Vale ( NYSE: VALE ) officially opened the first phase of its C$945M Copper Cliff Complex South Mine Project on Thursday, which is predicted to double ore production at the Sudbury, Ontario, mine.
Vale ( VALE ) said phase 1 will supply of low-carbon nickel and other critical minerals and improve the long-term sustainability of the Sudbury operations.
The company expects the initial phase will add ~10K metric tons/year of contained nickel and 13K metric tons/year of copper.
More than 12 km of tunnels were developed to reunite the south and north shafts of Copper Cliff Mine, creating the new Copper Cliff Mine Complex.
Vale ( VALE ) may be "one of the most cheaply valued companies on the market," and it offers a nearly 10% dividend yield, Cavenagh Research writes in an analysis published recently on Seeking Alpha .
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Vale unveils $945M Copper Cliff Complex South Mine Project