Vale’s Sudbury Operations will spend $42 million on exploration in the Greater Sudbury Area, doubling the company’s exploration spend from a year ago.
The company plans to have 13 drill rigs and about 30 active exploration projects operating in the area.
Vale’s outlay is part of a larger trend of increased exploration spending in Canada. According to Natural Resources Canada, exploration spending will increase in Canada by 6.0% in 2018 to hit $2.2 billion this year.
Exploration will be conducted on the surface and underground. Sudbury residents can expect airborne surveys will be conducted by helicopters from mid-July through the end of September carrying suspended surveying instruments.
Vale’s Sudbury Operations have been in operation for more than 100 years. There are six mines, a mill, a smelter, a refinery that employ nearly 4,000 workers. Products include nickel, copper, cobalt, platinum group metals, gold and silver.
Written with material from Vale news release.
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From:: Infomine