Société Minière du Sud Pacifique SA (SMSP) is a mining and predominantly metallurgical company, owner of concessions portfolio, APM authorisations, conducts studies and research works to add value to its mining assets. Through its joint ventures, SMSP is also involved at different levels in operational and financing management of partnerships set up.
NORTHERN PROVINCE
The Northern Province, like the other two Provinces in the Caledonian Territory, decided to create a limited company (SEM) in 1990 to enable it to take over SMSP. This was a way for the local authority to participate in and to steer the economic development of the Northern Province.
Due to its almost exclusively nickel focus, and in order to improve its management, the Province decided in 2014 to split SOFINOR into two separate structures: SOFINOR, dedicated to the management of nickel assets, and Nord Avenir, responsible for developing other so-called diversification projects.
In December 1991, the Northern Province also decided to integrate SODIL into the SMSP shareholding structure. This was undoubtedly a political choice, but it was also a way of integrating the Loyalty Islands Province, which does not own a mine.
The governance of SMSP is therefore the result of the controlled interaction between the SMSP Board of Directors and the SOFINOR Board of Directors.