The Goro nickel operation has been plagued by capital cost over runs, start up delays and operations issues since commencing production in 2011. In April 2021 it was confirmed that Vale had sold its majority stake in the operation to a New Caledonian consortium known as Prony Resources (60.75%). Vale retained a 23.75% stake in the operation, while Trafigura purchased a 14.25% share. The Government of New Caledonia holds the remaining 1.25% share. 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.