Inco's nickel output stable

Inco's nickel output stable

JAKARTA (JP): PT International Nickel Indonesia (Inco) announced yesterday its production of nickel in matte in Soroako, South Sulawesi, reached 100 million pounds (45,000 tons) last year or similar to last year's output.

Inco's president and chief executive officer, Rumengan Musu, said in a statement that his company produced 27.8 million pounds in the fourth quarter of 1995.

Inco, which is 58.7 percent owned by Inco Limited of Canada, floated 20 percent of its shares on the Jakarta and Surabaya stock exchanges in 1990.

Inco's working contract, which will expire in 2008, will be extended for another 30 years under an agreement to be signed here next week, a source at the Ministry of Mines and Energy said. (04)