Vale Base Metals Announces Successful Completion of Cobalt Throughput Test at Voisey's Bay

TORONTO, Sept. 4, 2025 /PRNewswire/ -- Vale Base Metals is pleased to announce the successful completion of the cobalt throughput test at its Voisey's Bay mine, with the operation achieving an average throughput rate of 93.7% over a 90-day period.

The throughput test, a requirement under the Voisey's Bay streaming agreement with Wheaton Precious Metals Corp. and Ecora Resources PLC, required Voisey's Bay to maintain an average throughput rate of at least 85% of capacity over 90 consecutive days.

"This is a meaningful achievement for Voisey's Bay," said Shaun Usmar, Chief Executive Officer of Vale Base Metals. "It puts an exclamation point on the operation's successful transition to underground mining, showing that Voisey's Bay is not only meeting its planned production rate, but is exceeding it."

Usmar continued: "I want to acknowledge and thank Roberto Damasceno, Pieter Loock, and the entire Voisey's Bay team for their hard work and dedication in getting us to this important milestone. This is another example of how Vale Base Metals is transforming into a safe, reliable, cost competitive operator that delivers on its targets and commitments."

Voisey's Bay entered production in 2005 as an open pit mine. In late 2024, it completed a multi-year expansion that transitioned the operation to underground mining, ensuring Voisey's Bay will continue to serve as an important engine of economic growth in Newfoundland & Labrador and provider of low-carbon, high-quality nickel, copper, and cobalt for many years to come.

About Vale Base Metals

Vale Base Metals is one of the world's largest producers of high-quality nickel and an important producer of responsibly sourced copper and cobalt. Vale Base Metals Limited is based in London, United Kingdom with its global operations centre in Toronto, Canada. The company also has operations in Newfoundland & Labrador, Ontario, Manitoba, Indonesia, Brazil, and Japan. Vale Base Metals is 90 per cent owned by Vale S.A. and 10 per cent by Manara Minerals Investment Company. 

Contact: Media Relations Office – Vale Base Metals, [email protected]