Vale Base Metals Completes Transaction to Establish New Ownership of Thompson Mine Complex
The deal gives Exiro Nickel up to US$200 million in new capital and leaves Vale Base Metals with an 18.9% minority stake and offtake agreement.
- On October 16, 2026, Exiro Nickel Company Inc. finalized its acquisition of the Thompson Operations from Vale Base Metals, backed by US$200 million in new capital for the Manitoba mining complex.
- Vale Base Metals launched a strategic review of the Thompson Operations in January 2025, concluding with this shift toward dedicated ownership for the mine complex operating for more than 60 years.
- Canada Growth Fund Inc. committed up to US$85 million as a consortium including Exiro Minerals Corp. and Orion Resource Partners LP now holds 81.1% interest in Exiro Nickel.
- Vale Base Metals retains an 18.9% interest and multi-year offtake agreement for nickel concentrate, while Exiro Nickel assumes day-to-day operational responsibility for the Thompson Mine Complex.
- The company targets production ramp-up toward 2.0 Mt capacity within five years and will present its vision at CCMEC 2026 in Winnipeg on November 23.
23 Articles
23 Articles
Exiro Nickel became the controller and operator of the Thompson mineral complex in the province of Manitoba, Canada, with the conclusion of the operation with Vale Base Metals (VBM), a subsidiary of the Vale aimed at basic minerals. The information was disclosed by the mining company in a statement to the market on Friday (16). Under the agreement announced by the Vale in February, the Canadian company Exiro Minerals, the American investment fun…
The Toronto Star
Exiro Nickel Completes Acquisition of Thompson Operations, Launches New Chapter for Northern Manitoba Mining
THOMPSON, Manitoba, Oct. 16, 2026 (GLOBE NEWSWIRE) -- Exiro Nickel Company Inc. (“Exiro Nickel”) is pleased to confirm the closing of its previously announced acquisition (the “Transaction”) of the Thompson Operations from Vale Base Metals (“VBM”), marking the beginning of…
Daily Journal
Vale Base Metals completes transaction to establish new ownership of Thompson Mine Complex
Transaction marks new chapter for Thompson, backed by US$200 million (approximately CAD$280 million) in new investment
Coverage Details
Bias Distribution
- 50% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
