Vale Invests $149M In Canadian Nickel-Copper Mine, Projects 1.5 Million Tons Output By 2025
Portfolio Pulse from Stjepan Kalinic
Vale (NYSE:VALE) is investing $149 million in a new open-pit mine at the historic Stobie mine site in Sudbury, Ontario. The project aims to produce 1.5 million tons of nickel and copper by 2025, with initial production set at 300,000 tons this year. The project emphasizes sustainable and inclusive growth, involving local contractors and the United Steelworkers Union.
July 23, 2024 | 3:17 pm
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Vale is investing $149 million in a new open-pit mine in Sudbury, Ontario, aiming to produce 1.5 million tons of nickel and copper by 2025. The project will also yield valuable byproducts like cobalt and precious metals.
The significant investment and production targets indicate a strong growth potential for Vale's base metals segment. The involvement of local contractors and the United Steelworkers Union also suggests a focus on sustainable and inclusive growth, which could positively impact Vale's reputation and stock price.
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