Video: Gold mining faces a cliff after 2025, CRU analyst predicts
Global gold production will peak at about 3,250 tonnes (105 million oz.) next year, according to CRU's Oliver Blagden.
New Caledonia’s nickel processing industry remains at a virtual standstill after weeks of unrest in the southern Pacific territory, with Eramet-owned SLN keeping its smelter at minimum capacity and Prony Resources halting its plant.
The riots sparked last month by electoral reform in the French-controlled territory has deepened a crisis for New Caledonia’s loss-making nickel sector in which its three main producers – KNS, Prony and SLN – have been faced with financial collapse.
SLN has managed to transport some ore to its Doniambo plant to keep the furnaces running at the minimum technically necessary, but “the situation remains critical”, an Eramet spokesperson said.
Speaking two weeks ago, Eramet CEO Christel Bories said ore supplies would have to reach Doniambo within days to preserve the furnaces.
With mining still suspended at SLN, the company has transported ore stocks by ship from some of its mines, the spokesperson said.
Prony has halted operations at both its plant and nearby mine for security reasons, a spokesperson said.
KNS had already stopped its mine and plant operations in March for a six-month period after operator co-owner Glencore decided to seek a buyer for its stake.
The French government has been trying for months to negotiate a rescue package for the nickel sector. The immediate prospect of a deal has faded with the focus on restoring order and with France now preparing for a snap parliamentary election.
While violence has ebbed in New Caledonia after extra police forces were brought in, a night-time curfew remains in place.
(By Gus Trompiz; Editing by Jan Harvey)
Comments