Rioters Turn to Arson at Vale’s Goro Nickel Plant

Reuters reported that rioters angry about the recent chemical spill at Vale SA’s (NYSE:VALE) Goro nickel plant, located in New Caledonia, set fire to vehicles, equipment and buildings at the plant this past weekend.

The plant was closed earlier this month as a result of the spill.

As quoted in the market news:

Tensions between the local population and Vale escalated over the weekend with young protesters frustrated at the latest spill by the Brazilian-based giant and a lack of response from indigenous Kanak chiefs, according to local media. Television footage showed images of burnt mining vehicles and equipment.

‘There was damage at the site, but no damage to the plant. We had burned vehicles, one administration building was damaged, but no damage to the plant itself,’ Vale spokesman Cory McPhee told Reuters.

Peter Poppinga, an executive director at Vale, told Les Nouvelles Caledoniennes newspaper that damage to the mining site was estimated at at least $20 million to $30 million, including the destruction of perhaps one third of the truck fleet.

Click here to read the full Reuters report.