VALE TO RE­BOOT LABRADOR MINE

Calgary Herald - - FP CALGARY -

Vale SA, the top com­mer­cial nickel pro­ducer, will re­sume op­er­a­tions next month at its Voisey’s Bay mine in Canada af­ter halt­ing work to mon­i­tor the coro­n­avirus out­break. Pro­duc­tion at the nickel-cobalt-cop­per mine in Labrador is ex­pected to restart early July and reach full ca­pac­ity by early Au­gust, the Rio de Janeiro-based com­pany said in a state­ment Thurs­day. Voisey’s Bay was placed on care and main­te­nance in mid-march as min­ers world­wide paused amid COVID-19 mea­sures. Its re­sump­tion comes as economies be­gin to re­open and prices of steel­mak­ing in­puts re­cover. The Voisey’s Bay restart may be more sig­nif­i­cant for the cop­per mar­ket than nickel. Vale con­tin­ued pro­cess­ing nickel dur­ing the shut­down but didn’t have enough stock­piles to keep sup­ply­ing cop­per, BMO an­a­lyst Ed­ward Sterck said in a re­port.

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.