Valls asks Caledonian provinces to bail the nickel sector – Le Figaro

The Prime Minister wants to see local government finance part of the losses of the SLN (Société Le Nickel), a subsidiary of Eramet, via a loan of 200 million euros that the state would grant them .

special correspondent in Noumea

She was the flagship of the Caledonian economy up that nickel prices collapsed due to the slowdown in China and the global oversupply. SLN (Société Le Nickel) encounter serious financial difficulties. Each month, the company employs over 2,200 people in New Caledonia loses about 20 million. Eramet, its majority shareholder with 56%, it agreed in December 2015 a loan of 150 million euros. But the Duval family, the majority shareholder of the group to which the State capital is also present in 26% via the agency of state ownership, is not willing to go further. Especially since the other shareholders of the SLN, including three New Caledonian provinces that hold 34% stake via STCPI (territorial Caledonian Society of industrial holdings), have not moved in this stage, for lack of funds. It is therefore urgent. Especially since the expiry of the referendum on full sovereignty for New Caledonia approaching. This large consultation is scheduled for November 2018.

And it is precisely the SLN, the site Doniambo that on Friday visited Manuel Valls, the first day of his visit to New Caledonia. This gigantic industrial complex, located in the center of Noumea, is impressive: 1250 employees on average 55,000 tons of nickel produced each year, an area of ​​250 hectares. Manuel Valls has visited during one hour. While the company’s survival is now at stake, it is not hidden the seriousness of the situation. “The duty of a prime minister, at least that’s how I see my job is not to silence the problems, do not minimize (…) Let us look at the situation opposite: yes the situation is serious, “he warned, arguing that” very hard to overcome this crisis, everyone will have to make efforts. ” Everyone, that is to say, the employees, the shareholders, but also the state. “The survival of the Caledonian nickel or collective will, that I refuse to consider failure will be collective,” said he still warned.

In an attempt to save the company, the Prime Minister has made several proposals. He has called STCPI to the rescue because he has said, “If Eramet must do more, she can not bear alone the fate of the SNL.” The Prime Minister wants to see the three provinces of New Caledonia to help the company. And, as they do not have the means, the state is ready to make a loan that they “may be up to 200 million euros.” The terms of this “intervention” are currently “in discussion with all shareholders,” said Manuel Valls.

While investment projects were frozen, Premier also offers SLN and its shareholders to secure bank financing of the new power plant that would allow the company to replace the current Central, obsolete, and reduce costs. This warranty is an important effort by the state since the new plant represents an investment of 800 million to one billion euros. Manuel Valls, who appeals to all stakeholders, has issued this warning: “Everyone is responsible for his choices.”