So far, Trump has taken little action beyond tariffs of 25 percent on steel and 10 percent on aluminum on imports from China, the European Union and other countries.
New Caledonia has some of the world’s largest reserves of the metal, but its three smelters have faced years of losses linked to high costs and social unrest.
The world's largest copper producer will meet its financial obligations despite headwinds from operational problems and high levels of debt and investments, JPMorgan said.