Falconbridge nixes French funding plan for Koniambo

Dec 01, 2005 | 02:25 PM | Rory Carroll

Falconbridge Ltd. will work quickly to find a new financing deal for its $2.2-billion, 60,000-tonne-a-year Koniambo ferronickel project in the northern province of New Caledonia, but if it is unsuccessful the project could be in serious jeopardy, the Toronto-based miner said Thursday.

Word spread Thursday that the company had rejected the latest financing plan from the French government, which controls the Pacific island. The company confirmed it is talking to other possible investors but declined to disclose names.....

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