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Stock impact report

Prony Resources gears up for nickel production restart at Goro mine [Yahoo! Finance]

D/B/A Sibanye-Stillwater Limited ADS (SBSW) 
Company Research Source: Yahoo! Finance
south of New Caledonia, after a six-month suspension caused by local riots in the French territory, reported Bloomberg The return of the workforce marks a significant step for Prony Resources, one of the three major nickel producers in New Caledonia. Goro mine is designed to produce 57,000tpa of nickel and 5,000tpa of cobalt. Laterite nickel is extracted from an open-pit site, which is processed in a feed preparation plant and treated in a high-pressure acid leach facility. The industry faced near-collapse last year due to plummeting nickel prices, exacerbated by increased production in Indonesia. In August 2023, a government report warned that the sector requires refinancing and restructuring to support EU critical raw materials independence. The report analysed the long-term negative performance of three of France's most significant metals corporations operating in New Caledonia, including Prony Resources. Compounding the economic challenges, New Caledonia experienced civi Show less Read more
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