What companies are collaborating on the new copper project in Canada?

Vale SA and Glencore Plc are planning a joint copper development in the Sudbury Basin.

What is the estimated value and output of the project?

The project is valued between $1.6 billion and $2 billion and could produce 880,000 metric tons of copper over 21 years.

What other minerals will the project produce?

In addition to copper, the project will produce nickel, cobalt, gold, and other critical minerals.

Vale–Glencore Partnership Targets $2 Billion Copper Project in Canada

Copper | 2025-12-03 10:10:16

The proposed Sudbury Basin project, valued between $1.6 billion and $2 billion, could produce 880,000 metric tons of copper over 21 years, Vale said in a statement.

By Paul Ploumis

Vale–Glencore Partnership Targets $2 Billion Copper Project in Canada

Summary

Joint Copper Project: Vale and Glencore are planning a $1.6–$2 billion copper development in Canada’s Sudbury Basin, targeting 880,000 tonnes over 21 years.
Strategic Collaboration: The 50-50 partnership combines Vale’s base metals expertise with Glencore’s mining operations, producing copper, nickel, cobalt, gold, and other critical minerals.
Future Plans: Engineering and permitting are set for 2026, with a final investment decision in early 2027; Vale aims to double its base metals output to 700,000 tonnes annually by 2035.

SEATTLE (Scrap Monster): Vale SA and Glencore Plc are exploring a joint copper development in Canada as both miners seek to expand their exposure to a metal expected to face global shortages amid the energy transition. The proposed Sudbury Basin project, valued between $1.6 billion and $2 billion, could produce 880,000 metric tons of copper over 21 years, Vale said in a statement.

The collaboration would combine Vale’s base metals expertise with Glencore’s operations, including plans to deepen the existing shaft at Glencore’s Nickel Rim South Mine and develop new underground drifts. The venture is intended as a 50-50 joint partnership, with production also including nickel, cobalt, gold, and other critical minerals.

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Mining companies are increasingly joining forces to manage rising costs and declining ore quality while meeting growing demand from electrification, renewable energy, and AI-powered data centers. For Glencore, the project may help address investor concerns over declining copper output, which is set to fall for a fourth consecutive year.

Engineering, permitting, and stakeholder consultations are planned for 2026, with a final investment decision expected in the first half of 2027. Vale also aims to double its base metals output to 700,000 tons annually by 2035.

POLL

What is the main reason mining companies are pursuing joint copper projects?

Meet growing demand for electrification and renewable energy

Manage rising costs and declining ore quality

Diversify production into multiple critical minerals

Frequently Asked Questions

What companies are collaborating on the new copper project in Canada?
Vale SA and Glencore Plc are planning a joint copper development in the Sudbury Basin.
What is the estimated value and output of the project?
The project is valued between $1.6 billion and $2 billion and could produce 880,000 metric tons of copper over 21 years.
What other minerals will the project produce?
In addition to copper, the project will produce nickel, cobalt, gold, and other critical minerals.