Page 14 - IB April 2021

Mining

will be implementation of the “Lucy” project, establishing ment of Tesla, the US energy and automotive corporation
dry storage of industrial waste at the site rather than storage headed by Elon Musk. In a statement last July, Musk called
of effluent in a tailings dam. SPMSC will bring in independent on the global mining industry to produce more nickel, a key
experts to monitor the existing tailings dam, revegetate the ingredient in the batteries that power Tesla’s electric cars.
site and establish an independent monitoring committee, The US billionaire offered a “giant contract for a long period
including representatives of local environmental groups that of time” to companies that could supply nickel in an efficient,
have long campaigned against Vale’s pollution. environmentally sustainable manner, noting that “the real
Antonin Beurrier, Chief Executive of Prony Resources said: limitation on Tesla growth is [battery] cell production at an
“Today’s announcement comes after several months of nego- affordable price.”
tiations that have led to the successful transfer of ownership To support the new company in New Caledonia, Tesla will
of the Usine du Sud operation to become 51% owned by local now join the project as a technical and commercial partner,
New Caledonian interests. It ensures a successful and sustain- advising on environmental management and assisting with the
able future for the operation that will preserve 3,000 direct generation and storage of electricity using renewable energy.
and indirect jobs and ensure the successful completion of In the medium term, this partnership could greatly benefit
Project Lucy for dry storage of tailings, the largest private Tesla’s vehicle manufacturing, given the crucial demand for
investment on the island for the next three years, creating nickel in car batteries for new generation electric vehicles.
600 new jobs.” New Caledonia holds an estimated 25% of global nickel re-
As part of the negotiated solution, Vale wrote off a debt of serves, so the looming boom of electric vehicle manufacture
27 billion CFP (US$200 million) owed by SPMSC to its subsid- in the next decade makes these mineral resources a crucial
iary VNC. The French state has offered tax breaks to the new strategic asset. The battle to ensure that New Caledonians
company, a €200 million loan and loan guarantees of a further benefit from the exploitation of their natural resources will
€180 million. Under the deal, the Southern provincial admin- continue in coming months, as the French dependency
istration will reclaim mining titles held by Vale, which can moves towards another referendum on self-determination in
then be reallocated to a future buyer. Vale and Trafigura will 2022.
continue to market part of the nickel metal produced by the
new operation. nicmac3056@gmail.com
The other central element of the new deal is the involve-

TRADE MARK CAUTIONARY NOTICE IN PALAU
Notice is hereby given that Drunk Museum Co., Ltd., of 8F.-1, No. 540-1, Huacheng Rd., Xinzhuang Dist., New Taipei City 24252,
Taiwan (R.O.C.), is the sole proprietor in Palau and elsewhere of the following trade mark:

Used in respect of:-
Class 35:
Retail services relating to alcoholic beverages; retail services in relation to beer.
Class 41:
Nightclub services entertainment; entertainment services provided at nightclubs; dance club services; entertainment club services.
Class 43:
Serving of alcoholic beverages; night club services provision of food; public house services.
The said proprietor claims all rights in respect of the above trade mark and will take all necessary legal steps against any person
or company infringing their said rights.
DAVIES COLLISON CAVE PTY LTD
Intellectual Property
1 Nicholson Street
Melbourne, Victoria, 3000
AUSTRALIA

14 Islands Business, April 2021