Copying and distributing are prohibited without permission of the publisher

Nickel gleams again in New Caledonia

December 03, 2001 - 11:52 GMT Location: London

With no less than a quarter of the world's nickel reserves, New Caledonia is finally attracting the major players, including Inco, Norilsk and Falconbridge. A range of greenfield projects should see the territory experience a sustained boom, given expected long-term nickel demand, says Robin Paxton.

It has taken a long time and no little deliberation for Russian heavyweight Norilsk Nickel to venture beyond its motherland to seek a new production base. That it should happen in New Caledonia, at a time when Inco and Falconbridge are also pushing forward with ambitious new production plans, is an indication that the French-governed islands in the South Pacific, 1,400km off the east coast of Australia, are gearing up for a new nickel boom.Norilsk struck a deal at the end of July with Australian-registered Argosy Minerals to develop the Nakety orebody in New Caledonia. The Russian company is expected to earn up to a...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

subscribe to this feed Comment & analysis

Upcoming Events

MB Glossary

From Aluminium to Zinc...
Search this free glossary on metals

Try the new Metal Bulletin BETA site...

We've added some great new features and tools which we think you'll find useful including:

  • Easier to find the content suitable for you
  • Improved Price Book functionality
  • Better search function

Simply click 'Yes please' below to go straight to the BETA site (you can return to the original site any time you wish).