Mergers & Acquisitions ·
Vale Base Metals completes transaction to establish Exiro Nickel as owner of Thompson Mine Complex
VALEVale S.A.
Vale's subsidiary Vale Base Metals has completed the transaction to transfer ownership and operation of the Thompson Mine Complex in Manitoba to Exiro Nickel Company. Exiro Minerals Corp., Orion Resource Partners LP, and Canada Growth Fund Inc. collectively hold an 81.1% interest in Exiro Nickel, while Vale retains an 18.9% minority stake through Vale Canada Limited. The company has entered into a multi-year offtake agreement for nickel concentrate produced at the Thompson mill. All customary regulatory and government authorizations were received to finalize the deal. This transaction concludes Vale's strategic review of its Thompson operations and aligns with its strategy to manage its portfolio by enabling dedicated ownership and investment. Vale S.A. is a major global mining company producing iron ore, copper, nickel, and other base metals.