A South African company is reported to be the most probable bidder for shares in New Caledonia’s Prony Resources. As part of an already advanced takeover of the ailing southern plant of Prony Resources, the most probable bidder is reported to be South African group Sibaneye-Stillwater, local media reported on Monday.
Just like the other two major mining plants and smelters in New Caledonia, Prony Resources is facing acute hardships due to the emergence of Indonesia as a major player on the world market, compounded with New Caledonia’s violent unrest that broke out in May.
Prony Resources has been trying to find a possible company to take over the shares held by Swiss trader Trafigura (19 percent). The process was recently described as very favourable to a “seriously interested” buyer. Citing reliable sources, daily newspaper Les Nouvelles Calédoniennes on Monday advanced the name of South Africa’s Sibanye-Stillwater.
For the rest of this article: https://www.rnz.co.nz/international/pacific-news/528187/south-african-company-sibaneye-stillwater-eyes-new-caledonia-nickel-mining-plant