Vale Mining Invests in Largest Port in Brazil
Vale is Brazil’s premier mining company, and is currently a worldwide leader in iron ore exports. As such, the company has acknowledged the need for a new export port in northern Brazil, and is investing a reported $2.9 billion into the construction of the Ponta da Madeira terminal. The terminal will become the country’s largest port by volume.
The terminal will be located near the port of Itaqui in northern Brazil’s Maranhao state, which has seen a boom in business in recent years, particularly in food and iron ore exports.
The global rise in commodities prices has bolstered a healthy trade surplus in Brazil, poising the country for increased exports.
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Upon completion, the Ponta da Madeira port will have a 150 million ton capacity, which is still only half the 300 million tons-per-year total volume of iron ore exports.
"We don't stop investing and innovating. Vale's investments in infrastructure are the biggest ever made in the country, resulting in efficient logistics for our customers," said Vale's integrated operations Executive Director Eduardo Bartolomeo.
Vale has invested approximately $9 billion in infrastructure development throughout Brazil over the last six years, and is planning to invest an added $5 billion on railroad links to the new port.
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.