MinRes to put lithium mine under maintenance
The company will put its Bald Hill lithium mine in Western Australia under care and maintenance starting this week.
Vale said on Thursday that it has halted operations at New Caledonia after pro-independence protests nearby, and that military forces are now guarding the evacuated plant.
In a securities filing, Vale said there was no environmental damage, industrial accidents or injuries, and that operations have been suspended “in a safe and controlled manner.”
On December 8th Vale signed a binding put option agreement for the sale of its ownership interest in VNC, which is backed by both the Caledonian and French governments and was approved by the VNC workers’ council.
VCN has proven a financial burden for Vale since it began operations two years behind schedule in 2010.
Vale cut in April its 2020 nickel production guidance to 200,000 – 210-000 tonnes per year from 240,000 tpy to account for the anticipated loss of VNC’s 60,000-tpy output.
Shortly after, the miner revealed it had received non-binding offers for VNC, which includes the Goro mine, a processing plant and the port of Prony.
Comments