US EditionVale, Glencore Agree to $2B Joint Venture Copper Project
The joint venture aims to produce 880,000 metric tons of copper and critical minerals over 21 years with a capital investment of up to $2 billion, responding to rising demand.
- Vale Base Metals announced that it signed a deal with Glencore Canada to jointly evaluate a brownfield copper project in the Sudbury Basin, aiming to boost copper amid rising demand.
- Amid rising copper demand from electrification and AI, miners are teaming up to contain costs as Vale plans to increase capacity following the final investment decision in the first half of 2027.
- With estimated capital costs of about US$1.6 billion to US$2 billion, the plan calls for using and possibly deepening Glencore's Nickel Rim South Mine shaft to access copper, nickel, cobalt, gold and other critical minerals.
- The deal proposes transitioning to an equal‑partner joint venture, with detailed engineering, permitting and consultation next year and a final investment decision in the first half of 2027.
- Amid rising demand for wiring metal driven by electrification and AI, the project would churn out 880,000 metric tons of copper over 21 years and fits an industry collaboration trend.
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23 Articles
Winnipeg Free Press
Vale Base Metals and Glencore Canada to evaluate copper project in Sudbury Basin
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PR Newswire
NewswireVale Base Metals and Glencore Canada agree to evaluate development of Sudbury copper deposits
/PRNewswire/ -- Vale Base Metals ("VBM") today announced it has signed an agreement with Glencore Canada ("Glencore") to jointly evaluate a potential...
Mining Technology | Mining News and Views Updated Daily
BizTocVale, Glencore to jointly assess copper development project in Sadbury Basin, Ontario
Vale Base Metals, a subsidiary of Brazilian firm Vale, and Glencore Canada have entered into an agreement to jointly assess a potential brownfield copper development project at their adjacent properties located in Sudbury Basin, Ontario.The post Vale, Glencore to jointly assess copper development project in Sadbury Basin, Ontario appeared first on Mining Technology.
Vale and Glencore plan Canadian copper venture
VALE and Glencore are considering a joint copper project in Canada as both companies seek greater exposure to a metal expected to face supply shortages as global electrification accelerates, said Bloomberg News on Tuesday. The proposed partnership would develop a $1.6bn to $2bn project at neighbouring properties in Ontario’s Sudbury basin, Vale announced Tuesday. The venture would produce 880,000 tons of copper over 21 years, alongside nickel, c…
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