Labour peace in Sudbury boosts Vale results in Q4, nickel sales rise by 31%
![Sudbury mining giant Vale hiring hundreds This week, Vale Ltd. reported a 31 per cent increase in nickel sales in the fourth quarter of 2022. (File)](/content/dam/ctvnews/en/images/2020/2/24/sudbury-mining-giant-vale-hiring-hundreds-1-4825972-1675275311442.jpg)
This week, Vale Ltd. reported a 31 per cent increase in nickel sales in the fourth quarter of 2022.
The company said overall, finished nickel production was lower compared to 2021, largely because of a furnace rebuild at its Voisey’s Bay operation in Newfoundland and planned maintenance at Onça Puma, a mine in Brazil.
While overall raw production was higher, the maintenance stoppages at Voisey’s meant 10 per cent less finished nickel was produced.
Vale relied on its nickel inventory for the sales boost.
“Nickel production grew six per cent in 2022 to 179 kt, largely due to the stabilization of Sudbury operations after the labour strike in 2021, as well as consistent and strong performance at Onça Puma,” the company said.
“Nickel sales were 31 per cent higher … and 23 per cent greater than the quarterly production, as expected, following the inventory buildup in Q3 to meet sales commitments during planned maintenance at Long Harbour and Matsusaka in Q4.”
Copper production decreased 15 per cent, Vale said, due to extended maintenance at Sossego mill in Brazil during the first half of the year, and additional maintenance required at both Sossego and another mill.
“This was partially offset by higher production in Canada owing to the stabilization of Sudbury mines and the recovery of copper from copper precipitates in Thompson, reducing waste as part of our approach to circular mining,” the company said.
Finished nickel production from Sudbury-sourced ore decreased by nine per cent, as mine and mill maintenance activities in Q3 limited finished production in Q4.
However, Vale said during Q4, “Sudbury mines achieved the highest quarterly production rates since 2Q19, which is expected to be translated into better finished nickel production in (the first half of 2023).”
Read the full report here.
CTVNews.ca Top Stories
![](https://www.ctvnews.ca/polopoly_fs/1.6945600.1719608806!/httpImage/image.jpg_gen/derivatives/landscape_800/image.jpg)
'We need new leadership': Liberal MP writes to caucus, says Justin Trudeau should resign
A sitting Liberal MP has written to the federal caucus to say he thinks Prime Minister Justin Trudeau should resign. 'For the future of our party and for the good of our country we need new leadership and a new direction,' said New Brunswick MP Wayne Long in the brief note.
DEVELOPING 4 dead, 9 injured after minivan drives through Long Island nail salon, fire official says
Four people are dead and nine are injured after a minivan drove through a Long Island nail salon Friday afternoon, Dominic Albanese of the Deer Park Fire Department said in a news conference.
Ontario MPP removed from PC caucus over 'serious lapses in judgment'
Premier Doug Ford has removed a member of his caucus due to what he’s describing as 'serious lapses in judgment.' In a statement released Friday morning, the premier’s office said MPP Goldie Ghamari had been removed from the Progressive Conservative caucus 'effective immediately.'
Is marriage harder than it was 10 years ago? Why one psychologist thinks so
Marriage might be the oldest institution in the world, but it's struggling to adapt to the pressures of modern life. Registered psychologist Adisa Azubuike explains why it's more difficult today.
Sharks take forward Celebrini first overall at NHL draft
Macklin Celebrini is a member of the San Jose Sharks after the club selected the centre from Vancouver with the top pick at the 2024 NHL draft.
BREAKING Judge approves $9.5-million settlement in Calgary Stampede sex abuse lawsuit
A judge has approved a $9.5-million settlement for complainants in a class action lawsuit that accused the Calgary Stampede of allowing a performance school staffer to sexually abuse young boys.
Multivitamins don't help you live longer, study suggests
Millions of people who take multivitamins everyday may not be reaping the perceived health benefits, according to new research published in the Journal of the American Medical Association.
Five survivors from Sudbury, Ont., rescued in human trafficking investigation
Six people have been charged in a provincial human trafficking investigation that identified five survivors from Greater Sudbury.
Biden concedes debate fumbles but declares he will defend democracy. Dems stick by him ─ for now
U.S. President Joe Biden forcefully tried on Friday to quell Democratic anxieties over his unsteady showing in his debate with former President Donald Trump, as elected members of his party closed ranks around him in an effort to shut down talk of replacing him atop the ticket.