Increased Production Target and Operational Improvements
Brazilian mining giant Vale has forecasted significant growth in its nickel production, projecting a rise of over 50% by 2030. The company expects to produce 160,000 tonnes of nickel this year, with a further increase of 5,000 tonnes anticipated by 2025. By 2030, Vale aims to boost its nickel output to between 210,000 and 250,000 tonnes. This growth will be driven by operational improvements at its key mining sites, including the expansion of the Voisey’s Bay Mine in Canada, which will contribute significantly to the increased production.

Expansion and Transition at Voisey’s Bay
The expansion of the Voisey’s Bay Mine (VBME) project includes a transition from open-pit mining to underground mining at the Reid Brook and Eastern Deeps mines. These mines will supply ore to Vale’s Long Harbour refinery, one of the world’s lowest-emission nickel processing plants. The VBME project will have a nickel production capacity of 45,000 tonnes per year, alongside by-products including 20,000 tonnes of copper and 2,600 tonnes of cobalt. The full ramp-up of the VBME operations is expected by the second half of 2026.

Cost Reduction Goals
Vale also emphasizes that the expansion is a crucial step in enhancing the competitiveness of its Canadian operations. The company aims to reduce its nickel unit costs from the current $15,900 per tonne to a target range of $12,500 to $14,000 per tonne by 2030. This reduction in costs is expected to improve the overall efficiency and profitability of Vale’s nickel operations as demand for the metal, crucial for electric vehicle batteries, continues to grow.

This ambitious expansion plan aligns with Vale’s strategy to strengthen its position in the global nickel market and meet the growing demand for green technologies.