State Support Boosts Nickel Sector Recovery in New Caledonia
The nickel sector in New Caledonia is set for a revival with state support aimed at enhancing productivity and competitiveness. Measures include guaranteed loans for major operators and a subsidy for energy transition, including the construction of a pumped energy storage station. Ongoing negotiations for the KNS factory's sale and the upcoming launch of the Lucy project for residue storage signal further development. Meanwhile, global nickel prices rise slightly, although challenges remain from overproduction and reduced consumption.
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The nickel sector in New Caledonia is experiencing a potential recovery with state support announced in late January. The Sud Lait Nickel (SLN) aims to regain productivity by 2030, while discussions continue for a potential buyer for the KNS factory.
The government plans to provide emergency loans and subsidies to support the transition to renewable energy, including a pumped energy storage station to lower industrial electricity costs. Prime Minister Sébastien Lecornu announced funding for infrastructure to decarbonize the energy mix.
Global nickel prices have slightly increased, but overproduction and lower demand pose challenges. Indonesia, the world's leading nickel producer, aims to produce greener nickel and reduce foreign investment dependency.
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