[SMM Flash News] Vale Base Metals Reports Strong Q1 2026 Nickel Output and Sales Amid Strategic Thompson Restructuring

Published: Apr 29, 2026 15:51

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In Q1 2026, Vale Base Metals reported a solid year-on-year increase across most of its nickel operations, driven by record first-quarter production at Onça Puma (8.9 kt) and Voisey’s Bay's Long Harbour Refinery (10.5 kt), alongside resilient output from Sudbury (10.6 kt). Although production at Thompson dipped to 1.2 kt due to pipeline and weather issues, the company advanced its strategic portfolio review by signing an agreement to form a new consortium for the Thompson Nickel Belt, wherein it will retain an 18.9% stake, with the deal expected to close by late 2026. Overall nickel sales reached 44.8 kt (up 5.9 kt y/y), remaining slightly below production as the company built up inventory ahead of planned Q2 refinery maintenance.

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