RE: cliffs fight A major shift is taking place with Glencore now buying the balance of Xstrata who own the Falconbridge & Noranda Cnd Entities. Also in the past, Vale who own the Inco Cnd Entities had considered buying Xstrata subject to Xstrata wanting Sale Agencies.
Xstrata Falconbridge own 49% of Koniambo in North New Caledonia which just poured it 1st FeNi after a +$6 billion investment mostly funded by Falconbridge/Xstrata.This was a huge overrun. Vale are also in New Caledonia with huge overruns, startup & other problems at their Ni Co Refinery in South NC.
The Kanak People who own SMSP own 51% of Koniambo NC & also 51% of a FeNi plant in S Korea plus mines in NC; Posco S Korea own the 49% balance.
Glencore in the process of getting China's approval to own Xstrata 100% said they might sell the Falconbridge Entity 49% of Koniambo.
The above partly highlights the strong role the ROF-related FN need to have especially with KWG.
The NC Kanak people did not have the French Govt on their side for decades. As such, they made sure to choose the right leader who, looking back, turns out to be quite like KWG's Frank Smeenk.
Smeenk on behalf of the FN has a huge adavntage as the PM of Cnd is supportive seeing the urgency of ROF NS RR construction starting now. The sooner the PM makes this very clear, the better.