Vale Base Metals and Glencore Canada have partnered to assess a copper project in Sudbury Basin, Ontario, with plans to deepen mine shafts and access nearby deposits. The project aims to produce 880,000 tonnes of copper over 21 years, with a potential investment of $1.6-2 billion. Production of other minerals is also expected.

Glencore shareholders may benefit from the project as the company’s copper output has been declining. Glencore’s own-sourced copper production decreased by 17% to 583,500 tonnes in 2025, while cobalt output increased. The company revised its 2025 copper production forecast to 850,000-875,000 tonnes due to lower ore grades.

Vale aims to double its base metals production capacity to 700,000 tonnes per annum by 2035. The company recently inaugurated the Capanema mine in Brazil, with plans to invest $12.2 billion by 2030. The partnership between Vale and Glencore in Sudbury Basin marks a significant step in the development of the copper project.

Read more at Yahoo Finance: Vale, Glencore to jointly assess copper development project in Sadbury Basin, Ontario