The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Basic Metal And Fabricated Metal Products Manufacture Of Basic Metals 24 - Manufacture Of Basic Metals
1,150 - 1,200 jobs Number of planned job losses
Announcement Date
26 July 2024
Employment effect (start)
29 July 2024
Foreseen end date
31 August 2024
Description
In great financial difficulty since the start of the year, the Koniambo Nickel Solutions (KNS) plant in New Caledonia, owned by Glencore, has announced that it will be shedding 1,200 jobs by 31 August, in the absence of a buyer. Only around fifty people will remain to keep the plant on ‘cold standby’. Although three groups are showing an interest, no concrete offer has been made. The factory also used subcontractors, employing some 500 additional people.
In March 2024, the government came up with a ‘Nickel pact’ to save this strategic industry, that included subsidies for energy prices, investment in New Caledonia's electricity system and better access to mining resources in the territory. This pact contains respective commitments to be made by the State, local authorities, companies and their shareholders. Its signature was postponed several times. As the Nickel Pact remains on hold, it affects other plants such as the Doniambo ferronickel plant and Prony Resources, both of which are in financial difficulty.
Eurofound (2024), Koniambo Nickel, Closure in France, factsheet number 201438, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201438.
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