Inco cuts production amid dwindling nickel price

IDX-listed nickel miner PT International Nickel Indonesia Tbk (PT.Inco) said it would cut this year?s production by 10 percent to 70,000 tonnes sa the company had shut-down its diesel-fueled power plant to cut costs amid dwindling nickel price.

Director Indra Ginting told reporters on Wednesday that the company may further cut production by 20 percent next year if prices keep dwindling.

Inco currently operates 360 MW of power plant, of which 85-MW is diesel-powered.

PT.Inco, which produces nickel from its South Sulawesi mine, is unit of Brazil firm Brazil's Companhia Vale do Rio Doce . (bernard)