May 17, 2020

Peru president wants stronger mining relations with China

Peru mining
China mining
mining investment
Pedro Pablo Ku
Dale Benton
1 min
Peru president wants stronger mining relations with China
The president of Peru has outlined plans to expand into mineral refining to rouse the countrys economic activity – by improving current trade rela...

The president of Peru has outlined plans to expand into mineral refining to rouse the country’s economic activity – by improving current trade relations with China.

Pedro Pablo Kuczykinski, the former investment banker turned President of Peru, has declared that the country needs to prioritise mineral extraction and trade relations with China.

“China is our number one trading partner and they are the ones who purchase our minerals,” Kuczynski said.

We are an economy with enormous natural resources, but we have to industrialise and that is no easy task. So, we will have to work with those who buy significant amounts of our exports, which means, to a large extent, China,”

As Peru’s largest mining investor, the total value of bilateral between Peru and China is believed to stand at around US$15billion.

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Jun 29, 2021

Vale invests $150mn to extend life of Manitoba operations

Vale
Nickel
Manitoba
battery metals
2 min
Vale’s $150mn investment in operations at Thompson, Manitoba will extend mine life by 10 years

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.

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