Inco announces reorganization

As part of its global growth program, Canadian nickel miner Inco Limited on Friday announced a re-organization of its global operations into two distinct units - Asia/Pacific and North America/Europe Operations.

As part of the re-organization, Inco will establish an office in Australia as an administrative base for its Asia/Pacific operations and business development.

"This new organization supports our aggressive growth and our drive to be the world's leading nickel company," says Chairman and CEO Scott Hand. "In particular, it recognizes the growing importance of our Asia Pacific operations as we build the Goro project in New Caledonia, and expand our PT Inco operations in Indonesia."

Inco currently sells some 60 per cent of its nickel to Asia. "We expect China to remain a key driver of the nickel market and our Asia Pacific operations are ideally positioned to meet growing demand from China and the rest of Asia going forward," said Hand.

Hand says Inco made a strategic decision to locate its Asia Pacific office in Australia. "We are increasingly active in exploration in Australia both on our own and with other partners, and we are interested in exploring future opportunities in the region."

The company has appointed Logan Kruger, formerly Executive Vice- President, Technical Services, as President, Asia/Pacific. In his new role Kruger will continue his responsibility for Goro Nickel, and will also be responsible for PT Inco, as well as future exploration and mining opportunities in Australia, the Philippines and elsewhere in the region.

Mark Cutifiani, formerly President of Ontario Operations, takes on the role of President, North America/Europe Operations with responsibility for Inco's Ontario and Manitoba operations, as well as responsibility for Inco's UK Operations, beginning in 2006.(alex)