Xstrata is on schedule to open its Koniambo nickel plant located in the French Pacific territory of New Caledonia for 2012. Just northeast of Australia, the project is located in an area administered by the indigenous Kanak people, who have invested USD 167 million through a company SMSP. The 60,000tns/yr facility is two-thirds complete and has used USD 2.2 billion of its USD 3.8 billion price tag. The launch of this facility will mark the first time Xstrata develops organically as all of their previous growth relied on acquiring existing projects. Once the plant opens the Kanak owned company will collect 12% of the dividends.
