The question is, why would you want to own this?
The Goro mine owned by Vale is the world’s fourth-largest nickel ore producer and a key economic driver for New Caledonia, employing 3000 people. But it has had a difficult history, benighted by protests, arson attacks and environmental damage. It has also struggled to make money for Vale, despite millions in investment.
We get why you want the mine to exist Jobs, royalties to government and so on. But own it?
A bid for the mine by local company Sofinor, from the northern province of New Caledonia, in partnership with Korea Zinc Co, garnered support from pro-independence parties and Kanak customary leaders who argue majority ownership of the mine should rest with New Caledonians.
Why do you want to own it if it doesn’t make a profit for the people who own it?