PT.Inco records increased Q3 production
Tuesday, October 25 2005 - 06:02 PM WIB
Canadian miner Inco Limited said on Tuesday its Indonesian unit PT.Inco produced some 44 million pounds of finished nickel were produced from nickel-in-matte during third quarter of the year compared to 38 million pounds produced same period last year.
The company said PT,Inco is on track to produce 160-162 million pounds of nickel this year.
The company said it had already pocketed most of the government approvals and expect to get the remainder soon, which will let the company to begin major construction this year. Inco is planning to expand South Sulawesi operations by spending US$275-to-$280 million to raise production and hydroelectric power output to enable the company to produce about 200 million pounds of nickel in matte annually by 2009 and lower nickel unit cash costs by $0.10- to-$0.15 a pound.
Inco has 61 percent shares in the JSX-listed PT.Inco.(alex).