$7-billion Koniambo Nickel Project Officially Opens

Mining Weekly reported that the $7-billion Koniambo nickel project, located in New Caledonia, was officially opened by the president of France on Monday. The project is a joint venture between Glencore plc (LSE:GLEN) and Société Minière du Sud Pacifique.

As quoted in the market news:

New Caledonia-based SMSP, a nickel-ore exporter with JV processingoperations in China and South Korea, is a founding partner in the 2 000-employee Koniambo, a ferronickel exporter.

Under way since 2007, the project will make use of state-of-the-art infrastructureand proven nickel smelting technology.

The majority-Glencore-financed project provided 2 750 direct local jobs, 1 500 indirect jobs and 150 000 hours of training, injecting €1.9-billion worth of direct benefits into the area.

Click here to read the full Mining Weekly report.