France is holding a summit on 1 October to attract investment to its overseas territories, with New Caledonia's nickel among the assets it wants to promote, though years of political deadlock and unrest have badly weakened the industry. The mine at Thio, one of the world's oldest, has been closed since 2024; some residents hope it will reopen, while many say focusing the local economy entirely on nickel was a mistake. New Caledonia (a French-ruled Pacific archipelago east of Australia) depends heavily on the metal, so the sector's decline raises questions about its economic future.