“The price of pure nickel on the London Metal Exchange (LME) has just fallen to 16,000 dollars. This is the lowest price for just over a year.
According to Reuters, France’s Finance Ministry has announced that France will continue negotiations until the end of February to save New Caledonia’s nickel industry. “Negotiations will continue until the end of the month,” said a Finance Ministry spokesperson, adding, “Later is not possible, as the financing needs are immediate.” Bruno Le Maire, the French government’s finance minister, estimates the short-term financing needs of New Caledonia’s three nickel processing groups, SLN, KNS and Prony Resources, at €1.5 billion (A$2.4 billion).