Inco sets up new RI venture

Inco sets up new RI venture

TORONTO (AFP): Canadian-based Inco Limited and Japan's Dowa
Mining announced Tuesday that they have entered a joint venture
for copper, zinc, gold and silver exploration in Turkey and
Indonesia.

Inco said that one of its subsidiaries, Dardanel Mining
Industry and Commerce, holds properties in northeastern Turkey
under a lease agreement with Black Sea Copper Works.

These properties are considered to have a high potential for
mineral deposits, the company said.

Through its subsidiaries Ingold Holdings Indonesia and Maluku
Holdings, Inco holds an 85 percent interest in the rights to
approximately 100,000 hectares (247,000 acres) on the minerals-
rich Indonesian islands of Haruku, Ambon, Nusa Laut and Saparua.

Dowa can earn up to 49 percent from Dardanel in Turkey and
Maluku Holdings in Indonesia by contributing exploration funding
over two years to the Turkish properties and three years to the
Indonesian ones.

Inco is a leading producer of nickel, copper, precious metals
and cobalt.