Vale Base Metals considering selling its mining and exploration assets in Thompson, Manitoba – by John Barker (Soundings – January 23, 2025)

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Vale Base Metals said Jan. 23 it is considering selling its mining and exploration assets in Thompson, Manitoba. Vale Base Metals is the Canadian Toronto-based subsidiary of Vale SA. Vale Base Metals has launched a strategic review of its options for its Thompson assets, include two mines and an adjacent mill along with other exploration opportunities, Vale said.

The strategic review is expected to be completed later this year, the company said. The strategic review is part of a process to optimize Vale’s global portfolio to enable copper growth in the Carajas region in Brazil. Vale Base Metals has engaged an external advisor to lead the Thompson strategic review.

Birchtree Mine, which began production in Thompson in 1966, closed in 2017, going on “care and maintenance.” Care and maintenance is a term used in the mining industry to describe processes and conditions on a closed minesite where there is potential to recommence operations at a later date. During a care and maintenance phase, production is stopped but the site is managed to ensure it remains in a safe and stable condition.

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