The company’s base metals unit, which focuses on metals like nickel and copper and is headquartered in Toronto, could be ready to go public by 2027, Vale Base Metals CEO Shaun Usmar told Bloomberg. Board chair Mark Cutifani estimated last year that the unit was valued at about US$40 billion. (Bloomberg)

Talking point: The Brazilian mining giant could use the plan to raise money for its mines in Canada, Brazil and Indonesia, which mine metals that can be used for in-demand products like electrical wires and batteries. That money could be vital for projects like the nickel mine in Thompson, Man., which is under strategic review and employs about 900 people in the 13,000-person town. The nickel business has been volatile over the past two years after Indonesian companies flooded the market with the metal, tanking prices. Australia, India and South Korea endorsed a plan to stabilize critical minerals markets at the G7 meeting this week in Alberta.