【Glencore to Close and Sell Its Stake in Koniambo Nickel】Glencore announced on February 12 that due to continued industry challenges stemming from significant nickel price declines, the company will close and sell its stake in the loss-making Koniambo Nickel SAS (KNS) joint venture in New Caledonia. Glencore has funded the project with over $4 billion since 2013, totaling $9 billion since its inception. Glencore has been the main funder of KNS for over a decade, but has never been profitable. Glencore holds 49% of the project, with the remaining 51% owned by French company Société Minière du Sud Pacifique SA (SMSP).