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Vale Base Metals chairman speaks to the Goodman School of Mining about sustainability and caring during difficult times for nickel miners
Lower nickel prices and ore that is harder to get at mean mine companies operating in Sudbury will have to be smarter and more innovative as they plan for the future, the chairman of Vale Base Metals says.
Mark Cutifani made the observations during a talk last week at the Goodman School of Mines Lecture in the Cliff Fielding Innovation Space in Sudbury. “It is a tough time for nickel,” Cutifani told the audience. Because of Indonesian nickel, he said the industry will not see a significant increase in nickel prices before 2030.
Indonesia has flooded the world with more metal than it can absorb, crushing the price and leaving a trail of casualties among the rest of the world’s producers, Reuters reported earlier this year. At the same time, Indonesia is looking to cut nickel production, which should bolster its price. Nickel is the key mineral mined by Vale and Glencore at their Sudbury operations.
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