Brazilian mining giant Vale is moving forward with its underground nickel mine at Voisey’s Bay, Newfoundland and Labrador Premier Dwight Ball announced Monday morning.
It’s a “momentous announcement” for the mining industry, Ball said at the announcement at the Sheraton Hotel in downtown St. John’s.
Past and present Newfoundland and Labrador premiers gather at the Vale press conference: from left, Brian Tobin, Ball, Roger Grimes and Clyde Wells. (Terry Roberts/CBC)
“Vale is proceeding with its underground mine,” Ball said.
“This is a province that’s open for business, and people are showing up.”
The move will extend the mine’s operating life by at least 15 years, Ball said. Over the five-year construction, more than 16,000 person-years of employment will be created.
Once operational, direct employment will hit 1,700 jobs, including the Long Harbour processing plant, Ball said.
A very diverse group gathered at the Sharaton this morning in advance of a big announcement by Vale, including current and future political leaders. <a href=”https://t.co/a122UBcE4C”>pic.twitter.com/a122UBcE4C</a>
—@TRobertst
Construction will begin later this summer, with first ore expected no later than April 2021.
The Voisey’s Bay mine and concentrator is located south of Nain, on Labrador’s northern coast.
The project was cast into uncertainty 10 months ago when the company announced it was reviewing its worldwide operations amid a persistent downturn in nickel prices.
The roughly $2-billion project was sanctioned in 2015, and was scheduled to begin production in 2020.
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