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|Inco / Canada Launches To Produce Nickel Concentrates At Voisey's Bay Project|
|= The Shipment Is Two Months Earlier Than November As Initially Scheduled|
Inco of Canada announced on the 15th of September ( local time ) that the Company has succeeded in the first production of nickel concentrates at its Voisey's Bay project in Labrador of Newfoundland. Inco was initially scheduled to have the test run in August of 2005 and to effect the first shipment of nickel concentrates from November. In comparison with this target, the production of nickel concentrates starts two months earlier than that of the original schedule.|
Following the Voisey's Bay nickel project of Canada, Inco has been proceeding the Goro nickel project in New Caledonia and an expansion program of the capacity for nickel production at PT Inco in Indonesia and, accordingly, Inco will be able to increase their nickel production by 35% as of 2009, compared with 236,800 tons of nickel produced in 2004. Inco has achieved a major milestone through the first nickel production from its Voisey's Bay project in a series of nickel projects as mentioned above.
Inco has planned to produce 110 million lbs. ( 49,895 tons ) of nickel in nickel concentrates in the calender year ( January - December ) of 2006 at its Voisey's Bay project, developing also cobalt and copper at the same time. It is anticipated that the supply of nickel concentrates from its Voisey's Bay project will decrease dramatically the quantity of nickel to be purchased by Inco from outside sources. Also, this nickel production at its Voisey's Bay project is expected to contribute substantially to a reduction of cost for nickel production and a matter of cash flow.
In order to fulfill the nickel sales as already contracted, Inco purchased 16,697 tons of finished nickel from outside sources in 2004 and also a certain quantity of nickel ore as raw material from other nickel mines in Canada.
|last modified : Mon 26 Sep, 2005 [10:46]|