IGO to record impairment against nickel assets in strategy shift
IGO has been undertaking a strategic review in an attempt to revaluate its resources.
Vale has successfully rescued all 39 of its employees who were trapped in its Totten copper, nickel and precious metals mine in Sudbury, Ontario, the Brazilian miner said on Wednesday.
All workers are in good health, Vale said.
They were trapped on Sunday when a vehicle transporting the employees was taken offline. The workers then went to refuge stations with access to food and water, Vale said.
Vale CEO Eduardo Bartolomeo said an investigation would be launched into what happened.
Vale inherited the then-inactive and water-filled Totten facility in 2006 when the Brazilian company acquired Inco. Vale spent about $700 million to bring the nickel-copper mine into production in 2014.
(By Gabriel Araujo; Editing by Jason Neely)
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