New Caledonia's Nickel Fund Releases $500,000 For Flood Repairs

East Coast around Houailou hard hit by heavy rains in November

WELLINGTON, New Zealand (Radio New Zealand International, Jan. 4, 2017) – New Caledonia's Nickel Fund has released almost $US500,000 in a one-off payment to repair flood damage in Houailou.

The town on the main island's east coast was hit by unprecedented downpours in November when eight people perished in the floods.

The Fund was set up to help the territory's nickel industry through difficult times.

Last week, the Congress approved half a million US dollars to help the town's nickel sector.

Last year, nearly $US2 million was disbursed to small nickel-related businesses in Canala, Kouaoua and Thio to help them cope with the slump in the price of nickel.

Radio New Zealand International
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