New Caledonia Vale's nickel plant fuels fear of mass lay-offs

Unions in New Caledonia fear that the Vale nickel plant could close within half a year and trigger the biggest wave of job losses the territory has seen.

The multi-billion dollar plant, with its huge ore deposits, power station and port, has been running at a loss as the price of nickel has dropped below production costs.

For its owner, Vale of Brazil, which is the world's biggest iron producer, this cannot continue.