#Nickel: #Vale #NewCaledonia faces review, possible mothballing

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Image result for New Caledonia nickel plant

The plant’s production costs are too high for it to be profitable and the outlook is poor.

Last November, Vale said a $US200 million loan from the #French state had reduced the risk of it shutting its multi-billion dollar plant.

The funding offer was announced by the French prime minister #Manuel Valls to help shore up the territory’s economy which is reliant on #Nickel production.

One report said Vale New Caledonia used $US1.3 billion in the past three years and has to be shut down.

Read more at: http://www.radionz.co.nz/international/pacific-news/334444/vale-new-caledonia-faces-review-possible-mothballing

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