Bloomberg reported that Vale SA may build an underground mine at its Voisey's Bay unit in Canada, extending the life of the deposit by 30 years.

Mr Tom Paddon GMO of Voisey's Bay said that it is forecast to last until 2019 as an open pit mine. Voisey’s Bay could continue producing as much as 50,000 tonnes a year through 2049 if Vale decides to build the underground mine. He added that "We're still a long way from making a decision. This may still be more than two years off."

Mr Paddon said that output from an underground mine at Voisey's Bay would feed a USD 2 billion nickel refinery that Vale is building in Long Harbour, Newfoundland. He added that the refinery is set to open in 2014 with annual capacity of 50,000 tonnes.

(Sourced from www.bloomberg.net)