PT Inco's 2005 nickel output exceed target
Friday, February 3 2006 - 12:48 AM WIB
PT International Nickel Indonesia's , or Inco's, 2005 nickel output may have exceeded a target of 160 million pounds, Dow Jones Newswires reported on Thursday.
"Nickel production in the full year of 2005 should exceed our target of 160 million pounds," said Sri Kuncoro, a director of media relations at Inco.
He declined to provide figures for last year's sales or other key financial figures, but said revenue will continue to grow in 2006.
At the end of September, sales rose 8.6% on year to $653.73 million on higher nickel prices.
For 2006, he expects global nickel sales to grow 3%-4% due to a 6%-7% increase in demand for stainless steel.
Canada's Inco Ltd. (N) owns a 60.80% stake in Inco Indonesia, which began exploration operations here in 1968.
Inco has a nickel mining license covering 218,000 hectares on the island of Sulawesi. (*)