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New Caledonia's largest private sector employer SLN fears insolvency

Christian Fernsby ▼ | July 13, 2020
New Caledonia's largest private sector employer, the SLN nickel company, has warned that it risks running out of money by the end of the year.
Insolvency   SLN
The company said it needed a capital injection from its minority stakeholders as the majority stakeholder Eramet would not give any more advances.

Topics: New Caledonia SLN

It appealed to the three New Caledonian provinces which jointly own about a third of SLN.

McGibbon said after improving export returns earlier this year the Covid-19 pandemic complicated matters.

He said to help SLN survive, electricity costs needed to be lowered and a permit to be issued to allow SLN to export two million tonnes of nickel ore.