Voisey’s Bay mine expansion gets green light, N.L. premier announces – CP

by ahnationtalk on June 11, 201879 Views

Source: The Canadian Press
Jun 11, 2018 

ST. JOHN’S, N.L. _ Newfoundland and Labrador’s premier says Brazilian mining company Vale will proceed with construction of an underground mine at Voisey’s Bay, extending operations by at least 15 years.

Construction will begin this summer and Premier Dwight Ball says it will take approximately five years to complete.

Vale halted the expansion project in 2017 as it reviewed global operations when nickel prices dropped.

The mining operation in northeastern Labrador opened in 2005 and currently employs about 500 people.

More than half of the workforce in the remote area accessible by plane is Inuit or Innu, while more than 80 per cent of contracts are with Indigenous-owned and operated businesses.

Mining analysts say excess nickel inventory prompted global producers to be conservative about spending, but the long-term outlook is bright because of the metal’s use in electric car batteries and stainless steel.

INDEX: MINING BUSINESS ATLANTIC

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