Exiro-led group takes control of Vale Thompson nickel complex

A group led by Exiro Minerals, with Orion Resource Partners and the Canada Growth Fund, has closed its takeover of Vale's Thompson nickel operations in Manitoba, taking an 81.1 percent stake in a new company, Exiro Nickel.

Why it matters: Thompson is a district-scale Canadian nickel asset with more than six decades of production, and the change of control, backed by up to 200 million dollars of planned investment, reshapes who develops a key North American nickel belt.

Data as of Friday, October 16, 2026, 12:42 ET. Single sourced to Mining.com reporting, opened and read in full. No purchase price was reported, hence grade C for a developing item.

A group led by Exiro Minerals Corp., alongside Orion Resource Partners and the Canada Growth Fund, has taken control of Vale Base Metals’ Thompson nickel operations in northern Manitoba, holding 81.1 percent of a newly formed company, Exiro Nickel, while Vale retains 18.9 percent. The complex covers two operating underground mines, an adjacent mill and exploration ground across the 135 kilometre Thompson Nickel Belt, and the group plans to invest up to 200 million dollars in its long-term future.

The transaction has closed, ending a strategic review Vale launched in January 2025. Vale has also signed a multi-year agreement to buy nickel concentrate produced at the Thompson mill, keeping a commercial link to the operation after giving up majority control.

Exiro-led group takes control of Vale Thompson nickel complex

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