France giving emergency payment to SLN to try to save the mining firm ( – Janauary 16, 2023)

An urgent funding boost of $US63 million will be provided to New Caledonia’s SLN to try to save the company. The so-called Urgent Progressional Plan is a short-term measure which could give enough time to formulate a long-term plan to save the company from bankruptcy with the resulting loss of thousands of jobs.

A financial inspection from the Ministry of Finance will be sent to check if the urgent funds are being used to save the company. The Noumea-based mining company has been experiencing serious financial difficulties due to fluctuating global prices of nickel and a lack of investment in company infrastructure.

Its survival was raised by New Caledonian French Member of Parliament Philippe Dunoyer who asked whether the French government was intending to save the mining company before it goes bankrupt.

“Unfortunately, with the Ukrainian conflict, the costs of energy have become harsh, a killing sword for the society.”

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