Business
Vale to shut New Caledonia mine as buyer walks away – MINING.COM – MINING.com
Australian zinc producer New Century Resources will not make an offer for a 95% stake in Vale Nouvelle Calédonie (VNC).
Melbourne-based zinc producer New Century first announced its intention to acquire a 95% stake of Vale Nouvelle Calédonie (VNC), the operator of the troubled Goro nickel-cobalt mine, in May. A final decision on the transaction was expected in July but was deferred to September.
New Century said in a separate statement that its business analysis had concluded there was strong potential for sustainable long-term operations at Goro. Negotiations with various stakeholders, however, did not lead to …
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