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SPC and Vale to consolidate Sudbury nickel/copper deposits in Canada

January 31, 2023
in News, NICKEL

SPC Nickel and Vale Canada, a subsidiary of diversified miner Vale, have agreed to consolidate their adjacent and contiguous West Graham and Crean Hill 3 nickel and copper deposits in the Sudbury mining camp, located in Ontario, Canada.

The agreement grants SPC Nickel the right to acquire a 100% interest in the surface and mineral rights of the Crean Hill 3 Property.

In exchange, Vale will have certain rights and royalties across the combined project. SPC CEO Grant Mourre said: “The signing of this agreement with Vale represents a transformative growth opportunity for SPC Nickel and its shareholders.

“The consolidated West Graham and Crean Hill 3 deposits gives SPC Nickel, as operator, the ability to optimise synergies during the exploration, development and production stages of the project.”

The West Graham and Crean Hill 3 deposits comprise the eastern and western contiguous portions of a large near-surface nickel-copper sulphide deposit at the Sudbury Igneous Complex’s base. According to the agreed terms, SPC Nickel can earn a 100% interest in the Crean Hill 3 Property by delivering a feasibility study for the combined property to Vale by 30 June 2026.

SPC Nickel will also pay C$1m in cash to Vale at the feasibility study deadline. Upon earning a 100% stake in the Crean Hill 3 Property, the Canadian firm will grant certain rights and royalties over the combined project to Vale.

Mourre said the Crean Hill 3 Property would allow SPC Nickel to significantly grow the West Graham Deposit into a high-quality nickel-copper asset in one of the world’s top nickel mining camps.

“Our recently completed drill programme at West Graham has provided the technical team with a firm understanding of the types of mineralisation we expect to define on the Crean Hill 3 Property and, more importantly, the controls on mineralisation that we expect to guide us to higher-grade opportunities across the combined Project,” Mourre added.

 

 

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Recent Posts

  • SPC and Vale to consolidate Sudbury nickel/copper deposits in Canada
  • Beyond Minerals acquires Canadian mining claims from Lithos Minerals
  • Sumitomo deploys Sandvik technology at Japan’s Hishikari gold mine
  • Eight new mines or expansions in British Columbia worth investment of $4.9 billion
  • Marimaca Copper infill drilling yields best results to date at oxide deposit in Chile
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