Glencore has announced it will stop financing Koniambo Nickel (KNS) in New Caledonia by February 2024, unless a new financial solution is found. Glencore, a 49% shareholder, is KNS’s sole financier. This move raises concerns over the future of the plant and its 1,350 employees, amid rising production costs and competitiveness challenges facing New Caledonia’s nickel industry.
Glencore to Halt Funding for Koniambo Nickel Plant in 2024
