Can't miss: Week in review
No deal: South Africa gold union NUM rejects final pay offer
Theres no denying the worth of gold and miners in South Africa are demanding to be paid...
There’s no denying the worth of gold and miners in South Africa are demanding to be paid accordingly. The country’s largest union has rejected the latest -- and final -- pay offer pr...[read more]
While futuristic in nature, asteroid mining is becoming a real possibility and its financial payoff isn’t too shabby either. According to space mining start-up Planetary Resource , the...[read more]
General Electric is teaming up with Japanense resources and energy company Mitsui to explore new ways of driving mining operational costs down, signing a memorandum of understanding (MoU) e...[read more]
In today’s declining mining environment it’s not enough to be good--you have to be great. There’s simply no room for mediocrity. For mining companies to maintain high produc...[read more]
Equipment manufacturer Liebherr Mining is putting an end to its copycat lawsuit, reaching an agreement with a Chinese manufacturing group to officially settle the lawsuit once and for ...[read more]
Frugality is the name of the game in the mining industry right now and Rio Tinto is pulling out all the stops. The miner recently announced it was increasing its target savings from $750 million...[read more]
The World Gold Council ’s Gold Demand Trends report for Q2 2015 shows total demand was 915 tons, a fall of 12 percent compared to the same period last year, due mainly to a de...[read more]
Despite recent struggles in the mining sector, Latin America continues to be an important destination for mining investment, exploration, development and equipment manufacturing. During...[read more]
At last week’s Women in Mining Conference in Johannesburg, Mineral Resources Minister Advocate Ngoako Ramatlhodi addressed occupational challenges faced by women in the mining industry...[read more]
If demand for uranium were to ever flourish like it did for iron ore a few years back, Australia is well positioned to cash in. The industry remains relatively small c...[read more]
Vale invests $150mn to extend life of Manitoba operations
Vale has announced a $150mn CAD investment to extend current mining activities in Thompson, Manitoba by 10 years while aggressive exploration drilling of known orebodies holds the promise of mining well past 2040.
Global energy transition is boosting the market for nickel
The Thompson Mine Expansion is a two-phase project. The announcement represents Phase 1 and includes critical infrastructure such as new ventilation raises and fans, increased backfill capacity and additional power distribution. The changes are forecast to improve current production by 30%.
“This is the largest single investment we have made in our Thompson operations in the past two decades,” said Mark Travers, Executive Vice-President for Base Metals with Vale. “It is significant news for our employees, for the Thompson community and for the Province of Manitoba.
“The global movement to electric vehicles, renewable energies and carbon reduction has shone a welcome spotlight on nickel – positioning the metal we mine as a key contributor to a greener future and boosting world demand. We are proud that Thompson can be part of that future and part of the low carbon solution.”
Vale continues drilling program at Manitoba
Coupled with today’s announcement, Vale is continuing an extensive drilling program to further define known orebodies and search for new mineralization.
“This $150mn investment is just one part of our ambitious Thompson turnaround story. It is an indicator of our confidence in a long future for the Thompson operations,” added Dino Otranto, Chief Operating Officer for Vale’s North Atlantic Base Metals operations.
“Active collaboration between our design team, technical services, USW Local 6166, and our entire Thompson workforce has delivered a safe, efficient and fit-for-purpose plan that will enable us to extract the Thompson nickel resources for many years to come.”
The Thompson orebody was first discovered in 1956 by Vale (then known as Inco) following the adoption of new exploration technology and the largest exploration program to-date in the company’s history. Mining of the Thompson orebody began in 1961.
“We see the lighting of a path forward to a sustainable and prosperous future for Vale Base Metals in Manitoba,” said Gary Annett, General Manager of Vale’s Manitoba Operations.