Nickel Rises to Two-Year High as New Caledonia Site Shuts
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Nickel surged to two-year high as global supply concerns mounted following a plant closure in New Caledonia by Vale SA, the world’s second-biggest producer.
In the South Pacific nation, processing operations stopped after a spill of “acid-containing solution,” a small amount of which entered a nearby creek, Cory McPhee, a Vale spokesman in Toronto, said today in an e-mail. The water quality in the creek is back to normal and Vale expects to “resume production ‘‘shortly,’’ he said, without citing a date.