Wednesday March 14, 4:39 PM
Indonesia Inco plans to build $1 bln nickel plants
JAKARTA, March 14 (Reuters) - The Indonesian unit of Canada's Inco Ltd. plans
to build two nickel-processing plants at a cost of up to $1 billion to tap
increasing demand for the anti-corrosive metal used to make stainless steel,
its chief said on Wednesday.
Arif Siregar, the president director of PT International Nickel Indonesia Tbk ,
said the plants will be located in Pomala and Bahudopi towns on Sulawesi island
and will cost $500 million each.
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The firm has yet to decide the type of plants but is considering building
either ferro-nickel or high pressure acid-leaching (HPAL) nickel plants,
Siregar said.
Each plant is expected to have an annual capacity of between 35-40 million lbs
of nickel, but the exact capacity will depend on the technology used, Siregar
said.
He said construction on the Bahudopi plant was expected to begin by 2010 but
there was no date set yet for the plant in Pomala.
In February 2003, PT Inco signed an agreement with state-controlled miner PT
Aneka Tambang Tbk to jointly develop Inco's contract area in Pomala, in which
Inco is to mine the saprolitic ore, while Antam will conduct the smelting
process.
PT Inco, which is owned by Brazil's Companhia Vale do Rio Doce through Canada's
Inco Ltd., said it will produce between 155 to 165 million lbs of nickel in
matte in 2007 depending on rainfall the rest of the year.
The company's output fell 6.24 percent in 2006 from the previous year to 157.9
million pounds of nickel in matte.
PT Inco said its 2006 net profit surged 91.7 percent to $513.4 million, while
sales rose by 51 percent to $1.34 billion during the period.
Nickel prices at the London Metal Exchange have surged more than 30 percent so
far this year compared with the end of last year supported by limited stocks.
Three-month nickel rallied to a new record of $44,750 a tonne on Tuesday.
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----- Original Message ----
From: Bettina Tan <[EMAIL PROTECTED]>
To: obrolan-bandar@yahoogroups.com
Sent: Thursday, August 2, 2007 8:27:44 PM
Subject: Re: [obrolan-bandar] Inco Unit to Build 2 New Nickel Plants
Be careful guys.. many of the fact in this news are not correct.
Canadian [Brazillian] nickel miner Inco Ltd.'s [CVRD Inco] Indonesia unit plans
to build two new nickel plants on Sulawesi island at a cost of $2.5 billion, an
Indonesia executive said Thursday [Who the hell is he?].
"We expect to start building the plants next year in an effort to increase our
nickel output to 300 million pounds by 2016," said Arif Siregar, chief
executive of PT International Nickel Indonesia, or PT Inco. [In what occasion,
where, when did he say that? Is this another shit or what, even Karebbe Dam has
not been finished yet, pulverized coal project has just been in feasibility
studies for years! Pomalaa concession is in problem and possible to be taken
back by RI government, Bahodopi concession are also the same, leeching
technology, they call it HPAL has not been completed. Another 2 plants? I do
not believe it]
The Indonesian company's nickel output this year is expected to be 165 million
pounds [stagnan output with decreasing price of nickel? This year profit
expected to be lower than last year.. ] .
Arif said PT Inco, 61 [72 if I am not mistaken] percent owned by its Canadian
[Brazilian] parent, will launch an engineering study in September to decide the
financing structure for the development of the plants. [What could I say then..
it is bullshit]
On 8/2/07, Eka Suwandana <[EMAIL PROTECTED] com> wrote:
Wah wah wah saham ini bisa buat anak cucu juga!
Inco Unit to Build 2 New Nickel Plants
Thursday August 2, 4:24 am ET
Indonesian Unit of Inco to Build 2 New Nickel Plants on Sulawesi Island for
$2.5 Billion
JAKARTA, Indonesia (AP) -- Canadian nickel miner Inco Ltd.'s Indonesia unit
plans to build two new nickel plants on Sulawesi island at a cost of $2.5
billion, an Indonesia executive said Thursday.
"We expect to start building the plants next year in an effort to increase our
nickel output to 300 million pounds by 2016," said Arif Siregar, chief
executive of PT International Nickel Indonesia, or PT Inco.
The Indonesian company's nickel output this year is expected to be 165 million
pounds.
Arif said PT Inco, 61 percent owned by its Canadian parent, will launch an
engineering study in September to decide the financing structure for the
development of the plants.
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