SUDBURY, Ont. — Vale Inco Ltd. officials say they are determined to restructure the company so it can break out of the boom-and-bust cycle and succeed regardless of the price of nickel.
"We've gone through the boom and bust on the price of nickel," said Cory McPhee, vice-president of corporate public affairs. "The times when everything is great and the times of hand-wringing where (there are) layoffs and shutdowns."
The mining giant is facing a strike by more than 3,000 members of United Steelworkers Local 6500 in Sudbury and 6200 in Port Colborne, but resumed some production last week.
The company, formerly known as Inco Ltd., is now owned by Brazilian miner Companhia Vale do Rio Doce.
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McPhee said in an interview Tuesday that the company remains committed to Sudbury.
He said Vale Inco has doubled its capital expenditures, tripled exploration employment and doubled exploration expenditures since the new owners took over.
(Sudbury Star)