Koniambo nickel plant in New Caledonia lays off 1,200 staff due to unprofitability and global market challenges.
New Caledonia's mothballed Koniambo nickel plant announces layoff of 1,200 staff, despite efforts to find a buyer. Owned by Glencore (49%) and New Caledonia's Northern province (51%), the plant never made a profit and owes €13.5bn. The nickel industry in New Caledonia faces challenges due to a global market dominated by Indonesian units producing at lower prices, leading to a 48% drop in global nickel prices.
July 29, 2024
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