Exiro Nickel closes Thompson Mine Complex acquisition in Manitoba

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Exiro Nickel Thompson Mine acquisition

Highlights

Exiro Nickel completed the acquisition of the Thompson Mine Complex, a site accounting for 10 to 15 percent of Canada’s annual nickel production.
The Canada Growth Fund committed up to U.S.$85 million as part of a broader U.S.$200 million transaction involving Exiro Minerals Corp., Orion Resource Partners and Vale Base Metals.
The investment aims to maintain approximately 675 local jobs, strengthen Canada’s critical minerals supply chains, and support long-term growth in Manitoba's mining sector.

Transaction backing and asset significance

As reported by Canada.ca, federal and provincial officials joined representatives of Exiro Minerals Corp., Orion Resource Partners and Vale Base Metals to mark the completion of the acquisition of the Thompson Mine Complex by Exiro Nickel.

The mining complex sits on the Thompson Nickel Belt, described as the world’s fourth-largest Class 1 nickel sulphide resource globally. It includes two underground mines, a mill and exploration assets, and accounts for 10 to 15 percent of Canada’s annual nickel production.

In February 2026, the Government of Canada announced support for the acquisition through the Canada Growth Fund. Canada committed up to U.S.$85 million, about C$116 million, within a broader U.S.$200 million transaction, about C$280 million, involving Exiro Minerals Corp., Orion Resource Partners and Vale Base Metals.

Impact on Manitoba mining and supply chains

The investment is intended to improve the mine’s competitiveness, support future exploration and development, and maintain about 675 local jobs. It also reinforces Canada’s critical minerals supply chains at a time when nickel remains important for electric vehicle batteries, stainless steel and energy storage systems.

For more than six decades, the Thompson Mine Complex has supported Manitoba’s economy and a large base of skilled workers and contractors. The province says its mining sector supports roughly 2,400 jobs and benefits from mineral resources, a skilled workforce and partnerships with Indigenous communities.

As demand for critical minerals grows, the Thompson operation is expected to remain part of Canada’s broader economic security strategy and North American supply chains. The transaction also strengthens Manitoba’s position as a major mining jurisdiction with long-term growth potential in northern communities.

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