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SLN Has Likelihood of Going Bankrupt if Losing Money Continues
=CEO of parent company makes comment company will have to be improved during former half of this year =
According to the local news report in New Caledonia, Ms. Christel Bories, Chairman and CEO of Eramet S.A. made a comment that in case its subsidiary, Societe Le Nickel (SLN) continues to lose money, this company has a likelihood of going bankrupt next year, and will have to be improved by structural reform during the former half of this year and the expected result will have to be obtained.

Last year, Eramet upheld its goal to reduce the production cost at SLN to US$4.00/lb by the year 2020 as one of the new road maps, and SLN planned the structural reform including the changes in the working hours and systems so as to reduce the production cost by a large margin. However, the operation of the mine has been suspended frequently because of the strikes by the labor union against the structural reform and the blocking activities by local resident group against the expansion of the mine, and the company has made a loss of slightly less than US$10 million per month.
last modified : Fri 12 Apr, 2019 [11:23]
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