Yesterday, Vale announced a $150 million investment to extend current mining activities in Thompson by 10 years.

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. Current production is predicted to increase by 30 per cent because of the improvements.

Mark Travers, Executive Vice-President for Base Metals with Vale said - quote - “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.”

Coupled with the announcement, Vale is continuing an extensive drilling program to further define known ore bodies and search for new mineralization holds the promise of mining well past 2040.

Dino Otranto, Chief Operating Officer for Vale’s North Atlantic Base Metals operations said - quote - “This 150 million dollar 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.”