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Vale’s director of Ontario Operations speaks to a Greater Sudbury Chamber of Commerce luncheon
Sudbury has another hundred years of good mining left in its ore bodies but it will have to work to remain competitive in a difficult market for nickel, Vale’s director of Ontario Operations says. Gord Gilpin told the Greater Sudbury Chamber of Commerce this week that Indonesia has flooded the world market with nickel, depressing the price of the mineral.
Gilpin made a parallel to the turbulent 1970s and 80s. “They (Indonesia) are the OPEC of nickel. They will set prices. We do expect it to balance out but in the short term, there is a surplus that is why pricing is under pressure.”
The OPEC reference referred to a time when a few oil-producing countries could manipulate the supply and price of oil. Rick Cousineau of OCP Construction Supplies & Cousineau Concrete Pumping asked specifically about Indonesia as a nickel producer. “I want to know more about how they have become such key player,” Cousineau said.
For the rest of this article: https://www.thesudburystar.com/news/lots-of-mining-left-in-sudbury-but-there-are-challenges-gord-gilpin