Vale Still Operating Nickel Processing Plant at Onca Puma

Nickel Investing

Reuters reported that Vale SA (NYSE:VALE) continues to operate the nickel processing plant at its Onca Puma project. A court had ordered a halt in mining activities at the project, and now there is debate over whether operating the plant violates that order.

Reuters reported that Vale SA (NYSE:VALE) continues to operate the nickel processing plant at its Onca Puma project. A court had ordered a halt in mining activities at the project, and now there is debate over whether operating the plant violates that order.
As quoted in the market news:

While the plant continues to process ore into ferronickel, Vale has stopped operations at the open pit mine where it obtains the nickel ores, Jennifer Maki, Vale’s head of base metals, said on the sidelines of the annual “Vale Day” event.
Vale, the world’s largest producer of nickel, has said in recent days it is in full compliance with the order to halt mining operations at the key nickel facility.
The Federal Public Ministry in Brazil’s Para state (MPF) said on Friday the company had not been complying with the order from the Superior Justice Tribunal for more than a month but did not specify in what way.
It was not previously known that the processing plant was still operating, and while ferro-nickel processing is not a mining activity, it is not clear if the continued operation of the plant was what the MPF was referring to in saying Vale was violating the shutdown order.

Click here to read the full Reuters report.

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