HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"
NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)
Message: Voisey's Bay mine expansion gets green light
Deeper in Sudbury, expanding Voisey....lets get moving on the new kid in town...
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Voisey's Bay mine expansion gets green light: N.L. premier
, The Canadian Press
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Newfoundland and Labrador Premier Dwight Ball. , THE CANADIAN PRESS/Justin Tang
Vale (VALE.N)
13.75 0.00 (0.00%)
As of: 06/11/18 9:38:23 am
(delayed at least 15 minutes)
(delayed at least 15 minutes)
Chart Type - 1year
ST. JOHN'S, N.L. - Newfoundland and Labrador's premier says Brazilian mining company Vale will proceed with construction of an underground mine at Voisey's Bay, extending operations by at least 15 years.
Construction will begin this summer and Premier Dwight Ball says it will take approximately five years to complete.
Vale halted the expansion project in 2017 as it reviewed global operations when nickel prices dropped.
The mining operation in northeastern Labrador opened in 2005 and currently employs about 500 people.
More than half of the workforce in the remote area accessible by plane is Inuit or Innu, while more than 80 per cent of contracts are with Indigenous-owned and operated businesses.
Mining analysts say excess nickel inventory prompted global producers to be conservative about spending, but the long-term outlook is bright because of the metal's use in electric car batteries and stainless steel.
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