30 Apr 2014

Optimism for New Caledonia SLN nickel plant

2:52 pm on 30 April 2014

The French nickel mining group Eramet, which has a major smelter in New Caledonia, says its sales fell again in the first quarter of the year but since March prices have bounced back sharply.

The company, which has the SLN plant in Noumea, says production has increased by five percent over the same time last year.

Eramet says it expects sales in the second quarter to rise and the operating results to stabilise after last year's losses.

Last year, the head of Eramet warned that prices were below production costs, attributing the crisis to the huge stocks being produced by China.