NICKEL & POTASH: Vale to close Thompson smelter, stalls Kronau project

MANITOBA and SASKATCHEWAN – Vale, the Brazilian miner that paid US$19 billion for Inco in 2007, has announced the closing of its nickel smelter and refinery in Thompson, MB, in 2018. Mining and mineral processing will continue, but concentrates will be shipped offsite for further treatment. The company said that it will complete the feasibility study for the Footwall Deep underground mine next year, but no further work will be done on it until nickel prices improve. Vale also announced last week that its potash project at Kronau, SK, is on hold. Construction on the US$3.5 billion mine and facilities was to have started next year and would eventually create 350 permanent jobs. The company said low prices are to blame for the delay. The Vale website is available in English or Portuguese at Vale.com.