Vale to invest $500mln in New Caledonia nickel operations - Schvartsman

摘要

Brazilian miner Vale will be investing an additional $500 million in VNC, its nickel operations in the South Pacific country of New Caledonia on expectations of increased demand from rising electric vehicle (EV) output, chief executive officer Fabio Schvartsman said on Tuesday December 4.The executive also announced during the annual investor presentation in the New York Stock Exchange an agreement with Glencore to explore two deposits in Sudbury, Canada. This deal includes Victor orebody, owned by Vale, and Glencore’s Nickel Rim South, he added.