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Vale Base Metals sells majority stake in Thompson Nickel Belt to ...
Consortium including Exiro Minerals and Canada Growth Fund will invest $280 million to revive Thompson Mine, with Vale retaining 18.9% stake and signing concentrate offtake deal.
- On Feb. 19, 2026, Vale Base Metals agreed to sell a majority stake in the Thompson Nickel Belt to Exiro Minerals Corp., Orion Resource Partners LP and Canada Growth Fund Inc., forming Exiro Nickel Co. with up to $280,000,000 investment.
- VBM launched a strategic review in January 2025 after nickel prices fell to a five-year low, prompting partners to mobilize capital to secure Thompson community and local jobs.
- Under the agreement, VBM will retain an 18.9% stake while Exiro, Orion and CGF will own 81.1%, with VBM signing a multi-year offtake agreement for nickel concentrate and targeted closing by the end of 2026.
- Under the plan, there are no planned layoffs and about 700 staff, with the deal aiming to expand operations and hire more workers, officials said.
- With an estimated 20-year life-of-mine, officials said the deal supports Canada's critical mineral policy and positions Canada as a secure supplier in global nickel supply chains.
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14 Articles
14 Articles
It is true that the creation of a new company, where the Vale Base Metals will be with a minority participation of 18.9%, and Exiro, Orion and Canada Growth Fund will stop the remaining 81.1%
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Total News Sources14
Leaning Left3Leaning Right2Center6Last UpdatedBias Distribution55% Center
Bias Distribution
- 55% of the sources are Center
55% Center
L 27%
C 55%
R 18%
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