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