Eramet : Vale throws in the towel in New Caledonia. A major implication for Eramet subsidiary Société Le Nickel. Catalysts pile up. Buy vs Neutral
>Vale announces closure of VNC, its nickel subsidiary in New Caledonia - The CFO of Brazilian group Vale, Luciano Siani Pires announced yesterday that Vale New Caledonia (VNC) would discontinue its activity at the start of 2021. Vale is therefore throwing in the towel, having tried in vain to sell its 95% stake in VNC (23.4kt of nickel produced in 2019) to the Australian group New Century Resources. This news might seem surprising as VNC produces category 1 nickel req...Eramet is a mining and metallurgical group, which specializes in the extraction, production and marketing of non-ferrous metals, their chemical derivatives, alloys and superalloys, and parts. Co.'s operations are divided into three divisions: Nickel division which focuses on nickel and its derivative applications; Manganese division which focuses on manganese alloys, manganese chemical derivatives and provides recovery and recycling services of metals contained in oil-industry catalysts, electric batteries and acid solutions; and Alloys division which produces and sells special high-performance steels, superalloys and pre-machined parts based on these materials or aluminium and titanium.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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