Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Brazilian mining giant Vale will proceed with its sale of the Goro nickel mine and smelter in New Caledonia to a consortium led by Trafigura, which now includes Tesla as an offtake partner. 


According to media reports, the New Caledonia government has finally agreed to the sale, putting an end to months of rioting and blockades, which also hindered operations at Eramet’s SLN facility on the same island. 


Under the new deal, local authorities will hold a 51pc stake in the company, with Trafigura owning 19pc (down from 25pc earlier) and the rest divided among other investors. In a new development, reports now indicate that Tesla will source raw materials, particularly nickel, for its electric vehicle batteries from the site. 

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