Brazilian mining giant Vale said it had doubled its exploration budget in the greater Sudbury area to almost $42 million.
The $10 million of that expanded funding will go into underground exploration.
Vale said the doubled money reflects a positive outlook for the future of the nickel market and that the purpose of the increased funding will discover new sources of ore to sustain its mining operations in the area.
This includes approximately 30 active exploration projects and 13 drill rigs currently in operation.