The CEO of Vale Canada, Deshnee Naidoo, has described the country’s most recent federal budget as a “game changer” for her company’s operations, including its nickel processing plant in Long Harbor, Newfoundland and Labrador.
Naidoo accompanied Finance minister and deputy prime minister Chrystia Freeland on a tour of Vale’s plant, which the company claims produces some of the world’s least carbon-intensive nickel. Two tax credits were highlighted by Freeland during her visit: The Investment Tax Credit for Clean Technology Manufacturing and the Clean Electricity Investment Tax Credit.
The budget’s credits and announcements are expected to be critical for the mining industry’s push to reduce carbon emissions, Naidoo said. The Long Harbor plant uses a unique hydrometallurgical process to produce nickel, copper, and cobalt, which is expected to be crucial in the decarbonization of industries like the auto sector.
Vale also plans to generate wind-powered energy at its Voisey’s Bay operation, which will reduce its dependence on diesel and cut its carbon footprint by a third by 2030.
Source: CBC
Image of Long Harbor Nickel Processing Plant: Vale