2024-08-21 15:11:47
As prophesied. In the summer of 2023, the Inspector General of Finance made a report to Matignon on the alarming situation of the nickel sector in New Caledonia. Its authors consider the situation “unprecedented”, even “disturbing”, and warn about the closeness of the series of currencies in the sector. Barring any profit, the KNS steel plant in the north of the island will close its doors at the end of the month and 1,200 workers will register for unemployment.
KNS, for Koniambo Nickel SAS, is one of the three nickel production companies in the archipelago along with Société Le Nickel (SLN), a subsidiary of Eramet, and the Goro plant, in the South, operated by the Prony Resources Consortium. In more than ten years of operation, the KNS site has never been profitable and has accumulated almost 14 billion euros in debt. Glencore, one of the main shareholders (49%) next to Province Nord, threw in the towel at the beginning of the year. The Swiss giant has put the ovens on hold and paid salaries for a period of six months, while it looks for a buyer. Ordinary.
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