Inco reports earnings

Fri, 28 Oct 1994, 00:00 WIB | Source: JP

JAKARTA (JP): PT International Nickel Indonesia (Inco), a
nickel mining firm listed on the Jakarta Stock Exchange, reported
yesterday a net earning of US$8.6 million for the third quarter,
as compared to a net loss of $0.4 million in the same period of
last year.

An Inco spokesperson said this indicates the company's
cumulative net earnings this year have increased by 190.58
percent to $24.7 million over the same period last year.

The increase in net earning in the third quarter of this year
was attributed to improved nickel prices and lower production
costs.

Inco, which is controlled by a group of Japanese firms and the
Canada-based Inco Limited, engages in nickel mining in Sulawesi
with a concession of 218,000 hectares. (hdj)

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