Vale is spending $150 million on the first phase of the Thompson mine extension project, which will extend current mining activities by 10 years, the company announced June 29.
“Aggressive” exploration drilling of known orebodies is also continuing, which could mean ore extraction could continue well past 2040, Vale says.
Work to be completed during the first phase of the project includes construction of new ventilation raises and fans, increasing backfill capacity and adding power distribution infrastructure. Vale expects the changes to improve current production levels by 30 per cent.
“We see the lighting of a path forward to a sustainable and prosperous future for Vale Base Metals in Manitoba,” said Gary Annett, who recently took over from Franco Cazzola as general manager of Vale’s Manitoba Operations and is speaking to the Thompson Chamber of Commerce June 30.
Vale previously committed $23 million towards diamond drilling to determine the precise extent of the footwall deep and hanging wall ore body, Cazzola told the chamber in February. Some of that money was also used to build a road out to where a new ventilation raise will go