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SMSP's Group: a 100% Caledonian company |
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The Chairman and CEO of the SMSP group has presented the results of the financfal year 2008 - 2009 to the Board of Directors on the 23rd of Decembre 2009. These results are fresh proof of the success of our clearly affirmed strategy of diversification. This strategy is founded on a desire to integrate the structuring projects and local growth central to North Province policy into the development of our vast mining resources and sustainability of the metallurgy industry as a lever for wealth. It is supported by a combination of majority holdings in mining and metallurgy assets, outstanding marketing skills and, finally, enhanced experience in the field of mining operations.
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The first results of the SMSP POSCO partnership with the SNNC and NMC joint ventures reaching their full production capacity
In times of crisis, the subsidiary and industrial branch SNNC has generated profits from the beginning of the year 2009 and on the 31st of December the net income totalled Wons 85 billion, or approximately 6 billion XPF. Note that the full production capacity was achieved at the end of the year.
To maintain this level of activity the mining branch and subsidiary NMC has entered a phase of reorganisation of its mining centres with the introduction of the double shift, first in Poya, then on the other centres. Furthermore, after an upgrading program of the fixed production facilities, the NMC is preparing to invest in a new facilities of greater capacity. An investment of several billion XPF will be committed to renew and modernize its equipment and fleet.
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The North plant: The construction phase goes on
The construction program of the North plant led by SMSP's other subsidiary KNS, in patnership with Xstrata Nickel, continues with the arrival of the first modules scheduled for mid of this year. By the end of 2010, some 4,000 people will be working on site at Vavouto and the assembly phase will provide a spectacular vision even more concrete of the construction. The start up of the North plant is scheduled for mid 2012 with full production capacity for 2014.
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SMSP : A growing mining and metallurgical enterprise in pass to become the world leader of ferronickel production by 2014
Since SOFINOR acquired SMSP in October 1990 with the aim of facilitating rebalancing under the terms of the accords, shareholder equity has jumped from 2.5 billion to reach nearly 27 billion XPF in 2006. On 2 June 2006, SMSP acquired its subsidiaries: SAM3NC, LA BIENVENUE, NICKEL MINING CORPORATION and NOUMEA NICKEL, bringing the amount of the company’s capital 394,863,200 XPF.
The objective of the SMSP group for 2014, with the full production capacity of the two processing plant at Gwangyang and Vavouto, is to become the world leader in the production of ferronickel.
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Its performances