May 17, 2020

World Gold Council Adds Silver Wheaton Corp.

Silver Wheaton Corp.
World Gold Council
Vale S.A.
Hudbay
Admin
2 min
World Gold Council Adds Silver Wheaton Corp.
Silver Wheaton Corp. (SWC) recently became one of the newest members of the World Gold Council (WGC). Acceptance into this elite group was largely influ...

Silver Wheaton Corp. (SWC) recently became one of the newest members of the World Gold Council (WGC). Acceptance into this elite group was largely influenced by their ability to sustain their increase of current and future gold production levels. A large factor that has promoted this ability is the acquisitions of gold streams from Vale S.A. and Hudbay Minerals Inc. Another significant attribute that made SWC a winning choice for the WGC is their growing global mining assets and impressive portfolio diversification.

Silver Wheaton is the largest precious metals streaming company in the world. The company has a number of agreements where, in exchange for an upfront payment, it has the right to purchase all or a portion of the silver and/or gold production, at a low fixed cost, from high-quality mines located in politically stable regions around the globe.

The President and CEO of Silver Wheaton Corp., Randy Smallwood stated that they were very excited about joining the World Gold Council. The management was also looking forward to contributing to the principles of the Gold Council, which provides for industry leadership, as well as stimulating and sustaining the demand for gold worldwide.

World Gold Council Members

The World Gold Council currently consists of 20 members, priding itself on the embodiment of forward-thinking mining companies. The council is headquartered across the world and has mining operations in over 50 countries. The council’s members work together around the mission of promoting a sustainable gold mining industry, based on a deep understanding of gold’s role in society, now and in the future.

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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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