South Korean steel-maker receives permissino for New Caledonia mines

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Updated July 8, 2008 16:48:11

The big South Korean steel-maker POSCO says it's been given the official go-ahead to develop five nickel mines in New Caledonia.

POSCO says the 30-year deal will ensure an annual supply of 30,000 tonnes of nickel for export to South Korea.

The South Korean company is the world's fourth-largest steelmaker.

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