Top nickel miner Vale turns page on 14-year New Caledonia foray

Vale, the biggest producer of mined nickel, closed a deal to divest its underperforming New Caledonian mine to a group that includes the operation’s managers and workers. The divestment will allow operations to continue and gives Vale the right to a portion of output amid growing demand for the battery metal, Rio de Janeiro-based Vale said in a statement Wednesday. Tesla will support the operation through a “technical and industrial partnership” with the consortium, called Prony Resources.