Vale’s patience with loss-making New Caledonia nickel project is over, exec says

Brazilian diversified miner Vale expects its New Caledonia nickel operation (VNC) to continue to cut costs over the next few quarters.

In fact, it has to, as the company has warned that it has lost patience with the loss-making asset.
“We have been very patient with them, but the patience is over,” Jennifer Maki, Vale’s head of base metals, said during a conference call with analysts on Thursday April 28.

The world’s largest nickel producer continues to evaluate all options for VNC project, which was acquired in 2006 when Vale bought...

Published

Danielle Assalve

April 28, 2016

16:23 GMT

São Paulo