There's an interesting piece on Google News this morning from the Montreal Gazette regarding Vale's plan to close its smelter and refinery in Thompson Manitoba. Unfortunately, I am unable to post the link.

It is stated that this faciliity is the Town's main employer and that when Vale acquired it, our Fed Govt granted Vale One Billion of our taxpayer dollars against a promise to increase employment. Now, apparently, they want to walk away from it and Michael Moore, controversial U.S. documentary maker has entered the fight to keep the plants in Thompson.

Seems striking, considering the conjecture that Cliff's proposed smelter could be set up in Manitoba to take advantage of low hydro rates. I wonder what Vale's rationale is for moving these works? All about globalization and rationalization I suppose. Quite the push/pull between huge corporations looking for cheaper production costs and local interests fighting to acquire and retain industry.

Seems to me that it adds to the case for Noront proceeding to mine and process its own ore rather than sell out. There are a myriad of other factors in play, of course.

O.F.