Voisey’s Bay Update
Vale completes Voisey's Bay mine expansion; Ecora entitled to 22.82% of cobalt production, ramping up by H2 2026.
- Ecora cobalt entitlement 22.82%
- Cobalt production from expansion 2.6 Ktpa
- Ecora entitlement post-threshold 11.41%
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Ecora Resources PLC (LSE/TSX: ECOR) notes the publication of a press release by Vale Base Metals, on 3 December 2024, announcing the completion of the Voisey's Bay Mine Expansion Project. Ecora has a stream agreement which entitles it to receive 22.82%1 of all cobalt production from the Voisey's Bay mine.
The expansion project transitioned Voisey's Bay from open pit to underground mining. The project involved the development of two underground mines - Reid Brook and Eastern Deeps - which will deliver concentrate for processing at the company's Long Harbour Processing Plant, one of the lowest-emission nickel processing plants in the world.
In addition to the increased nickel production, the project will produce 2.6 Ktpa of cobalt on average over the life of mine. Full ramp up is expected by the second half of 2026.
The full press release is available here: https://www.vale.com/w/vale-informs-the-voiseys-bay-mine-expansion-project-completion/-/categories/1968806
- The Group is entitled to receive 22.82% of all cobalt production from Voisey's Bay up until 7,600 tonnes of finished cobalt have been delivered, and 11.41% entitlement thereafter.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.