By HEIDI ULRICHSEN
The newly appointed president and CEO of CVRD Inco says the people of Greater Sudbury can “expect to see very little change” with how the mining company is run.
Murilo Ferreira was the guest speaker at a Greater Sudbury Chamber of Commerce luncheon Friday afternoon.
“We are aware and very proud of Inco’s place in the Sudbury community, and we are not looking to make major changes in how things are done. It is a very successful company,” he says.
“We have done the integration of two great companies without layoffs...We are very proud of this.”
The new chief financial officer of the company, Leonardo Moretzsohn, was also at the luncheon. Ferreira and Moretzsohn are moving from Brazil to Toronto to run the company.
Ferreira says he’s “a bit astonished” by the cold winter weather in Ontario.
As if to re-enforce his company’s commitment to Greater Sudbury, Ferreira announced a $375,000 donation to the Sudbury Food Bank. CVRD Inco and the Sudbury Wolves hosted Sudbury Saturday Night in aid of the food bank Saturday night.
Food bank president Dan Xilon says this is the biggest donation his organization has ever received, and will provide funding for the next three years.
“This is a wonderful opportunity for the Sudbury Food Bank. It allows us to actually plan for the future,” he says.
“It allows us to put programs in place in schools and such, something we’ve never been able to do before because we’ve never known if we could keep our doors open or not.”
Ferreira says the Brazilian mining giant bought Inco last year because it was a strong company, so he doesn’t see the need to make many changes.
CVRD Inco is now the biggest nickel miner in the world, having surpassed the Norwegian company Norlisk Nickel.
“We bought the company for the assets. We know that Inco’s assets are really impressive. This acquisition was mainly because of people and technology. As you know very well, these people have a tremendous value for us.”
He sums up his company’s strategy for the future like this: “We have one word that is very important for us, and that is growth. The second word is growth, and third word growth.”
World demand for nickel will only increase as the economies of Russia, India and China come on line, he says.
Ferriera says the company is “extremely focused on exploration” at properties in Greater Sudbury, Goro, New Caledonia and Voisey’s Bay. Ore discoveries at Kelly Lake and Totten Mine will become important in the future, he says.
“In 2006, CVRD Inco invested roughly $400 million US in exploration. We strongly believe in organic growth.”
Laterite-based nickel will become more important in the future because it’s cheaper to mine than the ore in Greater Sudbury, which is found deep in the earth, he says.
Laterites are iron and aluminum formations found in hot and wet tropical areas.
