Project Overview
The Voisey’s Bay mine and concentrator is located on the north coast of Labrador, near Nain, approximately
1,200 kilometres north of St. John’s, Newfoundland.
Voisey’s Bay is classified as a magmatic sulfide deposit. It formed as a result of mantle-derived magma
(gabbro), which contains elevated concentrations of iron, nickel, copper, and cobalt, being emplaced into
metamorphosed sedimentary rocks containing sufficient quantities of sulphur that could be dissolved into the
magma. As the gabbroic magma cooled, liquid iron-sulfide droplets formed and sank to the bottom of the magma
chamber due to their relatively high density. As the droplets passed through the magma, they preferentially
picked up the nickel, copper, cobalt forming sulfide minerals mined today.
Construction and commissioning of the Voisey’s Bay Mine Expansion Project was completed on December 3, 2024.
Ore is primarily sourced from two underground mines, Reid Brook and Eastern Deeps, as the operation
transitions from open pit to underground mining. Reid Brook, located in the west, is characterized by
disseminated to semi-massive sulfide mineralization. Eastern Deeps is dominated by massive-sulfide
mineralization.
Mined ore is processed at the on-site concentrator, which produces copper concentrate and a
nickel-cobalt-copper concentrate. The nickel concentrate is shipped to Vale’s Long Harbour Processing Plant
for conversion into finished nickel, along with associated copper and cobalt products. The copper
concentrate is shipped to third-party smelters and does not contain payable cobalt.
Stream Details
| Date of Contract |
11-Jun-18 |
| Term |
Life of Mine |
| Stream |
42.4% of Co until 31Mlbs delivered then 21.2% of Co
thereafter |
| Upfront Consideration |
$390M |
| Per Unit Production Payment |
18% of spot Co until balance of the upfront
payment is reduced to zero, 22% thereafter |
| Cost Quartile |
Fourth |
For more information on the Voisey's Bay mine, please visit: www.vale.com (opens in new
tab)