28 Aug 2007

Decision on nickel plant in New Caledonia to be revealed in September

9:49 am on 28 August 2007

A decision on whether to build the proposed Koniambo Nickel plant in New Caledonia will be revealed in September.

The Swiss mining company Xstrata and the majority stakeholder, the New Caledonian company SMSP, met in Toronto recently to review the northern project, which is estimated to cost three billion US dollars to build.

The SMSP company, which is controlled by the mainly Kanak northern province, will meet on September the 7th to discuss its decision.

The companies will meet separately to make their decisions on the Koniambo project that could increase economic development and employment in the northern province.

If the plant goes ahead, production of the Koniambo is set to begin in 2009.