Why a small Pacific island territory is upending nickel prices
New Caledonia possesses an estimated 25 per cent of the world’s nickel resources and accounts for 6 per cent of global production of the metal.
The tiny Pacific island territory of New Caledonia entered its second week of deadly riots on Monday, with protesters blocking roads and shutting down the airport. At least six people have been killed so far, and dozens of businesses have been looted and burned, prompting France – which governs the archipelago – to impose a 12-day state of emergency.
New Caledonia has been under French control since 1853, and it voted to remain that way as recently as 2021, despite a growing pro-independence movement. However, that movement exploded into violence last week after France approved a constitutional amendment to the island territory’s voting rules that critics say will dilute the representation of the island’s Indigenous Kanak people.
Foreign Policy
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