Vale Base Metals Closes Thompson Sale, Keeps 18.9% Stake
Toronto – October 16, 2026 -- Vale Base Metals (VBM) has completed the transaction that makes Exiro Nickel Company the new owner and operator of the Thompson Mine Complex in Manitoba, Canada, backed by a commitment to invest up to US$200 million (approximately CAD$280 million) in the operation.
Exiro, Orion and Canada Growth Fund take 81.1% of Exiro Nickel
Exiro Minerals Corp., Orion Resource Partners LP and Canada Growth Fund Inc. collectively hold 81.1% of Exiro Nickel. VBM, through its subsidiary Vale Canada Limited, retains an 18.9% minority interest. All customary regulatory and government authorizations have been received.
VBM secures multi-year offtake for Thompson nickel concentrate
VBM has entered into a multi-year offtake agreement for nickel concentrate produced at the Thompson mill. Together with the retained equity stake, the agreement keeps VBM tied to Canadian nickel supply from Manitoba.