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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: dara who wrote (14527)5/26/2004 2:20:40 PM
From: russwinter  Read Replies (2) of 110194
 
Goro, another in the multiple Train Wreck story? This mine is vital, one of two large nickel mines on the drawing board over the next few years.

Inco will also take a non-cash charge of $180-million to $210-million in connection with engineering, equipment and other costs that are no longer of value because of changes to Goro's design.

The revised design calls for a smaller processing plant that will use less structural steel and concrete. As well, review team members found potential savings in areas such as redesigning a port so that it would require less dredging and eliminate offshore dumping of dredged material. Such savings amounted to about $500-million, but were partly offset by currency moves and increased costs for steel and copper, Mr. Hand said.
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