The underground mines at Voisey’s Bay will expand the life of project to 2034. Credit: Vale SA
Vale’s (NYSE: VALE) Canada operations led its second-quarter performance with a 44% rise in nickel output at Voisey’s Bay in Labrador and higher output at its Sudbury operations.
Nickel sales drove base metals revenues to $1 billion, a 15% rise, as copper revenues climbed 23% to $958 million.
“We delivered another strong quarter, reflecting our focus on operational excellence and disciplined execution, keeping us on track to meet our 2025 guidance,” CEO Gustavo Pimenta said on a Friday conference call with financial analysts.
The executive attributed the strong performance at Voisey’s Bay to Shaun Usmar, who has been the CEO of Vale Base Metals for a year and was previously with Triple Flag Precious Metals (TSX, NYSE: TFPM). Usmar also led an asset review initiative in Vale’s Base Metals…
