low-carbon, high-quality nickel, copper, and cobalt for years to come.

As one of the largest producers of quality nickel and a significant source of responsibly sourced copper and cobalt worldwide, Vale Base Metals is headquartered in London, with its global operations center located in Toronto, Canada. The company operates additional facilities in Newfoundland and Labrador, Ontario, Manitoba, as well as international locations in Indonesia, Brazil, and Japan. Vale Base Metals is predominantly owned (90%) by Vale S.A., alongside a 10% stake held by the Manara Minerals Investment Company.

This achievement at Voisey's Bay not only highlights Vale's capabilities but also reflects its ongoing commitment to becoming a safe, reliable, and competitive operator in the mining sector. With a strong focus on sustainability and adherence to production goals, Vale Base Metals continues to solidify its reputation as a key player in the global metals industry. As the demand for cobalt and other metals grows, this success positions the company well to meet future challenges and support the transition to a low-carbon economy.