Nickel Jumps as Unrest Cuts Output in No. 3 Miner New Caledonia
- Voting rule changes in the French territory spurring unrest
- The EV battery metal jumps 5.5% on London Metal Exchange
Eramet SA’s nickel factory in Noumea.
Photographer: Ludovic Marin/AFP/Getty ImagesThis article is for subscribers only.
Nickel jumped more than 5% — the most in a month — as unrest in New Caledonia raised concerns about further disruption to supplies from the French territory.
The South Pacific archipelago, which was the world’s third-biggest producer of the electric vehicle battery metal last year, has been wracked by violent protests this week due to a change in voting rules. That’s disrupted output from French miner Eramet SA, which is running its local unit at minimum capacity.