Diversified metals and mining company Xstrata plc (XTA.L) Thursday said Xstrata Nickel's Koniambo Nickel project has gone into production with first metal tapped this week. The firm considers the production a key milestone for the $5 billion greenfield project in New Caledonia, which has been under construction for the past six years.
The company further said, at peak production, the mine will further cement New Caledonia's position as one of the most important nickel producers in the world and provide steady employment for approximately 800 workers, with a focus on local employment, and indirect employment for thousands of others.
Commenting on the development, Ian Pearce, Chief Executive of Xstrata Nickel said, "The production of first nickel metal at Koniambo after six years of complex design and construction is a huge achievement and a source of great pride for all of our employees. We are on track to deliver the full production rate of 60,000 tonnes per annum by the end of 2014 as scheduled, while maintaining excellence in terms of environmental and safety performance at this world-class industrial complex."
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.