Nickel crisis in New Caledonia rescue or financial abyss Stainless Espresso 1200x630 1

29 November 2023 – The nickel industry in New Caledonia, one of the countries with the world’s largest nickel reserves, is once again on the brink of financial collapse. There is a shortfall of at least 1.5 billion euros and the owners have already rejected further investments. And real estate prices in the United States continue to skyrocket due to the extreme shortage of availability.

Nickel crisis in New Caledonia: rescue or financial abyss?

France, which is committed to rescuing New Caledonia’s severely ailing nickel industry, is facing a crucial deadline: success must be assured by the end of January 2024. The local mining industry is struggling with mismanagement, high energy costs and staffing problems.

The ball is in Paris’ court: rescue operation as a beacon of hope

The rescue operation by the government in Paris could be the last glimmer of hope for New Caledonia. The country, known for its extensive nickel reserves, is a key player in the European nickel supply.

Financial emergency: billion-euro investment on the brink of failure

The three main producers SLN, KNS and Prony Resources are on the brink of financial collapse and urgently need 1.5 billion euros. Without further financing commitments from the main shareholders Eramet and Glencore, collapse is imminent.

Waste of money? Skepticism about the effectiveness of aid packages

More and more money has been flowing into the New Caledonian nickel industry for years without achieving any sustainable improvement. The critical question remains: Where will the €1.5 billion in bailout money sought by France ultimately go and will it really bring about the decisive turnaround?

US real estate market in full swing: prices break all records!

The S&P CoreLogic Case-Shiller House Price Index, which measures price trends in 20 US cities, shot up by 3.9% in September 2023 – the sharpest rise in almost a year! The Federal Housing Finance Agency’s (FHFA) house price index is also chasing records, climbing by an impressive 6.1%.

High tension for home buyers

Despite mortgage interest rates of over seven percent and rising construction costs, demand remains high. Buyers are queuing up and fighting for the rare supply on the US real estate market.

Supply short, prices high

The shortage of supply has driven prices to dizzying heights since January. Experts expect property prices to continue to rise in the coming months. The market remains hot!

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