mining / deal
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Reuters · Global · Vale Base Metals hit Q1 2026 records in copper and nickel; the Glencore Sudbury JV targets a $1.6-2 billion deal and FID in H1 2027
Reports Vale and Glencore in advanced negotiations to form a Sudbury Basin joint venture combining Vale's Copper Cliff smelter and selected nickel-copper underground mines with Glencore's Sudbury nickel operations. The JV is valued at $1.6-2.0 billion; Vale would retain operational control. FID is targeted for H1 2027 pending regulatory approval from Canada's Competition Bureau and clearance under the Investment Canada Act.
“Vale and Glencore are in advanced negotiations for a Sudbury Basin JV valued at $1.6-2.0bn combining smelting and underground nickel-copper assets; FID targeted H1 2027.”