nickel mining – Republic of Mining

Fred Stanford, President, Vale Inco Ontario Operations • Thank you, and good afternoon everyone. It’s been a little while since I spoke to the Chamber, so it’s a pleasure to be here.

• Actually it’s been almost a year to the day since Murilo Ferreira, Vale Inco’s President and CEO, first came to Sudbury to speak to this audience. This was shortly after CVRD completed its acquisition of Inco.

• The theme of his speech was “Together, We are Better” – and I’m sure some of you may have been skeptical.

• He also said the acquisition wouldn’t change things much in Sudbury…but I might argue – since then, things have changed…and for the better.

• What an incredible year we just had at our Sudbury operations:

Stan Sudol - Executive Speech Writer and Mining Columnist With such turmoil on global stock exchanges, one might wonder if Xstrata CEO Mick Davis and Vale CEO Roger Agnelli are trying to perform their proposed merger/takeover – difficult enough at the best of times – on the deck of a financial Titanic.

On Monday, many stock exchanges around the world witnessed the worst single day decline since the terrorist attacks of September 11, 2001. The TSX saw $90 billion evaporate while European exchanges wiped out $300 billion. In total, trillions of dollars in investment value were lost. The U.S. exchanges were closed for a holiday.

The “American contagion” as many are calling this stock market slaughter – due to the U.S. subprime mortgage fiasco and collapsing property values – continued Tuesday morning around the world including American exchanges.

Vale Inco, President, Ontario Operations – Sudbury Speech – Fred Stanford

Another Rumble in the Nickel Jungle? -Stan Sudol