Vale is planning on growing mining in Thompson.
The Head of Vale Operations in Manitoba, Gary Eyres, announced that Vale has plans to invest $1 billion in the city's mining operation from now until 2023.
The announcement was made during the Nov. 13 Thompson Chamber of Commerce meeting.
Eyres explains that Vale plans to expand their deep ore bodies to two different extensions, which would add another 25 to 30 years of mining in their underground ore bodies.
He also talked about the potential economic gains that the investment could bring to Thompson.
"With the $1 billion investment that we're talking about over the next five years, we're talking about the difference in the economic benefit of around $7.9 billion."
Eyres adds that the emergence and high investment in electric vehicles over the next few years will also mean a greater demand of high-grade nickel, which he says Thompson produces a high quantity of.