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Vale's nickel business, formerly known as Inco, has a rich history dating back more than 100 years in Canada. To learn more, please explore Our History, below.
Through most of our 100 years, Vale Inco was a North American company that brought its nickel to the rest of the world. Today, we are a truly global company, mining in two hemispheres and operating on four continents. For more about our rich history, see our timeline.
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In 1883, during the westward expansion of the Canadian Pacific, blacksmith Tom Flanagan detected copper sulphide in a right-of-way cut through rock on the rim of the Sudbury Basin. It later became the Murray Mine.
Read more about our history by clicking on the dates above in the timeline.
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1900s
1901
First ore was shipped from the Creighton Mine, near Sudbury, Ontario in July.
1902
A nickel refinery at Clydach, Wales was completed by Mond Nickel Co. International Nickel Co. was formed on April 1.
1903
Wright Brothers' first successful airplane was flown. The engine for latermodels (1908-1912) used a nickel steel crankshaft and began a century-long relationship between nickel and the aviation industry.
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1910s
1915
International Nickel Company stock was first listed on the New York Stock Exchange on September 23.
1916
The International Nickel Company of Canada Limited was incorporated July 25, as a subsidiary of The International Nickel Company (the American corporation).
1918
The Port Colborne Refinery starts up in July.
1919
The first ad in International Nickel's first advertising campaign appeared in the Saturday Evening Post of October 4.
The International Nickel Co. begins using the trademark name, INCO.
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1920s
1921
International Nickel builds a rolling mill at Huntington, West Virginia for the production of MONEL nickel. This marks the beginning of Vale Inco Alloys.
1924
The Acton Precious Metals Refinery was built in the United Kingdom.
1928
Vale Inco's stock price was selected as one of the components of the Dow Jones Industrial Average when the index was expanded to include 30 companies.
1929
The International Nickel Company of Canada, Limited became the parent company of the Mond Nickel Co., Ltd. following a merger.
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1930s
1939
King George VI and Queen Elizabeth became the first members of the British Royal family to visit the Sudbury, Ontario nickel operations, and the Queen became the first woman to go underground in one of the District's mines, Vale Inco's Frood Mine.
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1940s
During the war years, 1939 to 1945, International Nickel delivered 1.5 billion pounds of nickel, 1.75 billion pounds of copper, and over 1.8 million ounces of the platinum metals to the allied countries.
The tonnage of ore mined by International Nickel during the war years equaled the production of the company and its predecessors during the previous 54 years of their existence.
1946
International Nickel is the first Canadian company to use the Airborne Magnetometer in geophysical prospecting. Vale Inco was the first company to adopt it.
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1950s
1953
International Nickel began construction of an iron ore plant near Copper Cliff, Ontario in September.
1954
The world's tallest smelter chimney, 637 feet above ground level, was erected in Sudbury to serve the iron ore recovery plant of International Nickel.
1955
Vale Inco's December dividend payment of $29 million was the largest single payment ever made by a Canadian company.
1956
On February 27, a major nickel ore discovery was confirmed as a result of drilling at Thompson, Manitoba.
In December, International Nickel announced its plans for immediate development of a new nickel-mining centre in the Mystery-Moak Lakes region of northern Manitoba.
1958
At Vale Inco's Port Colborne, Ontario refinery a new process was developed for the recovery of nickel by the direct electrolysis of nickel matte marking the beginning of this operations contribution to Vale Inco's research programs.
1959
Her Majesty Queen Elizabeth II and His Royal Highness Prince Philip visited Vale Inco's Frood Mine in the Sudbury District during their Royal Tour. In 1939, Her Majesty's parents went underground to view operations in the same mine.
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1960s
1960
Vale Inco's shareholders approved a 2-for-1 stock split.
1961
On March 25, Vale Inco's mining and refining enterprise at Thompson, Manitoba was formally dedicated. During the year it was brought into full operation, making Vale Inco the second largest producer of nickel in the world.
1965
Tokyo Nickel Company, Ltd. was incorporated on August 4, as a joint venture between Shimura Kako Co., Ltd., (50 per cent), Vale Inco (40 per cent), and Mitsui & Co., Ltd. (10 per cent).
Vale Inco announced a new nickel mining project in Guatemala. The company's majority-owned subsidiary, Exploraciones Y Explotaciones Mineras Izabal, S.A. was granted a 40-year Niquegua mining concession renewable for 20 additional years.
1966
The J. Roy Gordon Laboratory at Sheridan Park, Toronto, was opened on September 1. The dedication took place the following year.
1968
An initial agreement was signed on January 29 between the Government of the Republic of Indonesia and International Nickel following the decision of the Indonesian cabinet to accept Vale Inco's proposal regarding nickel deposits on the island of Sulawesi. The Contract of Work was signed on July 2.
1969
On July 20, astronaut Neil Armstrong took his first step on the surface of the moon. Vale Inco nickel alloys played a vital role in this historic moon voyage.
Vale Inco completed the sinking of a 7,138 foot No. 9 shaft at Vale Inco's 69-year-old Creighton Mine in the Sudbury District - the deepest continuous mine shaft in the Western Hemisphere.
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1970s
1970
In June, P.T International Nickel Indonesia, Vale Inco's wholly-owned Indonesian subsidiary, confirmed the location of a significant lateritic nickel deposit in the Sorowako area of the island of Sulawesi. A feasibility study was initiated.
1971
Vale Inco's new Clarabelle concentrator, capable of treating 35,000 tons of ore a day, became operational in November.
1972
Vale Inco commissioned a US$26 million, 1, 250 foot chimney with a gas-cleaning system at the Copper Cliff smelter to improve environmental quality in the communities in which it operated.
1973
Vale Inco's new $140 million Copper Cliff Nickel Refinery was officially opened in October and with the start of that operation nickel pellets were introduced into the North American market.
Vale Inco's new mine and mill complex at Shebandowan, in northwestern Ontario, was officially opened.
Vale Inco began the construction and engineering on the first phase of the lateritic nickel project of PT International Nickel Indonesia at Sorowako, on the Indonesian island of Sulawesi.
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1975
Due to the high cost of oil, an agreement was reached with the Indonesian government to proceed with Stage II, which would expand the output of the plant and include the construction and operation by Vale Inco Indonesia of a 165-megawatt hydroelectric plant on the Larona River to supply power to the expanded project.
INCO became the new name of the International Nickel Company of Canada, Limited
A new Vale Inco subsidiary, the International Metals Reclamation Company, Inc. (Inmetco), was formed to put into commercial operation an Vale Inco process for converting waste from specialty steel mills into commercially useful metallurgical charge materials.
1977
Indonesia's first major nickel plant built by Vale Inco subsidiary PT Vale Inco in Sorowako was officially opened.
1978
Vale Inco Limited registered to do business in Japan and the first shipments of nickel matte produced at Sorowako were made by PT Vale Inco to Shimura Kako Co. Ltd. and to Tokyo Nickel Co. Ltd.
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1980s
1980
Vale Inco announced plans to construct a $21 million cobalt refinery at Port Colborne, Ontario. The facility was to have an annual capacity of two million pounds of high-purity cobalt metal and to employ a new Vale Inco-developed electrocobalt process.
1984
Through Vale Inco's research program, completed the development of a new process for separating precious metals, enabling the company to recover essentially all the gold and silver in its Ontario ores.
Vale Inco Limited reached an agreement with SPAR Aerospace for the joint development of remote controlled underground mining equipment.
1986
The Thompson Open Pit in northern Manitoba, Canada comes into production on schedule, under budget.
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1988
Vale Inco launched "Vale Inco Specialty Powder Products". The new business unit was responsible for producing nickel powders and other powder products as well as being responsible for research, production, planning and marketing.
Vale Inco Limited sold a 20 per cent equity interest in PT International Nickel Indonesia to Sumitomo Metal Mining Co. for $100 million.
Vale Inco became a founding member of the Nickel Development Institute. The institute aims to help the industry defend and expand nickel markets. The institute currently sponsors nearly 100 market development and research projects.
On December 9, a majority of Vale Inco's shareholders approved a "poison pill" plan, which would distribute more than US$1 billion to common shareholders by means of a cash dividend of $10 per share.
1989
Vale Inco was awarded the Silver Medal in the productivity category at the Canadian Business Excellence Awards Ceremony. By dramatically improving productivity, Vale Inco has become one of the lowest-cost nickel producers in the world.
Vale Inco earns an all-time high of US$753 million on record nickel, copper prices.
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1990s
1990
Vale Inco began a $10 million project to expand its J. Roy Gordon Research Laboratory in Mississauga, Ontario increasing the number of research programs involved in the development of new nickel-plating processes and into new, more economical methods of extracting nickel lateritic ores.
1991
Vale Inco announces that a new acid plant will be opened at the Copper Cliff smelter as part of the Company's $530 million sulphur dioxide abatement project.
1992
Vale Inco Nouvelle-Calédonie Nickel S.A. is created with 85% Vale Inco ownership.
1994
Inaugurated new facilities at its Copper Cliff Nickel Refinery for the production of electrode substrates such as nickel foam used in rechargeable batteries, a growing market, including electric vehicle batteries.
Prospectors looking for diamonds discover the Voisey's Bay Deposit in Labrador, Canada.
Vale Inco announced plans to invest US$500 million in the expansion of PT International Nickel Indonesia to increase the plant's capacity by 50 per cent to feed the growing demand for nickel in the Far East.
Vale Inco completes US$530 million sulphur dioxide abatement project at its Sudbury operations.
Vale Inco Limited entered into a joint venture with Jinchuan Non-Ferrous Metals, a major producer of nickel and other non-ferrous metals in China. The new company, Jinco Nonferrous Metals Co. Ltd, would be responsible for producing nickel salts for the Asian market.
Diamond Fields Resources announced potentially significant nickel, copper and cobalt assays from the first four drill holes on the Voisey's Bay project.
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1995
The Voisey's Bay, Labrador nickel-copper-cobalt discovery becomes the largest and most anticipated project currently in development as the first holes in the Ovoid Zone were drilled and the potential of this solid massive sulphide began to be realized.
Vale Inco Limited purchased a 25 per cent interest in Voisey's Bay nickel-copper-cobalt project.
Vale Inco initiated a detailed study to determine the economic feasibility of developing the Nouvelle-Calédonie nickel project in New Caledonia based on the Company's proprietary pressure acid leaching combined with solvent extraction process.
1996
Vale Inco Limited acquired 100 per cent ownership of Diamond Fields Resources Inc. for Cnd $4.3 billion.
PT Vale Inco signed an extended contract of work with the Government of Indonesia for a thirty-year period to 2025.
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1997
Vale Inco Limited announces its plan to build a 12 tonnes per day nickel pilot processing plant in New Caledonia. The project involved building a port, a power plant and a new road, providing some 680 jobs.
Vale Inco Limited plans a US$14.6 million expansion at its Clydach, Wales nickel refinery to increase production of nickel battery material.
Vale Inco announces world-wide restructuring including the closure of several Canadian mines and the Vale Inco New York office.
1998
Vale Inco sells its Vale Inco Alloys International business in the U.S.
1999
Vale Inco officially commissions Nouvelle-Calédonie pilot plant as part of a US$50 million program. Vale Inco has delineated an initial mining zone of 47 million tonnes of proven and probable reserves.
Vale Inco Special Products business unit is established to develop a new and stronger special products business group with responsibility for all business activities related to Vale Inco's family of specialty nickel products.
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2000s
2000
Negotiations on Voisey's Bay breakdown between the Government of Newfoundland and Labrador and Vale Inco.
Vale Inco Limited announced plans to move ahead with a US$48 deepening of its Birchtree Mine in Manitoba that will help extend the mine's life by at least 15 years.
Vale Inco announces that a major deposit at Kelly Lake near Sudbury has concentrations of nickel and platinum-group metals that are richer than those currently mined in its Ontario Division.
Vale Inco Limited ("Vale Inco") received shareholder approval at a Special Meeting to redeem its Class VBN Shares.
2001
Vale Inco announces decision to proceed with the development of an US$ 1.4 billion full-scale commercial operation at Nouvelle-Calédonie Nickel S.A. in New Caledonia. Production is expected to begin in late 2004.
Talks resume between Vale Inco and the Government of Newfoundland and Labrador on the development of Voisey's Bay.
2002
Vale Inco Limited and the Province of Newfoundland and Labrador jointly announced that they have entered into a statement of principles on the development of the Voisey's Bay nickel-copper-cobalt deposits in Labrador. Separate Impacts and Benefits Agreements (IBAs) were finalized with both the Labrador Inuit Association (LIA) and Innu Nation with respect to the project.
Vale Inco began work on a Cdn $115 million project to further reduce SO2 emissions from Copper Cliff operations by 34 per cent using fluid bed roaster (FBR) off-gas scrubbing technology. The project will lower emissions by 34% from 2002 levels by the end of 2006.
Vale Inco announced its plan to undertake a comprehensive review of its Nouvelle-Calédonie nickel-cobalt project in the French Overseas Territory of New Caledonia. Objectives of this review are to assess all information on the project, including the various cost estimates and trends, and determine what changes in the capital cost estimate and the project can be made to maintain the project's economic feasibility.
2003
Vale Inco celebrated the official opening of a mini-pilot plant in Sheridan Park, Mississauga to test its hydrometallurgical processing technology for Voisey's Bay concentrates.
Members of Locals 6500 and 6200 of the United Steelworkers of America staged a 13-week strike at Vale Incos Sudbury and Port Colborne operations.
2004
Having completed and successfully achieved the key objectives of the second and final phase of its Nouvelle-Calédonie project review, Vale Inco announces its decision to proceed with the development of the Nouvelle-Calédonie nickel-cobalt project in New Caledonia.
2005
Vale Inco announces an offer to acquire rival Canadian miner Falconbridge Limited. The offer would launch the most dramatic and complex Merger and Acquisition battle Canada has ever seen.
2006
CVRD announces a $19.4 billion offer for Vale Inco Limited.
2007
Vale Inco shareholders officially approve the CVRD takeover, making Vale Inco a wholly-owned subsidiary of CVRD that would now be known as Vale Inco.
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© Vale 2010
Last Updated: Friday, March 30, 2012
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