Vale will sell its plant to a Caledonian and international consortium
A Caledonian and international consortium, including commodity trader Trafigura, is in the process of acquiring the nickel plant of Brazilian giant Vale in New Caledonia, Vale-NC announced Thursday. The two parties are in exclusive talks until December 4th in order to close the transaction by January 2021.
"We have a solution to ensure the sustainability of the site and this is good news", declared the president of Vale-NC, Antonin Beurrier. The industrial site threatened to close if no buyer was found by the end of October.
Called Prony Resources, the consortium will consist of 50% of Caledonian interests (provincial community, employees and Caledonian civil society), 25% from the company Trafigura based in Switzerland - one of the largest independent oil and metals traders in the world - and 25% from a multi-party investment company.
The offer received the support of the French government, involved in the operation through a 200 million euros loan granted in 2016 to Vale and tax exemption agreements. "The roundtable brings together funding of $ 1.2 billion to secure the future of the company," said Mr. Beurrier. The site employs around 3000 people directly and indirectly.