The mayor of a Manitoba city remains optimistic amid the news a mining company is exploring the potential sale of its assets.
Vale Base Metals, which oversees the Thompson Nickel Belt in Manitoba, announced last month it is undergoing a strategic review of its mining and exploration assets in Thompson, including a potential sale.
“Our activities and investments in Thompson have generated significant value for northern Manitoba for more than 60 years, said Shaun Usmar, Vale Base Metals CEO, in a news release. “This process is aimed at seeing if a new owner may be better suited to invest the capital and resources needed to unlock the vast mineral potential of this district-scale asset to continue that legacy, while delivering value for our investors.”
Colleen Smook, the Mayor of Thompson, said Vale is the largest employer in the city, with more than 1,000 people working for the company.
She said she is confident the city would be able to weather the sale.
“While the news definitely hurts the community, I’m optimistic that with the mining and the nickel belt…I’m sure we’ll be scooped up,” Smook said.
Smook added if Vale decides to sell, she is hoping the mine would return to local ownership.
“It would be nice to have it Northern-owned or Manitoba-owned, at least Canadian-owned,” she said. “We have our Indigenous groups in the north. They’ve partnered with the Hydro dam. So, partnering with mining and getting the right partner with them, I think, would be a real boon for the North and for all our northern regions and our communities.”
Vale has said its review would be completed in the second half of 2025.
