While "everyone knows there are great opportunities" for nickel in the EV sector, "prices are not there", according to Vale Chief Exec Fabio Schvartsman,
The permits issued by Minas Gerais state, where the mine is located, allow for the construction of a waste system in a depleted mine to receive tailings.
The company also said is ready to shut Caledonia mine mid-next year if it has not found a strategic partner ready to buy a 20 to 40% stake in the project.
About 150 workers will be pre-selected as a result of the process, which closes on Dec. 24. They’ll join the over 1,100 employees already working on the much-needed project.