Vale Base Metals completes transfer of Thompson Mine Complex control to Exiro Nickel
VALE•Vale Base Metals completed the transfer of Manitoba’s Thompson Mine Complex to new owner and operator Exiro Nickel on October 16, 2026. Vale retains an 18.9% stake and has a multiyear agreement for nickel concentrate from the mill.
1. Transfer completed
Vale Base Metals completed the transfer of Manitoba’s Thompson Mine Complex to Exiro Nickel on October 16, 2026. Exiro Minerals, Orion Resource Partners and Canada Growth Fund collectively own 81.1% of Exiro Nickel, while Vale Base Metals retains an 18.9% minority stake through Vale Canada.
2. Offtake agreement
A multiyear offtake agreement secures nickel concentrate from the Thompson mill for Vale Base Metals. The transaction concludes the strategic review of Thompson operations and establishes dedicated ownership and investment for the complex.
