21 Apr 2004

Inco to make decision about New Caledonia's Goro project by August

2:05 pm on 21 April 2004

The Canadian nickel company Inco says it will decide by August how it will proceed with its huge mining project in New Caledonia.

Inco suspended its 2-billion US dollar project at Goro in the territory's south in late 2002 amid concern over cost overruns.

Inco now says a new consortium, called CEG, is charged with drawing up a new timetable for the project to be completed by June.

At the end of May, an updated estimate is expected to be produced to give a better idea of the costs involved.