Sudbury Basin Copper Joint Venture

planned

Vale Ltd. and Glencore have announced plans to work together to develop a brownfield copper project on adjacent properties in the Sudbury Basin. The project involves deepening Glencore's existing mine shaft and developing new drifts to access nearby copper deposits. It is estimated to produce 880 kilotons of copper over 21 years with a capital cost of about US$1.6 billion to US$2.0 billion. The project will also produce nickel, cobalt, gold, platinum group metals, and other critical minerals. Detailed engineering, permitting, and consultation work will occur in 2026, with a final investment decision expected in the first half of 2027.