New Caledonia nickel deal cancelled

Posted on August 9, 2014 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

The new president of New Caledonia’s southern province has cancelled a deal with two major nickel companies to explore a huge ore deposit.

Philippe Michel says last April’s memorandum of understanding with Eramet of France and Vale of Brazil is illegal on five counts, breaching processes and conventions.

Mr Michel also says it involved a secret deal between the two companies and his predecessor, Cynthia Ligeard, who this year has become the president of the territorial government.