The news service Reuters is reporting that the long dreamed of merger of Vale and Glencore mining assets in Sudbury basin could happen this year. “Talks for a Sudbury tie-up have been on and off since 2006, when annual savings were put at more than $500 million, with a number of options being touted for the mining and processing operations in the area,” the Reuters story said(opens in a new tab).
Brazil-based Vale purchased the former Inco for $19.6 billion in 2006. Talk of combining efforts in the area have surfaced from time to time, and an official with the company raised the issue recently, according to the Reuters story.
“We’ve got some interesting thoughts on what is possible, (including) tailings (waste) and some of the old areas that could be redone and we are working through that,” VBM Chairman Mark Cutifani told Reuters in an interview on the sidelines of the Future Minerals Forum (FMF) mining gathering in Riyadh.
“During the course of this year we should work out whether there’s something we can do together or not. Certainly that is one of my priorities.” In an email to CTV News on Thursday, a Vale Base Metals spokesperson confirmed the company’s interest.
For the rest of this article: https://northernontario.ctvnews.ca/new-push-to-combine-glencore-vale-mining-assets-in-the-sudbury-basin-1.6722360