Sudbury Basin copper project advances as Vale and Glencore assess a new Canada JV

VALE

The Sudbury Basin copper project gained momentum after Vale Base Metals signed a study pact with Glencore Canada in Ontario, Canada. This Sudbury Basin copper project could deliver 880,000 tonnes of copper over 21 years. The partners also target nickel, cobalt, gold, and platinum group metals. Meanwhile, they plan to form a joint venture and reach a final decision in 2027.

Economics and schedule for the underground build-out

The companies expect project costs between $1.6bn and $2bn, depending on the development plan. They will use existing mining infrastructure to speed access and reduce surface disruption. As a result, the study will focus on underground deposits across the basin. The timetable points to a final investment decision in the first half of 2027.

Nickel Rim South reactivation and critical-minerals upside

The framework links exploration to existing workings at Nickel Rim South mine, now on care and maintenance. Glencore can reopen underground access without starting from a greenfield footprint. Therefore, the Sudbury Basin copper project can also support North American battery supply chains. However, permitting, metallurgy, and capital discipline will decide whether the JV proceeds.

The Metalnomist Commentary

This agreement shows how incumbents stretch existing assets to secure critical minerals. Meanwhile, copper and cobalt co-products can improve project resilience during price cycles. Therefore, markets will watch the 2027 decision milestone closely.