Vale, Glencore to explore $2bn joint copper development in Sudbury
Vale Base Metals (VBM) and Glencore Canada have signed an agreement to evaluate a potential $1.6-billion to $2-billion brownfield copper project that will combine deposits on their neighbouring properties in the Sudbury basin, paving the way for what could become one of the region’s most significant new copper developments in decades.
Under the framework agreement, the companies will study whether they can jointly mine their underground copper deposits by using existing infrastructure at Glencore’s idled Nickel Rim South mine, including deepening the current shaft and driving new drifts to reach ore bodies on both sides of the property boundary.
The proposed project could deliver about 880 000 t of copper over 21 years, alongside nickel, cobalt, gold and platinum-group metals typical of Sudbury’s polymetallic geology.
Engineering, permitting and consultation work is planned for 2026, with a final investment decision targeted in the first half of 2027.
“Opportunities to partner and unlock synergistic value between neighbouring miners in the Sudbury basin have been pursued for decades, without meaningful success,” Vale Base Metals CEO Shaun Usmar said. “I'm grateful for the commitment shown by both Glencore and our VBM team for coming together to finally unlock this historic opportunity by demonstrating a new collaborative way of working.
“The contemplated partnership paves the way to extract valuable copper-rich orebodies for our respective operations that would otherwise be lost to both companies,” he added, saying the plan could secure benefits for local communities and deliver earlier critical mineral supply for Canada’s economy.
If the study phase is successful, Vale Base Metals and Glencore intend to form a 50:50 joint venture to advance the project.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.
VISIT SHOWROOM
Flatproofing tire technology engineered to perform in extreme mining environments.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
