Vale (NYSE: VALE) subsidiary Vale Base Metals announced Thursday it has launched a strategic review to explore and evaluate alternatives that include the potential sale of its mining and exploration assets in Thompson, Manitoba.  

The Thompson review is part of a process to optimize Vale Base Metals’ asset base, ensuring the competitiveness of its vertically integrated nickel portfolio, and is expected to conclude in the second half of 2025, the company said in Thursday’s news release.  

Operations within the Thompson Nickel Belt have been producing nickel since 1956.  

The Thompson orebody was first discovered the same year by Vale, which was then known as Inco, following the adoption of new exploration technology and the largest exploration program to date in the company’s history. Mining began in 1961. 

The assets include two operating underground mines, an adjacent mill and significant exploration opportunities on the 135-km long Thompson Nickel Belt.  

Thompson produced 10.5 thousand metric tons of Vale Base Metals’ finished nickel production for the 12-month period ending Q3 2024.  

In 2021, Vale announced it was investing C$150 million ($122 million) to extend its mining activities in the Canadian province by ten years. 

Source: MINING.COM – Read More