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New bid for Vale assets in New Caledonia

Rnz - Reports from New Caledonia say a rival bid involving South Korean interests has been mounted to buy the Vale nickel plant which is being sold to an Australian company.

Last month, Vale said it had struck a deal with New Century Resources of Australia for the Melbourne-based miner to buy 95 percent of its assets.

A tentative agreement for a sale was signed, with its financing to be finalised within two months.

But the news agency AFP said an unnamed South Korean company is part of another bid by Sofinor, which is the majority owner of the Koniambo plant in the Northern Province.

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