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Corporation Vale will upgrade its assets in New Caledonia

12 December 2018

The Brazilian Corporation Vale produces Nickel. It is the largest producer of this metal in the world. Earlier it was reported that she is looking for a business partner. In the company’s plans included selling part of the enterprise Goro. This mining and industrial complex located on the island of New Caledonia. She considered various options for implementation of the investment project. However, it didn’t work out. In the end, she alone will upgrade the complex.

Upgrade your Nickel project, the Corporation plans in 2019−2022. Size of investment will be about $ 500 million. According to General Director of the company, the consumption of Nickel will grow. Significant growth is expected in the near future. It is illustrated that the metal began to be used actively. It is used in the production of batteries for electric vehicles. As you know, this kind of eco-friendly transportation is gaining in popularity. Because the company is interested in implementation of the project.

Despite the forecasts, the plan for the Nickel on 2019, the company decreased. So it amounted to 244 thousand tonnes. In last year’s forecast, its value was 263 thousand tonnes. However, this can be a short-term reduction. Vale plans to expand the performance of your Nickel complex. Its design capacity is equal to about 60 thousand tons of refined Nickel. At the moment, the real figure is 35−40 thousand tons. This is for a number of reasons. So in the period 2014−2016 the company has some losses. Their total sum amounted to 1.3 billion dollars. Modernizing the complex, the company will increase the performance of Goro. In addition, the cost will be reduced. Today the figure is too high.

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