The Swiss-based mining conglomerate Glencore has confirmed its commitment to New Caledonia's Koniambo nickel plant.
The territory's public broadcaster says this follows talks between the French overseas minister, George Pau-Langevin, and the head of the conglomerate's nickel division.
It reports that a deal has been struck for tax relief for a power plant at Koniambo while Glencore has assured that no decision about its future engagement will be made before December.
Glencore has a 49-percent stake in the seven-billion US dollar Koniambo nickel plant which last year needed a furnace rebuild at a cost of about $US 60 million.
Late last year, Glencore warned of a possible pull-out, saying the company was not in the business of burning cash.
The Koniambo plant is majority-owned by SMSP, which belongs to the pro-independence northern province and is seen as a key element in efforts to re-balance the territory's economy dominated by the southern province.
The Koniambo Nickel plant in North Province, New Caledonia. Photo: AFP