Arab Today, arab today cost of xstrata pacific nickel plant jumps to 5bn
Last Updated : GMT 02:29:30
Arab Today, arab today
Arab Today, arab today

Cost of Xstrata Pacific nickel plant jumps to $5bn

Arab Today, arab today

Arab Today, arab today Cost of Xstrata Pacific nickel plant jumps to $5bn

Noumea - AFP

The construction costs of a nickel plant being built in New Caledonia by Swiss miner Xstrata and local firm SMSP have jumped by more that $1 billion, the joint venture said Wednesday. Cost overruns would see the total bill for the Koniambo plant in the French Pacific territory reach $5 billion, up from a previous estimate of $3.85 billion, Peter Hancock, president of Koniambo Nickel SAS, said in a statement. The original forecast had stood since the project was launched in 2007. Hancock blamed inflation and disappointing progress in the construction of the plant for the increased cost, which he insisted would be covered under existing plans to finance the project. He said the plant was due to go online in 2012, as scheduled, with projected annual production of 60,000 tonnes of nickel from 2014. The plant is in an area of New Caledonia\'s main island administered by the indigenous Kanak people, who have injected $167 million via SMSP. New Caledonia is home to vast quantities of nickel, an essential ingredient in making stainless steel, and the project is seen as part of a process of giving greater economic control to the indigenous people. After 25 years, SMSP will have a 51-percent controlling stake in the project.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today cost of xstrata pacific nickel plant jumps to 5bn Arab Today, arab today cost of xstrata pacific nickel plant jumps to 5bn

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today cost of xstrata pacific nickel plant jumps to 5bn Arab Today, arab today cost of xstrata pacific nickel plant jumps to 5bn

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 08:23 2017 Saturday ,24 June

Actress Feryal Yussef received new drama offers

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday