Vale and the exclusive period of Resources in the New Century ends Nickel assets Trading in New Caledonia fails

SMM9 March 8: it is reported that Vale was unable to reach an agreement with New Century Resources company (New Century Resources Limited) on the sale of New Caledonia Nickel assets (Noveelle Caledonie), the exclusive period of which ends on September 8, begins on May 25 and is extended on July 28.

At this point, Vale's sale of 95 per cent of Noveelle Caledonie's (VNC) shares was temporarily suspended.

The company says it will take the necessary steps to maintain and maintain VNC from now on to deal with potential shutdowns (if a sustainable solution is not found in the coming months).

Noveelle Caledonie owns the Goro nickel / cobalt mine in New Caledonia. Production of Goro began in 2011 and its processing plant has a designed capacity of up to 57000 tons per year, while the refinery has a designed production ratio of 80% nickel oxide to mixed hydroxide, and cobalt is also produced in the form of cobalt carbonate.

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