Vale (VALE) said Thursday that its unit, Vale Base Metals, has agreed with Exiro Minerals, Orion Resources Partners, and Canada Growth Fund to form a four-party consortium of owners for the Thompson Nickel Belt in Manitoba.

Exiro, Orion, and CGF will control 81.1% of the newly created entity, leaving Vale Base Metals with an 18.9% minority interest, the Brazilian miner said.

The consortium partners have pledged to inject up to $200 million to support ongoing extraction efforts at the site, Vale said.

Vale said its base metals unit has secured a contract to purchase the refined materials produced at the local milling facility.

The deal is anticipated to be finalized by the end of the year, the company said.