The problem with many mining projects is that it may take a very very long time to get going. Ragland in Northern Quebec was known for decades before development and production eventually started. Voisey's Bay was faster, but also took time. In New Caledonia there is nickel by the buckets(as laterites) and finally now Vale and Xstrata finally are building the plants.

NOT suffers the same problem. No "big" owner needs that nickel right now and since they have other expenses(4+ billion for Goro, 4+ billion for Koniambo, plus billions in Sudbury) there is no push to develop the Ring of Fire. A catalyst is needed, just another couple of new good nickel holes and things will change