24 Mar 2009

New Caledonia's Congress endorses legislation on nickel mining

12:02 pm on 24 March 2009

New Caledonia's Congress has endorsed several crucial pieces of legislation related to the nickel mining industry, which is regarded as the backbone of the French Pacific territory's economy.

The Oceania Flash is reporting one of the main pieces of legislation is, for the first time, providing a legal framework for nickel mining operations, on a land that is usually described as holding at least a quarter of the world's nickel reserves.

The pieces of legislation were endorsed unanimously by the 54 Members of Parliament.

The new text, which updates an old French regimentation dating back 55 years, also provides some innovative guidelines with regards to environmental rules to be followed by any mining operator.