ONTARIO - VALE INCO, a subsidiary of the Brazilian mining conglomerate COMPANHIA VALE DO RIO DOCE, intends to spend $132 million to develop the 170 orebody at its Coleman nickel-copper mine near Sudbury.
The 170 orebody lies below the 5200 level and lower than the currently developed area at Coleman. The project will include 3,650 metres of lateral development to access 2.0 million tonnes of ore. The orebody should provide 10 years of production beginning in 2012.
In a recent conversation with Vale Inco executives, CMJ editor Jane Werniuk learned that the company's exploration budget in the Sudbury Basin is $49 million, up from its low of $8 million a year.
The Vale Inco website is at www.Inco.com.