Posted on 05 Dec 2024
Brazilian mining giant Vale forecasts that its nickel division will produce 160,000 tonnes this year, with an increase of 5,000 t expected in 2025. By 2030, the company aims to boost nickel output to 210,000-250,000 t, Kallanish reports.
The production increase will result from operational improvements at its main operational sites. This includes the completion and commissioning of the Voisey’s Bay Mine Expansion (VBME) project in Canada. This transition from open-pit to underground mining includes the Reid Brook and Eastern Deeps mines, which will supply ore to Vale’s Long Harbour refinery. The refinery is noted as one of the world’s lowest-emission nickel processing plants.
The VBME sites have a production capacity of approximately 45,000 t/y of nickel, along with by-products including 20,000 t/y of copper and 2,600 t/y of cobalt. The full ramp-up of these operations is scheduled for the second half of 2026.
Vale emphasises that this expansion is a pivotal step in enhancing the competitiveness of its Canadian operations. It is set to reduce unit costs in the nickel segment, from $15,900/t currently to a targeted $12,500–$14,000/t by 2030.
Source:Kallanish
