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New Century Gets Exclusivity for acquisition of Goro Nickel & Cobalt Mine in New Caledonia Operations of Vale

Mining News - Published on Wed, 27 May 2020

Image Source: New Caledonia vale
Brazilian mining company Vale is in negotiations to sell its nickel operations on the Pacific island of New Caledonia, Vale Nouvelle-Calédonie. The exclusive talks are being held with Australian company New Century Resources. Vale said "The negotiations include a financial package aiming to support the transition and continuity of VNC operations from Vale Canada Limited to NCZ, while the parties also plan to jointly engage with the French State to secure continued financing support.”

New Century Resources Limited has entered into a 60-day exclusivity period to complete due diligence and negotiate the acquisition of 95% of the issued shares in Vale Nouvelle- Calédonie SAS, which owns and operates the Goro Nickel & Cobalt Mine in New Caledonia. Subject to due diligence and negotiation of formal agreements, if the transaction proceeds the financial terms would include a financial package to support the transition and continuity of VNC operations from VCL to NCZ. The parties also plan to jointly engage with the French State to confirm its continued financing support

In New Caledonia, Vale produces nickel and cobalt. The industrial complex, called the Deep South plant includes a hydrometallurgical plant and one central electric operated by Prony Energies’ subsidiary Enercal. The Goro operations include a fully integrated and operational world-class mine, processing plant and port facility

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Posted By : Yogender Pancholi on Wed, 27 May 2020
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