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Vale Investing $1.7 Billion in Nickel Mine Amid Battery Boom

Rt Watson
Vale Investing $1.7 Billion in Nickel Mine Amid Battery Boom

The world’s biggest nickel producer is betting C$2.2 billion ($1.7 billion) that the metal has a bright future amid surging demand for battery commodities. With the Voisey’s Bay nickel complex in Canada getting toward the end of its open-pit life, Vale SA is moving ahead with a transition to underground operations, Newfoundland and Labrador Premier Dwight Ball said in as ceremony on Monday attended by Eduardo Bartolomeo, Vale’s head of base metals. The investment is expected to add at least 15 years to the mine and create 1,700 direct jobs, according to Ball.