Trafigura, VNC move to jointly acquire Vale's Goro nickel-cobalt ops - source

The management board of Vale New Caledonia (VNC) has moved to acquire parent company Vale's Goro nickel and cobalt operations in the region with the aid of Swiss commodity firm Trafigura, Fastmarkets learned on Tuesday October 27.

Under the terms of the current acquisition proposal, submitted to Vale on October 21 and led by VNC's current management, Trafigura would hold a 25% stake in the asset with unfettered marketing rights to all production, an industry source told Fastmarkets.

The majority of the remaining 75% share capital would be divided between Caledonian interests with 10% given to the region's Société de participation Minière (SPMSC), which represents the three provinces of New Caledonia, 5% going to the civil society...

Published

Amy Hinton

October 27, 2020

16:04 GMT

London