Project Overview
Vale’s Sudbury mines, located in Ontario, Canada, have an operating history dating back to 1885. Sudbury is
one of the largest nickel producing areas globally. The Sudbury gold stream covers the five producing mines,
Coleman, Copper Cliff, Creighton, Garson, and Totten mines and one development stage project, the Victor
Mine Project (“Sudbury Mines”).
The Sudbury Impact Basin represents the site of a 1.85-billion year old meteor impact that created a 200-250
km sized crater in the Earth's crust, and led to the development of the Sudbury Igneous Complex (SIC), a
layered, impact melt sheet roughly 60 km by 30 km by 2.5 km thick. Magmatic Ni-Cu-PGE sulfide minerals,
crystallised from mafic melts, sank due to density contrasts and formed as embayments in the footwall rocks
of the SIC. The SIC represents the largest source of magmatic nickel in the world.
Vale also has a central concentrator and a smelter and refinery complex located in Sudbury, making this one
of the largest integrated mining operations in the world. Vale has completed two key infrastructure
initiatives in Sudbury, the Clean Atmospheric Emissions Reduction (“Clean AER”) project and Copper Cliff’s
single furnace strategy.
Stream Details
| Date of Contract |
28-Feb-13 |
| Term |
20 years* |
| Stream |
70% of gold production |
| Upfront Consideration |
$624M ($570M cash + 10 million warrants with $65
strike & 10 year term)1 |
| Per Unit Production Payment |
$400 |
| Cost Quartile |
Second |
For more information on the Sudbury mines, please visit: www.vale.com (opens in new
tab)