Table of Contents
The recent political unrest in New Caledonia may be linked to the unstable nickel market, which is a critical metal for the digital and ecological transition. Despite the increasing demand for nickel in low-carbon technologies, the prices continue to be volatile. The world's leading producers, such as Indonesia and the Philippines, are contributing to the depressed prices. New Caledonia, which accounts for 5.6% of the world's nickel production, is facing tough competition and economic difficulties due to the rise in energy prices and lack of investment. This crisis highlights the dependency of the archipelago on nickel, which accounts for 90% of its exports. The possession of natural resources is no longer a guarantee of development, as seen in the case of New Caledonia, and the concept of a resource curse is being reevaluated in the context of the low-carbon transition. The recent formation of BRICS+ with the entry of Saudi Arabia, Iran, UAE, Egypt, and Ethiopia, reflects a dominant position in the production and world reserves of critical metals. These global dynamics are amplifying the upheavals in commodity markets, which are essential for the current ecological and digital transition.
