Glencore to Halt Funding for Koniambo Nickel Plant in 2024
September 27, 2023
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.
