Goro - Cobalt mine

The Goro nickel operation has been plagued by capital cost over runs, start up delays and operations issues since commencing production in 2011. Initial capital costs were put at US$1.4 billion, although final costs were closer to +US$6 billion. As of 2024, SPMSC holds a 30% majority stake in Prony Resources. The remaining ownership is split among Prony Resources' employees via the FCPE (12%), local population via the FPRESC (9%), Trafigura (19%), and La Compagnie financière de Prony (30%). Civil unrest in New Caledonia forced Goro to suspend operations for several months in 2024. Despite resuming production in December, Prony Resources cautioned about the operation's financial fragility. Wood Mackenzie’s asset reports are built from the bottom up, incorporating a number of granular data metrics to ultimately produce our industry standard cash operating costs. This report contains a detailed asset note giving you a holistic view of the asset, including an operational overview through to a timeline of events from inception to now. This qualitative analysis is supplemented by the associated Excel download which enables interrogation of a whole series of cost and production metrics over the life of the asset.