A challenge is that seafloor mining immediately starts off at a reputational disadvantage.

Prony Resources is one of three nickel processors in the French territory that face insolvency as high costs and political tensions have hit profitability.

Milestone positions the company as one of the few pure-play copper producers on the ASX, with first revenue from sales coming this week.

The government plans to offer fresh subsidies and loans for a New Caledonia nickel plant co-owned by Glencore.

High costs and political tensions in the French-controlled Pacific territory have left its three processing plants on the verge of collapse.

The Western Australia-based junior is now is working towards resumption of trading on the Australian Stock Exchange in March.

The trading giant declined to contribute more funds as part of a French government rescue package for the New Caledonian mining industry.