The Totten mine, in Sudbury, Canada, has resumed operations and is ramping up production, following a six-month shutdown.
In September last year, a scoop bucket became lodged in the main shaft, trapping 39 workers. At the time, all the underground workers were safely returned to surface using a second egress.
Although the stopping and restart of operations has not impacted on Vale’s nickel production guidance of 175 000 t to 190 000 t for 2022, it does come at a time when the price of nickel is soaring.
Nickel rose to $25 000/t on Tuesday for the first time since 2011, extending a rally driven by dwindling global inventories and concerns that Ukraine tensions could disrupt supplies from Russia.
According to newswire Bloomberg, nickel advanced to $25 095/t and is the top performer on the London Metal Exchange this year, climbing amid forecasts that supply will fall short of growing demand from the electrification of vehicles.