Vale Base Metals sells majority stake in Thompson Nickel Belt to Canadian-led consortium
A Canadian-led consortium has bought a majority stake in Vale's Thompson Nickel Belt mine. The group will invest 200 million dollars to revive the operation.
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Vale Base Metals has announced an agreement to sell its majority stake in the Thompson Nickel Belt mine in Manitoba, Canada 
CA, to a consortium that will establish a new producer named Exiro Nickel. The consortium, comprising Exiro Minerals, Orion Resources Partners, and the Canada Growth Fund, has committed US$200 million to revive the mining operation. This transaction results in the creation of a new Canadian nickel producer and establishes a material capital and supply framework for a metal designated as a critical mineral by the federal government and G7 nations.
CA, to a consortium that will establish a new producer named Exiro Nickel. The consortium, comprising Exiro Minerals, Orion Resources Partners, and the Canada Growth Fund, has committed US$200 million to revive the mining operation. This transaction results in the creation of a new Canadian nickel producer and establishes a material capital and supply framework for a metal designated as a critical mineral by the federal government and G7 nations.Under the terms of the announced deal, Vale S.A. , the parent company headquartered in Brazil 
BR, will retain an 18.9% interest in the asset. Additionally, Vale has signed a five-year off-take agreement with Exiro Nickel, maintaining a long-term supply link between the seller and the new operator. The decision to divest the majority stake comes after Vale placed the Thompson Nickel Belt mine under strategic review last year, a move prompted by nickel prices reaching a five-year low amid shifting global supply from producers in China 
CN and Indonesia 
ID.
BR, will retain an 18.9% interest in the asset. Additionally, Vale has signed a five-year off-take agreement with Exiro Nickel, maintaining a long-term supply link between the seller and the new operator. The decision to divest the majority stake comes after Vale placed the Thompson Nickel Belt mine under strategic review last year, a move prompted by nickel prices reaching a five-year low amid shifting global supply from producers in China CN and Indonesia ID.
