After the closure of the furnace, KNS, a new Caledonian nickel company, is looking for a new investor.
KNS reported on Tuesday that talks with potential buyers of Glencore's Koniambo Nickel SAS stake are continuing, after the New Caledonian Nickel producer shut down their furnaces at the weekend. KNS, a part of the struggling New Caledonian Nickel industry, halted its mine and factory operations in March, after commodity group Glencore sold its interest. Glencore agreed that it would pay the salaries of the workers and keep the furnaces hot until August. Alexandre Rousseau is the Vice President and spokesperson for KNS.
Eramet Picks Eiffage as Preferred Bidder for Power Plant
Mining group Eramet said on Thursday it had selected Eiffage as preferred bidder to develop a coal-fired power plant in New Caledonia that Eramet hopes will cut its nickel production costs. The power plant, which will supply Eramet's nickel processing site in New Caledonia, is due to come into service by the end of 2018 and expected to cost around 570 million euros. Eramet will make a final investment decision regarding the project in the second quarter of 2015, the company said in a statement.
Vale Posts Record Q2 Iron Ore Production
Brazilian miner Vale said on Thursday its iron ore output in the second quarter was a record high for the period, up 12.6 percent from a year earlier, as it ramped up production to win back market share from Australian rivals. Vale's preferred shares, the company's most traded class of stock, were up 1 percent in early trade in Sao Paulo, looking on track for their biggest gain in a week. The world's mining giants Vale, Rio Tinto and BHP Billiton are all increasing iron ore capacity in a move expected to squeeze higher-cost producers out of the market.
