Vale Base Metals safely completed the construction and commissioning of the US$2.94 billion Voisey’s Bay Mine Expansion Project in December 2024. Located in Newfoundland and Labrador, the Voisey’s Bay Mine Expansion (VBME), represents the transition of Voisey's Bay from an open-pit mine to underground mining. The project involved the development of two underground mines, Reid Brook and Eastern Deeps, that will supply concentrate for processing at the Long Harbour Operations site, one of the lowest-emission nickel processing plants in the world. In addition to the increased nickel production, the project will add 20 ktpy of copper and 2.6 ktpy of cobalt. This project highlights Vale Base Metals’ commitment to fostering social and economic development, including local employment generation, procurement, capacity building, and Indigenous partnerships.