>Introduction >Shareholder Company >Introduction of SMSP
The largest nickel ore exporter in New Caledonia
SMSP (Société Minière du Sud Pacifique SA) is a Caledonian Mining and Metallurgical Group owned by SOFINOR, the economic tool of New Caledonia’s North Province.
The group is currently the major shareholder of 3 companies in the Territory, namely Koniambo Nickel SAS, 51% owned by SMSP, Nickel Mining Company (NMC), also 51% owned by SMSP, and COTRANSMINE(a 100% SMSP Subsidiary).
SMSP has successfully concluded a joint venture with the Korean steel giant, POSCO, to build and operate a metallurgical plant located in Gwangyang, South Korea. This plant is operated by SNNC, a Korean Company 51% owned by SMSP and 49% by POSCO.
Thus, for each category of nickel ore, a valuation model adapted and developed by SMSP allows to multiply or increase the added value returns.
SMSP's strategy is based on the premise that a natural resource generates much more added value and therefore revenue when processed into nickel metal, and not simply extracted and exported.
It is on this basis that SMSP has entered into onshore and offshore partnerships allowing for the first, to make the local exploitation of a rich ore (Koniambo Nickel) profitable, and for the second to valorize an ore with a lower nickel content in an ultra-efficient and competitive plant such as the one operated by SNNC in South Korea.
An innovative and emblematic economic actor of the Territory, SMSP is an important provider of employment, with nearly 2,800 jobs, 83% of which are local.
New Caledonia also known as French Paradise in the South Pacific has continuously existed for the past 220 million years. It is the world’s largest coral island boasting of beautiful natural environment, and 60% of the entire land is registered as UNESCO Natural Heritage.
Since it appeared as the background of a successful novel titled ‘The Island Closest to Paradise’ that was written by a Japanese female novelist 40 years ago, it has been cited as such a popular destination for honeymooners that as many as 30,000 Japanese honeymooners visit the island every year. Although it was an unknown island in Korea, it has gained popularity as it was introduced as a filming site of a popular TV drama, “Love a Man More than Flowers.’New Caledonia, a French overseas territory, is a beautiful tourism site frequented by many tourists and boasts of stability in terms of politics, society and culture. It is also one of the world’s largest nickel producers, and frequently spotted redcolored soil in the island originates from nickel. In addition to nickel, the island is rich in chrome, cobalt and iron.
L’ile la plus proche du paradis! The island closest to paradise!
Captain James Cook who came from Scotland discovered an island about 2,000 km away from Australia in1774 and named the island that looked similar to his hometown as New Caledonia (The name Caledonian originates from Roman Era in Scotland). New Caledonia consists of various islands such as Grande Terre, Ile Des Pins, Ouvea, Mare and Lifou, and the area of corral reef-surrounded New Caledonia is one third of Korea.