Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Vale will resume operations at its Voisey’s Bay mine in Labrador, Canada in July after almost four months of being under planned maintenance because of the COVID-19 crisis.


The Brazilian miner and steel maker said in a statement on Thursday that the mine’s output will reach full capacity by early August.


The facility, which produces nickel and copper, will also resume its activities related to the Voisey’s Bay mine expansion project next month. Construction of Voisey’s Bay mine expansion project began in 2016 and will complete by 2022​. 


The mine has been producing nickel since 2005 and is expected to continue its open-pit operations until 2021.​​​​​​​​​​​​​​ However, the expansion project and underground mining operations will extend the life of Voisey’s Bay until 2032. The underground mines will produce about 40,000mt of nickel-in-concentrate per year, according to Vale.


The company has revised its production guidance for 2020 to 310-330mn mt of iron ore fines,35.40mn mt pellets, and 360,000-380,000mt of copper. Its nickel production, excluding Vale New Caledonia, is expected to reach 180,000-195,000mt.


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