Vale Base Metals Announces Start-Up of Furnace 2 at Onça Puma

TORONTO, Sept. 30, 2025 /PRNewswire/ -- Vale Base Metals ("VBM") today began operating the second nickel processing furnace ("Furnace 2") at the Onça Puma Mining Complex in southeastern Pará, Brazil, significantly increasing production capacity and further positioning the company for long-term growth and profitability.

The start-up of Furnace 2 consolidates Onça Puma as the largest ferronickel operation in Brazil, adding 15 kilotons of nickel production capacity, bringing the operation to a nameplate production capacity of 40 ktpa.

The company completed the project on schedule and nearly 13 per cent below budget. There were no lost time injuries over the course of the three-year project.

"I want to acknowledge and thank Kilma Cunha and her team at Onça Puma, along with our partners for their dedication and excellence in delivering this project. This investment and successful delivery of the project further demonstrates VBM's commitment to Pará and Brazil, while ensuring our world-class operations remain globally competitive," said Shaun Usmar, CEO of VBM. "We recognize the importance of consistently delivering on our commitments as a foundational principle to support the large investments in our copper growth ambitions in Brazil planned over the coming decade."

The Furnace 2 project generated 2,500 jobs during the construction phase, and its completion positions Onça Puma in a favourable position on the global nickel cost curve. With over 1,800 permanent employees and contractors, the Onça Puma Mining Complex is a key hub for employment and income generation in Pará, and a significant contributor to the region's socioeconomic development.

VBM remains on track to meet its 2025 nickel guidance for 160-175 kt. The start-up of Furnace 2, alongside the ramp-up of underground mining at Voisey's Bay in Canada will contribute to nickel production of between 210 kt-250 kt by 2030.

About Onça Puma 

Onça Puma commenced operations in 2011, establishing Brazil as a strategic exporter of nickel to the stainless-steel industry. Onça Puma is committed to supporting socioeconomic development in the communities in which it operates through local employment, tax contributions, direct investment, and local procurement.

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.