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Stan Sudol sees synergies and cost savings if Glencore and Vale form mining joint venture in the Sudbury basin
Vale Base Metals chairman Mark Cutifani’s remarks this week to Reuters new agency about a pursuing a business combination between his company and Glencore in the Sudbury basin has mining analyst Stan Sudol wondering, “What took them so long?”
The Sudbury-raised and Toronto-based owner of the Republic of Mining website is a keen observer of the global nickel industry and of the Sudbury camp. Now is the “perfect time” for a business combination between Sudbury’s two largest miners, and one that’s long overdue, he said.
There have been on-again, off-again discussions since the former INCO and Falconbridge, and their predecessor companies, sparred over consolidating the Sudbury mining camp under one operating entity since the mid-2000s.
The competitive cross-town rivalry between the two companies is dead and the geopolitics of strategically placed critical minerals has entered the picture, Sudol said, not to mention the insatiable demand for the metals needed to feed the electric vehicle and clean-tech revolution.
Despite volatile prices in nickel and other critical minerals over the last few years, there remains a worldwide scramble by manufacturers of electric vehicles (EVs) and other digital and clean technologies to secure reliable, and preferably domestic, sources of mineral raw materials
For the rest of this article: https://www.northernontariobusiness.com/industry-news/mining/merger-talks-about-the-sudbury-mining-camp-long-overdue-says-industry-watcher-8100733