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

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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