Koniambo Nickel SAS has a colossal debt of nearly 14 billion euros. The Northern Province is a 51% shareholder and Glencore, which alone bears the financial losses, is 49%.
At the end of 2024, Glencore announced its intention to mothball the site, which would put some of its 1,300 employees out of work. A “nickel pact”, supposed to revive the sector, is currently in negotiations to save the three factories in the archipelago, heavily in debt.