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Brazilian Mining Giant Reviews Options for Thompson Nickel Operations
Vale, the Brazilian multi-metals mining group, is evaluating a potential sale of its Thompson, Manitoba, nickel mining assets. The review includes two active mines, an adjacent milling facility, and exploration opportunities along the 135km-long Thompson Nickel Belt.
Strategic Portfolio Optimization and Copper Expansion
The company aims to streamline its mining portfolio while focusing on copper expanding production at its Carajás operations in Brazil. Additionally, Vale seeks to enhance the competitiveness of its vertically integrated nickel division by reallocating resources.
External Review and Nickel Production Growth
Vale has appointed an external advisor to oversee the review, which will conclude in H2 2025. The Thompson site produced 3,100 metric tons of nickel in Q3 2024, reflecting a 1,100-ton year-on-year increase, driven by improved Long Harbor refinery availability in Canada.
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