Inco Limited

Industry: Mining

Inco continued to make progress on the development of its low-cost Goro nickel-cobalt project in the French Overseas Country of New Caledonia. With its planned annual capacity of approximately 55,000 tonnes of nickel and 4,500 tonnes of cobalt, Goro is expected to position the Company to fully participate in the very favourable market anticipated for nickel over the medium and long term, particularly in China. The Company has reached an agreement in principle covering the acquisition of a 25 per cent interest in the Goro project by a consortium of Japanese companies to be led by Sumitomo Metal Mining Co.,
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