Providing high-quality products and mining solutions for customers
Vale Base Metals will form a consortium to invest 200 million U.S. dollars in the Thompson Mine project.
所属分类：
Release time：2026-02-27
source：
author：
Exiro Nickel Company will be comprised of Exiro Minerals, Orion Resource Partners, CGF, and VBM.
Vale Base Metals (VBM) will join forces with three companies to form a consortium that will invest up to US$200 million (CAD 273.86 million) in the Thompson mining district in Manitoba, Canada. This initiative aims to secure the future of nickel mining and ensure job stability in the region. The new entity, Exiro Nickel Company, will be jointly owned by Exiro Minerals, Orion Resource Partners, the Canadian Growth Fund (CGF), and VBM. Exiro, Orion, and CGF will hold an 81.1% stake in Exiro Nickel Company, while VBM will retain a 18.9% stake. VBM has also secured a take-or-pay agreement for the nickel concentrate produced at the Thompson mill. The transaction is expected to close by the end of 2026, though it remains subject to regulatory and government approvals. VBM initiated a strategic review of its Thompson operations in January 2025, and the review is expected to be completed if certain conditions are met. Until then, the company will continue to manage the day-to-day operations of the mine.
Shastri Ramnath, CEO of Exiro Nickel, stated: “This transaction marks the establishment of a new Canadian nickel company. We’re thrilled to have partnered with Vale Base Metals to complete this acquisition, and we welcome them as shareholders and look forward to collaborating with Thompson’s highly skilled workforce.” “We’re excited to develop the Thompson nickel mine into a long-lived, generational asset.” Exiro Nickel said it will operate the Thompson mine site in a safe and sustainable manner, fully respecting all agreements with local stakeholders and Indigenous communities. The consortium views this investment as a critical step for the company—and for those who rely on its success—toward a competitive and sustainable future. The Thompson Mining Complex comprises two underground mines, an adjacent processing plant, and extensive exploration potential along the 135-kilometer-long Thompson Nickel Belt. In 2025, the complex supplied VBM with 12,000 tonnes of refined nickel, representing a 21.2% increase over the previous year’s production. In December 2025, VBM and Glencore Canada reached an agreement to jointly evaluate a potential brownfield copper mining project on adjacent properties within the Sudbury Basin in Ontario.
Related Documents
RELATED INFORMATION
- All
- Product Management
- News
- Introduction
- Enterprise outlets
- FAQ
- Enterprise Video
- Enterprise Atlas
Enter your needs and search for more solutions!
E-mail: mgjx@gzxcmg.com
Telephone: +86 18785773080
Address: No. 2213, Building 2, Huaguoyuan International Financial Street, Nanming District, Guiyang City, Guizhou Province
Focus on us
Copyright © Guizhou Mige Machinery Equipment Co., Ltd 2025 (gzxcmg.com) All Rights Reserved. Website Construction:China Enterprise Power Guiyang
- All
- Product Management
- News
- Introduction
- Enterprise outlets
- FAQ
- Enterprise Video
- Enterprise Atlas
Key words: mining machinery |Mining Equipment