3 Oct 2012

New Caledonia approves ore sale to Queensland

1:45 pm on 3 October 2012

The New Caledonian government has approved the sale of laterites, or nickel ore, by three local companies to the Australian company, Queensland Nickel.

A government statement says the sales are authorised until the end of March.

They affect the three companies, Gemini, SLN and Societe des Mines de la Tontouta.

The total quantity of ore to be sold is in excess of just one million tonnes.

New Caledonia has about a fifth of the world's known nickel deposits.